Saving for retirement is one of those topics that can feel daunting and overwhelming, especially for young people just starting their careers. But the truth is, it’s never too early to start planning for your financial future. The power of compound interest means that the earlier you begin saving, the more time your money has to grow and the less you’ll have to contribute overall.

Let’s say you start saving at 25 years old. By putting away just $100 a month and assuming a modest 6% annual return, you’ll end up with over $200,000 by the time you’re 65. But if you wait until you’re 35 to start saving, you’ll need to put away more than double that amount each month to reach the same milestone. Time is quite literally money when it comes to retirement savings.

Of course, retirement can feel like a distant concern when you’re in your 20s and 30s. It’s easy to prioritize other financial goals, like paying off student loans or saving for a down payment on a home. But the reality is that the earlier you start saving for retirement, the more options you’ll have down the line. You might be able to retire early, pursue a passion project, or simply have the peace of mind that comes with knowing you’re on track for a comfortable retirement.

So, how can you get started on saving for retirement? The first step is to take advantage of any employer-matched retirement plans, like a 401(k). This is essentially free money that can boost your retirement savings significantly. If you’re self-employed or your employer doesn’t offer a retirement plan, you can open an individual retirement account (IRA). There are different types of IRAs to choose from, so be sure to do your research and pick the one that best fits your needs.

Another key aspect of retirement planning is diversifying your investments. This means spreading your money across different types of assets, such as stocks, bonds, and real estate, to minimize risk and maximize returns. Over time, you’ll want to adjust your investment strategy to become more conservative as you approach retirement age.

It’s also important to periodically review and adjust your retirement plan. Life is full of surprises, and your financial situation will likely change over the years. Maybe you get a raise, switch jobs, or experience a life event that impacts your finances. By regularly checking in on your retirement savings and making adjustments as needed, you can ensure that you stay on track.

Lastly, don’t be afraid to seek professional help. Retirement planning can be complex, and a financial advisor can help you navigate the intricacies and create a personalized plan that fits your goals and risk tolerance. Remember, the most important step is taking that first step and starting to save. From there, you can build a secure financial future and enjoy the peace of mind that comes with being prepared for retirement.

So, to all the young people out there, I say this: start saving for retirement now. The power is in your hands to build a secure financial future, and the earlier you begin, the sweeter that retirement will be. Your future self will thank you!