The Power of Early Retirement Savings

Starting retirement savings early is crucial due to the benefits of compound interest, which allows money to earn returns on both the initial investment and the accumulated interest. This process makes your money work for you, allowing it to grow over time without additional effort. Historically, the stock market averages about a 7% return annually, although individual years may fluctuate. By saving early, individuals can capitalize on this growth potential, efficiently building wealth for retirement.