Hey Seth! So, you just graduated and it’s super cool that you’re starting your job. I know you think you have a long time before you need to worry about retirement, but let me tell you why saving for it now is a really smart idea!
Imagine you have a magic piggy bank that grows your money all by itself! That’s kind of how a retirement savings account works with compound interest. When you put money in this account, it not only earns money for you each year, but then the next year, it earns money on the money you already earned! It’s like planting a tiny seed that turns into a big tree over time.
If you start saving a little bit now while you’re young, that money will have a lot of time to grow – just like that little seed becoming a giant tree. So when you're ready to retire in 40 years, you’ll have a lot more money saved up than if you waited to start saving later. Plus, the earlier you start, the less money you actually have to put in because it has more time to grow.
So, even if you think retirement is a long way off, starting to save now will help you have a super comfy and fun retirement later! How cool would it be to have more money to travel or do activities you love when you’re older? That's why listening to your uncle and saving now is a great choice!