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Save early and often

The earlier you start saving, the bigger your 401(k) can grow. Start small and let the power of compounding work for you.

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Start saving

If there is a magic ingredient to successful investing, it must be “time.” Quite simply, the earlier you start saving, the better.

Don’t make the mistake of thinking that you don’t earn enough money to save, or that retirement is too far away. No matter your age, NOW is the time to put money into a 401(k). Join your company’s 401(k) plan as soon as you can. Waiting even a few months could mean less money in your nest egg when you retire.

Why? It’s all about the power of compounding. Compounding allows you to make money not just on the money you contribute to your 401(k) but also on the money it earns (the “rate of return”). So, if you invest $100 and it earns a 5% return in one year, you now have a principal of $105. The following year, if you also earn a 5% return, you earn it on $105 (not just the initial $100) and you now have $110.25. As your principal grows, your gains will grow too, compounding your returns. The more time you have until retirement, the longer the magic of compounding can work, growing your savings faster than you imagined.

Even the smallest amount you can set aside each month has the power to grow exponentially over the years when you start young.

Want to know more about how compound interest works? Watch this video from Khan Academy.

Our goal is to change how we think about saving.

I founded NARPP as a non-profit, because I believe that retirement savings should be about people— and making their lives better. Not about assets under management, sales goals and commissions. The process of saving for retirement has become so complex and confusing it is not surprising that people have a hard time figuring out what’s in their best interest.  It doesn’t need to be this way. At NARPP we are committed to simplifying the complex, delivering fair and transparent investment information, and giving people ownership and control of their retirement savings. Our singular mission is to help you succeed.

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Getting started is easy.

We’ll help you every step of the way.