W3Schools

Grow: How to become a millionaire—even on a $55k salary

You’ve probably heard that you’ll need $1 million to retire. You’ve probably also thought that sounded pretty close to impossible—especially if you’re in your mid-20s or 30s with only a little saved, or, maybe, nothing at all.

Actually, if that’s you, you’re right on schedule. But you can’t afford to wait any longer.

People in their 20s and early 30s have an amazing—but easy-to-waste—advantage when it comes to investing for retirement: time. Thanks to compounding returns (when your investment returns start generating returns and so on), money socked away early has the chance to grow exponentially. That’s why it’s imperative to start investing now, even if you don’t have much to spare.

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