Save from 21 to 30, then stop. You will have a bigger pension than a saver who starts at 30 and stop at 70. The miracle of compound interest, Einstein's 'eighth wonder of the world
Which will give you a bigger pension: saving for 40 years or just 10?
Believe it or not, the answer is 10 – if those years are at the very beginning of your working life.
Someone who starts saving at the age of 21 and then stops at 30 will end up with a bigger pension pot than a saver who starts at 30 and puts money aside for the next 40 years until retiring at 70.
This astonishing outcome is entirely due to the power of compound interest – the way that investment returns themselves generate future gains. Having 10 extra years for compound interest to work its magic has the same result as all those years of extra contributionshttps://www.myfxbook.com/members/rob559/private-investments/1773963