You might be years or even decades away from retirement, so you might think you don’t have to worry about it right now. But you have to worry about retirement at any age, and the sooner you start putting money away for your later years, the less pressured your later years will be.

Why should you start putting money away now? Well, no matter what age you are, there’s going to be a time when you stop working and start living off the money you have put away. The more you can save, the more choices you’ll have available to you about where and how you want to and are able to live.

Whether you’re 25 and saddled with student loans and rent or 45 with a mortgage and your kids’ college tuitions staring you down and you can only put aside $5 a week, do it.

How can putting a little bit of money aside every single week help you?

1. Saving every week builds a good habit

Naturally, you’re going to wonder how such a tiny amount will make any difference, but it will in a few ways. First, putting that $5 into an account for retirement gets you in the habit of doing it every single week. Once you’re in the habit, it becomes easier.

2. Saving every week makes your account grow

So you only have a little money to put aside? If you put only $5 a week into an account, you’ll still have $260 at the end of the year that you didn’t have at the end of the previous year. If you put aside $10, you’ll have $520. Once you see the money add up, you’ll be inspired to add as much as you can, even if it’s only a dollar or two.

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3. Saving every week means each year your money collects interest

As your account grows and gains interest, you can start investing it in long-term options. If your workplace has a retirement plan, your money, even the little bit that you save, will make more money. After 10 years, you’ll have a good chunk of cash.

4. Saving every week means each week of retirement is better than it would have been

Think of your habit of saving every week as a gift fund for your older self. It means you’ll hopefully have enough to live the way you want when you are no longer working. That means you might be able to travel, spoil the grandkids, pursue your passion, or start up a nonprofit. The earlier you start, the more money you are going to have to do what you want.

5. Saving every week means it’s never too late

So you’ll retire in 15 years and haven’t even started? Start saving now and put away as much as you can every single week. Any amount, no matter how small, is an amount you wouldn’t have otherwise. You’re going to need that money, so try to find it now wherever you can. Take on occasional side jobs or give up your daily coffee at the coffee shop and put all that money into your account.

Your retired self will thank you.

Julia Quinn-Szcesuil
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