Pay yourself first. When you’re just setting out to begin your career, thinking about retirement might be the last thing on your mind. But here’s the thing about saving for retirement: The younger you are when you start, the more time your money has to grow, thanks to the magic of compound interest. Here’s some math to prove it: Let’s say you start saving $300 a month at age 20. Assuming an annual average return of 7%, you’ll have over $1 million dollars in retirement savings by age 65. But if you wait until age 30 to start saving — only a 10-year difference — your retirement savings drops by half to about $500,000. If your employer offers a 401(k) match, make sure you’re taking full advantage of it; otherwise, you’re leaving free money on the table.