Graphic: Growth of a Retirement Account From the Age of 25

Saving is always important. It is considered a good practice to consistently set aside part of each of your paychecks when you are young to have money later. It is equally important to continue saving even after you grow older. As This chart from Business Insider shows, there are major differences between individuals who not only start to save money early on, but continue to save money throughout their career.

Graphic: Growth of a Retirement Account From the Age of 25

A twenty-five year old who saves five thousand dollars annually between the ages of twenty-five and thirty five is expected to have a nest egg of one million dollars by the age of sixty five.

A person who starts saving from age thirty five will have considerably less at five hundred thousand or less, but will still have a good cushion for retirement.

Saving early can actually turn into earning later on. Simply this is because the longer investments have to mature, the higher the return they will have. On average a person who only saves and invests $5,000 annually between the ages of 25 and 35 will actually have more money than someone who starts saving at the same rate from age 35 to 65.