Why Retirement Planning Should Start in Your 30s
Why Retirement Planning Should Start in Your 30s Most people in their 30s are juggling careers, families, home ownership, and perhaps even student loans. Retirement can feel like a distant concern — something to worry about later. But the truth is, your 30s are the most powerful decade to begin retirement planning . Why? Because time is on your side. 1. The Power of Compound Interest Albert Einstein famously called compound interest the eighth wonder of the world — and for good reason. The earlier you begin saving, the more time your money has to grow. For example: If you start saving ₹5,000 per month at age 30 with an average return of 10%, you could accumulate around ₹1.14 crore by the age of 60. Wait until 40, and the same investment would only grow to about ₹43 lakh. Time literally multiplies your money. 2. More Flexibility, Less Pressure Planning in your 30s gives you the freedom to take risks — switch careers, start a business, or take career breaks — without...