While starting early in life has its own advantages, it's never too late start saving. With increasing life expectancy rate, the post retirement period has become an important phase which requires serious planning. After retirement, you may not have a regular income, but your expenses would still exist. Being financially dependent on children was a thing of the past. A responsible and independent person would always prefer to be financially independent, hence it is important to build a corpus of funds for stress free and enjoyable retired life.

If you wish to build a corpus of funds then you should start as early as possible. When a 23-year-old starts saving for retirement, he can begin with a small amount and over the years his investment would multiply with compounding rate of interest and his final returns would be very high. On the other side, when a 40-year-old decides to save for retirement, his funds would remain for investment for a lesser duration and the rate of return would be comparatively low to a young person.

Hence it is never too early and never too late to start investing and planning for retirement, and the best time to invest is now.