What’s the one thing that you don’t have a lot of and you can’t control? It’s time. You can’t speed up time, stop time, or slow down time. Time is finite. Your time on this planet cannot be extended. It’s such a limited resource that you don’t want to waste time.  

When you hear about the power of compounding, one of the necessary components for your money to grow is time. Compounding money grows over time, not overnight. The longer you contribute towards your investments the longer it has to grow.  

I started my retirement journey since my first job by contributing to my 401K plan. I didn’t know much about it at the time but the one advice I received was to make sure I participate in the 401K plan and contribute towards it. I contributed the maximum amount and I’ve done this with every job I had.  

Imagine 30 years of 401K contributions at the maximum limit plus employer match. 30 years of growth; 30 years of compounding; 30 years of time. Did I know, at the time, what my life would be like in 30 years? Not even close.  

I started my retirement planning very early. The earlier you start the more time you have for your money to grow. Even if you didn’t start early like me, start as soon as you can. Again, allow the most amount of time to give your money to grow.  

Time is your friend. Don’t ignore it. It’s a resource you don’t have much of. Take action now rather than later. Don’t waste time. It may feel like a sacrifice in the beginning but don’t let that deter you away from your financial end goal. If you are interested in following my journey and their journey, follow them on Instagram and email subscribe to get alerts of latest posts or follow me on Facebook, Instagram, and Pinterest.