Why you can't wait to invest

STUDENT writes:

". 45 to 60 is only 15 years and it would double like 1.6 times so like 3,000 $ at 60"
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MONEY PROF responds:
Yes, close enough. Wanted you to see the difference.

Save this for future use: http://www.math.com/students/calculators/source/compound.htm

For those of you in 20s use 8% compounded. ( we'll discuss why at a later date)

I'm trying to illustrate the difference of why you can't wait to invest.


$8,000 vs $2,500 on ONLY $1,000.

In other words IF you wait til 45 you need to invest $5,000 per the $1,000 at 25 to be even. Do you save say $2,000- $3,000 now or $10,000 $15,000 later and only be even ??? Do you really think you can save $15,000 per year later ??? If so you're not only dreaming, but you'll come up with a BS excuse of why not wait even longer. So start now.
No not next week, month, or my favorite BS "soon". A firm date.