You are never too young to invest in your retirement, but many Millennials are passing up on the chance.
Certified Financial Planner Mary Beth Storjohann said that's a big mistake.
"The earlier you start, the better," she said. "If you have a job and can put away $50 or $60 a month, I'd say get started as early as possible."
Storjohann with Workable Wealth said she recommends people as young as 18 with a part-time job should start saving by putting money in a Roth IRA. A Roth has far more advantages for a young investor.
With a Roth IRA, contributions are made with after-tax money, but there are no taxes paid on retirement on the interest.
But Storjohann told NBC 7 the key is to start putting money away for retirement at an early age.
"So if you are 25 and you are not retiring until 65, that is 40 years worth of contributions that you have growing right there," said Storjohann.
Nathan Jarman is 26-years-old and works with his father, Doug, at Financial Planning Consultants. He said many Millennials put off saving for their future.
"People my age are making a lot less than they'll probably make later in life," said Jarman.
That also means their income is taxed at a smaller rate. So it is a good time to take after-tax money and invest in a Roth IRA to benefit from the compound interest.
"Growth is not a straight line," said Jarman. "Growth is an exponential line. It's a curve, and the sooner that you are able to jump on that curve the better."
Again, contributing to a Roth IRA or 401(k) does not give you a tax break, but you'll earn tax-free growth throughout your career. And while young investors may not have much money to put into a retirement account, it is important to start making regular monthly payments.
The habit of investing may be more important than the money going into the account.