Saving for retirement is often put on the back burner, especially when you’re younger and have other financial goals to juggle. However, the earlier you start, the better off you’ll be in the long run. Thanks to the power of compound interest, even small contributions made early can grow significantly over time.

It’s never too late to start saving, but waiting can mean you have to save more aggressively later on. Most retirement plans, like 401(k)s and IRAs, are designed to help you build a nest egg over several decades, allowing your money to grow tax-deferred or even tax-free.

So, when is the best time to start? Is it in your 20s, or is it later in life? Let’s see if you know the ideal time to kickstart your retirement savings!