Small amounts of money can grow exponentially when you are investing for retirement.
Starting younger lets you take advantage of the power of compound interest. That means you get returns on the money you invest, and even better, returns on your returns.
Putting just $50 a month into a retirement account can nearly equal a six-figure payout when you are ready to retire.
CNBC crunched the numbers, and we can tell you how much investing an extra $50 a month now will yield when you are ready to retire.
Just a few things to remember: these numbers assume you put the money in a retirement account, you get a 4% return on your investments and that you will retire at age 67. Check out this video for a full breakdown of how large your savings will grow over time.
