Except that shit doesn't grow at 8% any more, and probably won't for quite a while yet. At the much more realistic 4.5%, 300$/year for 40 years only comes to $395,000. Not only do we need to start saving early, we need to save bigger percentages of our incomes than our parents did.
On Why You Need to Start Saving for Retirement Now: Compound Interest
Except that shit doesn't grow at 8% any more, and probably won't for quite a while yet. At the much more realistic 4.5%, 300$/year for 40 years only comes to $395,000. Not only do we need to start saving early, we need to save bigger percentages of our incomes than our parents did.