If you want to retire by 65, Suze Orman says that you need to do this right now and not wait

Suze Orman emphasizes that starting to invest right now is crucial for achieving millionaire status by age 65. Compounding is the key to building wealth over time.

Orman explains the compounding process as investing money, which earns money, and then that earned money generates even more income. This cycle perpetuates wealth accumulation.

Compounding significantly affects how much you need to invest depending on when you start. For instance, starting at 25 requires $188.28 monthly to reach $1 million.

The earlier you begin investing, the greater the compounding opportunity, leading to a larger nest egg with less total investment required over time.

Read at 24/7 Wall St.