Bank of America has an app that's designed to scare you into saving by aging your picture so you can see how you'll look at the retirement.

The Face Retirement app uses your smartphone or webcam to snap a picture of you that is then digitally aged to 65. The idea is by seeing yourself down the road, you'll be inspired to start saving money today.

My youngest producer Joel is 29. Here recently said something to the effect of that he couldn't imagine living past 78. That kind of attitude is common among young people. Fifty years from now is so remote, it's like out of sight, out of mind.

But the sooner you save money, the better off you'll be. See how compound interest can add up over the years. (Joel and his wife do a great job saving money, by the way!)

I started my first IRA back at 19. The contribution limit was something like $1,000 or less back then. It's just something I did as a teenager. I've always been about saving money. When I had my first job out of grad school, my thing was to live on every other paycheck.

You don't have to be as extreme as me when it comes to saving. Just do something. The earlier you start, the more powerful your money becomes down the road.

Image of Clark Howard About the author: Clark Howard

Clark Howard is a consumer expert whose goal is to help you keep more of the money you make. His national radio show and website show you ways to put more money in your pocket, with advice you can trust. View More Articles

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