When it comes to planning for future financial security, people commonly ask if there is an age considered too young for getting started. The answer is no, although as a child, a parent or legal guardian would be responsible for starting the savings process. However, even at a very young age—8, 9, 10, etc.—there is no reason not to start planning for the future.

While that might seem awfully young, some children who are more aware not only start thinking about their futures early, but also take action early. For example, some children hold garage sales, set up lemonade stands, design and produce t-shirts, make bracelets, create YouTube channels, and more. However, when moving into the teenage and young adult years, serious planning becomes essential.

Remember, while you are never too young to save for a secure financial future, you are also never too old. If you do not start putting money aside until your 50s or 60s, you will miss out on certain opportunities, but it is better to save something than nothing at all. The goal is to have a nice nest egg for your golden years, meaning that you have enough money in the bank or investments to live out the remainder of your life comfortably. Depending on how soon you start saving and how much you put aside, you might even enjoy a lavish retirement.

Saving a significant amount of money in your 20s could be challenging, especially if you attend college. Even though you might be limited as to what you can initially set aside, every amount of money counts. Whether you invest $20, $50, or $100 a month, if left untouched in a high-interest account, it will quickly add up. You want to start coordinating your savings with earning increases. In addition, if you come into an inheritance, get an insurance settlement, or have extra money from some other source, put as much of it away in savings as possible.

After reaching your mid-20s and a steady income, you should meet with a financial advisor or attorney who specializes in estate and financial planning. With professional guidance regarding high-risk and high-return stocks, you can make the right choices that serve as a buffer for any lost income during your 40s or 50s. Of course, there are many additional investment opportunities, including IRAs and rental properties, among others.

There is another benefit of meeting with an advisor or attorney who deals with estate and financial planning. The expert can create a detailed plan based on how much money you want to save by the time you retire. For instance, if you have a specific number in mind, the advisor or an attorney will use different formulas along with financial expertise to determine the amount of money that you would need to set aside each month or by the end of each decade. You will also be presented with viable options for achieving your goal. With a clear plan to follow, you will have financial security by the time you retire.