<prompt> Human: Longtime lurker, first time poster. I am 24 years old making 56k in a mid-level Systems Analyst position. Ive heard conflicting advice from coworkers about how to distribute my paycheck. My company matches .501 up to 6 to my 401k, and Ive been told I should only contribute an amount to take advantage of this but no more. A couple of older coworkers recommend maxing out my 401k as early as possible, and they wish they had been maxing out in their 20s because they could be retired by now.Im in a position where I can very nearly max out my 401k, but I will be living off of ketchupmustard sandwiches while I do it because I will have no extra disposable income. Is it more important to contribute as much as possible to my 401k, live very modestly and possibly retire earlier...or to contribute a decent amount and enjoy some spending money?Extra point: I lost my mom to cancer when she was 45 so Ive always had the worry that I wont be able to experience a long life. Hence the enjoy it while youve got it mentality. She saved money her whole life and never got to splurge and enjoy herself.  <response>: I saved nothing in my 20s, I had a job that paid really well, I spend all of it on having fun and my wedding. I had to start from ground zero in my early 30s again. While I do not regret having all the fun and wedding, I do regret not putting at least some money away in my 20s. Here is a little chart that I wish I had come across earlier in my life. It looks at two people, one starts investing at 25 it could be you for ten years and stops, other person like me starts investing at 35, Both invest the same amount every year. The one who started investing late will never catch-up with the who started early and stopped after 10 years. Both cases assume a return of 7 compounded annually. 