There's no time like the present to begin setting aside even small amounts of money you won't miss from each paycheck. Your future you will thank you, because automatic deductions require little effort while generating big rewards down the road.

Say you invest $500 a month for 30 years, from ages 30 to 60, and generate an average annual return of a realistic 6% over that time. That will build to about $474,300 to buttress what would then be your imminent plans for retirement.

And whether you're self-employed and contributing to an individual retirement account (IRA) or your employer sponsors your plan -- typically as a 401(k) -- you have the option of choosing one of the most powerful retirement accounts available: the Roth.

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Source Fool.com