Seniors week is a great time for everyone to think about their own retirement. 

While many of us are at the stage where it has become necessary to begin planning for retirement, we all know younger people who don't quite realise how good they've got it. Time is one of the greatest luxuries an investor can enjoy.

Consider a $1,000 investment that returns six per cent annually. Without any further investment it will be worth just $3,207 after 20 years, but jumps to $10,286 after 40 years. Similarly, an annual investment of $5,000 at six per cent return is worth $194,964 after 20 years but skyrockets to $820,238 after 40 years*. Time and compound interest are an incredibly powerful combination.

But it's not just compound interest that comes into play for those who begin retirement planning as soon as they enter the workforce. There are many other benefits that help ensure a comfortable lifestyle at the end of one's career.

One is the fact that the longer the investment timeframe, the greater the chance of riding out the volatility in various markets along the way. Another has to do with the development of great investment habits early in one's working life. Such habits are essential to the development of a desired retirement lifestyle - whether or not you have a high-salary job right now, what actually matters in the long run is what is in your savings.

Planning early and visiting a financial adviser can help ensure the structure of your investment plan is suitable for your specific needs and wishes. It helps free up funds that can be used for other purposes throughout your life, whether it be other investments, travel, building a house or enjoying a hobby. Retirement will be looked after by the long-term plan, and therefore gives you greater flexibility with how you use your other savings in the meantime - whether it's confidently holding investments outside of the superannuation environment, or simply enjoying greater cash flow.

Many early adopters of a superannuation or retirement plan make regular visits to financial advisers throughout their lives, ensuring their financial knowledge remains up to date. The simple fact that they begin their financial education before most even start thinking about retirement means they are ahead of the game, as they will make fewer financial missteps along the way.

Finally, the more time people spend putting money into superannuation, the more they are able to take advantage of changing government policies, such as co-contribution schemes and low-income superannuation schemes.

If you know a young person who has recently entered the workforce, you can share your knowledge about the benefits of seeing a financial adviser and encourage them to get on the path for a healthy financial future sooner rather than later.

*Calculations have not been adjusted for inflation and interest is compounded annually. These sample calculations are for general information and illustrative purposes only. They do not represent advice specific to any particular investor. Count Financial makes no warranty as to the accuracy, reliability or completeness of any information contained herein. Investments are subject to a number of risks and the repayment of capital or the investment performance of any financial product covered is not guaranteed. Investors should seek independent financial advice.

For more information about your superannuation need please contact - Michael Gay on 02 6942 0307

This document has been prepared by Count Financial Limited ABN 19 001 974 625, AFSL 227232, (Count) a wholly-owned, non-guaranteed subsidiary of Commonwealth Bank of Australia ABN 48 123 123 124. 'Count' and Count Wealth Accountants® are trading names of Count. Count is a Professional Partner of the Financial Planning Association of Australia Limited. Count advisers are authorised representatives of Count. Information in this document is based on current regulatory requirements and laws, which may be subject to change. While care has been taken in the preparation of this document, no liability is accepted by Count, its related entities, agents and employees for any loss arising from reliance on this document. This document contains general advice. It does not take account of your individual objectives, financial situation or needs. You should consider talking to a financial adviser before making a financial decision.