- Orville Rogers, 100, is enjoying 40 years of retirement, according to a recent profile of him in Money.
- He built a nest egg that he says is worth $5 million by following a timeless financial tip: start saving early.
- Starting early allows savers to take advantage of compound interest, in which the balance and older interest payments in a savings account earn interest over time.
Orville Rogers — a centenarian, former airline pilot, and world-record runner — is now enjoying his fourth decade of retirement.
According to a recent Money profile by Elizabeth O’Brien, Rogers had to retire from his job as a pilot when he was 60 because of company policy. But Rogers was prepared — he had been saving since he was 35.
“The key to success in any investment is periodic investments over a long time,” Rogers told Money.
In 1952, Rogers started a retirement savings account. At that time, saving for retirement wasn’t widespread. The 401(k) wasn’t established until 26 years later, and people relied mainly on a pension or Social Security.