A 100-year-old retired airline pilot with $5 million in the bank used a timeless tip to build his fortune

Orville Rogers
Orville Rogers has $5 million in his retirement fund because he started saving early, he told Money.
 YouTube/WFAA-TV

 

  • 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.

READ MORE : https://www.businessinsider.com/orville-rogers-retirement-advice-saving-early-2018-10

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