When should I start planning for the future?

Question: 

When should I start planning for the future?

The sooner you start, the better. The example below shows the difference in accumulative savings between Ms.Early and Ms.Late, who started saving at different times. 

Ms.Early saves for 10 years and then stops. Ms. Late starts 10 years later and saves for 20 years. 

But, Ms.Early still get 87% more than Ms.Late (based upon an investment that gives 10% annual growth, not taking into account annual inflation).

Year	Savings by Ms. Early	Accumulation	Savings by Ms. Late	Accumulation
1	1,00,000	1,10,000	-	-
2	1,00,000	2,31,000	-	-
3	1,00,000	3,64,100	-	-
4	1,00,000	5,10,510	-	-
5	1,00,000	6,71,561	-	-
6	1,00,000	8,48,717	-	-
7	1,00,000	10,43,589	-	-
8	1,00,000	12,57,948	-	-
9	1,00,000	14,93,742	-	-
10	1,00,000	17,53,117	-	-
11		19,28,428	1,00,000	1,10,000
12		21,21,271	1,00,000	2,31,000
13		23,33,398	1,00,000	3,64,100
14		25,66,738	1,00,000	5,10,510
15		28,23,412	1,00,000	6,71,561
16		310,5,753	1,00,000	8,48,717
17		34,16,329	1,00,000	10,43,589
18		37,57,961	1,00,000	12,57,948
19		41,33,757	1,00,000	14,93,742
20		45,47,133	1,00,000	17,53,117
21		50,01,847	1,00,000	20,38,428
22		55,02,031	1,00,000	23,52,271
23		60,52,234	1,00,000	26,97,498
24		66,57,458	1,00,000	30,77,248
25		73,23,204	1,00,000	34,94,973
26		80,55,524	1,00,000	39,54,470
27		88,61,076	1,00,000	44,59,917
28		97,47,184	1,00,000	50,15,909
29		1,07,21,902	1,00,000	56,27,500
30		1,17,94,093	1,00,000	63,00,250

Src: https://www.hsbc.co.in/1/2/personal/investments/faq

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