Putting away a small amount each month, you will accrue a sufficient amount to retire. ($50 x 12 months x 40 years = $24,000.) I did not take into account interest, but with the tiny rates banks pay, you still would not have enough. That would not last me a year.
Element I started with a Mutual fund account at $75 a month as a pup. Over the last 30 years it has morphed into a stock account and I contribute a lot more to it. It now sits at high 7's. It also provided me the ability to buy rental property and pay cash for my current housing.
BTW I have been debt free for over 20 years. Do not knock savings and investing
Element 99 