19-year-old NBA rookie Dylan Harper’s professional basketball career is just beginning. He has also started saving for retirement.
Harper, the No. 2 pick in the 2025 NBA Draft, told CNBC Make It that he is investing at least a portion of his four-year rookie contract with the San Antonio Spurs as part of a paid campaign with financial services firm Prudential.
The decision to make the acquisition was “a no-brainer,” he says. “The importance of investing in your life and efforts was the biggest thing for me.”
Before joining Prudential, Harper said he had signed name, image and likeness deals with companies like Nike, Red Bull and Fanatics, but had never actually saved for retirement.
As a high school student, he remembers “spending a little too much” his first few NIL paychecks on the basketball video game NBA 2K. Now, he says his priorities have changed and he wants other young people to follow suit.
Saving for retirement gives you the peace of mind that “even though you’re doing what you want to do with your life, there’s something you can rely on at the end of the day that will continue to grow,” Harper says.
Why experts say you should start saving for retirement early
When you invest money in the market through a retirement account such as a 401(k) or Roth IRA, that money grows not only through your contributions but also through the investment gains that accumulate on your own, says Nathan Sebesta, a certified financial planner and owner of Access Wealth Strategies, a financial services firm in Artesia, New Mexico. This is known as compound interest.
“Start as early as possible and save as much as you can,” says Sebesta. “Over time, the market becomes your best friend.”
Let’s say you start with an initial investment of $1,000 on your 20th birthday and put $200 a month into a retirement account accruing at 8% per year for 45 years. CNBC Make It calculates that by the time you’re 65, that investment will be worth more than $1 million.
If you wait until age 30 to start investing, your total contribution will be less than half that amount, even though you’ll contribute just $24,000 less.
don’t wait forever
Not all teenagers and young adults have the money to save for retirement. About a third of adults ages 18 to 24 say they are living paycheck to paycheck, and 25% say they don’t earn enough money to save for retirement, according to a 2024 survey from financial services provider TIAA.
It’s OK to forget those early years, but don’t wait forever, Ann Lester, a retirement expert and author of Your Best Financial Life: Save Smart Now for the Future You Want, previously told CNBC Make It.
Many companies also offer 401(k) match programs. This means the company will contribute additional funds to your retirement account. It usually corresponds to a certain percentage of the contribution amount, up to a certain limit. Experts, including Lester, recommend making the most of these programs because they are essentially “free money” in retirement.
“One of the tragedies of missing out on early contributions, especially if you’re in a 401(k) and have a matchup with a company, is you’re missing out on free money and you’re not getting that money back,” Lester said.
If you can’t afford to contribute much right now, don’t stop getting started, says Lester. The key is to build habits early to reap the benefits of compound interest over the long term.
“Once you set this big goal, it’s important to take small steps,” Lester said. “That’s a goal to achieve, but you don’t have to get there tomorrow.”
Want to level up your AI skills? Sign up for CNBC Make It’s new online course, “How to use AI to better communicate at work by Smarter by CNBC Make It.” Get specific prompts to optimize your emails, notes, and presentations for tone, context, and audience. Register now using coupon code EARLYBIRD and receive a 20% off introductory discount. Offer valid from October 21st to October 28th, 2025.
Plus, sign up for the CNBC Make It newsletter for tips and tricks to succeed at work, money, and life, and request to join our exclusive community on LinkedIn to connect with experts and colleagues.
