Learn how much money you have to save each month to retire by age 40.

Article on CNBC.com by Kathleen Elkins. The numbers may discourage you, but I'll show you why it doesn't have to get you down. It's not as hard as you think.

The article assumes a straight line. I don't know about you, but I started out making a pittance in my 20's and over a hundred thousand dollars a year in my 30's and 40's.

The amount of savings should dramatically increase.

Some people talk about skimping their way to retirement at 40. There's a trend to live in a house the size of a shed, ride a bike and don't own a car and not to eat out or entertain.

That's not my style and it might not be yours either. You can retire early while still enjoying life and having creature comforts but it means you have to invest well and compound at a high (8 to 12% rate).

A good idea to make investing your hobby. Whether you are flipping houses on the side or investing in stocks or starting an online business, you're going to have to get to higher levels of compounding. So get good at it!

You also want multiple asset classes: stocks, real estate, own business, collectibles, etc.

It's all about the savings and compounding over a long period of time. Of course, the higher the rate you compound at, the sooner you will be wealthy.

Try to have your deductions to investments automatically be taken out of your paycheck or bank account. That way, you're not tempted to spend it if it's not in your account.

When you get raises, save more, put more in your 401k or start an IRA.

Max out your savings and investments whenever possible.

If you want to retire by 40, you're going to have to be intensely focused and invest wisely. It's much harder to save your way to retirement than to invest your way to retirement. Get your money working harder for you.

I'll post the article on my website at http://lindapjones.com, podcast 291.

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