For 20-somethings, first jobs mean first chance to save for retirement

As soon as she graduated from college and began earning an income, Army 1^st Lt. Emma Sparks-Hedman started saving for her retirement.

"It's nice to have money and to be able to do what you want with it," the 24-year-old said.

With Social Security facing a strain and life expectancies growing longer, financial planners are stressing to young people the importance of saving for retirement early.

"The most powerful tool toward creating wealth is time," said Ric Edelman, a financial planner who has an ABC radio show.