Recently, I've been looking into investing into a Roth IRA since I'm in the lower end of my twenties. Due to no employer match and feedback from co-workers, I felt this would be a good option to ensure a proper retirement. I've scouted out my expenses over the years and it brought up a curious question.
I'll preface by saying I'm not adept at investing into either 401K's or Roth IRAs. I understand the core differences at best, but beyond that I'm financially a novice.
A good way to phrase my question would be:
If I contributed $5500 the first day applicable for 2015, or, I contributed $5500 the last day applicable for 2015, will contributing earlier mean more interest and, in the long run, a larger retirement fund?
(i.e. Does the interest for investing take place after that year's over with or 'monthly' in a sense?)
I tried looking for similar threads, but this one is the only one I could find. It didn't seem clear to me from its responses, so I apologize if they are truly that close to what I'm after.