11 Answers: Why investing at a young age is so important?
Question
Many people keep saying that investing at a young age is the most important thing. Surely is is okay to start later with more capital to invest?
Is it true that starting young is the only way to make the most money investing? Can I still be a millionaire starting in my 30’s? I think that if I start investing now then I should still have a good chance of getting rich through investing.
Why do people keep going on about starting invest at a young age and why this is the most important thing to do?
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Answers ( 11 )
If you start investing young it allows you to compound your returns over a far great period of time than otherwise would be possible. For example you are investing for your retirement and you start at 25 to retire at 65, so you have 40 years of investing and compounding your returns making a lot of money.
While if you start at 40 then you only have 25 years and you will not ever reach anywhere near the amount of wealth, mostly because if how compound interest factors in but also just because if you are investing the same amount start at 25 gives you 15 years more of investing and wealth creation.
Correct. You can compound your returns if you start early and will realize far great gains with the additional time to compound.
Get started right now! The best time to start was 20 years ago in investing, the second best time is right NOW!
That being said when I say start investing I really mean start learning about investing because you should do as much research and learning as you can before you begin to invest your savings.
I got started very young at 18 and now at 28 I am doing very well because of it. Whatever your age, just start now.
good on you!
get started and begin to continually diversify your portfolio. I think the reason it is so important to start young investing is because of what you learn, and learn young. I think learning young is easier and you can adapt and grow faster. I also think that if you do make mistakes investing in your twenties then that is OK because you can make it back when you get better at investing.
While if you are suddenly investing for retirement because you now are not going to receive a pension then you are quite late if you are starting in your forties or fifties. Start as young as possible. Learn and make mistakes. It will pay off when you get older.
when you start investing young it means you make mistakes early and can have more time to make them right and make back your money
This is what I think too,. because you may emerge from your twenties even at a loss overall in the stock market but you are armed with a decade of experimentation and failure — this helps A LOT!
While you start at 30 with no experience then you are going to need to get ready for a rude awakening as everything you think you know about investing in stocks gets challenged.
Start young and learn better, compound for a longer period, these are all good reasons to start as young as possible… also you save more when you are thinking about investing.
I keep telling my grandchildren to invest and start early but it is difficult to convince them. What should I tell them? Should I scare them?
Good to start young. On your way to becoming a billionaire you need to begin that quest early in life because it may take some time to get there.