Regardless of your age, you want to be financially ready to invest as soon as you can.
That’s because the sooner you begin investing, the more time your money has to grow.
Take Jane, for example.
If Jane is debt-free and has her full emergency fund in place, she should be investing 15% of her income.
If she started investing $500 a month ($6,000 per year) at the age of 25,
she could have between $3.1 million and $5.8 million by the time she’s 65 based on a 10–12% rate of return!
Now if Jane waits until she’s 35 to start investing that $500 a month, she could have between $1.1 million and $1.7 million at age 65.
Waiting 10 years could cost you millions of dollars at retirement!
And don’t get hung up on rate of return here.
Even with an 8% return,
Jane could have a $1.7 million nest egg by 65 if she started investing at age 25.
That’s nothing to sneeze at!
Remember, TIME and COMPOUND GROWTH are your friends.
Make the most of them!
Lot of people want to start investing, but just have no idea where to begin.
There’s a lot of information out there to process and try to understand.
Plus, starting anything for the first time can be intimidating especially when it’s something that can have long-term effects on your finances.
I can tell you that Anyone can invest including you.
One of the easy ways to start is with ETFs Exchange traded Funds,
It is a collection of portfolio of various assets such as stocks, bonds, traded as single unit on the stock market.