Let's look at why starting early pays!
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When you are young and enjoying life, investing may be the last thing that comes to your mind. But, did you know that the best time to start investing is in your early 20s?
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Just because it looks good on sale today, doesn’t mean it will last. Why not invest that money instead?
Investing regularly delivers much better outcomes. Invest now to reap the benefits later.
Compounding interest creates a snowball effect, where your interests generate even more interests. This concept is extremely powerful over the long run and the earlier you start investing, the more you can benefit from it.
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Investors who are older inherently will be bagged with more financial responsibilities, so, they will be more cautious with their money. On the other hand, as a young investor, you have the allowance to take more risks and choose investments that gives you higher returns despite being riskier.
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Having time on your side means you have a longer time horizon to accumulate wealth and save for your financial goals such as retirement. Even if you begin with a small amount of money, you can experience the benefits of investing early over the long-term.