Invest young
The sooner you start investing , the better for you. This gives you more time to earn money and gives you time to correct the mistakes you made. The reason for investing early is compound interest.
If you start investing at age 30, investing $1,000 every month for 30 years, with an annual return of 8%, you will have almost $1.5 million by age 60.
However, if you start investing at age 35 at the same amount and rate, your income will drop more than 35% to $950,000 by age 60.
The sooner you start investing , the better for you. This gives you more time to earn money and gives you time to correct the mistakes you made. The reason for investing early is compound interest.
If you start investing at age 30, investing $1,000 every month for 30 years, with an annual return of 8%, you will have almost $1.5 million by age 60.
However, if you start investing at age 35 at the same amount and rate, your income will drop more than 35% to $950,000 by age 60.