Start Investing NOW!! The Earlier You Start the Better Off You Will Be.
Do not wait a week or a month to start. Start as soon as possible. The earlier you start investing the better off you will be. Start investing
early---right now. Compound interest is a huge factor in wealth building and wealth maintenance. It’s the best and smartest way to get your money
working hard for you instead of the other way around.
This is why you need to start investing early:
If you start investing at age 25 and start investing $250 a month and earn an 8% return at the age of 65 that money will have accumulated to $810,000.
Start 10 years later…
If you start investing at age 35 and start investing $250 a month and earn an 8% return at the age of 65 that money will have accumulated to $354,000.
That’s a $456,000 difference!! Just for starting 10 years later. The money invested difference is $30,000 ($250/month x 12 x 10/years). So that $30,000 difference
was $456,000 later in life for your retirement.
Start asking yourself how “I can go from $100 a month to $200 a month” saved. Design your future now so you know how much to save. And just try to keep saving
as much as you can. Saving too much will never hurt you.
How Your Money Grows with Compound Interest
“Compounding," Albert Einstein said, "is mankind’s greatest invention because it allows for the reliable, systematic accumulation of wealth.”
A little money invested now goes a long way to big money. I want to do a little example on things that young adults like to spend their money on and show
what that money would be worth later in life.
- Clothes - $1,800 year ($150/month x 12) take that amount and invest it and earn 8% over 15 years it would be worth $5,700 and over 30 years it would be worth $18,000.
- Entertainment - $3,000 year ($250/month x 12) take that amount and invest it and earn 8% over 15 years it would be worth $9,500 and over 30 years it would be worth $30,200.
- Sweet Car - $10,000 difference (instead of buying a $20,000 car buy a $10,000 used car) take that amount and invest it and earn 8% over 15 years it would be worth $31,800 and over 30 years it would be worth $100,600.
So the next time you’re buying stuff that you really don’t need start thinking about if you could save that money and invest it how much it would be later
in life. There are plenty of ways to enjoy your life in the moment AND prepare for the future at the same time.
Compound Interest Chart
Use this chart to see if you are able to save a certain amount of money a day and invest it to get the 8% or 15% return on
your money. Basically it helps you calculate how long it would take you to become a millionaire
Remeber, the younger you are, the longer you have to make your money grow. Start young and never stop investing.
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