Investing early and correctly make it easy!
Don’t’wait for the right time to invest, now is the right time!
People who wait till tomorrow to invest never actually start, because tomorrow never comes; there will always be another tomorrow.
Suppose you are 20 years old, and you want to have P5M in your retirement fund at age 60, then you have 40 years to build your retirement fund.
If every month, for 40 years, you save P421 in an investment vehicle that earns 12% per year, you will have P5,000,000 in your retirement fund.
But most young people will say, “I’m young, I’m healthy and I just got my first job! I’ll enjoy my salary and begin saving later!”
At age 30, you wonder if you should begin saving. You still have 30 years to save before you retire at age 60, right?
If every month, for 30 years, you save P1,416 in an investment vehicle that earns 12% per year, you will have P5,000,000 in your retirement fund. Because you waited 10 years, the amount of money you need to save to reach P5,000,000 already tripled!
At age 30, people say, “I just got married and have lot of new expenses. I’ll save tomorrow.”
Many people have excuses not to begin saving and investing. But just look at this table.
At age 40, one needs to save P5,004 every month, investing at 12% per year for 20 years to have P5,000,000 at age 60. But people at age 40 say, ”The kids are growing up, and I have lots of school expenses. Maybe I can begin saving tomorrow.”
At age 45, one needs to save P9,909 every month, investing at 12% per year for 15 years to have P5,000,000 at age 60. The amount needed almost doubled in five short years! But still people say, “My God, I didn’t know college can be so expensive! I can’t afford to start saving. Maybe tomorrow.”
At age 50, one needs to save P21,500 every month, investing at 12% per year for 10 years to have P5,000,000 at age 60. The amount more than doubled! But still people say, “My parents’ retirement money just ran out, and we have to support them. And I have more bills to pay. I really hope I can start tomorrow”
At age 55, one needs to save P60,600 every month, investing at 12% per year for 5 years to have P5,000,000 at age 60. The amount almost tripled! That is about P2,000 per day!
Which is easier, saving P421 PER MONTH starting at age 20, or saving P2,000 PER DAY starting at age 55? At age 55, people sadly say,
“I should have started saving yesterday.”
And finally at age 65, people say, “My retirement money is just enough to pay for my debts. What will I spend tomorrow?”
It is never too late to start saving and investing! The earlier you start, the better! It keeps on getting exponentially more difficult as you grow older.
Are you ready to start saving and investing? Are you ready to grow your wealth?
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