I recently came across a facebook post by an American company called Ameriprise Financial and they asked the question “What do you think is the ideal age to start investing?” Quite an interesting question which revealed that not everyone thinks alike.
“As early as possible! May the power of compounding interest bless you”
“Your first job”
“13 is a great age to start learning about it!”
“62”
“As soon as you can… time is key…”
“Now!!!!”
“At birth – its never too early”
“Kids should be taught with the very first buck they earn. Early habits stick with a person. Poor, spend-it-all, habits also stick with a person. Saving as a child teaches discipline and will make them better with their finances as an adult”
“The sooner you start the sooner you have enough money. The two most important components of how much you have at retirement are not return, but rather how often you save and how much. “Compound interest is the greatest invention ever.” –Einstein”
“I’ve been meaning to”
“Birth”
“About 2 years old, seriously. A piggy bank at least!”
“Isn’t Obama gonna take care of us all?”
“Your parents should invest on you from the day you are born. You yourself should invest in getting an education. Then with the first check/first job, one should invest in their future/retirement.”
This highlights the differences in everyones thinking. Some think they will be looked after by the government, some leave investing too late, some get taught good financial habits from an early age and others don’t.
Some don’t invest money they invest in themselves and their education and others live and die by the philosophy of compound interest and “time in the market”
‘So, when is the ideal age to start investing? A good question….. Speak to an Income Solutions Financial Adviser to discover when is the right time for YOU’
By Income Solutions Financial Planners
*Any advice in this publication is of a general nature only and has not been tailored to your personal circumstances. Please seek personal advice prior to acting on this information.
