20s is the age where all of us experiment and hope to grow in our careers. We tend to make mistakes but we also end up learning the best lessons in life. But for a good chunk of us, money is a crucial factor that influences the kind of decisions we go for at this time.
Almost every 20 year old has gone through a phase where they desperately wanted to earn money to build a better future for themselves and their family. But that often gets in the way of building wealth!
Some individuals end up waiting for that until they are old enough to let go of a few responsibilities while the others take risks head on to live a life the way it ought to be lived!
Nevertheless, the best thing you will hear today is that there is no better time than the present to turn it all around and start the building the life you desire. Here are a few reasons why you should start investing right in your 20s.
1. You’ve got time.
We keep hearing the good, old saying - ‘time is money’. As a young adult, making ends meet being the main priority, we seldom get time to analyse things for our future.
But if we use that time more efficiently to take calculated risks, building wealth seems a much more simpler process. It is best to start investing while you are not being run down by loads of responsibilities on your shoulders.
You will get a lot of opportunities and make a lot of mistakes. But ten years down the line, you’ll turn out to be a much more seasoned investor than somebody who didn’t start early.
2. You can afford to take risks.
Age is a crucial factor that comes into the picture while evaluating your risk appetite.
The need for security keeps going up with age and as you grow old, you’ll probably start looking at low or risk free investment options. Whereas while you’re young, you have a lot of income, promotions, and opportunities ahead of you. Therefore, you are in a position to take more risks and eventually, gain higher returns too.
3. You’re a part of the tech-savvy generation.
We depend a lot on the Internet today. From social media to entertainment to even e-learning platforms, our lives revolve around the web all throughout the day.
Being given access to multiple platforms with useful details about the pros and cons of investing, creating wealth, real estate, etc., you can do a much more thorough research about potential investment options than anyone belonging to the previous generation around you.
4. You can plan for your future well in advance.
Haven’t all of us had the one lecture from our parents about planning for the future? Well, the sooner you start planning, the better off you’re going to be ultimately.
Investing money is not just about getting rich. It is also about saving money and building wealth over time. It is about being financially stable to be able to provide for yourself and your family.
All in all, if you put some effort into building a stronger financial foundation right now, you’re definitely going to have a worry-free time later in your life.
5. You can retire early!
Who doesn’t want to retire early and just chill for the rest of their lives? Now that sounds very nice but you’d need to earn a fortune to make that happen.
Starting to build wealth early is the first step towards that ambition. Even if you don’t want to retire early, keeping aside a part of your income will be massively helpful to navigate the post-retirement life.
“It’s never too early to begin investing.”
But no matter if you’re a 20 year old or a 60 year old, we, at Blockrise, are always here to help you out with all your investing needs!