Rajeev (name changed) is a good friend of us. He recently turned 25 and even got a job so we recommended him to start managing his finances, tracking his money and invest for the future. His response?
“I am 25. Why so early?”
We explained to him how the Power of Compounding can be of utmost help in building his investments. Best Financial Adviser Kuber Mindz advises you why it is prudent for you to start managing your finances and investing when you are in your 20’s.
Most people start their careers in their 20’s. When we are in our 20’s we are still that college going kid but just a bit more mature and responsible. We may not realize but our 20’s are the BEST time to take control over our finances, save money, invest for the future, get insured, be responsible and explore.
- Time is on your side
Even if you are 29 years old, you still have 30 years of working life assuming you will retire at 59. These 30 years can be put to best use by investing. The earlier you start, the more time you give for your investments to grow and beat inflation. Smart Financial Adviser Kuber Mindz says that you need to invest early and watch the magic of the Power of Compounding.
- Ample opportunities available
When you are 25 you have much more opportunities compared to when you are 35. By opportunities, we mean opportunities for career growth and development, improvement of personal finances, growth of investments and sufficient insurance products at a lower price.
- You don’t have to raise a family yet
In most cases, if you are in your 20’s you are yet to get married and if married, yet to have children. You don’t have to repay debt (in most cases), bring lots of items home, take your spouse and kids for vacations, etc. Since you don’t have family responsibilities, you can direct most of your income towards investing for a better tomorrow.
- Perfect time to get started on finances
Your 20’s are the perfect time to get started on managing your personal finances. If you neglect this now, you are digging your own future financial grave. Manage your finances, track your money, invest and insure accordingly and take professional advice when needed.
- Take risks and challenges
A young and energetic you wouldn’t mind taking some risk and accepting new challenges. You can explore new avenues and opportunities. You can learn from past mistakes and change your method. It is time to experiment!!
For more information visit www.moneymindz.com or give a missed call to 022-62116588
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