Is the right time to invest as early as possible? Or should you wait to come close to middle age before you start saving up? Is there are impact of age on investment strategies? Do people become better investors with age or when they are young? These are some of the biggest questions running through a person’s mind when they talk about when to start investing.
Because of the confusion regarding the best time to invest, people waste most of their life waiting for the right moment. This is why Igor Cornelsen,one of the most successful Brazilian businessmen, is here to advise people on the topic –
Early Investors Save More
The earlier you start investing, the more you are saving up for your future. Igor Cornelsen believes that early investors would not only save more, they would also plan about their future in detail since they would end up having enough money to have a comfortable retirement. Ultimately, it all depends on the kind of retirement a person is hoping to have. A lot of people like investing because there is no age limit to it.
Young Investor Are Ambitious and Take Risks
Resume showcases that Igor Cornelsen has been investing for decades and he is an expert on the subject. One thing that he has noticed is that young investors tend to have a “if you take more risks, you will gain more” attitude which can lead to problems. Investing is all about analyzing a situation and acting accordingly. Often, there might be times when a low risk and safe approach would be best. However, being ambitious and taking risks can lead to great rewards for a young investor, if there is a ceiling limit to it.
Older Investors Are A Lot More Experienced
Nothing can replace good research and knowledge about investing, no matter how old the investor is. As time passes, older investors tend to equip themselves with great tricks and strategies. Then, they are comfortable enough to take a few risks and make some precious bucks. Young investors, on the other hand, might not have that knowledge base to begin with.
Investing Later Involves Hardships and Keeping Up With The Plan
If someone starts investing late and wants to have a secure retirement, they would need to save quite a lot in order to reach that goal. There would be a lot of catching up to do because investing was put off till later. In fact, many older investors have to cut back on their lifestyle to ensure that when they don’t have a salaried job, there is no dearth of money. This idea of keeping up could fuel investors to start early.
Ultimately, Igor Cornelsen says that people should know their final goals and take decisions accordingly. If someone is still hoping to work or pursue a paying hobby after retirement, there is no point in saving big early on. On the other hand, if someone dreams of a life of comfort and security with no work involved post-retirement, saving early is imperative.