If you are a young person around 20 years old, you will think that setting aside money to invest is difficult. But, you need to realize that it will feel more difficult when you do the next 10 years. Not only because you have to be committed to this, but 10 years from now the funds that you have to set aside will be more because your needs and obligations will also increase. So it will feel more difficult than now. Aside from that, if you’re afraid of the fatal mistakes in your investment, perhaps you should learn more about mis sold investments as well.
Over time, the value of the currency will increase more than you think. As a young person, with you investing a portion of your income from now on, you will get bigger profits in the future. And this can happen if you are observant in utilizing the compounding effect.
Young People Can Still Take More Risk
There is no risk-free investment. If you start investing when you are young, your adrenaline is still ready to take risks and as a young child, you still have the opportunity to try more.
If you invest in stocks, you must know that the market can fluctuate extremely in the short term.
As a young person, you must know the benefits of investing when you are young. You will be able to compensate for fluctuations and benefit from increasing the value of your money over a longer period of time.
Easier to save when you are still free from commitment
Many young people are just happy to complain about the difficulty of setting aside money to save. However, it is not uncommon for young people to prefer to shop and have fun, not to think about whether the next 20 years will be easier, especially in your financial matters, or if the opposite happens.
In fact, as a young person must understand that, the more we get older the responsibility is accumulating. Your funds will be used to pay various payments and other responsibilities. For example, paying housing payments, car payments, renovations, paying for children’s school and so on.