Canadian Personal Finance Blog

A wise man I know once told me that the best way to become a better Golfer, is to go back in time and start playing when you were 12 years old.

Now, investing surprisingly is similar to golf in this respect. The sooner you start the better you will get and the less work you will need to improve your investments!

Concrete example A Young Man

• Puts $2,000 a way every year in an investment that grows by 6% annually on the average starting at age 22 until he is 55.

Example B An Old Geezer

• Puts away $6,000 a year starting at age 40 until age 55, same growth rate.

Who has the most money at the end of all of this?

Would you believe the young man might have $55,000 more money by the time he is 55?

Keep this in mind! –C8j