A wise man 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, so thus investing is like golf ?
Investing, surprisingly, is similar to golf. The sooner you start the better you will get and the less work you will need to improve your investments. Time is always the most important variable when it comes to saving and investing.
How is Investing Like Golf ?
Example A Young Man
- If someone puts $2,000 away 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
- A more senior person decides they need to start saving later in life and 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!
_Maybe the old geezer (at 40) had already purchased a house and a car and/or married and raised some kids. I sure he at least lived with his (or her) money during those past 18 active years.
True, good point, there are many good arguments, my point is, let TIME build your wealth too!