Start Investing When You Start Earning.
So there's this popular notion around me that the best time to invest is when you begin to earn something tangible or big enough to take out from and invest. This is a notion I don't agree with especially because of the experience I gained when I was earning so little from my previous job. As at then, the job could only cater for my feeding nd transportation but I still found a way to save up from my earnings to invest.
No one truly knows the future and we can only speculate what might happen. In my opinion, to wait until when we get a better job that pays a fat salary before investing isn't the wisest thing to do. We would be risking our future that way and we would most likely regret it. Since the earning from thr job isn't so much, what we invest would obviously not be much as well, but could help secure our future.
For example, imagine if someone earned $30 a month in 2008 which is way too small, and was lucky enough to have invested just $1 a month for a year in Bitcoin. If he does this for only two years, he would be worth millions of dollars today. Yeah, thr amount he invested was also quite small but it gives an opportunity that would be entirely absent if he didn't invest.
As our earnings keep increasing and there's progress in our jobs, we can increase what we invest, rather than wait till we hit some jackpot before investing. The point is to keep building regardless of the season and situation. It's way more beneficial than procrastinating and waiting for the best time to start Investing.
Definitely true, start investing early no matter how much you can afford. I always tend to say take 10% of your income. So if you earn 10$ invest 1$. If you do that every week that’s already 52$ a year. Not much but you start building.
True words right there. We really dont have to be start Investing with so much. As time goes on, we get a better understanding of investing and maybe improve on our investment strategies later with the experiences we've gained while investing with the little we had.
It's like the 10% buckets role.
From what you earn (net income)
10% in long term investment
10% education
10% pleasures
10% short term investments
10% eventual self-entrepreneurship
The earlier we start investing the earlier the compounding interest begins to work
The 10% buckets role seems like brilliant idea and own I should implement henceforth. And yeah, as for investing and compounding, the earlier the better.
Thanks for checking out my post and sharing your thoughts.
The fact that you have to wait until you earn much before you invest is a bad move in my opinion too.
One can start small even if it's 5% or 10%. If the money is put into a interest compounding account, then, the magic of compounding will be your reward.
So there's isn't a good or bad time to start. Start as soon as you start earning. It will multiply.
Posted Using LeoFinance Beta
I actually just began practicing investing a percentage of my earnings. I just invested randomly but massively back then even up to 50% of my monthly earnings, but it felt convenient. It's really a wise thing to do investing a percentage of our earnings to help with calculations and to have a better understanding of our investment. Nothing is sweeter that compounding as well.
Oh, those were awesome financial moves in my opinion. And I am glad you haven't stopped. Compounding will definitely be your reward. Congratulations on this feat. I motivate you to do more. Cheers.
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