Your twenties is the time to go travelling, shopping, and enjoy a period of financial freedom. However, did you also know that your twenties is the perfect time to consider investing? It may not seem like a top priority, but smart investments now can prove to be very beneficial later.
Time is on your side
The earlier you start stock market investing, the better you will be in the long run. With the right investments, money invested can increase substantially over a few decades. In Australia, the average age for retirement is 63, so by accumulating money over four decades, you are helping to set yourself up comfortably for the day you finally get to kick your job.
Risk taking is not as detrimental
A poor investment choice in your later years can seriously hurt a lifetime of savings, throwing retirement plans further back. However, one of the main benefits of investing at a young age is that if your investments fall, you still have plenty of time to rebuild. By having years of income earning ahead of you, you can afford to take more risk in the stock market.
You learn from your decisions
By taking responsibility for your investing, you gain what your parents love to call ‘character building’. Investing your money and learning first-hand what works and what doesn’t is a fantastic way to understand how your savings will work best for you long-term.
Your nest egg will thank you
It may seem like a lifetime away, but the time will come to finally crack open that well nurtured nest egg. You can go on holidays, pay off more of the mortgage, purchase expensive items – the options are endless.
Want to learn more about investing in the share market? We are here to help! Schedule a call with a Product Consultant on 03 9585 0300 to chat about how to begin growing your nest egg for a better future.