Its never too late to start investing. It is better to start in your 20s, but your 30s is still a key time.
- Don’t be complacent
- A small minority of people in their 20s save and invest hard, and are in a great position by 30 or 35
- But I have seen some get complacent and don’t continue the habits.
2. Invest aggresivley
- Especially if you didn’t start saving in your 20s
- Only investing 10% of your salary at 35 won’t be enough if you haven’t started investing from your 20s
3. Don't Marry just for the sake of it
- Sounds obvious but many people get married just because they are 30 or 35, and that harms the finances if they divorce
- Also failing to talk about money before marriage - as money is one of the main reasons for divorce.
4. Be careful with the property
- Only buy the property if it is cheaper than renting AND you don’t plan to leave your city or town
- Renting is cheaper in some countries and in some situations
- Don’t go for buy-to-let unless you are a professional
5. Track whatever you spend
- Track how much money you spend
- And where
- This simple exercise may save you a lot of money, and give you more to invest
- Using paper and pen can be effective for this exercise
- Also, track your financial goals on paper - you are more likely to be motivated
6. Take care of your body/maintain good health
- This is useful not only to reduce the cost of ever-increasing medical bills but to ensure that you are able to work and generate income.
- This is the most important one. If you are healthy then only you can generate income.
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