Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
What Is the Best Age to Begin Investing?
Guest Post | Dec 9, 2022
Image: Pixabay/Tumisu
Some people think about investing at a young age, while others only start considering saving money when retirement is around the corner. The general consensus is that the earlier you start investing — the better, but in reality, it is possible to invest successfully regardless of your age. If you want to invest money online and earn passive income for a certain goal, you can do that at any age. Read along to find out about the prime time to start investing.
When Should I Start Investing?
The short answer is that you should start investing right now if you have not already, as long as you are 18 or over. Luckily, investing is possible for all demographics, but your objectives and the amount of investment capital will differ depending on your age. One of the most popular goals for investing is saving up for retirement. If this is the objective, here is how this will work for different age groups:
- Twenties – there is as much time before your retirement as it could possibly be. You can experiment with different investment strategies and invest in various projects and markets. You can take higher risks for higher returns.
- Thirties – a few decades left before retirement still. People in their thirties usually have more savings than those in their 20s, which opens more room for investing and taking risks.
- Forties – there is still enough time before retirement, but you should definitely have a plan by this time to invest efficiently and save up the necessary amount of money regularly to have the desired capital in time.
- Fifties – believe it or not, people still can invest in their retirement in their fifties. However, it is recommended to cut on the risks and invest slowly but steadily toward your goal.
Of course, saving money for your retirement is considered a long-term investment even if you are in your fourties. However, there are many other investment objectives, and you should always consider your time limitations and starter capital carefully.
Investment Solutions
There are many different ways to invest, and each of them can be fitting for your specific age group. Nevertheless, it is always better to explore all the options and become familiar with the investment solutions available. Here are some of the most common money online investment types:
- Shares – while other investment solutions are safer and more stable, shares can provide great returns. As they are usually riskier and more expensive, it is advised to invest in stocks if you have some experience already.
- Bonds – when buying bonds from a business, you are essentially offering it the funds that they need to raise for a certain cause. In return, you receive regular payouts.
- Investment funds – many convenient services collect money from different investors and direct it towards different markets or companies. Quanloop is one of the alternative investment funds suitable for beginners as well. There are different investment plans based on the level of risks that you can use to invest more securely or aim for higher returns.
- Crypto – cryptocurrencies are extremely popular today, and while they can be used as a money alternative to paying for products and services, people often use them simply to invest their funds. With cryptos, it is common for certain tokens to grow in price rapidly and unpredictably, which is why holding on some coins might pay off if you are patient.
If you were out of ideas on where to invest money online, you can browse some of the options listed above to find what suits you best.
Bottom Line
Of course, it is best to start investing when you are young as you can learn from your mistakes. It is also possible to invest a small amount and let it grow over time even with a small return rate. But not everybody had the luxury to invest money when they were in college or struggling to pay rent in their twenties.
See: Investing Your Money: An Easy Guide For Beginners
People in their thirties and forties often have more means to invest in different projects and diversify their investments. In any case, experts advise that you should start thinking about investing now and look through your options available today. With convenient online investing, this process becomes accessible to everyone.
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