Why being 30 is the best age to get rich

When I meet with clients in their early 30’s, it is such a great time to ensure that some great results can be achieved. Many people may think that they have 30 years to go, they can plan for that later, but the difference between starting now and starting when you are 40 will be substantial.

Whilst it might not seem like a lot now, and you may be thinking ‘why bother’, the earlier your start to invest, the more it will eventually become. The same amount of money invested over a longer period of time, verses a shorter period of time, will always equal more.

Below I outline 2 different scenarios investing the exact same amount of money, just over different time frames.

As you can see, the same ultimate amount went into the investments, but the end amount is completely different. If you start investing at age 30 instead of age 40, you would have an extra $78,043 at the end.

You are still investing the exact same amount of money, but the longer you have it ‘in the game’ the more it will make for you.

Many people in their thirties are trying to bed down the rest of their lives, and think that they have a long time until they start investing, but if you have just a small amount of excess cash, you can start your investment portfolio sooner rather than later.

The post is from our resident Financial Planner Cara Brett, check out her details in the About Us section.

Posted in: Financial Planning, Investments and Cara Brett