I’m turning 42 this year and I wish I started investing sooner!
I didn’t start investing until my mid-thirties. Imagine what an extra ten years in the market could’ve done! But guess what? The thirty year old wishes they started at twenty. The forty year old wishes they started at thirty. The fifty year old wishes they started at forty. And it goes on and on. So really, the best time to start is now, whatever age you are.
Here are some other things I wish I knew sooner.
- It’s okay to not know everything. Sometimes we get stuck because we think we have to know everything before we start. But with investing, it’s better to start as soon as you can! Time is your best friend, and time in the market is irreplaceable. Of course, it is important to learn, but it’s better to start as a beginner and learn along the way, rather than to wait until you feel like an expert. Because experience is really the best teacher. And even the experts are still learning every day!
- Being consistent is more important than being perfect. Not every investment will be a winner. I’ve had my share of flops. But it’s important to keep going. And you don’t need to wait until you’ve saved up a million dollars before you start. Investing small amounts consistently over time adds up. I meet all kinds of people every day who tell me they’re investors - market vendors, security guards, teachers, nurses. They invest a little bit every month, and watch that compound.
- Research is your best friend. Remember I said it’s okay to not know everything? Well that doesn’t mean you shouldn’t try to learn anything. Google is free, and most of my content is free too! Research the companies you invest in, the industries you’re interested in and your country’s economy and trends. Everything matters. You make better decisions when you’re well informed. You might not know everything, but you should know something.
So to recap, the most important thing is to just start. And if you need some help, take my Investing for Beginners masterclass.