If you’re asking yourself “Is it too late for me?”
When it comes to investing, the sad truth is that for many people in their 40s and older, the answer may be “yes.” Waiting too long to start investing can make it very difficult to catch up.
For example, if your goal is to have a Rs.10,00,000 nest egg by age 60, and you assume a 10% annual return, an 18-year-old would only need to invest Rs. 1,850 annually to reach that goal. Meanwhile, a 40-year-old would need to invest Rs.16,000 per year, and a 50-year-old would need to invest a staggering Rs. 57,000 per year.
The key to achieving financial independence is to start investing early. By starting early and investing consistently, anyone can achieve financial independence and secure their future.