8. Swabeng Dilemma: Does age matters?

In Love and Romance, people say age does not matter as long as they love each other. Isn't that sweet?

However, that is not the case when it comes to Financial Planning.

I'm not saying that if you're old, don't plan. What I mean is, time may not be on our side anymore especially if we keep on contemplating and procrastinating when is the time to start.

Wise men say the best time to start your financial freedom was yesterday. The second best time would be today. And the worst time would be tomorrow.

Let me share you an example some of the popular excuses why most people hold of starting their way to Financial Freedom and their corresponding ages

20's: I'll do it next time since I'm still young and have a long way to go. 

Most millennials have the mantra of YOLO (You Only Live Once). Nothing bad with it. But if you neglect its greatest advantage (TIME), you may never be able to fully maximize your gains in the long run. 

30's: I need to save-up for my wedding and expenses for my future family. Maybe next time. 

Well most newly-wed couple would say building a home and having kids are their top most priorities. Again, there is nothing wrong with it as long as you know how to prioritize and be able to save and invest whenever possible.


40's: My kids are already studying. I'd probably start saving when my kids are finished schooling. 

This is where it starts to really get difficult. Your kids are growing which means they would need more of your financial assiatance.

50's: It's really expensive to send my kids to college. I may not have enough for investment. 

You may be probably in your 60's by the time your kids are done with college. I'm sure this is the age group where financial responsibility is at its heaviest. You may also begin to feel weak and tired more often than when you were in your 20's or 30's. 

60's: I guess this is the right time to invest but I'm retired already. 

Come on! You had 40+ years to start but you didn't even make that first step. While I know its not yet over till its over, but realistically speaking, it is. Even as early as your mid-50's you may encounter some health problems ranging from the not so serious to the critical ones (you know what I mean)

You have to remember (and make sure to remember) that TIME is MONEY You can get more money but you cannot get more Time. 

The Best time to start SAVING and INVESTING is NOW and NOT TOMORROW!

So you know now that age matters when it comes to saving and investing because of the power of compound interest.

Till my next post.