Aging

This year I will celebrate my 42nd birthday. And if people ask me, if there is anything I regret. I will not answer them, selling Bitcoin at 200 USD, back in the day... But something entirely different. The fact that I didn't start saving and investing at a young enough age! And I really mean that.

Nothing is lost for me, far from that, but had I been investing my earnings and money, early enough, maybe at the age of 18, I would have been a very rich man, right now. No matter how much Bitcoin, or other Altcoins I would have gathered in the mean time. The fact is, that those years are gone, and I can't rewind life. The only thing I can do, is follow my own advice, at the age I am now. And that is: "Keep on saving and investing, no matter what!"

Compound interest is a miracle

Imagine, that I would have saved a 100 USD every month, since the age of eighteen, and I would have put it all into the S&P 500. I would have had a return of around 10 % per year on a sum of 1200 USD every year, and let that compound over about 25 years. If I had done that, I would have an extra 135000 USD, which would bring me once again around 13500 USD extra every year, because of the yield of the S&P 500. That is a huge extra sum, added to the money I am owning right now. Which of course grows every month too. But the extra interest it generate, is lost for me forever.

So, once again, "Keep on saving and investing, no matter what!"

There is always a reason not to save and invest, life is expensive, spending it on materialistic things you don't really need, spending it on expensive dinners, you name it. But, the key is, to keep on saving and investing, even when times are tough. You do that by cutting expenses. Some permanently, some temporarily. But if you do that, you will have a wealthier life later on! Consistency is key!

Mark my words!

Sincerely,

Pele23

Posted Using LeoFinance Alpha