At some point in my life as an athlete, I got into debt that almost rendered me bankrupt. I had to think smart to save myself from the situation. During that time, the million dollar question of when to start investing kept popping up in my mind. The fact is, I depended so much on what I got from athletics that I never thought about investing. I lived so riskily since it could have only taken an injury to end my career thereby bringing me down to the ground. With that, I did research on the best time to start investing.
The right time to start investing
The universal rule of the time to start investing is now, but this is just as ideal as it sounds, as not many people are in such as position. Investing is an individual thing, though it is good to start early.
Circumstances play a huge part in the timing on when to start investing. The longer one invests in areas such as the stock market, the better their chances of success. It leads to compound growth whereby the returns from the initial investments are reinvested. This improves the chances of success as opposed to just depending on the original investment and not reinvesting. This does not mean that older people cannot invest; it is never too late. As a general rule, the time is now.
The right amount to start investing
Most people want to wait till they have the exact amount required for them to start investing. The truth is, you do not need a lot to start. You can start with as small as $50 a month as you grow. I started with lower than that and over time I have grown 100 times more. The idea is not even in how much to invest, but how long to invest. The longer you invest, the better the risks you can handle and the more the returns you can get. Investing in long term bonds can also give better returns up to 5 percent.
The right voice to listen to
The media takes the side of Wall Street but only gives precedence to a particular section assuming it represents the rest of the stock market. Listening to the media is not a bad thing, but it can be misleading. Do your research about the market and do not just depend on the media for information. This has helped me know when to invest and when not to. With time, I have learned the kind of voices that I need to listen to and those I should shun.
There tricks and tips have helped me learn when to invest, how to consume information about investing, and how to counter the investment risks. I feel happy that I have something to sail me through the golden days because I have invested early.