Success Path: Why You Should Start Investing in Your 20s
For some reason, people fall into the assumption that investing is one of those things that you are supposed to start doing when you are a 40-something year old. But in reality, there is no magic age for when you should start investing. In fact, there is no specific age, degree or amount of money you need to get started. Simply put, investing is one of those things that is best to start as soon as you can – no matter how young or old you are. Although, the longer you wait, the older you’ll get and the less time you’ll have to save up enough money to be able to retire on. Besides, who still wants to be working into their 70s and 80s? I certainly don’t if I can help it, which is why investing is so important!
If you are only in your 20s and just starting out in your career (or even if you’re still in college), you may feel like you have all of the time in the world. And while it may seem that way, I can promise that there is no better time to start investing than right now. Investing is one of those things that you can start at any time during your life, but the earlier you start the better.
Here’s why I think your 20s is the perfect time for you to start investing.
Time – While it may seem like your age puts you at a disadvantage – you most likely don’t have a lot of money, you don’t have as much life experience, and your credit isn’t quite to the point where you’d like it to be – you do have one thing working for you that you can certainly take advantage of! You have time. Compared to your parents, who are probably in their 50s and 60s, time is on your side. Don’t be afraid to start real estate investing now. Even though you don’t have a lot of money or experience, starting now will put you lightyears ahead of someone who starts investing later on. Plus, investing now will allow you to be able to easily retire as a millionaire 40 years down the road. Now, you can’t tell me that’s not worth it!
Will Power – You’re only young once, and your and will power and motivation are the strongest when you are young. Even though some factors may not be in your favor because of your age, such as money, life experience, etc., your will power is much stronger now than it ever will be in the future. Overtime, people tend to lose motivation, and they become more and more content with their current situation as they age. Don’t be afraid to use that youthful motivation and willpower to help you on your way to real estate investing success.
Resources – You are so lucky to be in your 20s right now, as you have loads of information at your fingertips! Make use of technology by watching videos, reading blogs, joining forums, and gaining as much knowledge as you can on real estate investing. Tarek and I started real estate investing in 2010, only 7 years ago, yet we didn’t have nearly as much easily accessible information as you do now. Instead of spending time reading up on your latest Facebook friend’s trip to Hawaii, spend time educating yourself on how you can get the best offer on your first flip.
I hate to break it to you, but you are only getting older by the second. Don’t wait to get started in real estate investing any longer. If you are feeling overwhelmed, find a mentor who can teach you the ropes, they’ve been in your shoes and can offer you invaluable support.