It is a simple fact. The earlier you start planning for retirement, the more money you will have invested. Chris Linkas, a financial advisor at a UK-based investment group, has more than 25 years of finance experience and knowledge. He uses this knowledge and experience to convince civilians and military members alike how to start investing early and save as much money as possible.
According to Chris Linkas, these are the benefits to investing early.
- Improved quality of life: Military member who invest in their retirement plans such as a 401 (k) or thrift savings will improve the quality of their retirement years. They will have more money to use. An improved quality of life is not just for military members. Non-military members can invest early and see an improved quality of life that includes less worrying about retirement funds.
- Take Risks without having to Pay for it Immediately: Investing is high risk. In fact, the more volatile the higher the risk. Some ventures may end up as failures and cause you to lose money. According to Chris Linkas, you have the freedom to endure these risks and lose money when you invest early. You can recoup your losses later. If you wait and invest later, you run the risk of losing money you cannot get back later.
- Improved Spending Habits: Investing early keeps you more disciplined spending habits like making a budget and eliminating some spending.
- Be Ahead of other investors: The earlier you begin investing your money, the better the investment opportunities available to you.
- Get the Compounded Interest: According to Chris Linkas, compound interest is the type of money earned on interest. When you invest, your money earns interest. That interest also earns interest. Under the right financial conditions, you may earn three times the amount you would just on your compounded interest.
Those who have the money to get started investing should not wait until they are older to begin the whole investing process. They should start investing while they are young as there are a number of reasons why it is smart for a person to start investing their money early. When a person starts investing while they are young, they have the chance to take risks with the investing that they do. They do not have to take everything as seriously as they would if they started investing at a later time. Chris Linkas got started in the financial world not long after getting out of college, and those who choose to start investing at a young age can do well with their investments as he has done with his career.
When a person starts investing early, they will begin to receive compound interest. This will really make a difference when it comes to the amount of money that such a person will have in the end (http://observer.com/2011/05/the-power-100-2/). When a person starts investing at a young age, they get to be a step ahead of everyone else and they get to keep their life on track in that way. They will appear ambitious and like someone to look up to. Chris Linkas has shared that he admires his sister because of the way that she works hard both as a mother and in her career. Those who invest at a younger age are to be admired for their ambition and for staying a step ahead of the game.
Those who invest early will change their spending habits as they learn through the investing that they do, and they will also change the way that they are living as observed by Chris Linkas. Their quality of life will get better as they invest and bring in money. Chris Linkas believes that those who are active in the business world will be ready to get on an idea when they see one. Those who start investing early will learn a lot through the investing that they do and that will help them to get better and better at investing.