Investing early is crucial for building wealth, as shown by the power of compound interest. By contributing small amounts at a young age, you can allow your money to grow significantly over time. An example illustrates that investing $200 a month from age 22 could lead to over $250,000 by age 65, despite only contributing $24,000. This highlights how time allows investments to multiply, making consistent early investments more effective than larger investments made later in life. Starting early gives your money decades to be effective, emphasizing that it's never too soon to begin investing.
You don't need a six-figure salary to start building wealth. You don't need to "time the market" or know the latest stock trends. What you need is time.
If you're young (or even just younger than you'll be tomorrow), now is the best possible moment to start investing.
It's not about how much you start with. It's about giving your money enough time to multiply. That's why time in the market almost always beats timing the market.
When you invest money, it earns money. The next year, you earn returns on both your original investment and the returns from the year before.
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