Making Money Is it too late to start investing? Ask Us Anything
Jun 3, 2024
Topics discussed include starting investing at 50, saving during a cost of living crisis, de-risking investments, challenges of saving in an expensive market, navigating financial challenges like childcare costs, income thresholds, and rising interest rates, and strategies for increasing wages and maintaining savings amid changing circumstances.
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Start Investing Now
- Start investing now, even if you're older, because the best time was yesterday.
- Think of retirement as a longer period requiring ongoing investment, potentially up to 40 years.
Risk Management
- Consider de-risking your investments as you approach traditional retirement age.
- If starting later, you might accept more risk to catch up, potentially investing 100% in equities.
Retirement is a Transition
- Working even a few extra years can significantly extend the duration of retirement savings.
- Retirement doesn't have to be an abrupt stop; consider part-time work or consulting.