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NEVER Too Late To Start!

We all should have started sooner, myself included, but that's not the same as it being too late to start!


Man aging knowing he should have invested sooner

In real life, not social media, the average age when a person starts investing is 33. If you started when you were 23 then you have a decade advantage, which is great, but if you are starting at 43, 53, 63, or even 73, it's still not too late. Let's walk through two hypothetical examples:

  1. 73-year-old Widower: Let's take a 73-year-old widower, Eleanore, who receives a $100,000 life insurance payment and has a life expectancy of 79. If the market produces consistent and average returns for those six years, that $100,000 could grow to be approximately $177,000, assuming a 10% return. If Eleanore lives until 90, that same sum would grow to be $505,000. This money could be used to pay for long-term care or gifted to children, grandchildren, charity, etc. who would be grateful to receive that amount instead of the original $100,000. Another way that Eleanore could make a difference with that $100,000 is through a 529 account for educational expenses. In this hypothetical world, let's assume Eleanore has two grandchildren. If at their birth she invested $50,000 in each of their 529 accounts it could be worth approximately $170,000 when they reach the age of 18, assuming a 7% return. This clearly demonstrates that it's never too late to invest and make a difference!

  2. 50-year old with $0 Invested: In this scenario, let's assume George is 50-years-old and plans to retire at age 65. George is starting with nothing, but has the ability to max out his 401k retirement account, at $30,000 per year, including catch-up contributions. At age 65, he would have approximately $953,000, assuming a 10% return. Think about that for a minute, George had $0 at age 50 and could be retiring with $1M at age 65.

Depending your financial situation, these examples may not be "life-changing" sums of money, but it's always better to start later than never at all.


Unfortunately, it's also always easier to make excuses, not start, or dwell on the fact that you should have started 10, 20 or even 40 years ago, but you can't change the past.

Meme of Back To The Future about investing

Ultimately, investing favors the young who have multiple decades to grow their portfolio, but that doesn't mean you shouldn't start!


If you need help getting started, regardless of your age, please schedule a free introductory meeting! For less than $5/day, it’s the most affordable way to access professional help.

Disclaimer: The information in this post is provided for your convenience only and is not intended to be treated as financial, investment, tax, or other advice. The information is intended to be educational and is not tailored to the investment needs of any specific individual.  It is also not intended to be relied upon as a forecast and is not an offer or solicitation to buy or sell any securities or to adopt any investment strategy.  The opinions expressed are those of the author.  Reliance upon the guidance and information in this presentation is at the sole discretion of the individual.

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