The Five Myths About Investing
Investing is an interesting field. Not only because you make money out of it, and that money can do great things, from buying big shiny objects to letting you go on that holiday that always seemed too expensive. That’s also true about gambling. I speak of something entirely different, however.
Invest early in life, and take risks. Otherwise, you’re finished
This is obviously what they will tell you with a story like this. Amit saved for ten years in his 20s and then stopped. Baldev started saving at the age of 30 and saved for 25 years, but Amit was still ahead. So save as early in your life as you can!
This is balderdash. Mathematically, it is correct, of course. But in reality, things are often different. In my younger years, I would only make enough money to about get by – and I had barely anything left to save; if I’d tried to save then, I would have lost some of the best years of travel, friendships and food; and saved it for what? Growing old when you can’t travel…