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RE: Why You Should Start Investing in Your 20's

in LeoFinance • 3 years ago

Nice article and good advice. I started investing in my early 20s only because I landed an excellent job with equally advantageous benefits, one of which was a 401(k) savings plan. I was hesitant at first to place a weekly amount into the plan until other, long-time co-workers advised me of its potential benefits due to the company matching 100% up to a certain amount.

And the key was, as you say, you can start small. I did. When I read my monthly statements and was surprised at the growth, I increased my participation.

Then, only after I actually needed it five years later was I happy I took the plunge and enrolled in the savings plans. I didn't have to borrow a substantial amount from financial institutions, repaying with high interest rates. I borrowed from myself as withdrawals were allowed.

The best decision I ever made. I also advised my children to do the same once they finished college and were employed. So they have been investing since their 20s.

Thanks for sharing.

Take care.

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3 years ago in LeoFinance by
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     3 years ago  

    Nice article and good advice.

    Thank you.

    I started investing in my early 20s only because I landed an excellent job with equally advantageous benefits, one of which was a 401(k) savings plan. I was hesitant at first to place a weekly amount into the plan until other, long-time co-workers advised me of its potential benefits due to the company matching 100% up to a certain amount.

    Now, you started off on the right foot and that's enviable. I am glad you had good people around who gave you that valuable insights into the world of 401(k) and I am happy you took that advice.

    I understand your hesitation, it's not easy to put money away like that... We all suffer from loss aversion. Even when the money is ours, we still have this feeling of losing.

    But it's good that you moved past that hesitation and put those percentages away for your future. Well done. ❤️

    And the key was, as you say, you can start small. I did. When I read my monthly statements and was surprised at the growth, I increased my participation.

    Oh wow, you found the benefits outweighed everything else you would have thought of doing with the money... Nice one.

    Then, only after I actually needed it five years later was I happy I took the plunge and enrolled in the savings plans. I didn't have to borrow a substantial amount from financial institutions, repaying with high interest rates. I borrowed from myself as withdrawals were allowed.

    Gosh. This is amazing. I am so proud of you right now. 🥰🥰

    The best decision I ever made. I also advised my children to do the same once they finished college and were employed. So they have been investing since their 20s

    You are doing well. Soon, they too will see the benefits and will be glad they started early.

    Thanks so much for being here, and sharing your thoughts and experiences with me.

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     3 years ago  

    You're welcome.

    !LUV
    !LADY

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       3 years ago  

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