Goodwill Investors’ Education initiative!Goodwill’s Eagle Eyes!.
I am 38 and have just started investing in mutual funds, am I too late?
There’s a famous Chinese proverb that says: “The best time to plant a tree was 20 years ago. The second best time is now.”
This holds true for investing also- It is never too late to start the right thing. So, the answer is “No.” You are not too late.
While starting early would have been helpful, you can still achieve your financial goals on time, provided you invest the right amount. This amount will be higher to compensate for the delay
Here is an example:
Let’s suppose you want to invest for a long term financial goal, say, retirement. And, you need a corpus of Rs. 1 Crore by the age of 60 years.
If you had started investing in Mutual Funds eight years back, when you were at the age of 30 years, you would have been left with 30 years to generate the wealth of Rs. 1 crore.
But, now since you are starting at 38, you have 22 years to collect that amount and that means, you will need to invest a higher amount.
Here, we are making an assumption of 12% average returns in Mutual funds.
As you can see 8 years delay means a corresponding difference of almost Rs. 5,000 in how much you would need to invest now.So, go ahead and invest today. Don’t delay it anymore. For all your investments MFs, Equity, IPO, Insurnace.all under one roof- Goodwill Wealth Mgmt.
Click to open an Account : https://ekyc.gwcindia.in/client/
For all your investment needs feel free to reach Goodwill.
Give us Missed Call us on 95516 66674 . mail : firstname.lastname@example.org