N Is For Now

No, really, NOW!

Start doing something right now that can help you start saving, start investing, start owning your life. It doesn’t matter what stage of your life you are at, you can help yourself move towards the Freedom Formula, and you will get there sooner if you start now.

That’s not just a rubbish motivational “there’s no time like the present” speech.

It’s true. The power of compound investing is such that for every thousand dollars you don’t save today, you will need to save sixteen thousand dollars in 28 years’ time. And thirty two thousand in 35 years’ time. And sixty four thousand dollars in forty two years’ time, invested at just 7% per year.

Let’s imagine Jack thinks he can’t imagine saving right now. He wants to spend. He’s twenty one years’ old and he wants “to enjoy life”. He figures he will start saving in his thirties, at thirty five.

Jill also can’t afford to save yet, but she plans to start before she gets out of her twenties, at twenty eight.

You know better, and start saving today. For every thousand dollars you have saved, Jill will need to save two thousand and Jack will need to save four thousand. That’s ok, they say, they will be earning more by then, so it will be easier. Maybe… but it will be easier for you because you have learned how to do it.