“You can lead a horse to water, but you can’t make it drink”
We all have heard this phrase millions of times. However, you realize the relevance and appropriateness of it while convincing your kids about regular savings.
“Oh please dad, please! I have just started earning; let me spend the money instead of savings!”
“I don’t want to look at my bank balance growing instead of enjoying it”
“Dad my salary doesn’t allow me to even think about saving a few bucks. I will do it after five years”
These are a few popular dialogues uttered by Generation Next.
However, investment experts think differently. They feel that one should start investing from the very first month he or she gets the salary.
Regardless of the amount you receive on the first day of the month, some part of it must go to a place where you can’t withdraw easily.
Why young earners should save?
The habit of investment has nothing to do with your age (or your earnings as stated above). Particularly, the young earners are all the more required to save for the future. Here are some rationales.
To face uncontrollable situations in a controlled manner
What will be the job scenario after five or ten years from today?
The field you are proficient in will survive or you need to learn new things?
Will there be a revolutionary change happen which will make your skills obsolete?
Well, you don’t know what will happen tomorrow. Hence, you need money to cope up with unseen situations.
Consultants such as Iplan can work with you to decide the right investment plan. With their immense knowledge in the niche, you get the best advice.
To plan your retirement early
Work pressure is so high today that it is impossible to work up to the age of 58 or 60. Hence, people are planning their retirement at the age of 50 or even 45.
However, it is possible to plan it further early (at the age of 40) if you start saving from the first month. Iplan consultants can help in deciding the most suitable investment plan.
To live life king size
Yes, everybody aims to upgrade the lifestyle to the next level. However, it is not possible unless you have sufficient money in hand. When you start investing early when the liabilities are limited, you get the cumulative benefit.
In short, young earners must start saving early for a happy and bountiful life!