Top Things You Need to Know by Age 30

By all means, the ‘20s’ is the time of glory. You are unstoppable – aiming for the moon and shooting at the stars. You are young, energetic, motivated and enthusiastic enough to conquer the world. The only thing that holds you back is the lack of experience. Though it is really intimidating to try out new stuff, with the 20s being a perfect age for experimentations, it is also essential to make a few wise decisions to better prepare for the upcoming period of practicality i.e., the 30s.

 Good times pass by quickly – so do the bad times – but this phenomenon is usually more evident when we are enjoying the best of our health and spirit and making fantastic memories. Having said this, you can always try out amazing things even at the age of 30 and beyond that – after all, it’s never too late. How- ever, there are a few steps that make the age transition smoother for you, i.e. from your energetic 20s to your more practical 30s. 

This book is a compilation of top 10 things that you should know by the age of 30. Nothing overly complicated, but a few tried and tested hacks that will make your life more comfortable in the long run. While you can still make the most of your 20s, it’s always a good idea to plan the third decade of your life to avoid sleepless nights and better deal with the challenges that are going to hit you sooner than you like. After all, it’s never pleasant to be in a spot where you’d say to yourself, ‘I wish I had known this earlier’. 

  1. 1 Invest Early, Invest Often

    Be smart about money!

     As a young adult, it is really convenient to put off the investment idea because you’ve got plenty of time to invest later. Intimidated entirely by a happening and energetic life, it’s very easy to delay the plan of savings for a future that definitely seems promising. Moreover, it’s common for us to target substantial financial stability before we start investing.

     However, what we often don’t realize is that if we start investing earlier, we are aiming for sustainable financial security for a later age. Because once you are ready to settle down in your life, you’ll find out that there are a lot of expenses that you never thought about before. In addition to the taxes, mortgage, insurance payments, and credit card bills, you’ll have a family to take care of. At this point, your little investments will come in handy, and you’ll be grateful for your personal choices.

    Here’re a few reasons why investing at an early age is a great idea: 

    More Time to Generate Profit from Investment

    They say, ‘Time is money.’ Indeed! And it is even truer when it comes to investment. 

    Investing early brings about some natural advantages that decline with age. By starting younger, you get more years to benefit from the compounding interest policy –a strategy that secures your path to retire as a millionaire or even billionaire. Many people follow this approach to avoid panic right before their retirement age. 

    At a younger age, although your income is limited, and you are cordoned off by an enormous student loan, you can still set aside a small sum of money for investment. What matters most, however, is developing a regular habit of saving. Here’s a simple calculation to highlight the importance of investing earlier. So, if you invest $10k (at a 5 percent interest rate) during your 20s, you can own $70k by the time you are 60. The compounding interest will multiply your investment, profiting you with a substantial amount for your old age. 

    Freedom to Take Risks 

    An investor’s age is directly proportional to the risks he or she can take. As a young investor, you don’t fear taking risks. Even if you fail at something, you still have sufficient time to overcome your loss. As we enter the third decade of our lives, we develop a natural hesitancy towards risks and this tendency increases as we age. At an older age, our best shot is to invest in a risk-free venture, even if it doesn’t promise a huge financial return. 

    As a young adult, you have the power to be more volatile towards your investments. For example, you can invest in a business or an idea that promises a good return. Though due care and proper analysis are required for such investments, there is still enough chance for you to make a fortune if your idea works. 

    Plan Your Financial Future

    Take aside some time to decide where you want to see yourself 30 years from now. The earlier you do it, the better results you are going to get. Visualize your net worth around the time you wish to retire and don’t hesitate to be ambitious. Once you have an ideal number in mind, find out the investment amount and the right options that can help you meet your destiny. You might feel overwhelmed by this calculation, but this is how you can ensure a promising future for yourself and your loved ones. 

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