Plant Early

Document created by matthewd_1 on May 19, 2016Last modified by amara.mastronardi@socialedgeconsulting.com on Dec 5, 2016
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"The best time to plant a tree was 20 years ago. The second best time is now."
-Chinese proverb

 

Like a tree, money can grow over time from something tiny to something substantial. While I would argue that if the best time to plant a tree was 20 years ago then the second best time would be 19 years and 364 days ago, however, I agree with the sentiment. Prepare for things and prepare early. By investing early in life you allow compound interest to snowball and turn what could initially be a small amount into a considerable nest egg.

 

Whenever you have the chance, put away some money for the future. Each month you should budget out a percentage of your income and put it away for a future date, such as retirement. The key is to leave the money for a long time while consistently adding to it, little by little. This is an important move for long term financial stability.

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