7 Tips From Financial Advisors to Help You Never Worry About Savings and PensionsPhoto by Fox from PexelsWhen you are 20 complete freedom is over \u2014 there will probably never be any further such a free period in a person\u2019s life. Studying is finally finished, and there are many paths ahead.You are young and ready for adventure, so the prospect of making serious investments may not please you very much. But laying the foundation for the future is now, then to enjoy your success.Here are seven important investment tips from leading US financial advisors.1. Start investing as early as possible \u2014 compound interest will work for youWhile you are over twenty, it seems that all life is ahead, and financial discipline will not run away. After all, you are likely to live another 60\u221270 years, what a rush?Unfortunately, waiting can be very expensive.Suppose at age 20 you started saving $300 a month and didn\u2019t stop until you were 60. If all this time you managed to invest at 8% per annum, as a result, more than a million dollars would have accumulated in the account. Now suppose you started doing the same thing at age 30. In this case, by the age of 60, your account will have only 440,445 dollars. It turns out that the first 10 years cost you 550 thousand dollars, even though you have not dug up only 36 thousand dollars.This is how a compound interest works, which Albert Einstein once called the eighth wonder of the world: the interest that you receive as a result of investments, in turn, accrues interest, and all these amounts add up.2. Do not stop at just investingYes, early investment is the foundation of future wealth, but still, it is not a panacea. As Seattle financial adviser Josh Brain points\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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