Busting Myths about Investing
Why Aren't You Investing?
What are the reasons that people shy away from investing?
There’s a perception that investing has to be this terrible, complicated thing that is going to take hours of my time and it’s going to be a painful process of self evaluation. People put it off, then they start to feel guilty about it, and when you feel guilty about something, you don’t want to think about it. So you put it out of your mind until maybe tax time comes around.
People don’t realize the importance of investing especially when you’re young. It seems like a problem that you can face next year and it will be just as good. Procrastination doesn’t seem to have an impact, and of course we know that’s not true. If you start saving when you’re 25 as opposed to when you’re 35 and you’re putting away the same amount each month, say $100 a month, you’ll end up with twice as much in your retirement. So it’s hugely important to start young. The impact is really great.