This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
Here’s what happens when you keep waiting
This is the story for many young people; they know the benefits of investing, but they can’t seem to place enough urgency on the matter because retirement seems too far off.
Young people often lack tangible reasoning to start investing early because they’re focused on this moment right now, which can include finishing school, paying off debt, trying to earn a consistent living, working to increase their income, figuring out who they want to be and what they want to do, and everything else that concerns a young 20-something.
But here’s the thing, time flies. I used to be a younger 20-something myself, but not anymore. And something you can’t get back is time.
It’s Easier To Become A Millionaire Than You Think
If you start investing $100 every month at 20 years old, at a 10% annual return, you will have over $1,000,000 by age 65. If you invest $100 every month at 20 years old at a 12% annual return, you will have $1,000,000 by age 59.
And once you save a million dollars, your money grows exponentially laser fast. The next million can come in a matter of a few years.
Yet, most people reject this opportunity.
Do you want to know why?
Time is on our side. We think we have all the time in the world to start saving for retirement or our future selves; hence, there is no urgency to start investing early. Instead, we forfeit the opportunity to become a millionaire. In exchange for becoming a millionaire, we opt into wasting our time and money on low-value priorities (i.e., lifestyle creep, new cars, new homes, new toys).
The Longer You Wait, The More You Have To Save In Less Time
We all know this. Yet, we push the thought to the back of our minds. Hoping somehow it’ll all work out magically in the end when we arrive to the point we are ready to enjoy the nest egg we’ve built up.
If you start investing in your 30s, it’s more work than if you started in your 20s. If you start investing in your 40s, it’s more work than if you started in your 30s. If you start investing in your 50s, it’s more work than if you started in your 40s. If you start investing in your 60s, it’s more work than if you started in your 50s.
Every decade you throw away with procrastination is detrimental to your investment journey.
The sooner you start investing, the better.
Don’t Quit Because You Feel It’s Already Too Late
Then, you have people who quit investing before they even start; they feel it’s already too late.
I’ll just work until I’m dead, use social security (cross fingers), get help from my family, or figure it out on my own, but there’s no point to start investing now. It’s too late.
Just because you started your investment journey late doesn’t mean it’s over for you. Yes, the amount of work to save a substantial amount will take considerably more effort, but this should never discourage you from saving.
Get started today.
A Reminder To 20-Somethings
Right now is the time to start investing.
If you’re reading this and still aren’t investing long-term (I’m not talking about being a day trader, aka gambler), you’re throwing away your best investment years to ride the wave to millionaire status.
Start with $100 a month. It’s not easy to do this if you have low income and high bills, but you won’t regret it if you find a way to make it work. When it comes to long-term investing, one thing you’ll never feel is regret.
If you don’t listen to these words until 20 to 30 years from now, one thing will happen for sure, you will feel a twinge of regret from putting off the one simple thing any non-wealthy or rich person can do to become a millionaire.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.