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The right age to start investing?

In-between “too young” to properly understand and handle money and “too old” to make it rain like you used to, are the years in which our decisions cost us the most – you can take that literally and as a figure of speech. Financial investments are a huge part of that.

So, what’s the right age to start investing?

Some people are fortunate enough to have investments started on their behalf when they’re still children and take over them once they are legally able to. If that’s your story, good for you! The truth is, when it comes to investing, earlier is better. Now, before you give up all hope because you’re not a trust fund baby, don’t worry, most of us aren’t, and it is NOT too late to start investing at whatever age or stage you are in life. Dalex SWIFT allows you to make deposits into your investment account through your mobile wallet, however, you have to be 18 or older to have a mobile wallet account. So technically speaking, you’d have to hit adulthood to be able to start and manage your own SWIFT investment. However, if you have children under the age of 18, start one for them!

At this point we should probably remind ourselves that there actually is a difference between investing and just saving. Saving can happen through several ways like buying items at discounted costs, or setting aside part of your income towards making a payment, etc. Investing on the other hand is about what you do with the money you save, rather than, let’s say, just leaving it in a savings or current account to depreciate over time (#BetterThanYourBank). Saving essentially stores your money for you, and investing, when done right, grows your money for you.

Goal get it!

Putting financial goals in place, both long term (e.g., retirement) and short term (e.g., getting a car), will help when it comes to deciding how to invest. Young adults have a lot to deal with when it comes to their money. Supporting elderly family (if you’re working, you’re paying!), clearing student loan debt, low-paying entry-level jobs, trying to start a business of your own, etc, really take a toll on finances. Things don’t necessarily get easier as you get older, but for the most part, you learn to deal with things better. As such, how people invest depends a lot on their goals, plans, and needs at whatever stage of life they’re in. For instance, a single person in their late 40s living alone can probably invest more than a married couple in their early 30s, working towards putting up their own home, in addition to the expenses that come with having children. No matter the goal, or how far away it is, investing is a great way to help you get there!

Does SWIFT work at any age?

Absolutely! Dalex SWIFT offers compounding returns at interest rates above the rate of inflation so your money will not lose value over time (spending power), and your principal gets bigger and bigger with every deposit you put in. You can read more about that in our previous blog posts, here and here.

Yes, it’s better to start investing when you’re younger (especially because of the benefits of compounding interest over time), but there’s no hard and fast rule to it, and your strategy may change as you age because that’s just the way life is. Right now, is a great time to invest…

What are you waiting for?