WHEN SHOULD YOU START?
It is never too early to start. Investing is the smartest way to secure your financial future. The earlier you start, the more time your money has to compound and grow. This simply means that the interest from the money you have invested is put back into your investment, allowing your money to grow faster. Also, people that start early are able to learn and make mistakes early when they have little to lose, while gaining knowledge and experience to help when they have larger sums to invest, increasing their chances of success.
This does not mean, however, that it is ever too late to start investing. You can begin at any time, but the later you leave it, the more committed you have to be to catch up to achieving your goals as you have a shorter period of time to invest. Begin putting money away for your future today!
HOW MUCH DO YOU NEED TO START?
Of course, the right time to invest also depends on your particular circumstances. Contrary to what most people think, investing is not only for rich people with plenty of money; you can get started by investing with just a small amount of money. An ARM Discovery Fund, for instance, allows you to start investing with as little as N10,000.
Investing little and often can considerably increase your returns over the long term. It allows you to take advantage of increases in interest rates and reductions is share prices.
Last Update: June 20, 2017