Wise Wealth Advisors

D.Muthukrishnan (Muthu), Certified Financial Planner- Personal Financial Advisor

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Time is the key

Posted by Muthu on December 13, 2013

“Warren Buffett is a great investor, but what makes him rich is that he’s been a great investor for two thirds of a century. Of his current $60 billion net worth, $59.7 billion was added after his 50th birthday, and $57 billion came after his 60th. If Buffett started saving in his 30s and retired in his 60s, you would have never heard of him. His secret is time.

Most people don’t start saving in meaningful amounts until a decade or two before retirement, which severely limits the power of compounding. That’s unfortunate, and there’s no way to fix it retroactively. It’s a good reminder of how important it is to teach young people to start saving as soon as possible.”

(Source: http://www.fool.com/investing/general/2013/05/24/the-5-most-important-finance-rules.aspx)

One Response to “Time is the key”

  1. Kishor said

    excellent Muthi ji. We said your point. Totally agree with you. Time is the key ingredient for financial success.
    I have experienced the same problem myself…when our mind works against us.

    Regards.
    Kishor.

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