How many hours do you spend scrolling through your social media feed daily? Are you a person who has a timer set for Instagram to remind you when you should stop using it?
Well, we all have been sucked down the rabbit hole, watching reel after reel, checking which new house our friends have bought, where they are going for vacation, what business they started, which phone they use these days for selfies, watching destination wedding pictures of our colleagues, which car they bought recently and what not?
It's about time you should stop scrolling through what others are doing and having that constant feeling of missing out; instead, you should use that hour to focus and realise your own dreams. Now, how will you do that? Proper planning can help you achieve your financial goals; one such step is starting an SIP.
Do you know this quote by Albert Einstein? "Compound Interest is the eighth wonder of the world." To reap the benefits of compounding and achieve your financial goals, you should start investing early.
Now, let's say your friend invested ₹50,000 p.a. at the age of 25, and you invested ₹62,500 p.a. at 30. When you guys turn 50, both would have invested ₹12,50,000 each. Considering you both earned 10% (compounded annually), the value of an investment for your friend will be a whopping ₹54,00,000, while for you, it will be just ₹39,00,000.
So, you see, time is the best wealth creator. Starting early not only gives you the benefit of investing smaller amounts but also staying invested for longer helps garner better returns.
Therefore, avoid delays in investing and start an SIP today!