It's never too early to start taking control of your finances and and invest. This is a statement CEO of Sygnia, Magda Wierzycka fully agrees with.
She says everyone should start investing as soon as possible. There are two determinants to how much money you are going to retire with at the age of 65, the period in which you invest and fees you pay.
The biggest mistake that people do is that they do start investing early but start withdrawing their money during the course of the investment spending it on holidays and cars.— Magda Wierzycka, CEO of Sygnia
How to invest?
- Choose high growth and lowest fees
Wierzycka advises that anyone with an income should start looking at their income as 20% less and invest.
20% of whatever salary I ever earned I would put into retirement fund and forget about it. I always thought of my salary as 80% of what I was actually earning and that's what I could live of.— Magda Wierzycka, CEO of Sygnia
To hear more of how you could start investing, listen below:
This article first appeared on CapeTalk : Adulting 101: How and when to start your first investment