Allan Gray have recently published an interesting article emphasising the importance of saving early.
You will find the full article on our website (click here). We have included a summary for your convenience below:
- Starting to save earlier greatly reduces the cost of reaching your goals.
- Each month you put off saving increases the amount you will have to save in the remaining months.
- Saving earlier allows maximum benefit of the power of compounding.
- The right time is now, don’t try to time the markets.
- Time in the market is worth more than timing the market.
- Adopt a long term approach.
- Choose an investment that suits your risk profile and stay invested to reap the benefits.
- Switching can significantly detract from value.
- Ride out the inevitable short term ups and downs, allow the power of compounding to increase the value of your money.
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