I often get asked “is it too late to start?”. Once someone DM’d me asking me this. I asked him how old he was and he responded “23”. I do feel a little bad about that interaction, because I reached through my phone, grabbed him by his shirt with both hands and violently shook him back and forth while screaming into his face “YOU’RE A LITERAL BABY INFANT!” I feel bad about it because you’re not supposed to shake babies.

But for you non-baby infants, I get it. It feels like you’re behind. WE ALL DO. But here’s the resounding answer to whether it’s too late. NO!

FIRST, you still have a TON of life ahead of you. If you’re in your 40s, you have 40ish years of life left ON AVERAGE. That’s a looong time to live and plan for! Even plenty of time for COMPOUND GROWTH to fuel your investing into your upcoming decades. Second, you’ve got some BIG THINGS going for you later in your career compared to earlier.

1.) Focus. If you feel like you’re late, then YOU KNOW what it’s like to be in your twenties. Lots of stuff going on, and not much of it is spent retirement planning. That means 20-somethings generally AREN’T saving and investing as much as 40-somethings can.
2.) Progress. Often later in your career you’ve made some progress in your financial life. Maybe you paid off a student loan or invested in a 401k through work. THAT STUFF COUNTS, and already is fueling future compound growth for your future.
3.) Income. Often later in your career you’re making more than you did in your 20s!

Combine those three: A better launching pad, more income, and more focus, and you’re not behind. You’re a saving and investing MACHINE. You’re going to dominate those young punks spending their entire allowance on pokeymans and tickles me elmo. (Apologies to anyone in their 20s who is reading this, I’m just teasing, keep reaping that compound growth baby).

So no, you’re not too late. Get focused and get started.

As always, reminding you to build wealth by following the two PFC rules: 1.) Live below your means and 2.) Invest early and often.

-Jeremy