The Cost of Delayed Investing: A Lesson from Two Friends
At 25, he chose gadgets over a Rs 10,000 investment. It could have grown into crores
The Economic TimesImage: The Economic Times
A story shared by chartered accountant Paaras Gangwal illustrates how early investing can significantly impact financial growth. While 25-year-old Ankush prioritized immediate gratification, his friend Saurabh chose to invest ₹10,000 monthly, leading to a projected ₹4-5 crore by age 60. This highlights the importance of starting early in financial planning.
- 01Starting to invest early can lead to substantial financial growth over time.
- 02Ankush, who spent his 20s on immediate gratification, realized the long-term impact of his choices at 35.
- 03Saurabh's disciplined investment strategy resulted in a corpus of ₹80-90 lakh by age 45.
- 04The power of compounding plays a crucial role in wealth accumulation.
- 05Time, rather than intelligence or opportunity, is the key factor in financial success.
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In a recent post, chartered accountant Paaras Gangwal shared the story of two friends, Ankush and Saurabh, highlighting the importance of early investing. At 25, Ankush focused on spending his salary on EMIs, gadgets, and trips, ignoring financial advice from Saurabh, who recommended starting a monthly Systematic Investment Plan (SIP) of ₹10,000. A decade later, at 35, Ankush realized the consequences of his choices when he met Saurabh, who had consistently invested and grown his corpus to approximately ₹19 lakh. By age 45, Saurabh's investments had compounded to around ₹80-90 lakh, with projections indicating it could reach ₹4-5 crore by age 60. This stark contrast underscored that the real loss for Ankush was not just financial returns but the time he had wasted. Ultimately, Ankush began his own SIP, understanding that while he started late, he still had the opportunity to build wealth.
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This story emphasizes the importance of financial literacy among young professionals, encouraging them to prioritize investing for their future.
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