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Start as young as you can

Posted in Personal Finance

The best time to plant a tree was 20 years ago. The second best time is today. Time is the only thing that we could not buy back once it is lost. Irregardless of what kind of investment that you do, it is best to start as early as you can. What’s the age that you should start? My opinion is, start as young as you can. The assumption here is that you have done your homework and identified the property worth buying. It will most probably be for your own stay since you are a recent graduate and has worked for just a few years and have just enough savings for 10% downpayment for a small secondary 700 sf apartment in Penang of RM250,000. Yes, as at today, they are still available.

By starting early, it meant that you have started to force yourself to buy something which is an INVESTMENT instead of the ‘showing off’ stuff like new handbags, RM700 sports shoes or even a Japanese branded car. I know, it’s tough when you have to face your friends  but believe me, if you purchase your property when you are 26, by the age of 31, you would have saved enough for another small 700 sf apartment which you can then rent out. By age 36, you may have sold your first apartment with some profits to upgrade to a condo and bought the third property in your life.

Suddenly your friends would say to you, ‘aiya, I should have followed you’. We always miss a lot of things in our lives because we did not think objectively or read more to know more. When you really are successful and have a lot to spare, fine, get that European branded car. Anyway, I am quite sure by then, even if you are driving just a Persona, chances are, your friends would look up to you in a different way; if you have started as young as you can in property. Time is also on your side should you commit a mistake during your property investment journey.

Written on 30 november 2013

Next suggested article:   5 Questions First or One Question First, before you invest in anything? 

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One Comment

  1. Jeff
    Jeff

    I agreed with the message . Thank you Charles for pen it down.

    November 30, 2013
    |Reply

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