Starting young is better than starting later.

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 RM300,000. It’s even lower in Klang Valley. My friend bought one for just RM250,000. Read here: Buying for glamour or buying for value? 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 a new RM4,000 handbag, RM700 sports shoes or even a Japanese branded car. I know, it’s tough when you have to face your friends. If you drive a second-hand car, they look at you differently and if you drive a Proton, they may even laugh at your choice. Well, actually 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, when you are successful, even if you are driving just a Persona, not many would be laughing at you. In fact if they did, who cares? It’s your life, not theirs. Remember, it’s investment and not speculating. Thus buy objectively and not simply. Happy starting young.
Edited on 1 May 2015
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