Starting Early Is A Massive Advantage

Smartphones are amazing; it is an extension of your body.And if you use it in the right manner, then it can accelerate your life.

It is smart because it has internet, amazing build qualityand specs – you can access almost anything in its beautiful UI. If you want aphone which is fantastic and feels like magic, then you are at a buffet party.

Because there are many companies which have the bestcomparable smartphones and their price is going down with every new model theycome up with.

But when you see who has the trillion dollar company, abrand which people loves and are willing to pay the high price, then there isone company, and that is Apple. Every company had the choice to make a sleekdesign, focus on the end user experience, and provide a premium model which youcan feel happy about.

All the companies were focused on the lower end of themarket – they forget to cater to the premium audience.

Apple stepped in and made the best phone in the market at apremium price. Since they were the first – people jumped into the experience.

Slowly, many people from all class bought an iPhone becausethey were too ahead than their competitors. Sure, they had started makingpremium phones but it was not as great as the iPhone. Apple was first and madean amazing product – now they still win despite the competition catching upbecause now they have loyalty from serving for so long.

Investment Magic

If you are 25 years young and want to open a retirementfund, then you can join in but the exit year is fixed at 65 years. And youstart to invest – but you want to know how much you will get at the end of yourretirement.

So you calculate assuming a specific increase in earnings,and you end up with ‘X’ amount, which makes you happy.

But when you understand that a retirement account could beopened from 18 years young, then you realize you had missed about seven yearsof investing. With all the compounding that could happen, you could havereceived ‘X+Y’ amount. All because you started early – and someone else suremade that investment at 18.

Long-term investment works like a miracle because there isthe effect of compounding, which yields more money than you can do in thefollowing short term.

So an additional year, in the beginning, is more beneficialthan an additional year at the end of the period.

Securing Your Kid’s Education

Education is expensive, and many people want to get aneducation abroad. One way to get them is to have a scholarship or study inpublic colleges – but it is a good practice to have the money saved up for theworst case scenario.

If your kid is 18 years old and you are worried about theireducation because there isn’t money, then you have failed way before.

The best time to save money for a kid’s future is when theyare born – take a lump sum amount and put it in a fixed deposit. Over time, itwill compound for 18 years, and it will be enough for their education. Makethat deposit under their name so only they can withdraw once they are legallyallowed.

If you have no plan about their future when your kid isborn, then that situation is going to be the same – start planning andpreparing at least 5 years before the emergency strikes.

Now

It’s alright if you are not prepared for the scenario nowbecause you didn’t anticipate it for early in your life. But don’t let thatstop you from preparing for future emergencies now. Yes, the best time to doanything was probably 20 years back, the second best time is now.

You are going to do fixed things in life – buy a car, havekids, marry, death of parents and so on. Plan and save for those events longbefore, so you don’t end up stressed.

List down at least 3 things which will matter to you incoming years, what you will need and start their preparation for now, and yourfuture self will be happy because she started early.