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23 is the best age to start investing
13 February 2009
The typical age when people start investing in shares is 32 according to a new study by money website The Motley Fool - Fool.co.uk. But investors believe the best age to start buying shares is nine years earlier at 23.
• Men start investing in shares at 29 years of age
• Women don’t start investing until they are 33
• The older you are, the earlier you wish you had started investing
Male investors believe the ideal age to start investing is 23. Women are more cautious. They reckon the best age to start investing is 24.
Delaying can be costly
Delaying investing in shares by just one year can make a significant difference to returns. A person who invests £100 a month in the stock market at aged 23 could have a pot of money worth £537,868 by age 652. But the pot would only be worth £491,401 if the person delays buying shares for just one year.
While men typically start investing at the age of 29, women don’t begin buying shares until they are four years older at 33. But both agree they should have started much earlier.
Older & wiser
Older investors in particular, understand the importance of starting to invest in shares earlier. Although thirtysomethings say 24 is the best age to start, investors in their sixties reckon that 22 is a better age to begin.
David Kuo, Head of Investing at The Motley Fool (UK) says: “Investors are telling us that if they knew then what they know now, they could be much wealthier. And they say they should have started investing in shares nine years earlier.
“But looking back at what might have been is pointless. So, disregard current market turmoil and invest now for the future because shares are currently cheap. As the old investment adage goes it is time in the market rather than timing the market that’s vital.”
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