The biggest and most common financial regrets people will have.
1. "I should have started investing and making financial plans, earlier."
2. "I wish I had taken more risks and tried more things, when I was younger."
There are some who say its bad to have a tattoo. "The tattoo will look bad, when you're old." There are also many who wish they had tried more things when they were young. Before their window of opportunity closed. Before they had kids who rely on them, where they have less time. Before they were in a position where it became much more difficult to start a business or try different methods to tap other revenue streams.
For those who profit with stocks, crypto and other assets as other means of income. The most common regret is not having started earlier. Time spent idle could translate to opportunities missed.
There are some who believe the biggest danger is taking a chance. They play it safe. Not realizing not taking risks, could be the biggest risk of all.
Please share what you believe to be the biggest risks in finance.
I definitely agree with your first point and in many ways it ties in closely with your second point. After learning much more about financial instruments, namely investing, later than I should have - it's a real eye opener how much money there is to be made out there if you use your own money wisely. It was Einstein that once said that "Compounding interest is the 8th wonder of the world" and after doing it for a while you will definitely begin to see how powerful it can be. The younger you are the more mistakes you can make (financially) and recover from more easily, if you lose all your accumulated money when you are 60 it's probably going to be a real rough ride and recovery might be impossible.
The earlier the better right?
We know that when we are still on our youth days then minding about your own future or having that plans on whats ahead is really unlikely for someone to mind off or think off and this is we do really see that most of people who are on this age bracket wouldnt really be minding about this stuff and this is why they would really be missing out these opportunities but of course time will come on where we would really be inevitably facing up the real deal on the time that we do gets older. This is where you would really be having those deep thoughts that you should have started earlier but its true that when you are still on the bracket of
20-30 then it would be still considerable since you do still have that time gap on which you could still be able to recover up those losses if ever you've been hit up big, unlike when you
are already that 50 of age then there's no time for you unless if its done for a couple of years in speaking about recovery. We do have our own regrets in life which is something
that really differs into each person.