SINGAPORE: A 35-year-old man took to social media to ask whether it was too late for him to start investing at his age. The man recently married and bought a house and claims he is “stuck in a fun job with perks but NO bonus.”

As a result, he is starting to explore ways to increase his income. “I’m starting to look for ways to grow my finances. It’s such a stressful subject for me as I’m bad with numbers and (obviously) planning. The inflation is freaking me out and i always feel I’ve failed in adulting”, the man wrote on r/askSingapore.

After learning about his problem, many users rushed to the comment section to offer advice.

One Reddit user commented: “Better late than never. “investing” could mean different to different people. If you’re thinking beating bank savings account returns, you can absolutely start now.

If you’re thinking day trading and becoming warren buffet overnight, maybe not”

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Another user remarked: “no it’s never too late. i started around your age and have seen my returns compound especially with the recent 20% stock market increase.”

One user added: “You still have 20 years till 55 or 30 years till 65 , not late at all. You need to establish when you want to retire and how much you need upon retirement. Whether is it a huge net egg you can draw down from to spend or many streams of passive income during your retirement.”

Is it too late to start investing at 35?

Experts say it is never too late to start investing, so the short answer is no. 

The problem of inflation, where a dollar today does not have the same value tomorrow, cannot be solved by savings alone. 

Your money will lose value over time if all you do is deposit it and leave it in the bank. To beat inflation, you must invest your money, as investing allows you to maintain or even increase your purchasing power. 

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That being said, there are five things you should consider before investing:

1. Financial Planning: To be a successful investor, you must create a financial plan. This plan should include goals and milestones. For example, you could set targets for how much money you want to save by a specific date.

2. Savings for investment: Set aside a portion of your savings for investment.

3. Risk tolerance: One of the most critical aspects of your planning is determining your risk tolerance. How much can you afford to lose if a future investment depreciates, and how much price fluctuation in your investments can you tolerate without causing panic?

4. Asset allocation: Having a variety of asset classes in your portfolio will guarantee that your investments are always well-protected because different asset classes perform well at different periods. 

5. Knowing the product first: Conduct preliminary research on the product. A wise investor will always tell you never to invest in something you don’t understand.

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