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In part 1 of this series we looked at the cost of waiting when it comes to investing. An example of this showed that waiting only 5 years to invest could cost you literally hundreds of thousands of dollars over the long run. Many people want to pay off debt before they start to save. Figure 2 shows the excuse debt and how much it will cost to play catch up. For this example we will use a fixed total amount to save for, let’s say $500, 000 by age 65:

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Please read the disclaimer before you continue.

            Do you know how much it costs to wait to invest? What if I told you that a couple of years could cost you more than a million dollars over time. Would you care? Would you do something about it,? or would you just read this and carry on the same way? Many people think they can play catch-up, but it is much harder and much more expensive to do so.

            Are you like most people? Do you wave your arms forward and say something like: “Ah, no problem, I will start investing when I get my student debt paid off?”. Then its: “I will start investing when I am done saving for a house”. Then, “I will start investing when my kids move out”. Then, “I will start investing when my house is paid off”. Then, your life is over. Sound grim? This was most of the excuses I heard while working in the field. I realized that most people always had an excuse not to invest no matter where they were in their lives. I think people would be more likely to invest sooner if they knew what the price was to wait.

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