Topic: What is the right age for financial stability? - page 9. (Read 1672 times)

So true. It all depends on our respective mindsets to achieve financial stability in the future. Not only do those born into poor people have to have this mindset, but also young people born into rich families also have to have a mindset about finances for the future. Because if this doesn't exist, even people who have a lot of wealth will lose their wealth if they don't manage it properly.

Age is not a barrier to carrying out the process, it is never too late even though the goals are different. I love the fact that you stated that it's not about age. we have to keep Saving, Invest some of it, if we really want financial freedom in old age. In a few years people will regret it if they missed the opportunity to buy bitcoin.

Moreover, I know quite a few pensioners who continue to work, and thus it turns out that a person works all his life, sometimes at a job that he does not like. Therefore, what your parents can give you plays a very important role, and if you have to start everything from the very beginning, then it will not be very easy to achieve financial freedom before the age of 40, but even if you can build a profitable business by this age, then you will want to continue managing it for some time to earn as much as possible.

Financial stability depends on a person's hard work and creativity. It takes different time for each person. There are many histories where some have become owners of huge sums of money in 18 years and there are many people who have lived most of their lives but are living in many financial crises. So it is difficult to say what is the right age for financial stability for each person. But it can be said that 18 years is enough time for a person to work hard enough to change their financial status.

The right age for financial stability is as soon as you start earning money. You shouldn't have to go into extreme and sorry debt just to enjoy life. And yes that means cutting down on partying. Besides, you're you're supposed to party after you succeed, not before you even hit the trail. Also, most of these young people waste their money on stuff that they end up not needing (or wanting).

When it talks about financial stability, that is the time when we are not worried about the future --we can think about multiple sources of income. We can say starting to build a good career at an early age makes not impossible to gain such financial stability before 40. However, this will depend on the situation of the person, it is advantageous if you are coming from a rich family for this is not hard to reach. But for average and poor people, even at the age of 60, some of them are still working hard.

I think that the family we grow up in and the family that raises and educates us is very important to ensure financial stability. We do most things in life by taking our family as an example. In order for an individual to achieve financial stability, they need to receive a good education on this subject from their family and this subject should be adopted from childhood. However, many people start working in their 20s. In our 20s, we start earning enough money to manage our own lives and start building our own lives. In this period when we take control of our lives, it is very important to take control of our financial situation.

As we struggle with work, social life, friends and constantly striving to raise our standard of living, we often ignore our financial situation. Expensive clothes, meals at expensive restaurants, purchases that strain our budget. These are all tempting obstacles to overcome on the path to financial stability. Of course, no matter how old you are, it is better to start investing than to do nothing. The sooner you realize this and start working for yourself, the better. But it is much easier to save and invest when you are young. When you are young you have plenty of time to learn how to invest and test your strategies, you can take more risks and make more profitable investments with less fear of losing money.
Undoubtedly the biggest advantage of starting to invest at a young age is financial freedom at an early age. By the time you reach middle age, you can live completely independently without having to work in an environment you don't like or in a boring job. You can spend more time with your family, loved ones and hobbies and even turn your hobbies into a job.

A lot have been actually saying this that they have to enjoy their life first before they get tied to the responsibilities the moment they build their own family and raise their family. For me, there is nothing wrong with this but it's like some opportunities will be wasted if you receive some opportunities that are given to you at an early age. Because in reality, we can still enjoy our life while we continue to seize every opportunity that comes.

Most probably this mindset is formed because we are raised with different parents and each parent has varied mindset about financial stability and when to start processing it. Some are encouraged to start saving at an early age and live life frugally. While some are exposed to life's luxuries early so their mindset is like they don't need to chase financial responsibility unless they start to experience the hard times of life. That's the reason why people end up early or late in building their financial stability, but that's not the problem. There's no perfect age for financial responsibility, but I must say the earlier the better. You will live life your life to its fullest while you are still young and motivated.

I believe that's just the age that they are, and that's how low their level of thinking is too, because it's only someone who thinks they have all the time in the world who will not make good use of any finance that comes their way and put it to good use, as the opportunity that they had at that age won't present itself again the same way when they eventually think it is the perfect time to invest their money in good things.
 
And another thing is, the value of things keeps on increasing over time, and trends die off for the next one to come in place and take over. Without utilising a good opportunity today, waiting for you to establish something with the same plan you had years ago could be the very beginning of some entrepreneurs downfall.
 
We have pretty big millionaires that are below their twenties, and this is as a result of them making good use of their finances. So, @Op, to answer your question, the best age is when you have money to invest in something useful that can fetch you a profit in return.

   Every man on earth has her own set goals and a time frame they're working with, financial stability age depends on your own personal goal but for me the earlier the age, the better because if the time frame set only gives room for less chance of maximization and expansion, then it is a wrong decision. Early age of financial stability helps one to discover more hidden abilities and even go extra mile in doing more exploit, yes there'll be lots of years ahead to live and as these years pass, so does living and everything in it gets tough and cost effective more, we need to always blend in too every new cost development in order not to be caught struggling while pushing through life.
  The 20's of a man should be a period of breaking bounds and making waves, laying solid foundations and building strong bedrocks to make room for better feats and reduce the struggle in his 30's. It takes a set goal, determination, years of hard work to be stable, so it's really best the struggle to financial stability begins now to avoid pitiful circumstances.

Your last paragraph pretty much sums up the entire scene. Financial stability or any kind of stability that anyone aspires to achieve. The extent of a person's preparations and perception of the concept of financial stability is what can determine the method he can adopt, which in turn must be compatible with the circumstances of reality.
There are people who have gone beyond the stage of financial stability to the stage of luxury, only because their dreams were big and they worked to match them with their capabilities in reality. At the same time, there are people who are supposed to enjoy financial stability, but their dreams were greater or less than their real circumstances, so they reached a stage of what resembles a financial deficit.

Age of 30 seems possible but it depends to every individual like what you've said, everyone's journey is different. So if you're in the mid of 25-30 years old, I think It's fine if you have no enough savings and didn't hit the financial stability that you set in yourself as long as little by little, you already know how to manage your finances and expenses, also you have a time to enjoy your 20's. Nowadays it's difficult to have a spare money because of minimum salary offer while experiencing Inflation in economy but if there's an opportunity that may help you to aim the financial stability that you need, don't miss the chance, grab it and take a risk.

At age of 18? Is that not too early to begin? What if the person is not from a wealthy family and cannot afford to begin investing? You mentioned that the earlier we make decisions about our futures, but we still need to have the money before that. I have seen a lot of people who did not make plans for their futures at an early age, and they constantly say that there is always a time, no matter how late it is, nothing can be done about it, even though many of them truly wanted to begin investing at a young age but were unable to do so. There are many reasons why some of us could not started earlier.

Not only investment, we need to save and have other things doing for our futures, it's better we should plan early in life because if we don't, we will regret it later. Given how difficult the economy has been lately, some people find it extremely difficult to save money at times, as not all fingers are created equal. However, we should have some savings that will help us in the future because the money we save now will eventually help us later. Some people simply don't think about saving money because if they have little, they will just keep spending it the way they like, thinking they will keep on earning forever. We need to maintain since we never know what the future holds.

The normal age for financial stability varies for individuals based on their goals, circumstances & financial habits.
Maybe by the age of 30 you should aim to have a stable income, a well-managed budget, a savings plan & a good credit score. It's important to start building financial stability as early as possible but remember that everyone's journey is different & it's never too late to start taking control of your finances.

We have our own different timeline, therefore it's hard to tell when.

But for me, as soon as possible, if you want to be financially stable, you must start at a very young age. Young minds are easier to train, they are more open-minded than old folks, that's why if you see an opportunity to earn money, grab it. It doesn't have to be big in the start, as long as you're making progress, don't rush yourself. The problem of some people why they are still struggling financially is that they wanted a shortcut in success, they wanted 6 digits salary but they lack the experience to have that kind of job or business.

When you can't work anymore then financial stability becomes a necessity, so I guess around 50s and should start making right investments at 30?


If one has means to purchase lambo, it's fine, no? Otherwise what's point of life? Everyone dies. Often people die with regrets, your friend fullfilled his desire at least.

If we do it seriously, even though we were born into a poor family, there will be changes that we will get as long as we consistently go through the process of being able to rise and change to stabilize our finances, in fact many young people who rise from poor families can then help their parents financially.
It's all about mindset, and it all depends on ourselves whether we want to do it or just surrender to fate.

Don't ever be afraid to take the process even if you are no longer young or vice versa, at a young age it doesn't matter, don't rely on age.
We each have different goals in different ways.

Exactly. if everything is done well it will produce good results too, because effort will not betray the results that they must remember.
Yes that's right what you said, people's journeys are different as well as the path of life, there must be those at the top and at the bottom, but just believe that the world is spinning so even though we are at the bottom one day maybe we will be at the top. Financial stability is different, that's a fact in life everyone already has their own portion, some are heirs and some are pioneers like me. I did not inherit my parents' property because I was in a mediocre family but am grateful because I can still say that I have enough.

Unlike those who are heirs, they may not think about too many things, but I don't know, I'm not accusing them of anything, it's just that I myself sometimes want to be like them, but sometimes people who are rich (heirs) have problems in families that are less harmonious. So the point is that everything has its own portion.

In my opinion financial matters must be taught to children as early as possible, they must try to be responsible for their savings using the money we give them. Teaching them to save will stimulate their interest in living in simplicity and they will learn more about how money can be placed in a more productive way. When savings are going well, then when they are old enough, teach them how to do business, build a small business and if currently investing in Bitcoin is a good choice then direct them to learn to use these three methods responsibly and considerately.

Children will be much better prepared when they grow up their parents teach them how to use money properly. Don't ever hope that children can be independent if their parents never teach them how to make money responsibly. Child rearing patterns can be adjusted to each parent's abilities and as much as possible foster an interest in saving as early as possible to train them.

then another question arise, are you sure you will live until you're old? thats what people who have the ideas of YOLO usually have, imagine saving a million and can't even use a dime.
i'd argue thats quite plausible statement there, personally i have the idea to enjoy life but not enjoying too much that i'd spent on various luxurious thing.
just some luxury and thats it after all you can't buy your prime years, even when you're old and have so much money in your bank account are you sure you can enjoy all those things.
after all by the time, our body might not be at prime and can't even do many things that our younger selves eager to do.

There's no defined age when to achieve such stability. But the earlier, the better.
Because it means, you can enjoy what you really wanted to do, pursue your passion and more.
But most of the time, during our early years, we tend to enjoy life and not worry about our future.
We spend more to unnecessary things, and very few think about investments.
If you happen to realize early that you need to secure your future, you will thank yourself later on.