Long term investments – these are one of the best things and one of the wisest things that any individual can and should start doing as early as possible in life. There is ideally no perfect age to start working or to start saving. It will help not just the individual but also his or her family to have a secured life.
How does the long term planning work?
Ideally this is one of the best ways to secure one’s life. The greater benefits of slow and steady investment are:
• Flexibility to invest less: When the planning is for a longer span of time it is obvious that it will work well even if the amount invested is less. This is so as the amount being saved is for longer period and also the interest obtained will be on the higher side resulting in the ending amount to be on the higher side. This is obviously not possible when the period of investment is less. It is also seen that the mode of interest calculation is also different and yields lesser returns.