Peoples of Pearler — Sophie
“Living in the moment — taking time out from education to discover the world makes it difficult for me to think more than a few weeks ahead. When your planning is that short term, saving for retirement is the last of your concerns. The thing is though, I’ve realised that regardless of what one ends up doing in 10 years time, having savings will always be a positive thing. If you save money and end up not needing it, all is well. On the other hand, if you spend your money on coffee machines and organic broccoli and then don’t have the finances to support your dreams later on, you’ll be regretful.
As I’ve settled back into the real world, adapting has been difficult. And so is forming healthy financial habits. I may never be rich, but I am on the road to putting a little bit of money aside each week to build a wealthier future for myself. I’ve found that my frugal lifestyle has not come at the expense of the freedom and joy I used to experience when I threw my cash around. I’ve enjoyed the journey of finding the right balance.” — Sophie
Sophie has hit this one out of the park. The reality being, not everyone is going to be rich. Nor in our opinion, is being rich necessarily a wise aspiration to have. What Sophie is touching on here is the power of compounding. Albert Einstein once referred to it as the eighth wonder of the world. Meaning that if you save or invest regularly over a long period of time (and withhold from large withdrawals) your gross returns will grow and grow and just keep growing until its time to press that magical button. The earlier you start investing, the better. The later you start, the harder it becomes to catch up.
We at pearler believe investing in investments is the best investment you’ll ever make. Save and invest when you can, money is the tool that lets you achieve your goals, never forget that. It takes time, and it helps to start early, Sophie’s travels reflects this!
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Disclaimer: At pearler, we pride ourselves on the quality of the financial advice we give, however, this advice has not been tailored for you. You may have unique financial goals, circumstances or needs which make this advice inappropriate, and it is important that you know whether you do. If you’re unsure we urge you to speak to someone you trust who is competent with money and understands your individual needs, whether they be a trusted friend or professional.
