Myth #3: I’m too old to invest

It’s never too late to start building wealth.

Have you ever thought that you’ve missed the boat on investing? That it’s too late to start, and the best returns are only for those who began in their 20s? We hear you, and it’s a myth we want to bust right now. The truth is, it’s never too late to start investing.

 

A real-world example

Investing later in life isn’t about getting rich overnight; it’s about making your money work harder for you to support a comfortable retirement. Imagine you’re 55 and planning to retire at 65.

That’s a whole decade for your money to grow. A well-chosen investment can net higher returns than a traditional savings account, which often struggles to keep up with inflation.

And here’s a big advantage you have: you might have more money to invest. Unlike a 20-something who may be burdened with student loans, older adults have often built up savings or paid off mortgages.

For example, a £50,000 investment earning a conservative 5% a year could grow by £2,500 in just one year. Over 10 years, that same investment could grow to over £81,000 through the power of compounding.

 

The right investing strategy

Your investing strategy can be as unique as you are. As you get closer to retirement, your focus might shift from aggressive growth to capital preservation (keeping your money safe).

This means you might choose a portfolio with a higher proportion of lower-risk assets like government or corporate bonds, which can provide a steady income. The key is that you have the flexibility and confidence to build a strategy that fits your personal goals.

The biggest risk for those in their later years is often not investing at all. Leaving all your money in a low-interest savings account means it’s likely losing value to inflation over time, so your money won’t stretch as far as it used to. Investing is a way to help your money keep its purchasing power.

It’s never too late to take control of your financial future. Every bit of growth helps. Top up your account today. Or if you’re not investing yet, a Stocks & Shares ISA is a popular account with existing Moneybox investors.

 

Capital at risk. The value of your investments can go down as well as up, and you may get back less than you invest. All investing should be long term. Tax treatment depends on individual circumstances and may be subject to change in the future.