Co-founder of Affari Miei
April 23, 2024
Today I want to address you who have passed the 70 years old and you think it’s too late to invest. Perhaps you have wondered whether it makes sense to venture into the world of investments or whether it is better to leave things as they are. The answer is more complex than a simple yes or no, and I want to share some with you reflections which could make you see things from a different perspective, to understand if you really invest in your 70s and 80s could still make sense.
Read on for some tips!
This article talks about:
Why invest at this age?
I’ll start by telling you that most of the wealth is concentrated in the hands of older people: the assets of the elderly are in fact approximately 2,5 volte that of young people.
First of all, let’s ask ourselves: why do we want to invest?
Most people invest with the future in mind: retirement, children, grandchildren: we are therefore talking about a medium-long term objective.
If you have already reached retirement age, you know your financial situation well and know what you need to live peacefully.
So, the requests what you need to bring are:
Do I want to generate an immediate income from my assets? Do I want to preserve it and make it grow to leave it as a legacy to my loved ones?
There are no other possibilities, let’s say that the two macro questions are precisely these. If, however, you don’t want to leave any money, you don’t have heirs or anything else, then I recommend you just enjoy your money and spend it as you see fit! 🙂
Investing for the Income or for the Heirs?
If your goal is to generate a annuitythere are paths you can take to make your assets profitable, such as investing in properties to earn rent, or in shares and bonds for coupons and dividends.
If you need this money, then I wouldn’t worry about tax efficiency, while in other cases you might think about it for a moment more.
If instead you want to preserve your assets for leave it to your loved onesyou are in a privileged position to invest for the long term, thinking not of your age, but of that of your heirs.
This situation puts you in a privileged position, as the problem of your death does not arise: if you don’t need the income and you invest for the heirs, then you have to think with the time horizon of the heirs who will definitely be younger than you.
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How to start investing in your 70s and 80s
There are 3 levels very important from which you must start and from which you can then begin your profitable journey:
How to invest money: if you have never dealt with investments, you must tread carefully and above all you must not venture out boldly, you could lose money; Building a plan: you are organizing your inheritance planning, so you need to understand who the people you want to leave the money to are, how old they are and above all if there are any taxes on your assets; Involve the heirs: they are the ones who often lose money when they receive the inheritance! This is because they don’t know how to manage assets.
Conclusions
Starting to invest at this age may seem like a challenge, but it’s never too late to learn.
It is essential, however, to make the right moves to avoid traps and unscrupulous people who could take advantage of yours inexperience.
The right moves you need to make are the ones I just told you about, but I invite you to learn more about them here.
If you are thinking of invest at 70remember: it’s never too late to start.
The important thing is to approach investments in the right way mind setinform yourself, and plan carefully.
And remember, investing is not just a question of numbers and returns, but a way to guarantee your well-being and that of your loved ones in the future. long term.
At this point I say goodbye and leave you some guide which could be useful to your heirs to “unmark” the last level we talked about before:
Happy reading and good investments!
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