Money Mistakes We Make In Each Decade of Life

I am not old. But I feel old. I feel the pain of losing the time which was never in my favor to begin with. I was born prior to internet revolution. I faced the time of the old computers and the phones. I have missed opportunities.

I realized that I made a lot of mistakes that resulted in many of my own lifes regrets. I wish I could have made a lot of improvement. So far I have realized that I think some of such regrets can be understood from the start and we can avoid them.

Today I wish to explain some age group specific regrets and how we can avoid them. Here the context of the money. And we want to think of the life which should be in much better context as well.

So lets take a look at some of the life issues that happen in the age group categories and see where things change.

20 -30 Age Group : Not starting Investment

We start living the real life in this age group. I have just crossed this age group and realized that I lost a lot of interesting things of this age group. And I am going to check out where the life goes from this point onwards.

I realized I had no starting investment. And I was locked into the job. Which made me worry a lot. And a lot of things I had some of the investment mistakes due to the limited funds I had in the hands.

Another thing I noticed that time was pre internet penetration, so not a lot of us had the sites that used to pay online. So I think we were born a bit too early for the changing time. But mistake was not saving at all.

30-40 Age Group : Having debt, No dividend income

This is the age group I am into right now. I have few debts. Like working for the family and not having the savings. I have realized that there is definitely lack of the funds in that group as well.

I think having the debt is one of the thing that I have realized one should not do. Because you would spend a lot of time and money into something that ends up being taken by others. Like banks or the debt repayment agency.

So having the income that generates some return of investment or some form of dividend is what I am going to get as well. This is the time I am going to be investing into the funds which earns income.

40-50 Age Group : No savings. No house. No healthcare

I think a lot of people who spend their life in splurging and wasting on the habits which lead to some of the financial issues that leads to the problems. You may not have healthcare you may not have the savings and house.

This is where you are close to the life where your earnings are going to slow down. And you may not even have enough money for the spending either. So this is pretty harsh times unless you work and earn and save.

Here the goal has to be working on the stocks, crypto and dividend based income. So that whatever it returns to you earn you some good income. That is what leads to some really good income in the long run.

50-60 Age Group: No retirement savings

Having retirement savings is something one should always think of properly because you are not going to get the job as you age. And you can't do a lot of work. Which is something people have to realize.

I have not been there and I have no idea how to get the most out of my efforts to have a good life in this particular age group. So thinking of saving and investing enough before reaching this age group.

I have not done much and have to learn how to get the most out of the 40s first before I can draw any strong conclusion about this age group. Let's see where things go on that front.

What do you think?

So each of the age group is what leads to some of the good results. And if you learn to do things better way you can avoid some of the age specific mistakes too. I guess we will learn about this from the experience in our life.

So what do you think? have you improved yourself in these particular age groups?