When to start

Morgan Housel writes about the biggest and most practical takeaway from Warren Buffett’s success: “Start investing when you’re in third grade.”

Buffett’s fortune isn’t due to just being a good investor, but being a good investor since he was literally a child.

$80.7 billion of Warren Buffett’s $81 billion net worth was accumulated after his 50th birthday. Seventy-eight billion of the $81 billion came after he qualified for Social Security, in his mid-60s.

Buffett started investing at age 10. If he’d started at age 22 instead, his net worth would be 97.6% lower today!

All that to say: the best time to start was yesterday.

Failing that, today will have to do.