Saving Now is the First Step to Investment Success

Struggling to save? The longer you delay saving the harder it will be to reach your financial goals, so don't put off for tomorrow what you can do today

Emma Wall 5 September, 2016 | 3:22PM
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Can you picture your retirement? Chances are if it is more than 10 years away you will struggle to visualise a time when you won’t be working. And when you can’t imagine a circumstance, human nature means you are unlikely to prioritise it.

Choosing to favour the here and now is known as present bias. Humans prefer immediate awards to delayed gratification – the well-known study conducted with children offering them one marshmallow now or two marshmallows in five minutes proved impulse control is no easy feat.

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The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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About Author

Emma Wall  is former Senior International Editor for Morningstar

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