How to manage financial problems? And is it ever too late to start?

“When are the two best times to plant a tree?” This was a question I was asked at a seminar, and I don’t know the answer because I’m not a gardener. I racked my brain for a deep, wise answer, but the answer was actually very simple.

The best two times to plant a tree are 20 years ago and now as in today. This analogy is a metaphor.  It is just asking, when is the best time to take action on the important stuff?

Why? A tree planted 20 years ago will now be a big tree bearing fruits to eat and providing shade from the sun. Planting a tree now, as in today, is about taking action now.

You may be wondering what this has got to do with finances.

A quick disclaimer! This blog is about how we think and feel about fixing our money. Click here for the steps you need to fix your money.

What is the Age of Success?

Zuckerberg founded Facebook aged 19. Gates founded Microsoft aged 23.
Thousands of young inventors, entrepreneurs, and influencers are succeeding. I adore these inspiring stories. The trouble is that their famous stories make it appear that success comes swiftly and that it’s too late if you haven’t figured things out by 40.

I felt pretty frustrated when in my forties; I was looking to get my finances sorted out, get out of debt and put money aside for the future. Nearly every book or blog I have read made it seem too late to turn your financial situation around for good if you are over a certain age. 

The idea is that you don’t have enough time to make up ground. Even if you start saving for retirement now, it is too late. 

But when you look at the facts about successful people, you see a completely different picture. Pierre Azoulay, a Massachusetts Institute of Technology professor, researched and found that the average age of business founders is around 40.

Can You Find Success After 50?

Yes, you can find success at any age, and this article from the Washington Post backs me up. The rule that applies to everyone is you must be prepared to put the work in repeatedly until you discover your brand of success.

Apart from the Zuckerbergs and Bill Gates, many of the most successful people didn’t achieve financial success until well into their 40s or 50s. They had to endure many humiliating defeats before they finally succeeded.

Every Little Helps

A retired person who has no debts but also no pension or savings is a terrible thing. But a retired person with massive debts and no pension or retirement savings is in a far worse situation. You can turn things around if you prepare for it right now.

I hope you will take positive action and start fixing your finances now. Even the smallest tweaks will make your finances better.

All anyone has is the present. We cannot go back in time to plant money trees. Let’s plant our money trees now. Read my blog “how do you start managing your money.” Get your finances in excellent shape even in your 50s.

Ruminating over what I could have done way back yonder changes nothing, and as a result, you will never see me living in any kind of regret. I don’t like blogs titled “Things I wish I did in my 20s” Matter of fact, it pisses me off. I promise never to write one ever.

When I was in my 40s, I started to pay attention to my money. I would have loved to start sooner, but life got in the way. This blog is to inspire those who are late financial bloomers. As a late bloomer, I did not let lateness stop me. I’m glad I did because, after only a few years, my money tree is starting to bear fruit.

Final Thoughts

PLANT YOUR TREE today. There is no shame in starting late. It beats doing nothing every time. Let go of self-criticism just because you’ve not “made it” yet. Check out these 24 examples of people who succeeded in their 40s, 50s, 60s and 70s. They had faith in themselves and were able to realise their goals. If they can do it, so can you.

Thanks for taking the time to read. 

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