entrepreneur before 25 or after 25?

Ans:

Hi.

I can understand your situation where you worked for so many years to support your family and not really had the opportunity to follow your passion.

If your family’s financial condition is stable now, then you can consider starting your own business. It comes with its own risks but it will be an enriching experience.

You can also consider areas like teaching or social work for the next phase of your career.

Ans: Deciding whether to start a business or work as an employee can be a tough call. It really depends on what you want, your personal values and the level of risk you're comfortable with.

Entrepreneurship has its perks, like being your own boss and making your own schedule. You can also potentially earn more and have the satisfaction of creating something new. However, it can also be risky, with no guarantee of success, and can require a lot of work and effort.

On the other hand, being an employee has benefits like a steady paycheck, benefits, and opportunities for career advancement. However, it can also feel limiting and may not allow for as much personal or professional growth.

So, it really comes down to what you value most. Do you want the freedom and potential financial gain that comes with running your own business? Or, do you prefer the stability and security of a regular paycheck and benefits? It's important to think about what you want and what you're willing to risk to get it.

Ans: Well there is no age to start a business and there are many case studies of late starters who built multi billion dollar empires. See what skills you can leverage and plunge in. However, invest only in a way that even if you loose the investment, your basic livelihood would not be impacted.

Ans: It's fantastic that you're thinking about investing at such a young age. Here's a beginner-friendly guide to get you started:

Emergency Fund: Before you begin investing, ensure you have an emergency fund in place to cover unexpected expenses. Aim to save at least 3 to 6 months' worth of living expenses in a high-yield savings account.
Start Small: Since you're just starting, it's okay to begin with small amounts. Consider setting aside a portion of your income, such as 10-20%, for investing each month.
Understand Your Goals: Determine your financial goals, whether it's saving for a house, retirement, or travel. Your goals will help you decide where to invest and how much risk you can take.
Explore Investment Options: As a beginner, you can start with low-cost investment options like mutual funds or exchange-traded funds (ETFs). These allow you to invest in a diversified portfolio without needing a large amount of money.
Consider SIPs: Systematic Investment Plans (SIPs) are a popular way to invest in mutual funds regularly. You can start with SIPs that match your risk tolerance and investment goals.
Educate Yourself: Take the time to learn about different investment options, risk management, and personal finance concepts. There are plenty of resources available online, including books, articles, and courses.
Seek Professional Advice: If you're unsure about where to start, consider consulting with a Certified Financial Planner. They can help you create a personalized investment plan based on your financial situation and goals.
Remember, investing is a long-term journey, and it's essential to stay patient and disciplined. Start early, stay consistent, and you'll be on your way to building wealth for the future. Good luck!