I enjoy a drink of alcohol. Various studies explain what may or may not be good for you. But we all know how much is too much alcohol, however, our definitions of what is too much may differ between us. Too much alcohol over time will impact your liver and increases the risk of other diseases. The actions you take today will have an impact over time.
When you invest for retirement or invest so that you don’t run out of money, irrespective of your age, it’s easy to ignore today. ( who cares if you have that one extra drink today, you’ll be fine tomorrow) But making the wrong decisions each and every day may risk your retirement or running out of money.
Too much alcohol over time is corrosive. So are investment fees that don’t add value you think they do. When you compound costs over time, the impact on wealth values is massive.
It means you need to set good habits today for investing. Not tomorrow.