Question

Does early financial literacy have an impact on the net worth of young professionals over the years? Provide at least 10 reasons why or why not.

Answer 1

YES, early financial literacy have an impact on the net worth of young professionals-

A. It will help them to compound the money

B. It will also have them to invest at the young age

C. It will help them to take more risk and understand the risk avoidance and risk aversion

D. It will help them to understand the time value of money concept and grow their money through proper maximization of investment

E. it will also help them to understand various economic cycles at the early stages of their life

F. it will also help them to gain our financial independence in early stage of their life

G. it will also help them to understand the economy and finance in a better perspective and they will also start to follow the global markets

H .it will also help them to understand the importance of saving at the young stage and they will not be spending extravagantly

I. It will also help them to outperform their competitors and other professionals

J. it will help them to have a flexibility in the life and it will be important because it can help them to build the Corpus at the early stages of their life.