Another misconception, according to Lian, is that people seem to think investing is for the rich, according to the ones he's spoken with, at least.
The Covid-19 pandemic has generated more interest in investing among retail investors, there may still be a misconception that investing is only for the older crowd, says Herbert Lian, executive financial consultant at Inspire Advisory Group, a division under IPP Financial Advisers.
“Depending on how comfortable we are to invest, this may hold some truth for us. However, starting sooner presents a great opportunity to reinvest the returns from previous investments and take advantage of the compounding effect,” he writes in an email response to our interview.
