The earlier you start to invest or save up for your future, the more time your money has to multiply. So, naturally, if you begin your investment journey today, your maturity benefits would be higher than if you put off your investments for a couple of years or so. 

To compensate for this delay, and receive the same level of maturity benefits as you would have if you started investing today, you will eventually need to pay a higher premium. This additional expense is the cost of delay.

The cost of delay calculator shows you the impact any delay in investments can have on your finances. It displays the difference in your maturity benefits if you start investing today, as compared to the maturity benefits that you would receive if you delayed your investments by a few months or years. This gives you a fair idea of the amount by which your end benefits are reduced, thereby encouraging you to invest early and reap higher returns.

In order to make up for the loss of benefits due to the delay, you will need to pay a higher premium. That way, you could still enjoy undiminished maturity benefits. But this comes at an added cost. A cost of delay calculator shows you what this additional premium (or cost) is.

Delaying your investments is never a good idea. When you put off getting started on your investment journey even by a few years, you run the risk of getting weaker returns and benefits that are much lower. Your risk appetite may also become more conservative as you age, so your preference for certain investment options like equity also change correspondingly. You become less open to the idea of investing in such aggressive options, which, in turn, can further lower the possible maturity benefits you could enjoy.

This is why it’s advisable to invest in savings plans and ULIPs at an early age, so you can give your money ample time to multiply.   

Using the cost of delay calculator is quite simple. You need to enter the necessary details such as the amount you wish to invest on a monthly basis, the investment tenure, the expected rate of return, and the period by which you are likely to delay your investments. With these inputs, the cost of delay calculator computes the total cost that you are likely to incur on account of the delay. 

Occasionally, you may find yourself at a point in life where you may contemplate putting off your investments by a few months or a few years. The exact financial impact of this may be unclear, but when you quantify the costs associated with such a delay, you will get a clearer picture of how such a delay can affect your finances. This is the key reason to use a cost of delay calculator. 

The easy-to-use online tool helps you understand the impact of delaying your investments by any given number of years. When you see such a metric quantified, it makes the decision to invest early in life easier, since you have a fair idea of the additional costs you can avoid by investing sooner.

• Please make your own independent decision after consulting your financial or other professional advisor.
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• L&C/Advt/2023/Mar/0866