yes this is true, but savings and investment is VERY important when you are young.

With the magic of compounding, you are much more likely to have more wealth at a faster rate as compared to one who started late.

Read this article to see the magic of compounding:

://.businessinsider.sg/amazing-power-of-compound-interest-2014-7/?r=US&IR=T#THbEEd1t7uBORwF6.97