These are my recommendations and strategies that I’ve figured out along the way, that you can utilize to really make the most out of your 20’s, financially. Enjoy! Add me on Instagram: GPStephan
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First thing, if you’re in your 20’s…INVEST EVERYTHING, IMMEDIATELY.
$1 invested at 20 years old at a 7% return will be worth $21 at the age of 65.
However…if you wait, and invest that same $1 at 30 years old, it’ll only be worth $10.68 at the age of 65.
This means your money is worth TWICE AS MUCH when you’re 20 years old, than when you’re 30 years old.
Open up a Roth IRA immediately, and contribute to it.
First, you’re probably not making a ton of money right now, so you’re already in a really low tax bracket - this means VERY little money is lost to taxes upfront, leaving you with MORE money left over to invest.
Second, you’re young enough that you’ll have DECADES of growth that’ll be tax free when you’re older - and that means more money in your pocket
Saving 10% of your income, like so many financial advisors recommend, is just not enough.
10% is a start, but when you consider just how much money you can make in compound interest in your 20’s, you should ideally get in the habit of saving and investing MORE upfront, because your money is worth more NOW than it will be in the future.
That’s why I think it’s so important to LIVE WHILE YOU’RE BROKE IN YOUR 20’S.
Your 20’s are a free-pass to live like your broke, because no one expects you to have anything, anyway..
Second: If you want to be wealthy in your 30’s, you should start your own business in your 20’s.
Here’s the magic of doing this: with the internet, there has never been more of a level playing field in terms of building wealth. The best way to make a ton of money and become wealthy, is by starting a business, and have that business be mobile. Most of the time, a business will make you WAY more money than your investments will EVER make.
So when you’re in your 20’s, PLAY TO WIN and make as much money as you can. Then, WITH THAT MONEY, invest “NOT TO LOSE” so you actually keep it. That way, you’ll always have your foundation working for you, no matter what…so remember, be aggressive with business, be safe with investments.
Third: TAKE RISKS.
You have a VERY unique time right now where, if you try something and fail, you have plenty of time to recover. If you lose money, it’s no big deal. If something doesn’t work out, oh well, it’s not the end of the world.
This also applies to INVESTING in your 20’s, as well…you can make much riskier investments, because you have a much longer timeframe to recover from any losses.
Fourth: Reconsider College.
Honestly, for most people who really want to become WEALTHY early in life - college does very little for you. In fact, most of the time it’ll set you back between the cost of college, and the opportunity cost of wasting 4 years in a classroom where you could be out there actually doing something.
Fifth: AVOID LIFESTYLE INFLATION.
If you make more money, keep your expenses the same - don’t change a thing - and invest the difference.
Sixth: Stay away from bad debt.
If your DEBT isn’t MAKING you money, AVOID IT. Plain and simple.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
LIMITED TIME: Get 2 FREE STOCKS ON WEBULL when you deposit $100 (Valued up to $2300): https://act.webull.com/k/Vowbik9Tm5he/main
The YouTube Creator Academy:
Learn EXACTLY how to get your first 1000 subscribers on YouTube, rank videos on the front page of searches, grow your following, and turn that into another income source: https://bit.ly/2STxofv $100 OFF WITH CODE 100OFF (Limited Time Only)
Merch: http://www.GrahamStephanStore.com/
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
First thing, if you’re in your 20’s…INVEST EVERYTHING, IMMEDIATELY.
$1 invested at 20 years old at a 7% return will be worth $21 at the age of 65.
However…if you wait, and invest that same $1 at 30 years old, it’ll only be worth $10.68 at the age of 65.
This means your money is worth TWICE AS MUCH when you’re 20 years old, than when you’re 30 years old.
Open up a Roth IRA immediately, and contribute to it.
First, you’re probably not making a ton of money right now, so you’re already in a really low tax bracket - this means VERY little money is lost to taxes upfront, leaving you with MORE money left over to invest.
Second, you’re young enough that you’ll have DECADES of growth that’ll be tax free when you’re older - and that means more money in your pocket
Saving 10% of your income, like so many financial advisors recommend, is just not enough.
10% is a start, but when you consider just how much money you can make in compound interest in your 20’s, you should ideally get in the habit of saving and investing MORE upfront, because your money is worth more NOW than it will be in the future.
That’s why I think it’s so important to LIVE WHILE YOU’RE BROKE IN YOUR 20’S.
Your 20’s are a free-pass to live like your broke, because no one expects you to have anything, anyway..
Second: If you want to be wealthy in your 30’s, you should start your own business in your 20’s.
Here’s the magic of doing this: with the internet, there has never been more of a level playing field in terms of building wealth. The best way to make a ton of money and become wealthy, is by starting a business, and have that business be mobile. Most of the time, a business will make you WAY more money than your investments will EVER make.
So when you’re in your 20’s, PLAY TO WIN and make as much money as you can. Then, WITH THAT MONEY, invest “NOT TO LOSE” so you actually keep it. That way, you’ll always have your foundation working for you, no matter what…so remember, be aggressive with business, be safe with investments.
Third: TAKE RISKS.
You have a VERY unique time right now where, if you try something and fail, you have plenty of time to recover. If you lose money, it’s no big deal. If something doesn’t work out, oh well, it’s not the end of the world.
This also applies to INVESTING in your 20’s, as well…you can make much riskier investments, because you have a much longer timeframe to recover from any losses.
Fourth: Reconsider College.
Honestly, for most people who really want to become WEALTHY early in life - college does very little for you. In fact, most of the time it’ll set you back between the cost of college, and the opportunity cost of wasting 4 years in a classroom where you could be out there actually doing something.
Fifth: AVOID LIFESTYLE INFLATION.
If you make more money, keep your expenses the same - don’t change a thing - and invest the difference.
Sixth: Stay away from bad debt.
If your DEBT isn’t MAKING you money, AVOID IT. Plain and simple.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
I find myself at a crossroads, uncertain whether to liquidate my $150,000 stock portfolio. I'm seeking advice on the best strategy to capitalize on this current market.
I saw this video when I turned 30, first I was like man 10 years wasted then I realized it doesn't matter. Never too late to start investing so I started making big moves lost money and made money but overall I made good money in stock market and now I am slowly moving all my investments in long term etfs. With roth ira and regular investment stocks, I will make it easy to 59 1/2 a millionaire or even multi fingers crossed.
Now this is helpful! Commenting for the algorithm. Very useful information. I recently split with my girl who I have a 4 month daughter with. I've been virtually homeless. I have a place but only because someone is doing me a kind favor. I just might live in a tent in the back of the property to not have to pay for rent.😁🤔
Dave Ramsey suggests 15% of your income.
You're a hoss. Thanks.
So if you already have a 401k, also invest in an index fund?
Commenting for the algorithm.
Graham, what are your thoughts of investing in fundrise in your 20s if your not interested in buying properties in full?
You have to find a balance between investing in a 401k compared to how much you make. 10% when making $19 an hour is alot, when you have to pay rent, etc.
Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking bold steps we need in other to reach our goals. you have to contend with inflation, recession, decisions from the Feds and all. I was able to increase my portfolio by $289k in months. You have to seek for help in the right places.
Can you get a Roth IRA if you’re Australian?
I am so guilty of lifestyle inflation, I spend every buck that I earn 🤣
Though in fairness a good % of that was due to substantial medical bills AND more importantly I did make one really good investment in real estate about a decade ago. I then sold that property and got into stocks and I now make more in market gains per year on average than I earn at work.
heh all these how to be rich by investing are outdated these days
hi Graham nice to meet you, i am from colombia,i was worndering if yoy can enable the subtitle in your videos bc there are some words that i can't undertand so is more difficult to get the message
Graham its about time to do a video. about how to invest in your 20's as a college student
<Don't get me wrong, I know the economy is in shambles and in order to break even and make profit, we have to ride it out until stock recovery, but how are some folks in the same stock market as me still able to pull off substantial profits of as much as 650K within months, what am I doing wrong?>
Have to come back every once in a while and watch this. I want to buy the new RAM TRX… but I think I’m just going to run my Chevy to the ground now haha
"No one expects you to have anything in your 20s"….- a wild woman appears
An instagram picture wit Ben Mallah is 500% better than any picture anyone could take with a model.
Hey Graham (or other investors in the comments), can you convert your primary residence into a rental property? We bought our first house during covid for a fairly good price and an amazing interest rate. We've fixed it up and love the product it's turned into. This is not our forever home, so when it comes time to upgrade, we'd like to turn it into a rental. Any thoughts, tips, tricks for when the time comes? Thanks in advance!
I will be a millionaire love you Graham
I wish I knew this stuff in my twenties. I honestly didn’t even know things like this existed, I come from a low income household so pushing for my nephews and nieces to really start in on this! I’m 31 and started when I was 28
Loved this video! Very useful information
Yoooo
I love how when he's mocking the haters he becomes cartman
I’m confident the current market has an equal possibility of making high-value gains or losses, so I'm cautious with my selections; but, I heard that a trader made over $250k in this recession influenced market, and I could really need ideas on how to achieve similar profits.
Loved the “get that tattooed on your forehead”
If one is already broke tvat person can not save more money, for example lets say a oerson is in college lite ves with roomates and has a shitty car, that oerson cannot save more moneyvthan he or she already is since they dont have any money
Live like you're broke in your twenties .. love lol
Nice work
Lifestyle inflation is thr biggest issue. You work so hard for that money, so you feel like you deserve something for all that hard work.
Stopping the inflation is the first step. Reducing after the inflation is the next big step.
He lit
What about your 30s?
Graham, I'm 29 years old with a master's in Electrical Engineering. I am fortunate that I picked a good degree with a great job, but if I could go back to my 18-year-old self I would have skipped college and gone into the trades. The lost time producing an income combined with student load debt (100k!) really set me back. My ultimate goal is to build a rental portfolio and work for myself. I love watching your videos because have the EXACT same mindset as me. The difference is, that you figured out very early on what you wanted to and that's smart!
As of November, I paid off all my debt (thank god for student loan forgiveness…). I also have 40k in liquid assets to buy an investment property, and 30k in retirement.
I've been able to do that by heeding your advice and living well below my means. Thanks for the great content and for keeping me motivated!
At first, I wasn't sure that I liked this guy. However, now that I have seen him with Dave Ramsey and Kevin O'Leary, he is the real deal…
love you your video, this really changed me on a mental level