For anyone who wanted a video about how to invest as a teenager, or what to do when you turn 18 years old - here is that video, enjoy! Add me on Instagram: GPStephan
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FIRST: GET A CREDIT CARD
Doing this is VERY easy - as a first credit card, I highly recommend The Discover It Secured Card.
All you need to do is put down a small deposit, and they will give you a credit card with a limit equal to that amount. To build your credit, all you need to do is put a minimal amount on the credit card each month, then pay it off in full to avoid paying any interest. It’s as simple as that, the entire process should take you less than 15 minutes to do.
SECOND: GET A BANK ACCOUNT
I think it’s incredibly important that you have a bank account that’s solely in your own name, that ONLY you have access to - this is just one step closer to becoming a productive, financially responsible adult. Again, this step is just about learning how to manage money on your own, and eventually becoming an independent adult who can support themselves financially…and smash the like button.
THIRD: GET A ROTH IRA
A Roth IRA is a tax advantaged retirement account that lets you contribute post tax money…meaning taxes have already been taking out of what you earned…and by the time you’re 59.5, all the PROFIT in that account can be accessed completely tax free.
FOURTH: STAY OUT OF CONSUMER DEBT
I’m not referring to a low interest rate mortgage on a rental property, or any type of leverage that makes you more money…instead, I’m referring to credit card debt, expensive personal loans, high interest auto loans, or ANY other type of loan that serves no purpose other than to make your life awful. The responsible way to handle purchases is to only buy things that you can afford, put it in a credit card…and then PAY THE CREDIT CARD OFF IN FULL before its due.
FIFTH: GET A JOB
I sound like some old man saying this, but no joke, if there’s ANYTHING that set me up for a successful future, and that got me started on the right path early in life…it was this. GET A JOB. Anything. Even if it’s a few hours per week, JUST GET SOME WORK EXPERIENCE. Doesn’t matter how much money you make, just work…the experience that you’ll get from a part time job will be worth it 100x over by the time you’re older.
SIXTH: LIVE BELOW YOUR MEANS
Do not buy stupid stuff to impress people who don’t matter. Do not waste your money on things that aren’t going to benefit you long term. I’m a firm believer that it’s totally okay and acceptable to live SUPER cheaply in your 20’s, to set up the rest of your life to live comfortably.
SEVENTH: DONT GO TO COLLEGE JUST TO GO TO COLLEGE
Here’s my solution: if you don’t know what you want to do with your life, either go and get work experience until you figure it out - or go to a 2-year community college part time while you work. This way, you can save a TON of money - you can continue working at the same time - and that gives you more time to figure out what you really want to do.
EIGHTH: INVESTING ADVICE FOR TEENAGERS:
For most people out there, just invest in a broad low-cost index fund, invest consistently, and invest with the expectation of holding it for the next 30-40 years. That’s literally it. An index fund like FZROX, VTSAX, FIAX, or a target date retirement fund through Vanguard would do the trick. If you just do this one investment, chances are, this will become you full retirement when you’re older.
Now, If you ARE going to take on more risk, while you’re young is the time to do it. If you want to start that business, DO IT. If you’re successful at it, then you’re further ahead financially. Either way, you win…even if you LOSE, it’s better you lose a small amount when you’re 18, then a LARGE amount when you’re 35.
So don’t let those mistakes be made in vain…if everyone can learn from what I did wrong, then at least my mistakes went to a good purpose.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com

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34 thoughts on “The millionaire investing advice for teenagers”
  1. Avataaar/Circle Created with python_avatars Tyger Burrington says:

    Is the chime credit builder any good?

  2. Avataaar/Circle Created with python_avatars Dark Dart says:

    I want to become wealthy to become independent

  3. Avataaar/Circle Created with python_avatars Widomu says:

    Graham is like a brother to me, I don't have a brother but he makes me feel like I had a very advisable brother. Thank you, Graham.

  4. Avataaar/Circle Created with python_avatars Freedom Family says:

    Yes but didnt the fact you couldn't get a loan make you save more to buy with therefore you were in less over all debt?

  5. Avataaar/Circle Created with python_avatars Cristian Montano says:

    To obtain financial freedom, one must either be a business owner, an investor or both, generating passive income particularly weekly or monthly basis. That’s the key to living a financially stability

  6. Avataaar/Circle Created with python_avatars Chase Webb says:

    I’m 18, been working as a Journeyman Electrician since I was 17. This video helps a lot, I want to be successful

  7. Avataaar/Circle Created with python_avatars Fufflezot says:

    I hate how many people are pushed to go to college when they don't even want to go to college. Take a gap, my friend! You don't need to go to college right out of high school as it is, I took a gap year and I have a friend who took a gap 15 years. The only reason I'm in college is because I'm going for my masters in psychology. If I didn't have to go to college I absolutely would not have.

  8. Avataaar/Circle Created with python_avatars robin dielen says:

    Does a roth ira work the same in europe?

  9. Avataaar/Circle Created with python_avatars Urvashi Goutam says:

    I am 16 and started working as a affiliate for my financial life

  10. Avataaar/Circle Created with python_avatars Adonis Orion says:

    Despite the fact that stock prices fluctuate, what is the best method for capitalizing on the current market? I'm still undecided about investing $400k in my stock portfolio.

  11. Avataaar/Circle Created with python_avatars Chandra 009 says:

    Turned 18 last week . will come back after 10 years to see the beginning 😼

  12. Avataaar/Circle Created with python_avatars Mason Romanowski says:

    my rich accountant cousin recommended i open a chase credit card, she is rich asf so i trust her but is there any reason i should choose a discover card over chase?

  13. Avataaar/Circle Created with python_avatars Саша Звездов says:

    чёрт а веть мне было 18 лет в 2019 году "гребаные рекамендации YT почему так поздно"

  14. Avataaar/Circle Created with python_avatars Olivia Ralston says:

    You work for 40yrs to have $1M in your
    retirement, meanwhile some people are putting just $10K in a meme coin from just few months ago and now they are multimillionaires….

  15. Avataaar/Circle Created with python_avatars dreamgirl says:

    can i still apply this advice even if im not currently working?

  16. Avataaar/Circle Created with python_avatars WHATSKraKin says:

    I applied for the Discover It credit card and they declined me because I have no credit score. It doesn't make sense.

  17. Avataaar/Circle Created with python_avatars William says:

    does the discover secure card also apply in canada?

  18. Avataaar/Circle Created with python_avatars Jamie Knight says:

    W advice

  19. Avataaar/Circle Created with python_avatars Raheim Al-Kaabah says:

    Go to college because it’s beneficial for you. not for the parties.

  20. Avataaar/Circle Created with python_avatars Skycast Oasis says:

    How do you invest if you aren't already rich?
    3k is a lot of money for some people

  21. Avataaar/Circle Created with python_avatars LevyTaxes says:

    Nearly every single one of these categories is fucked up by student loans.

  22. Avataaar/Circle Created with python_avatars Chase Detrick says:

    Just turned 18 today 🤙

  23. Avataaar/Circle Created with python_avatars Mak Bags says:

    I may be behind😅 but does a Direct deposit account or a checking an account work?

  24. Avataaar/Circle Created with python_avatars Liwaa Beaini says:

    This is basically an ad

  25. Avataaar/Circle Created with python_avatars Mbalenhle Dube says:

    The video I needed, thank you very much ❤

  26. Avataaar/Circle Created with python_avatars Blase187 says:

    Go with a credit Union not Bank of America. Besides that everything else on this video is solid advice 👌👏

  27. Avataaar/Circle Created with python_avatars CreamySzn says:

    I swear bro talks in 1.5 speed

  28. Avataaar/Circle Created with python_avatars jenel lorono says:

    Thank you for this! Im turning 18 and this got me excited. Will definitely apply these advices!

  29. Avataaar/Circle Created with python_avatars Tomer Mahlis says:

    SnP500 is expensive 2,500 but it’s the best long term return

  30. Avataaar/Circle Created with python_avatars Zi says:

    I got my first job at 15 and I now turn 18 next month. I have started doing money saving envelope challenges and have never heard of my parents talk about savings and investments so I now have to teach myself since I am going to school for accounting or finances next month and would like to start off small but to where it will pay off. Thank u for this video!!!

  31. Avataaar/Circle Created with python_avatars van says:

    i'm 20 and i had no clue what a roth ira even was. i think you just saved my life.

  32. Avataaar/Circle Created with python_avatars Max Max says:

    I have 35k from a mixture of things at 18. Almost (19). Any tips for what to do? I’ve invested 23k in stocks + my pension. The rest I have in my bank account.

  33. Avataaar/Circle Created with python_avatars Zach Schroeder says:

    I’m in college for engineering, currently working an internship this summer. I’m investing sort of like Buffet in a taxable account & I’m running a 3-fund portfolio in my Roth IRA. When I’m graduated, I plan to drive a used car & soon after buy a small apartment complex as my first living space, which will make my house payment non-existent. From there I can increase investment of my engineering income and look into more real estate opportunities. Don’t see any reason why I can’t be out of the matrix as soon as 40-50 :))

  34. Avataaar/Circle Created with python_avatars Affinity_0 says:

    I have around 35k saved up and i just turned 18 what do u recommend I should do to make money from money…

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