After just turning 30 years old, here is my advice about how to invest in your 20s and everything you can do to begin growing your wealth - Enjoy! Add me on Instagram: GPStephan
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The YouTube Creator Academy:
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My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
FIRST: STAY OUT OF STUDENT LOAN DEBT
Unless someone has a clear career path they want to pursue, where a certain college is a REQUIREMENT to get there…it’s usually best to go an inexpensive community college first, save the money, and then figure out what you want to do from there.
SECOND: GET A JOB
I think it’ll be one of the best experiences you can get, and I have to say…there is a difference in the type of person who has work experience, versus the person who has none.
THIRD: STAY OUT OF CONSUMER DEBT
This means that you don’t go and rack up a whole bunch of credit card debt to buy stuff you don’t need, don’t go and finance an expensive car, don’t go ballin’ out to impress your friends with how much money you have…all of that is stupid, it’s reckless, and 10 years from now…I guarantee you’ll nearly regret all of it.
FOURTH: BUILD YOUR CREDIT SCORE
All you need to do to get started is open up a secured credit card with a $200 limit, put a few expenses on the card every month, and then pay it off in full. You’ll pay $0 in interest, you’ll build your credit history, and over time, and you can continue adding in new credit cards to the mix.
FIFTH: LIVE BELOW YOUR MEANS
I’ve found that the older you get - the less “socially acceptable” it is to live like a broke college student, and the less you WANT to live like a broke college student. So, now is your chance to get away with doing all the cheap and frugal things you’ve always wanted to do, before people call you weird for doing them.
SIXTH: TRACK YOUR SPENDING
You can’t effectively live below your means without knowing where you spend money, how you can cut back, and figuring out where it all goes. I’ve been tracking every single expense on Mint.com and PersonalCapital.com since 2012…and it’s helped me out a LOT in terms of optimizing my finances.
SEVENTH: TAKE UNCOMFORTABLE RISKS:
I’ve really found that the WORST place you could be in your 20s…is COMPLACENT. If you’re satisfied where you are right now, but you know - deep down - you aren’t living up to your full potential - the ONLY way to break free from that is to get used to putting yourself under pressure. You HAVE to start making uncomfortable choices and taking calculated risk to get yourself ahead, even if it isn’t the EASY decision to do.
INVESTING FROM THRE:
-Open up a RETIREMENT ACCOUNT. This is just an account that you can invest within that saves you money on your taxes…for example, some of these accounts allow you to use them as a tax write off, and others allow all of your profit to grow tax free…just depends on which ones you want to use.
Roth IRA: $6000 Per Year Post Tax Money
Traditional 401k: $18,000+ Per Year Pre-Tax Money
HSA / Health Savings Account: $3500 Per Year Pre-Tax Money
Look into the 3-fund portfolio, and this gives you the ULTIMATE diversification across everything…so, you’re basically just investing in the entire world in the long run - and even if one or two industries goes down, plenty of others will be there to pick up the pace.
Now, in terms of any other investment specifics, just remember this really easy saying: time in the market beats timing the market. That’s it.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
LIMITED TIME: Get 2 FREE STOCKS ON WEBULL when you deposit $100 (Valued up to $1400): https://act.webull.com/k/Vowbik9Tm5he/main
JOIN THE WEEKLY MENTORSHIP - https://the-real-estate-agent-academy.teachable.com/p/graham-stephan-mentorship-program/
THE NEW PODCAST: https://www.youtube.com/channel/UCMSYZVlQmyG8_2MkIKzg0kw
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
My ENTIRE Camera and Recording Equipment:
https://www.amazon.com/shop/grahamstephan?listId=2TNWZ7RP1P1EB
FIRST: STAY OUT OF STUDENT LOAN DEBT
Unless someone has a clear career path they want to pursue, where a certain college is a REQUIREMENT to get there…it’s usually best to go an inexpensive community college first, save the money, and then figure out what you want to do from there.
SECOND: GET A JOB
I think it’ll be one of the best experiences you can get, and I have to say…there is a difference in the type of person who has work experience, versus the person who has none.
THIRD: STAY OUT OF CONSUMER DEBT
This means that you don’t go and rack up a whole bunch of credit card debt to buy stuff you don’t need, don’t go and finance an expensive car, don’t go ballin’ out to impress your friends with how much money you have…all of that is stupid, it’s reckless, and 10 years from now…I guarantee you’ll nearly regret all of it.
FOURTH: BUILD YOUR CREDIT SCORE
All you need to do to get started is open up a secured credit card with a $200 limit, put a few expenses on the card every month, and then pay it off in full. You’ll pay $0 in interest, you’ll build your credit history, and over time, and you can continue adding in new credit cards to the mix.
FIFTH: LIVE BELOW YOUR MEANS
I’ve found that the older you get - the less “socially acceptable” it is to live like a broke college student, and the less you WANT to live like a broke college student. So, now is your chance to get away with doing all the cheap and frugal things you’ve always wanted to do, before people call you weird for doing them.
SIXTH: TRACK YOUR SPENDING
You can’t effectively live below your means without knowing where you spend money, how you can cut back, and figuring out where it all goes. I’ve been tracking every single expense on Mint.com and PersonalCapital.com since 2012…and it’s helped me out a LOT in terms of optimizing my finances.
SEVENTH: TAKE UNCOMFORTABLE RISKS:
I’ve really found that the WORST place you could be in your 20s…is COMPLACENT. If you’re satisfied where you are right now, but you know - deep down - you aren’t living up to your full potential - the ONLY way to break free from that is to get used to putting yourself under pressure. You HAVE to start making uncomfortable choices and taking calculated risk to get yourself ahead, even if it isn’t the EASY decision to do.
INVESTING FROM THRE:
-Open up a RETIREMENT ACCOUNT. This is just an account that you can invest within that saves you money on your taxes…for example, some of these accounts allow you to use them as a tax write off, and others allow all of your profit to grow tax free…just depends on which ones you want to use.
Roth IRA: $6000 Per Year Post Tax Money
Traditional 401k: $18,000+ Per Year Pre-Tax Money
HSA / Health Savings Account: $3500 Per Year Pre-Tax Money
Look into the 3-fund portfolio, and this gives you the ULTIMATE diversification across everything…so, you’re basically just investing in the entire world in the long run - and even if one or two industries goes down, plenty of others will be there to pick up the pace.
Now, in terms of any other investment specifics, just remember this really easy saying: time in the market beats timing the market. That’s it.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness @gmail.com
*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.
I'm highly favored financially, Thank you Jesus. $46,000 profit every week regardless of how bad it gets on the economy, thanks mrs. Patricia Smale
Newbies need to learn the ropes, know how much risk they can handle and diversify their portfolio. Some folks get help from money experts or do their homework before making investment moves. It's all about being smart with your funds.
When it comes to making smart investments, keeping an eye on the yield curve can be helpful. If the yield curve starts to invert, it may be a good idea to consider adjusting your investment strategy. it's just one piece of the puzzle, but it can provide insight into the overall economic climate. I have poured about $80k into the market holding good positions.
Hey. I’m 21. I spent a lot of my savings on individual stocks like starbucks and at&t. Would it be better to sell and reinvest in an etf or bond. Or to just hang in to those stockS???
I'm relieved to see I've already done some of these things. I'm 25. I got my first credit card and started tracking my spending when I was 20. My credit score is now 804 and I've been able to save/invest a comfortable safety net. I plan to purchase my first rental property in the comping years and start making some passive income 😊
@Graham Stephan
The only job I want to do is print money. Why can't I do that job?
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.
Graham is the great older brother we never had.
For everyone in that 18-21 age range u do NOT have to go into debt for a degree. I scrubbed floors as a janitor in the hospital that I’m now an RN at and my Bachelors was 100% paid for and I made 110 last year.
With markets tumbling, inflation soaring, the Fed imposing large interest-rate hike, while treasury yields are rising rapidly—which means more red ink for portfolios this quarter. How can I profit from the current volatile market, I'm still at a crossroads deciding if to liquidate my $275k bond/stock portfolio
How about that video for millionaire investing advice in your 40's?? 😂
I hope the young people watching take this to heart – I wish I’d started at 20 but I’m glad I did in my mid-30s. Everything Graham says here is spot on.
Going to college was a load of fun tho. I consider my debt to be the cost of enjoying myself + a degree
My only complaint about tracking spending through stuff like mint or nerdwallet is that my wife and I split bills a lot of the time and so I'll pay the bill and she sends me her half so it looks like I overspend. I wish they had a way to separate that out.
Thanks king
To my understanding this just proves how much we need an edge as investors because playing the market like everyone else just isn’t good enough. I've been quite unsure about investing in this current market and at the same time I feel it's the best time to get started on the market, what are your thoughts?
So far in the past few months, I’ve slowed down buying to only maybe an IPO or something I already own that has been overly beaten down. The only money I’m consistently putting into the market is through my financial advisor.
If you really want to keep your money safe, join Wall Street Silver and start stacking
I will forever be indebted to you you’ve changed my whole life I’ll continue to preach about your name for the world to hear you’ve saved me from a huge financial debt with just little investment thanks so much Mrs. Ivana Marich
The wisest thing that should be on every wise individual's list is to invest in different stream of income and don't depend on the Government to bring in money or depend on your pension. Diversification is Key!
When it comes to investing, I’m so ignorant about it, I hereby ask; What’s your say or thought for anyone with over 100K $ looking for the best ways to make good returns off it? I will appreciate good ideas here.
Who is this Riley Mary? Can anyone please assist?
Ever since I lost my job at the ministry, I have been surviving through my investments with Mrs Riley Mary, I'm so glad I invested when I did