Pages

Sunday, June 7, 2015

Building Wealth Early is Important

You hear all the time that you don't have to worry about anything but partying  in your 20's but I couldn't disagree more. Being in my 20's I'm obviously not speaking from experience but rather observation. The one thing I've heard more times then anything else is the phrase "If I could go back in time.."
Time is the most important thing we have yet we waste it constantly. That doesn't make much sense now does it?

So why wait? Start now. Save your money and invest your money. Go for a big paying career or find business/freelance field that works for you. In your 20's you have youth and energy so use it! Instead of partying with your friends, take up hobbies, even consider learning a skill.

 Starting out you should consider these 3 steps. Make sure you make enough money each month, get your bills in check (make your monthly budget affordable) and make sure you're saving enough each month.

Once you have enough saved up I'd recommend learning as much as you can about stocks or real estate (if you're going to school for economics or finance you'll learn quite a bit about stocks) don't make the mistake most of us young folks make which is moving without thinking and then paying the price. It's easy to lose money in any one of these investments if you don't know what you're doing so put in the time to do you're homework and the profits will come.

  All too often I see people my age wasting money on ridiculous things to the point where they're putting themselves in debt for thousands of dollars. No matter how you want to slice it that's ridiculous. So be a contrarian, and build your wealth rather then waste it and start as early as possible.

 There's a reason why there's a 1% and a 99% . Most people do things the same way and others do things their own way. You tell me which side you would rather be.

No comments:

Post a Comment