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.

Is your Strategy Sound through a Volatile Market?

 Right now the Stock Market is just as Warren Buffet described it "like being friends with a bipolar person"
I realize we're seeing levels in the S&P/DOW that we've not seen before, but clearly not everything in the economy is doing well. So far I notice retail/industry lagging behind tech. health care and even transportation. It makes sense as technology takes the lead in our everyday life, as for transportation the airline industry is really the driving force behind its great run.

I've been pointing a lot of my investing lately towards technology and health care to a lesser degree (I tend to stick with the type of stocks I know) Technology is going nowhere and it is a need just as much as transportation is these days. Health care has and always will be a need, add to rising health care costs and it's no wonder the sector is doing so well this year.

 Everyone has their own strategy but have you thought about yours lately? No matter what you know or like the Market and what it wants/needs constantly changes. You need to stay on top of this and educate yourself  about events in the economy as much as possible.

Investing not spending is the key

 

Every american has asked themselves this at some point. Some found out by getting lucky, the rest either had investments not work out or maybe even lose money to a scam or crash. 

 Being a millennial I notice people my age that aren't educated enough about stocks (as I was and most public educated kids aren't as well) tend to fall asleep learning about them or see the risk and run away. Not just millennials but my parents and other baby boomers have this mentality. There's a reason the 1% controls the true wealth in this country and it's not by saving their paychecks. 

 I just recently got into stocks this past year. Trading, investing has become my main income source as well as one of my hobbies. I didn't learn a damn thing about stocks in school and most won't unless you go to a serious college which a lot of us weren't fortunate enough to afford. But it's like having a succesful business, taking the right steps learning the dos and donts will eventually lead you to the answer if this is for you or not.

 Stocks are looked at like gambling and that's because a lot of people don't know how to properly analyze a stock so most look at it like placing a bet. This isn't true and like any business affair if you're ignorant to it you are indeed gambling. If you don't know what you're doing with a business, job , real estate etc. You'll lose everything like a bad investor does on Wall Street. People have learned to embrace entrepeaneurship in America, they should embrace finance as well.

 I'm not telling you to be a broker or aim to be rich, but learning banks, finance, etc. and how it works is key to living life the way you see fit. People should always invest in some way, see what works for you. When it comes to banks I've had horror stories like the next guy but as long as you don't put all your money in one account it protects you if things go wrong. But believe me having a smooth, cooperative bank for the active business account is a blessing you just have to take the time to find the right one. 

 I recently read an article on cnnmoney saying millennials prefer having only cash. That's fine to keep enough on hand but you should always have some money big or small being built up for you. most investments require a healthy debit account. But too many people have learned to avoid banks and look at them as all that's wrong with the world. Whatever your opinion is you have to work with them to move money efficiently, get credit, etc. 

When someone asks if stocks are a good investment the data proves they are. All things lose value, but not all recover like stocks do. Real estate can to through the same up and downs as stocks and it's certainly easier to invest or trade compared to flipping homes all year long.

Whatever sparks your interest you owe it to yourself to pursue a secure lifestyle as well as manage and invest your money wisely.