How To Invest In Your 20’s to be Wealthy In Your 30’s
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Channel: Graham Stephan
Views: 1,699,905
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Keywords: how to invest, how to invest in stocks for beginners, how to invest in stocks, how to invest in your 20s, how to invest in real estate, how to invest 1000 dollars, how to invest money, how to invest in your 20s real estate, how to be wealthy, how to make money, how to make money online, how to make passive income, passive income ideas, how to start a business, real estate investing, real estate investing for beginners, stock market investing
Id: JC1W26IWB3A
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Length: 16min 58sec (1018 seconds)
Published: Mon May 13 2019
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Highschools should teach kids how to open a Roth IRA and get at least $1,000 in by graduating. Teach them how much that $1,000 will become. Teach them how every $1 they spend that they earn is like 16-20x they are taking from themselves in the future.
Kids aren't stupid, we just don't teach them this.
Money deposited into an IRA isn't locked up forever, only the earnings are locked in if you don't want to be taxed on them but you can withdrawl up to deposit amount with no extra taxes since you already paid taxes on deposits inside an IRA. You can also use earnings in an IRA for certain things like $10,000 towards the down payment on your first house without paying taxes on it.
As someone in their mid 30's who has preached this same message to anyone who will listen since his early 20's: do as I said, not as I did.
Go look at some of the humblebrags on r/personalfinance if you want to see what your first world problems could be if you save early and often. Just gotta filter out all the people who inherited $5,000,000 from Great Aunt Becky and now want to know how much house they can afford. Those people are on their way back to being broke.