How To Invest Your Money In Your 20’s

are you in your twenties but you're not so sure how to invest your money it's a confusing world out there right and I know I've been getting a lot of questions asking well then what should I invest in is it you know what a thing of cryptocurrencies what do you think of forex trading what a thing of penny stocks were to think about this type of investments and very often I don't invest in any of those things because quite frankly I don't believe in them right a lot of times feel forget the fundamentals and the odds always chasing the shiny objects right they think that it's gonna be the latest whatever investment schemes and you know it takes you a long time thinking about it with whatever you do to accumulate they live the capital the money that you have and yet you could lose that money just like that so my goal for you is to make sure that you don't make those mistakes you want to learn from me listen carefully right today I'm going to share with you three strategies on how do you invest the money that you have in your 20s strategy number one when you're in your 20s I know that it feels like you don't have a lot of time but you actually have more time than you think one of the things that you have working for you is time you can use and leverage the power of compound interest so strategy number one and that is investing in increasing your income you see when you're in your twenties if you can make more money if you can increase your income what does that do it gives you more money to invest so instead of worrying way too much about getting the maximum return why don't you invest in yourself now maybe for some is reading that book maybe is learning public speaking right joining a local Toastmasters learning your communication skill maybe also going to certain networking functions and developing your network and expanding your contact list because your network equals your net worth so maybe you want to do that there are a lot of things that you can invest to increase your come don't go so rushing into the marketplace and buying all kinds of investment things like that gimmicks don't do that invest in yourself you'll always get the maximum return when you are investing in yourself now it might mean different things different people so comment below how could you invest in yourself how could you invest to increase your income maybe learning new skill sets whatever it might be comment below strategy number two focus on the big three C there are three types of investments in this world and these three types of investments had created more billionaires and millionaires than anything else they are businesses stocks and real estate that is it businesses stocks and real estate these three categories that these are what I call the big three right you look at most wealthy people as portfolio they have these three things now they feel exception where they might have a few other things but pretty much almost all wealthy people either create their wealth or they now hold their wealth in these three categories so there you go success leaves Clues so stop paying attention to so much noise out there especially when you see someone a buddy of yours on Facebook or whatever trying to sell whatever they've got talking about this thing they're not wealthy right you look at the wealthy people what do they invest in how do they invest in it right you don't need fancy techniques now with thin stocks with thin businesses with the real estate there are so many different categories right and maybe we can go into this more in the future if there's something that you want make sure you comment below so we think that you might want to pick a certain Garrity categories that it makes sense to you that you want to master because last thing you want to do is you want to invest something that you don't understand that it's very very stupid right always only invest in something that you understand take some time to understand it and you don't have to understand everything by the way forget no one to master everything we in real estate everything within the stock category and there's so much to study right when in doubt keep it very very simple strategy number three I believe you need three types of financial plants most people have got zero financial planning there are three types of plans that you need now if read my book have your money you know some things that I'm talking about the very first plan that you need everybody needs is a plan for get rich certainty that's correct get rich certainty now what do I mean by that it means that it is something that is a plan yeah you know for sure it doesn't matter what you do it doesn't matter what you do to make money doesn't matter your business owner it doesn't matter you're working for somebody else every single one of us needs to have a loose side business I caught a side business investing so get rich circle it means that you're putting some money aside you're investing perhaps in a low-cost index fund in 30 40 years especially if you start in your 20s you know that you would have accumulate a nest egg you know you would be comfortable you know you could retire that's good it's not the only plan but most people don't even have this plan so get rich certain we don't want it to be fancy we want it to be set it forget it kind of plan right we don't touch it you don't need to talk about it this at dinner party you should not be talking about your latest investment and the you.we union and parties things like that it doesn't make sense it shouldn't be like that nice and boring that's good get rich certain then you have the second plan which is what I call get rich smart get Richemont now you are much more involved think about get rich certain that's passive get respond you're a little bit more active you're more like an active investor you're learning right the more skills you have the most sophisticated you become as an investor the higher the return you'll be able to generate get rich smart and then you have a plan for get rich fast get rich fast so once you think about this way get rich student 30-year plan get we're smart ten twenty year plan and then you have to get rich fast a five seven year plan you cannot just say well Dan forget it I don't want a 20 30 year plan just give me the quick one it doesn't work that way because with the get rich fast it requires a different level of skills also sometimes you might require just a little bit more risk you don't just want to do this you need to do this one first let's make sure in 30 40 years you're gonna win no matter what no matter what happens to these investments you're gonna win right this is your safety net great and it's so simple right little bit money aside few hundred dollars a month depends on how much you earn aside in 34 years you're set great in the meantime let's work on that 10 20 year plan what we could do to be more an active investor pick a category out of the big three that you want to focus on do that right great and then you have a plan we'll get rich fast that's the five seven year plan what could you do to earn more earn a lot more than what you're earning right now how could you double triple your income every few years so you can earn more and you can put that money in different buckets right now you can put it in two different plans that's it nothing fancy that's the best way to invest forget about all that noise on social media keep it very very simple investing it's not supposed to be an exciting thing keep it boring should be very repetitive people asking you well how's your investment going same thing in a few years how's it going we're kind of the same thing that's a good response but it shouldn't be all man last weekly it did this oh no last two months it did that that's not a sophisticated investor that is a naive stupid amateur that's not what we do if you want me to make more videos on investing make sure you comment below and hit the like button if this is the first time you are watching my video make sure you hit the subscribe button every single day we upload a video for you so hit that subscribe button and go ahead and watch the other videos right now

Channel: Dan Lok

Views: 771,624

Keywords: how to invest your money in your 20s, how to invest your money in 2020, how to invest as a young person, how to invest in your 20s, how to invest money, how to invest money in your 20s, how to invest money online, how to invest when young, investing money in your 20s, how to buy a house in your 20s, how to create wealth, best investments in your 20s, learn to invest, invest, money, invest money, investing in 20s, investing, investing 101, investing early, investing tips

Id: trNP2uorkLQ

Length: 8min 47sec (527 seconds)

Published: Wed Dec 04 2019