How To Build Wealth In Your 20s! | Clever Girl Finance
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- เผยแพร่เมื่อ 28 พ.ย. 2024
- Are you in your twenties? This is a great time to build long-term wealth! A lot of us past our twenties would give anything to reclaim them. Why? We would definitely do things differently with our money. Like, avoid debt, save and invest early.
However, if you are in your twenties now, you can start building wealth and avoiding costly financial mistakes by following these 8 steps.
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Actionable steps to Building wealth as a late 20-something :
1. Max out Roth IRA every year and as collect as much of my employer match as possible.
2. Live on 39% or less of my income and save/invest the rest.
3. Invest in experiences rather than items.
It’s so hard to try to stay on track with your finances and get ahead without sacrificing a lot. As someone who had a tough childhood, I find this time to enjoy life a bit. I want to be able to enjoy my youth and energy now that i have it but not fall behind or make bad financial decisions.
Thank you for sharing your knowledge. You’re helping so many of us break generational cycles and prioritize our futures. ❤️
I was always confused by the term "building wealth." After watching the video, it seems as if I am already doing it--- this past year motivated me to get my financial situation in order and I opened my first IRA. I will be starting a new job soon, so I will have an increased budget meaning my money goals will be reached even sooner. Thank you for the tips!
Woot woot well done! You are doing amazing!!!!
Needed this. My future finances has been a huge focus in my mind
You got this! Thanks for tuning in! Thanks
Budgeting and Investing for your retirement is so Important. The earlier the better. Great Video!! I Love The Channel!!
Thanks so much for tuning in!
I agree 100%, the earlier you invest, the better the compound interest effect is exploited.
Nothing but facts!
Oh how I wish I could go back and do things better! BUT it’s never too late to build healthier habits!
Great points! I'm at that 'increase income AND cut down on expenses' phase.
You got this! Keep going!
Great video, love that content! Budgeting is the foundation to all financial goals, whether it's paying off debt, to save money or working toward early retirement.
Thanks for tuning in!
Thank you for this amazing knowledge!!! I am currently saving, investing, maximizing my retirement account, working a side hustle, and learning as much as I can!
I started creating. Budget plan after watching this video and even repost the content on my blog thank you 😊
Well done
I'm 23 and a few months ago started making monthly budgets as well as tracking my everyday spending. I've also started putting money aside for emergencies and to use for investment and am still learning more about investments so I can make an informed decision. I've also started setting short term, midterm and long term money goals 😃. I'm taking your free courses on side hustles, it's been a HUGE help. Any suggestions for how I can look for a mentor?
Is there anywhere within your network that you can think of? You are doing so great!
@@Clevergirlfinance Thank you for that affirmation😄 I think my older sister is a great candidate. She's been a really great accountability partner and is constantly working me through some of her learnings and sending me different videos about finance.
You are doing well!
Maybe do a series on what to do in each age decade?
We have a series in our blog! Can definitely plan out the videos. Thank you!
Thanks
Thanks for tuning in!
What’s the difference between an IRA & whole life? I have whole Life insurance.
I love this
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Hey girls, does someone want to be my accountability partner? I am a student based I. Germany so someone with same situation would be really appreciated 🥰
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