It is obvious that it is the 20s when the first step is taken to convert dreams into reality.
Let’s start with the famous quote of Warren Buffet “The most important investment you can make is in yourself.” This Financial Cycle starts from the ‘preparation Phase’ which lasts from childhood until one completes his/her education (till early 20s). Then comes the ‘Career/Profession Development Stage’ lasting till mid-30s followed by ‘Family Raising and Wealth Accumulation Phase’ lasting till mid-50s.
After the brief period of the ‘Pre-Retirement’ phase, finally comes the ‘Retirement Phase, the ‘Wealth Harvesting & Preservation’. This is the stage when one would have achieved the financial freedom.
So, it is obvious that it is the 20s when the first step is taken to convert dreams into reality.
BELOW HERE ARE 5 SOME IMPORTANT POINTS ON WHICH ONE MUST INVEST IN THEIR 20’S!
1) INVEST IN BOOKS:
No matter what happens with the stock market or the price of bitcoin, there is one area of your life where you have total control. “The #1 place you have total control with your investments is in yourself,” says Colorado financial advisor Matthew Jackson of Solid Wealth Advisors.
Jackson suggest investing in your personal, professional, and financial growth in whatever ways you see fit. Why? Because investing in your work ethic, skill set, or wealth of knowledge could be the best investment you’ll ever make.
“Read as many books as you can and attend conferences that support your growth,” says Jackson. “More importantly, be sure to apply the best advice to your daily life. Few things can land you an increase in pay or new opportunity quicker than highly developing your skills.”
When you invest in yourself, you simply cannot lose. If you’re in your 20’s, it’s still not too late to go back to school, earn an important certification that could advance your career, or start over in an industry you’ve always admired.
2) INVEST IN COURSES:
Skills multiplied by money or say skills applied to time generates money, this is the simple formula of money earning. If you don’t have any skill, you are missing the primary ingredient of money making formula. For learning skill, one must invest in courses and keep on achieving and boosting their skills. In today’s modern world, you can do courses sitting at your home on your laptop going online on the internet at your comfort. One must invest in courses in their 20’s.
3) INVEST TO SAVE AND INVEST:
You might be broke, but you need to save and invest. Please do not make the excuse that you do not have enough money to save. Is it possible for you to save a $1 a day? I am confident that every single person reading this article has the ability to save $1 a day. So what you mean when you say you can’t save is that you can’t save an amount that you consider meaningful. Those are two different things. At this point, it doesn’t matter how much you save and invest. What is important is the person you become once you start. You become someone who saves and invests. This changes who you are. It also allows you to take advantage of investment compounding. The best vehicle for most 20- or 30-year-olds is a Roth IRA. It may sound intimidating, but it shouldn’t take you more than 10 minutes to set up and to have money automatically shifted from your paycheck or checking account each month. In the world of personal finance, it is one of those no-brainer moves that could end up being one of the most important financial decisions you could make in your life.
4) INVEST IN EXPERIENCES:
In your 20s, you’re full of enthusiasm and energy and usually have the mobility to indulge a bit of wanderlust. So indulge it.
Experience new cultures, countries, and challenges. You will learn things that you can take with you and apply to your life back at home.
5) INVEST IN YOUR HEALTH/WELL BEING:
Making time at night to wash your face, exercise, and remembering to apply (and reapply) sunscreen may not be on the top of your priority list, but it should be.
General health care is something that, later in life, you will be glad you considered in your 20s.
“No matter what you do in your life, you will do it in your body. You cannot replace it, get a new one, or trade it in. This is your body and you will live in it.”
“The failure to invest in youth reflects a lack of compassion and a colossal failure of common sense. – Coretta Scott King“
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