Investing for retirement in your 20's | JazzWealth.com



Oh to be in my twenties again…… good times. Ok, so today I'm talking to those of you that are in your 20’s or maybe just getting into your 30’s. Let’s talk about retirement investing. Now I know this is the absolute last thing you want to think about right now BUT a little bit of work right now is going to set you up for an amazing retirement that I promise you, will be here before you know it. Now, before we can get to any of the fun stuff, we have to talk about budgeting. I know…But, Your just reaching an age where you’ve got some decent income coming in or maybe your working on that first real job. I know its not exciting but we have to get you to start budgeting that money. How much is going to rent, food, fun. And you know there are some great apps out there or even maybe your bank offers a budgeting feature that will do the work for you. Either way, track your money cause it’s a proven fact that those who know where their money is going tend to save more. Now we want you to save because its very likely that you have some kind of debt. Hopefully its minimal, or maybe even some student loan debt. This is fine but we need to start getting that stuff paid off now. The reason is because you are at the absolute perfect age to start investing. Now im not just saying that because I want your business, Im saying this because if you start investing in your mid 20’s vs. your mid 40’s even $200 a month, there can be as much as a $500,000 difference in how much your account has at retirement. Now the advantage here is because you are young, not because you come from a wealthy family or get some kind of inheritance. Time is on your side. Use it wisely while your young and you can spend more of it when your old. So how do you start? Well when you get your first real job, if they offer you a 401k match then take it. Absolutely take it. A lot of times an employer will match a percentage of contributions that you make. This is like a 100% return right away on your money, you just have to take that. Now if you don’t have access to a 401k or your employer won’t match your contributions then you might just open an IRA or Roth IRA. Once you have your debt under control and you’ve saved some money you can open one and manage it yourself or you can call a guy and let them do it. Just be sure they don’t charge stupid fee’s, and don’t be afraid to ask about that. The markets have averaged a 7% return yearly since 1900, now that includes re-investing your dividends but that’s a side topic. So think of every dollar you invest as having the power of $1.07 for that year. Imagine every time you spend $10 at chipotle, and oh my god do I love chipoltle, you just lost out on a free $0.70 for the year, $0.75 the next year, $0.80 the next year and so on and so on. And that’s just for one trip to that magical burrito place. Anyways, remember, in your 20’s you might not have as much income as someone in their 40’s but you have more time then they could ever have. Also, as your income goes up, continue to contribute the same percentage towards your retirement. The icing on the cake if you will. Now, hopefully I motivated you to get started and if that’s true then were always here to help you. At Jazz we only succeed when you succeed. We’re kind of like your parents. We want you to do well in life, not move back home. Mom and I just got used to you out of the house, besides, we got dog and turned your room into a gym we never use.

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  1. Thanks for you video 👍


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