Saved by the ... Savings Account!
"Do not save what is left after spending, but spend what is left after saving."
— Warren Buffett
Below are eight fundamentals to learn how to save, invest and hopefully help secure independent wealth over the course of your career. If you remember these key principles as you make your financial decisions you will find the process to be much easier and you will help put yourself in the best position to achieve independent wealth for yourself in retirement and for your family for generations to come.
This is just another tip to help you save money. Know what you are able to afford and live with that! Think before making a purchase about whether you are living beneath your means. Is that extra round of drinks at last call really necessary? Can you even tell the difference between the designer purse
We will explain later why you should consider primarily doing equity investing, but the point here is to just take the long-term view. Easier said than done. Your investments will almost assuredly see volatile swings over the course of your career. The S&P 500 Index saw a decline of almost -34% from Feb. 19, 2020,
Last, but certainly not least, give back. Give something to charitable causes to get in the habit. As your income increases, give more. Tithing says to give 10 percent of your income, but that is very difficult when you are young. Choose various charities that you feel make the world a better place. Bill Gates
We polled our financial advisors on some hard truths for young investors. Sorry not sorry for the tough love – hopefully it helps ground you in reality! If things are just “too tight” and you aren’t able to save 5 percent of your income, then the hard truth is you are simply living beyond your
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