Hard Truths for Young Investors

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 means.
  • If you believe that you will start saving later vs. now, the hard truth is you will have to work twice as hard to replace your income in retirement.
  • No matter what the hype is or what you believe, the hard truth is there are no get rich quick schemes. Wealth comes from diligent adherence to simple discipline.
  • Your financial wealth and future are in your hands. The hard truth is there are no financial fairy godmothers granting you financial freedom.
  • Credit cards are not cash. If you are racking up credit card debt, the hard truth is that you are delaying your financial freedom.
  • Don’t listen to your friend at the bar talking about the next big stock. The hard truth is investing should be boring. It resembles grass growing.
  • Generosity is nice. The hard truth is, just because you are buying the most round of drinks it doesn’t mean you are the wealthiest person in the bar.
  • You aren’t going to be able to retire overnight. The hard truth is retirement comes from years of diligent goal setting and saving. Start now.
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All information included in this page and all pages throughout Young Money, Smart Money is provided for informational and educational purposes only and should not be taken as investment advice or a recommendation to invest accordingly. Investing involves risk, including a potential for a loss of principal. Educate yourself about all investments and funds you purchase, including their risks, objectives, and fees and expenses before investing. For additional assistance, please contact us or another financial professional for a more detailed review of your specific situation.