Money Mistakes To Avoid In Your 20's and 30's
Tony Stephan, RD
Registered Dietitian, Owner of Stephan Group Real Estate Brokerage, 259 rental properties, & Online Dietitian Academy / Telehealth Services
Biggest MONEY Mistakes I made in my 20's:
- Trying to save money by starting a business on my own without help (ended up LOSING more money, time, and energy compared to when I hired a coach.)
- Not understanding inflation and how each year my money in the bank was LOSING money.
- Not understanding the bank was an INVESTOR not a saver...The bank lends out our hard earned money to investors to make a profit.
- Looking for the "cheapest" options instead of the BEST options.
- Thinking wealth and freedom came from earning more money. I made my first million at 28. I wasn't free.
- Waiting too long to start thinking about investing and not understanding the power of compounding interest.
- Asking advisors at banks with fancy titles who worked a 9-5 for advice on how to grow my businesses.
- Not buying real estate sooner.
- Thinking financial security came from a "safe job" and a salary.
- Investing in the stock market and a 401k (things I have NO control over on how they're valued) compared to real estate (something I have total control over.)
Overall, I enjoyed my 20's but made several mistakes that I wish most people would avoid.
And if you’re interested in growing your wealth and passive income in 2024 you’ll want to SUBSCRIBE to the YouTube channel as we are posting 2 videos weekly.
To your success.
Tony.
LinkedIn Top Voice | Founder @1%HR | Director @Windranger | Fractional CPO | Strategic HR Leader | HR Innovator in Crypto & Web3 |
10 个月Fantastic advice! ?? Steering clear of these money mistakes is like giving your future self a high-five. Kudos for shedding light on such crucial financial insights!