Here are the 5 financial milestones that everyone should aim to achieve in their 20’s – Enjoy! Add me on Instagram: GPStephan
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First, and the most reasonable goal that I think everyone should aim to hit in your 20s…is to get your credit score above 750:
For anyone who’s not aware…your credit score is just a calculation that shows how responsible you are in paying back money that you owe. That might include credit cards, auto loans, student loans, a mortgage payment…or, anything else where you aren’t paying for something with your own money, upfront. And this term known as a “Credit Score” is basically a grade that lenders use when determining how much of a loan you’ll get, and what interest rate you’ll pay.
Second, speaking of paying off debt…it would make me happy if, by the time you’re 30…you’ve gotten yourself, what I like to call…”BAD-DEBT FREE.” It’s like saying “Debt Free”…except it’s BAD DEBT FREE.
So, really – from the way I see it – it’s not necessary to want to call yourself entirely DEBT FREE by the age of 30….because, some types of debt can actually be really useful in terms of making more money and being financially responsible.
Third, by the age of 30, you should have at LEAST 1.5 years of your expenses invested.
That means, if you’re spending $3000 per month on rent, utilities, car payment, food, and smashing the like button…you should have, at MINIMUM, $54,000 invested in the markets. Or, if your spending $2000 a month…that equals $36,000 invested.
Fourth, I highly recommend that – by the age of 30 – you create a SECOND source of income in addition to your main job.
This is something I’m surprised isn’t mentioned more…because, as you get older and advance further in your career…it’s so important to use that as LEVERAGE to make even more money, and diversify your income into other areas. After all, when surveyed, it was found that nearly 2 out of 3 millionaires had at least ONE extra source of income – with the most common being real estate investing:
https://www.businessinsider.com/how-millionaires-manage-money-interviews-2018-12/commerce-on-business-insider
Fifth, by the age of 30…I’d recommend that you aim to save at LEAST 25% of your income each year, and invest that amount towards your retirement.
For most people to save and invest 25% of their income, it takes skill. You need to be dedicated to tracking your expenses, you need to be disciplined when it comes to your spending, you need to live below your means, and you need to place an importance on the future…and investing 25% of your income just comes as a byproduct of doing all of those things, consistently. Not only that, but it also motivates you to increase your income, just so that you’re able to maximize the value of your own time – and then pocket the difference.
For business or one-on-one real estate investing/real estate agent consulting inquiries, you can reach me at GrahamStephanBusiness@gmail.com
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I hate to break this to you Graham, you are nothing close to what you think you are.
You have loans and you’re in debt.
You are not a millionaire, wake up.
I’m currently 17 years old & I’m planning to take out a hefty loan for my real estate / villa business in the very near future. How many years or how long for that matter, would it take for me to build a credit score of 700+ given I will be living below my means & not making bad financial decisions. I will do everything for that loan & to get a score of 700+.
All insights would be greatly appreciated! Thank you!
How to be rich in 2020 ? Do videos on youtube on “how to be a millionaire ?” and become rich by getting views. It is that simple guys. Start today.
24 yo
1. Credit score 810
2. 1 property in Toronto
3. 120k in savings
4. Saving 70-80% of my salary
Great video!! If anyone is looking for help in achieving these goals then…
Check us out if you are looking for help with your business. We put out regular content in the areas of real estate, business and having the best mindset for success..
My Honda Civic Car loan is 7.8% through Ally. ..
?
Great video! Great advise!
Keep this content coming!
Thanks for this! great video with lots of quality information!
try to do a deeper voice, thank me later
its easy to do this if you live in like texas but what if you live in California? lol
Why am I getting 2 ads every 2 minutes? Great content but almost unbearable to be interrupted so often ;(
I’m turning thirty this year and I’m 10 points way from an 800 credit score 🙌🏼
Ok at 19 I have the first two down. I think that’s good 👍
I guess i’m lucky to have 40-50% interest on debt 😀
Imagine working 35 years like a dog just to be -1900$ net LOL
Cool zenith el primero 😉
This was great, thanks, I been tryin to find out about “us financial freedom” for a while now, and I think this has helped. You ever tried – Ferapt Freedom Fanboy – (should be on google have a look ) ? Ive heard some super things about it and my co-worker got great results with it.
Just reached my financial goal for 2020 and we’re only half way through the year. Yay! 😀 And because I’m one of those that doesn’t talk about money with the people I know but still feel the need to mark the occasion somehow I’m leaving a comment here :)))
Nobody around me has known how to get a grip on money so
I am VERY thankful that you post videos!
my current position for these goals.
1. 729 credit score
2. working on refinancing my car loan. (currently at 11% rate for being young and stupidly buying a new car)
3. I have 1 year of expenses invested currently
4. Swing Trading on the side of my career position
5. saving 20% of my income
I am 22 years old. Live in Tennessee! just recently started though and glad to be here :]
These are all things you should do in your twenties lol. Not the thing about having x amount of dollars invested but all the other things.
Don’t worry Graham I smashed the like button👍
“The first thing you need is good credit”.
Dave Ramsey “Im gonna have to stop you right there”
I love the dichotomy in philosophical views about credit. I think it’s important to remember that credit is just a tool, and like any tool, can be used for good and evil.
My favorite Dave retort!
ALL LOANS ARE BAD. GET OUT OF DEBT. RICE AND BEAAAANSSS
23 yo
1. Bought my first property
2. Rent it to have positive cash flow
3. Save 50% of my monthly salary
4. Aim to have 100k by 26
5. Live like you’re broke
Video was definitely not lame. I smashed the like button.
I have all of those and i’m almost 30 but I can’t find a house cheap enough for me to buy
You’re nose look’s so cute :3
I’ve saved all of my money the past couple months I got 23,000 dollars at 19 😎 im also in the mitary so free college yeet
I’d give anything to have never gone to college. 😢😢😢
There are loans for less than 4% interest? Where??
I applied for my va loan this week thinking I had a 706 because of Experian. I have 790💩
God I hate you every time you mention that like bottom 🤣😂😂
To late
Do a quick google search for *ECOM BAZZOID* someone posted your courses Graham
Do a quick google search for *ECOM BAZZOID* someone posted your courses Graham
Do a quick google search for *ECOM BAZZOID* someone posted your courses Graham
Do a quick google search for *ECOM BAZZOID* someone posted your courses Graham
Do a quick google search for *ECOM BAZZOID* someone posted your courses Graham
Do a quick google search for *ECOM BAZZOID* someone posted your courses Graham
Do a quick google search for *ECOM BAZZOID* someone posted your courses Graham
Love your videos and advice, although I have to disagree with you when it comes to #5. You mentioned “living below your means” and “doing the bare minimum” but there is a certain element to overall happiness and well-being that should be prioritized in your late twenties / early thirties. Its definitely a personal decision but I have been able to save plenty while still enjoying some of the things that I enjoy. Nobody should ever sacrifice that
Keep making videos, brother! I appreciate you!
Sigh I had above 750 pre quarantine and now I haven’t been spending a dime and it went down 😭
From what I’ve seen America makes it impossible for you guys to save at all, I’d go crazy if it was the same here, I work as a police officer and am able to save 50% of my £39,000 ($49,000 I think) wages but I can’t see the same being possible over there.
I live with my parents and I’m 17. People in my family have always struggled with money and so I was terrified to have to rely on my parents at all times. Got a job at 16 and have saved just under 15k. I hope to get into trading when I’m 18 and do real estate.
Can someone explain
What will we do with money if we live below our means for our WHOLE LIFE
25 811
I instagram you Graham but you never commented back?
When you say “invested” do you mean in a 401k? Or do you mean we should have a 401k and in addition to those contributions we should have 1.5 years word of expenses invested?
Thank you, I been spending a lot of money but I’ve also been saving, I’m going to stop spending more than I need to and by doing this i should have $10,000 in my Savings by the end of the year, I’m 22. 😜👌
does a 2nd income source include another job or passive income
Wheres best to invest 100quid a month to start the process ? Iv never invested before but i want to start asap
I smash the like button after I’ve listened everything Graham says. Sorry Graham hahaha
I am 22 and my credit score is over 780
Do a video for those of us making less than 30k a year
I am 18 and have invested 45 Thousand 💵 in stock markets by 30 I wanna have at least 15 million dollars
Kittisaurus!
Thank you Graham for the ‘easy to digest’ advice. I am grateful for your videos. I wish you success.
17 yo
1. 0 properties..
2. 300 dollars in savings 😂🙏
3. I save 89% of my allowance
4. Still broke
i am 12, and watching this
I am 20 years old. The big point I understood here is “Smach the LIKE BUTTON”
Your channel is my rabbit hole
Open another credit card account, got you.
“From the way I see it, not all debt is bad debt.”
Dave Ramsey: 🧐🧐🧐🧐
My 20s were rough financially. I got two years left. I don’t think I can achieve all this by 30, but I’ll aim to get as close as possible.
Hopefully these stonks on AMC send me to the moon ✨🚀✨✨✨🌕
You’re like a finance daddy.
So I already find financing and budgeting quite fun (I’m 19 and love working out my costs of living) so these milestones help me apply them. Thanks!
det
homie you are talking to a 16 yr old who is tryna understand life
Things like the car in the thumbnail is exactly why your subscribers don’t trust this garbage anymore.
@12:00 Looks like the Equinox in Paramus, NJ 👀
The more you remind me to “smash the like button” the less I feel inclined to do so. Feels like begging at this point.
But what if u are still in your 13s
FYI you are starting to brag way too much. Your charm in the beginning was that you were informative and didnt make almost every video about how much you have. I guess thats whats entertaining now a days anyways wish you all the luck in the world
God damn, this smashing works.
Love this video. Just hate to think sometimes that taxes will take a good amount out of someone’s salary, when you earn that and can make more money with it.
I am 23 this year and I happy that I accomplished 4/5, now I really need to go get a credit card ASAP.
Made a second account so i could like the vids
Omg Lulu 💖 such a sweet kitty
The school didn’t teach us these things, Thanks, Graham!
Not even 20 and already met the first goal.
In your description you listed your camera equipment. The lens you listed works only for Nikon cameras and yet, your camera bodies are both Canon. These are non compatible.
Nice
Hi Graham, where should we be investing this 25% of our income if we are already contributing to 401k and maxed out Roth IRA?
Cudos Stephan!! Also jsyk, the algorithm really wants likes + comments.
Hey Graham these are really helpful! I would love more FinAdvice like this. I don’t think every is as Financially savvy watching as you think.
your like button jokes are getting funnier and funnier…you got my like, sir!
Credit score isn’t important here in the Netherlands
I’m so glad he makes these videos! There is too many people who don’t know ANYTHING about the real world until they are thrown into the real world with out the tools to build their net worth!!
do you mean vested money or are you including earnings as well.
Yeah building your credit score is definitely not free it cost you time at the very least and some of us see our time is valuable and some do not
Hi 👋
I’m 16 and will hopefully be able to update this comment after my 20’s and see where I am at that point (currently have achieved 0/5 lol)
Be nice if you did some videos for people with lots of children. Investing in yourself while investing in your Family! Boom! Some of the work is done 😏😁😁
NO.1 TIP don’t buy anything shown in thumbnail
Well $#!+ I’m 23 1/2 . . . so I’m a bit late on this video but regardless this does help me a lot
Nice one, I’m 23
Can you make a game/series where you start from nothing and try moving up? because you are already a millionaire, so it is looking from the top, down. I wanna watch someone succeed starting from the bottom, looking up.
Really good video I subscribed 💪🏽⭐️
thanks Graham! I’ll try to invest 25% from now on.