How To Invest In Your 20’s to be Wealthy In Your 30’s

These are my recommendations and strategies that I’ve figured out along the way, that you can utilize to really make the most out of your 20’s, financially. Enjoy! Add me on Tiktok: @vietharvey
First thing, if you’re in your 20’s…INVEST EVERYTHING, IMMEDIATELY.
$1 invested at 20 years old at a 7% return will be worth $21 at the age of 65.
However…if you wait, and invest that same $1 at 30 years old, it’ll only be worth $10.68 at the age of 65.
This means your money is worth TWICE AS MUCH when you’re 20 years old, than when you’re 30 years old.

Open up a Roth IRA immediately, and contribute to it.
First, you’re probably not making a ton of money right now, so you’re already in a really low tax bracket - this means VERY little money is lost to taxes upfront, leaving you with MORE money left over to invest.
Second, you’re young enough that you’ll have DECADES of growth that’ll be tax free when you’re older - and that means more money in your pocket

Saving 10% of your income, like so many financial advisors recommend, is just not enough.
10% is a start, but when you consider just how much money you can make in compound interest in your 20’s, you should ideally get in the habit of saving and investing MORE upfront, because your money is worth more NOW than it will be in the future.

That’s why I think it’s so important to LIVE WHILE YOU’RE BROKE IN YOUR 20’S.
Your 20’s are a free-pass to live like your broke, because no one expects you to have anything, anyway..

Second: If you want to be wealthy in your 30’s, you should start your own business in your 20’s.
Here’s the magic of doing this: with the internet, there has never been more of a level playing field in terms of building wealth. The best way to make a ton of money and become wealthy, is by starting a business, and have that business be mobile. Most of the time, a business will make you WAY more money than your investments will EVER make.

So when you’re in your 20’s, PLAY TO WIN and make as much money as you can. Then, WITH THAT MONEY, invest “NOT TO LOSE” so you actually keep it. That way, you’ll always have your foundation working for you, no matter what…so remember, be aggressive with business, be safe with investments.

Third: TAKE RISKS.
You have a VERY unique time right now where, if you try something and fail, you have plenty of time to recover. If you lose money, it’s no big deal. If something doesn’t work out, oh well, it’s not the end of the world.

This also applies to INVESTING in your 20’s, as well…you can make much riskier investments, because you have a much longer timeframe to recover from any losses.

Fourth: Reconsider College.
Honestly, for most people who really want to become WEALTHY early in life - college does very little for you. In fact, most of the time it’ll set you back between the cost of college, and the opportunity cost of wasting 4 years in a classroom where you could be out there actually doing something.

Fifth: AVOID LIFESTYLE INFLATION.
If you make more money, keep your expenses the same - don’t change a thing - and invest the difference.

Sixth: Stay away from bad debt.
If your DEBT isn’t MAKING you money, AVOID IT. Plain and simple.