Thinking about investment at a young age is a blessing. you probably have no mortgage to cover, no spouse and no kids which put you in a great position to setup your life for a good future. This time of your life may not be the one where you need the money most but investing at this time will definitely ensure that you have money when you need the most.
1 ) The power of compounding interest lies in longer investment. Let’s say you invest $300 per month starting at age 20 and don’t stop until you’re 60-years-old. If you managed an 8 percent return during that time, you would have more than $1 million dollars in that account alone. if you delay a few years this amount can get half by just taking a few years away.
Increase your savings each year. Start to develop a routine not to overspent, see where you can save money and try to save 1% every year of your earning.
Ignore all the cool stuff your friends are doing. instagram facebook twitter are good but if they distract you, ignore them.
Convert your savings into alternate currency / investment. if you have $100k by the time you are 30 years old, consider buying a real estate property with it that also increases in value over time. or you can convert into gold or bitcoin.
