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THEY SAY: As of now, the general consensus is that college-educated salaries go up over time, as you gain more experience. Because of that, it becomes EASIER to contribute larger amounts to retirement as you make more money, LATER IN LIFE. PLUS, INFLATION also makes buying things more expensive over time – so, they say: the time to spend is while your income is LOW, enjoy things NOW while you’re healthy enough to enjoy them…and THEN, by 40 years old, saving for retirement will be EASIER, without cutting back, because you will already be in your peak earning years.
However, there are a few obvious assumptions:
First, they assume that Social Security will replace 33% of your income in retirement.
Ultimately, the only way for the social security fund to continue functioning is if more and more people contribute to it to pay off the previous people, who are now living longer and continue receiving payouts…but, that’s not happening. The social security fund is said to be underfunded, and current reserves could run out by 2031.
Second, they assume that your income will steadily increase over time – and this isn’t something that’s GUARANTEED.
Third, LIFE HAPPENS.
Nothing is guaranteed – including that we’ll actually be old enough to enjoy our money one day…but most likely, you will live through your 70s.
As for me, I think NOT SAVING for retirement throughout your 20’s is a HUGE mistake…simply because your 20’s are the EASIEST TIME for you to invest. If anything, I think NOT INVESTING before 40 will make you WAY more miserable…than investing too much BEFORE 40…and that’s something a chart won’t be able to calculate.
That’s why, I see the BEST, EASIEST SOLUTION to all of this is just this simple: save and invest as early as possible, and prioritize this as a necessary budget. If there’s anything left over that’s above the amount you budgeted for, consider using THAT amount for your “fun money.” BUT, just like you wouldn’t skip your rent payment so you can got o Coachella…you shouldn’t skip a Roth RA contribution because you want to buy something else instead.
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100 dollars a month in VTI nasdaq or VOO won’t hurt you in your early years
I once read somewhere, "unless you have 10k to start investing – don't bother."
And. It shouldn't be your last 10k.
Nice video, I recently started trading the Crypt0 market and I've been earning greatly from it. Although I'm able to achieve that by investing with BRENDA MCLEAN a FINRA regulated broker.
And here I am wishing I'd started investing at 20 when I started at 24. No one said I saved too much money and even if such a person existed I'd rather have too much money as opposed to living off what social security will be paying out when I'm 70.
Can you do an update for best bank accounts 2021? Savings and checking. I watched your last one like this and all of the percentages decreased! Do you still love ally?
The "never have to work another day in your life is flawed".
If everyone did this, who is going to clean the streets, plumb the houses, stock the shelves? Investing is by its very nature, gambling. You are taking a risk with the hopes of getting more back than you invested.
Stocks have winners and losers, what do the losers do when they have crashed out?
Wouldn't it be more feasible to aim for making the minimum wage a living wage so that people who are working don't have to rely on risking their money on the hopes they can live a little better, or for most people these days, just trying to do better than survive.
Only at 3:10 and can see a massive flaw in their argument. Peak earning years, only good for investing if your wage has outstripped inflation. Most don't. Also, the more people make, most generally, the more people spend. Finally, peak earning might be peak spending for other reasons; home ownership, kids, other adult necessities.
Now back to this to see how it plays out.
Great video! I think there should definitely be a balance.
Your video titles are mostly click bait. Why?
Such a fan of this man , preach it !!
On average we live 10 years.
You’re making me feel real bad for not seeing your videos when I was 20 😂 (almost 29 aka almost 30 aka a failure)
Graham has the power to make starbucks out of business by 2030
Internet: but but but but
Graham: STOOOPID
The earlier you invest and focus on multiplying your money, the earlier you can stop being a slave to this world.
People blow off investing until 40 and wonder why their retirement and other money accounts aren't what they truly want when it's time to retire.
Always invest within the nest!!
asdasd adasd asdasd asdasd
A lot of 20 years old can't save 400 a months as they have to repay their loans…
raise the social security cap on taxes don't raise the rate
I'm 19 but 1st I hv to earn to invest..back to work
Part of the problem is the consumerism brainwashing that pushes people to spend their money on stupid products: huge vehicles, latest version of electronics, massive televisions, daily fast food. Lower income families end up living paycheck to paycheck and never invest. Many end up working at low income jobs when they are senior citizens.
Intro idea: What's up guys, Graham here, if you could, launch a cryptocurrency and name it Graham Stephan, then infiltrate Tesla and then pitch the currency to Mr.Musk so he post about it on Twitter which really would help spread the good word for my channel.
One possible partial solution to SS: Everyone must op in or out at age 18 or whenever one starts working. If opting out then you don't pay into SS and you don't receive it…ever. If someone regrets that choice 10 yrs later then he/she can prioritize funding his/her own IRA account. If most opt out then a generation of us will get little benefits but maybe it's best to phase it out anyway and stress financial literacy sooner.
Well for me im getting started at 19 while in college paid in full so any money I make is mine and I'm wanting investing 50% of all my money because as of now I have no massive bills.
Does this seem wise or should I change it up?
Make a video about the social security program
Investing the younger the better, everyone knows that. Just because someone wrote an article or did a study doesn't mean anything. Money talks. Buy GME and AMC and bet the farm.
I'm 40 and I'm very happy that I consistently invested since age 21.
Wish i started earlier :'P
Here is the comment for the algorithm. I hate the "like" ding that you use.
im 18 and puts like 70% of my income in investments
Gen-Z/Millennials are also in the cusp of plenty of work to come. I work at UPS and in the first year i already got an opportunity to become a feeder truck driver for them at the age of 21 and that’s drastic because most go from warehouse workers to package drivers and won’t be able to become a feeder driver (which in CA hourly rate for feeder is $40/hr with progressions) until working as a package driver for 10-20+ years for a shot to get into it. And it has to do with a lot of businesses growing and many drivers retiring so there’s gonna be a lot of gaps to fill. Plenty of opportunities to come for Us to take on.
One should invest in their 20s because later in their life the responsibilities add up and the bills multiply so less money to divide for assets
Investment requires patients and consistency
I liked because the spongebob vid 🙂
You speak so fast 😅 but your videos are a great way to improve my English and learn another point of view 🤓👍. Gracias 🇲🇽
Learning a lot from just taking your methods and making them my own
This is why I literally only watch YouTube I don’t watch regular news.
12:45 is that million dollars before or after inflation?
I’m 18 and as soon I get a job I’m gonna start investing 15% of my paychecks. I wanna retire happy!
I mean technically social security is generating its income from treasury bonds, which has insanely low yield. If they just invest in higher yield asset like S&P 500, then it can afford to pay more people with more benefit without raising taxes or reduce benefit . The price premium for low volatility of treasure bond is way overvalue imho. Especially if you compare the relative time ratio of bear market versus bull market. With modern asset instrument like vix index and inverse index etf, it can literally make money in a bear market, choppy side way market or bull market. Well you still have to identify these inflection points. Inverse index and volatility index were not as wide spread before the 2008 financial crisis.
The Like button logo with a bandage on the thumb is a nice touch 🤣
God Bless you! 🙌 Thank you! Always enjoy watching you. Even though you speak so fast, I miss half of it )))))
Congrats on the facial hair!
Bold of them to assume that I'm just investing to retire. My current goal is just building up enough to buy a car, and have all the maintenance/gas/insurance covered by dividend payments.
I'm waiting on getting a more stable life before worrying too too much about retirement, and investments can help with that stability.
Getting used to having whatever you want for 20 years until you're 40 and then suddenly switching to frugality and buying nothing is exactly what will make people miserable for the remainder of their lives. Life should get better as you go on, not worse.
i am very lucky my grandpa and dad opened a custodial account when i was born and i will have control over it when i am 25 (18 at the moment) and it is worth a lot. also i am investing on an account with another broker so i dont have to wait to be 25 years old.
The title of this video sounds elitist. But your a cool cat!
Eh. I didn' start aggressively investing until 28 and I regret that decision. Investing is a muscle that has to be worked and built up over time.
I wonder if Graham is Yang Gang…