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What should be the top financial priorities for those in their 20s?

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BenefitJack
BenefitJack
1 month ago

Ben Franklin, advice that is enduring, secure and lifelong: “An investment in knowledge pays the best interest.”

Ginger Williams
Ginger Williams
2 months ago

Learn to live frugally, so you can invest. Invite friends to bring their own beer over for game night and serve homemade nachos instead of going out. Drive a compact car instead of a truck or SUV. Learn to cook. Tell your folks you’d really love a couple of nice bento boxes and an insulated lunch bag for your birthday, so you can take healthy lunches to work.

johntlim
johntlim
8 months ago

Two. 1) Invest in yourself. Your greatest asset when you are young is your human capital. 2) Save a little and save more each year. Saving is like a muscle, more you use it, the larger it becomes.

Chazooo
Chazooo
8 months ago

What did the participants on here do in their 20’s – follow the advice they give here? I lived hand-to-mouth in my early career so the thought of “saving” was not on my radar as much as “survival” was. No brand new fancy car, apartment, or travel was in the picture – it was about not running out of money before the next payday while paying rent, utilities, INSURANCE, and praying for a raise in pay without the car breaking down. Saving was just a concept to me at that time.

Kyle Mcintosh
Kyle Mcintosh
8 months ago

In this order: Carry no credit card debt. Max out the 401(k).

Ben Rodriguez
Ben Rodriguez
9 months ago

Get out of debt and ROTH it up!

Sanjib Saha
Sanjib Saha
9 months ago

Watch the expenses; Contribute to ROTH IRA (direct or backdoor); Max out workplace retirement, or save the same amount on your own if there isn’t a workplace plan; Not enough money? Assume that there was a big layoff in your company and you got away with a 25K pay-cut.

Nicholas Clements
Nicholas Clements
9 months ago

Save, save, save. Be frugal.

Andrew Forsythe
Andrew Forsythe
9 months ago

Agree with Dick on saving (till it hurts) and never carrying a CC balance. And would add—never pass up an employer match on retirement plan contributions—it’s free money.

R Quinn
R Quinn
9 months ago

Save first, don’t ever pay credit card interest, spend as you like with what’s left.

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