The exact math on why to start investing early. | FinTips

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  • Опубліковано 11 жов 2024

КОМЕНТАРІ • 43

  • @utseay
    @utseay 5 років тому +4

    They should teach this in middle and high schools. I was 24 before it was even mentioned to me by my new employer. I contributed the match to our 401k. Had I had some knowledge I’d went way higher.

  • @linkbelt111
    @linkbelt111 5 років тому +4

    I had to start over at 45, glad I worked hard the first 5 years, life’s been good to me. So has American, Fidelity, and Chucky....

    • @utseay
      @utseay 5 років тому +1

      Chucky? Jon Gruden?

    • @linkbelt111
      @linkbelt111 5 років тому +1

      utseay LOLOL.....Schwab

  • @06Awake
    @06Awake 5 років тому +7

    When I was 19 I couldn't save $50/mo. To save my life. I'm proud of where I am now.

    • @utseay
      @utseay 5 років тому

      Daniel Sanchez you up to $55 /mo now?

    • @06Awake
      @06Awake 5 років тому +2

      @@utseay something like that $350-400 depending on how many times we go out for sushi that month.

    • @utseay
      @utseay 5 років тому

      @@06Awake Awesome!

  • @TommyNguyen1010
    @TommyNguyen1010 5 років тому +4

    I guess I am way ahead of this game as I am 29 and been contributing 1500 a month toward my 457 account. Also maxed out my Roth IRA as well. This channel is great to keep me motivate with my money and how to save.

    • @nebulanesian369
      @nebulanesian369 5 років тому

      Wow! Very impressive 💪🏾

    • @mikem9870
      @mikem9870 5 років тому +2

      Me to 19,000 a year 457b

    • @utseay
      @utseay 5 років тому +1

      Dang...you're landing body blows to the face of retirement. Strong work.

    • @ygbodybuilder3023
      @ygbodybuilder3023 5 років тому +1

      1500 a month? do u any other bills

    • @TommyNguyen1010
      @TommyNguyen1010 5 років тому

      @@ygbodybuilder3023 Yeah I have a house too but I am fortunate that my wife and I are making decent amount and we live very minimal.

  • @brucesmith6868
    @brucesmith6868 5 років тому +1

    Thanks Dustin I love case studies and working thru the numbers, makes it more real.

  • @DonteeWeaver
    @DonteeWeaver 5 років тому +14

    I know I'm not the only one wishing that I started earlier🤔

    • @nebulanesian369
      @nebulanesian369 5 років тому +2

      Right there with you boss! At least we know now lol

    • @utseay
      @utseay 5 років тому +1

      Dontee Weaver I’m going to help my son open a Roth the day after he gets his first summer job.

  • @PawPaws_Place
    @PawPaws_Place 2 роки тому

    I started saving at 22 in a mediocre fashion. Around 32 I started saving and investing heavily. I am 50 now and retiring. The earlier the better.

  • @emilioboriqua1
    @emilioboriqua1 5 років тому

    So true. In my 40’s and I am one of those who will be starting late! Wish I had seen something like this all those years ago but at least I can educate my kids.
    I would love to see a video on military retirement and TSP without the BRS or with no match starting late.

  • @JewelzFin
    @JewelzFin 5 років тому +1

    I'm 32 and in the Army as a Specialist and have managed to invest $28000 this year. I also have a daughter and travel a lot when vacationing. It's about cutting out the bs in life that doesnt matter. Those small bad spending habits. I'll be retiring at 50 or sooner for sure.

    • @utseay
      @utseay 5 років тому +1

      Julian Overton Ballin’

  • @Gloroxsocks
    @Gloroxsocks 4 роки тому +3

    im 20, let me start this right NOW

  • @gebhardt2
    @gebhardt2 5 років тому +6

    As I got older, it's easier to save twice as much because...... I chose NOT to have kids. He's right. It's hard to save more as you get older unless you make major sacrifices.

  • @NewTehTrance
    @NewTehTrance 5 років тому +3

    If I'm 22 years old and investing on average 200 a month into my 401k and 164 a month into my Roth IRA, while making 12.25 an hour, am I doing good? I avg. about 35 or so hours a week since I'm not full time.

    • @utseay
      @utseay 5 років тому

      Manfred Von Karma Yeah, that’s really good IMO, especially at that income level. FIRE?

    • @NewTehTrance
      @NewTehTrance 5 років тому +1

      @@utseay I'm not necessarily trying to become FIRE, but I'm trying to save as much as I can in case SS gets cut/extra money/just makes me feel less anxious about retirement. I planned on putting even more in once I hit about 15K or so, cause right now I save around 600~ a month, but I want to account for health insurance + I also want to give more to Dad, so at most when I hit that magic 15K, I might just put 300 more a month in, and the other 300 goes to Dad and health insurance. Sorry for the long wall of text.

    • @brysonrhodes
      @brysonrhodes 3 роки тому

      How is your strategy going? I am interested as I am 22 currently and also saving about $200 a paycheck.

  • @Jp43620
    @Jp43620 4 роки тому +1

    Im 20 and wish i started sooner 😂😂

    • @mikaylamcgee9511
      @mikaylamcgee9511 3 роки тому

      I’m 23 and I wish I started when I got my first job at 16!

  • @Cingearth
    @Cingearth 5 років тому +2

    save 50 % of your income ! is this over the top ! on cnbc news today !

    • @utseay
      @utseay 5 років тому

      They suggested that? How much % are you saving?

  • @hiddenunknown3799
    @hiddenunknown3799 4 роки тому

    How does he calculate the yearly #?

  • @skilledbadhabit1950
    @skilledbadhabit1950 5 років тому

    Looking at this market and system failure coming,is this really a good time to be in stocks is the question? Once they stop force feeding the system money, its over!

    • @utseay
      @utseay 5 років тому +2

      Can't wait...blue light special for stocks. Love me some discounts.

    • @JewelzFin
      @JewelzFin 5 років тому +2

      Would you rather spend more or less on something? The market always recovers.

    • @skilledbadhabit1950
      @skilledbadhabit1950 5 років тому

      @@JewelzFin oh im all cash till next year if it takes that long. Ive gained 15% and pulled out at the top. Im a buy the dip kinda guy. Buy low ,sell the high!!

    • @JewelzFin
      @JewelzFin 5 років тому

      @@skilledbadhabit1950 why sell at all? Just ride the waves and establish a high dividend yield portfolio and reinvest all gains

  • @johnwilson8482
    @johnwilson8482 5 років тому

    If you're young, JUST START saving/investing. Even if $30/week is too much, try investing $20 or $10. Increase it when you can. Don't touch that money for anything. You'll thank us later.