Financial Advice For My 18-Year-Old Self
12.9 هزار بار بازدید -
4 سال پیش
-
In this video, I discuss
In this video, I discuss everything that I wish I had known about investing and growing wealth when I was 18. The best way to get rich is to spend a lot less money than you make, and then invest the difference. The earlier you start investing, the longer you have to benefit from the power of compounding.
I begin by discussing college, and how I believe that it is no longer the best path for everyone, especially if you need to load yourself up with student debt to make it happen. For many people, it will make a lot more sense to jump into the job market immediately after high school. Many companies (Google, Tesla) no longer require their employees to have a college degree, and I think that this trend will continue.
If you do end up going to college, don't waste your time and money in a humanities department. Focus on STEM majors. Of course, if you are talented in the STEM area, you could also go straight into a job in that area, and bypass college.
In your early years, it's important to save as much money as possible, so it's important to minimize your housing costs, food costs, and discretionary spending. The more aggressively you save money, the earlier you can stop being a "wage slave" who sells his time for money. The key is to reach a point where you are making more money from your investments than you make at your job.
There are two main routes to this:
1) Collect cash-generating assets and use the cash thrown off by them to buy more cash-generating assets. You should try to both buy cash-generating assets (dividend stocks, investment properties, high yield savings accounts, etc), as well as building cash-generating assets (Kindle books, YouTube channel, software, apps etc)
2) Use your savings to invest in growth stocks, Bitcoin, physical gold (none of which pay interest or dividends), or other things that could go up a lot.
I believe that $100 invested in Bitcoin today will be worth $10,000 or more by 2028:
Bitcoin For Beginners (2020)
I conclude by emphasizing how important it is these days to develop an in-depth knowledge of how the stock market, and other financial markets work. Having this knowledge will put you ahead of 95% of other people and help you to grow your wealth more rapidly, by learning to take advantage of market trends and financial crises.
Not investment advice! Consult a financial adviser.
Check out all of my books here:
https://www.amazon.com/-/e/B00YCNAKT2
My YouTube Channel:
traderuniversity
Matthew Kratter is the author of the Amazon best-seller "A Beginner's Guide to the Stock Market":
https://www.amazon.com/Beginners-Guid...
If you like my teaching style and would like to learn more about investing and trading stocks, options, and futures, be sure to check out my online courses here:
https://www.trader.university/join
Use this secret coupon code to get a discount: YT99
#FinancialFreedom
#FinancialEducation
Disclaimer
Neither Trader University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisers, registered investment advisers, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video or at www.Trader.University (henceforth, “the Site”) should be construed as such by you. This video and the Site should be used as educational tools only and are not replacements for professional investment advice. There is a high risk in trading.
I begin by discussing college, and how I believe that it is no longer the best path for everyone, especially if you need to load yourself up with student debt to make it happen. For many people, it will make a lot more sense to jump into the job market immediately after high school. Many companies (Google, Tesla) no longer require their employees to have a college degree, and I think that this trend will continue.
If you do end up going to college, don't waste your time and money in a humanities department. Focus on STEM majors. Of course, if you are talented in the STEM area, you could also go straight into a job in that area, and bypass college.
In your early years, it's important to save as much money as possible, so it's important to minimize your housing costs, food costs, and discretionary spending. The more aggressively you save money, the earlier you can stop being a "wage slave" who sells his time for money. The key is to reach a point where you are making more money from your investments than you make at your job.
There are two main routes to this:
1) Collect cash-generating assets and use the cash thrown off by them to buy more cash-generating assets. You should try to both buy cash-generating assets (dividend stocks, investment properties, high yield savings accounts, etc), as well as building cash-generating assets (Kindle books, YouTube channel, software, apps etc)
2) Use your savings to invest in growth stocks, Bitcoin, physical gold (none of which pay interest or dividends), or other things that could go up a lot.
I believe that $100 invested in Bitcoin today will be worth $10,000 or more by 2028:
Bitcoin For Beginners (2020)
I conclude by emphasizing how important it is these days to develop an in-depth knowledge of how the stock market, and other financial markets work. Having this knowledge will put you ahead of 95% of other people and help you to grow your wealth more rapidly, by learning to take advantage of market trends and financial crises.
Not investment advice! Consult a financial adviser.
Check out all of my books here:
https://www.amazon.com/-/e/B00YCNAKT2
My YouTube Channel:
traderuniversity
Matthew Kratter is the author of the Amazon best-seller "A Beginner's Guide to the Stock Market":
https://www.amazon.com/Beginners-Guid...
If you like my teaching style and would like to learn more about investing and trading stocks, options, and futures, be sure to check out my online courses here:
https://www.trader.university/join
Use this secret coupon code to get a discount: YT99
#FinancialFreedom
#FinancialEducation
Disclaimer
Neither Trader University, nor any of its directors, officers, shareholders, personnel, representatives, agents, or independent contractors (collectively, the “Operator Parties”) are licensed financial advisers, registered investment advisers, or registered broker-dealers. None of the Operator Parties are providing investment, financial, legal, or tax advice, and nothing in this video or at www.Trader.University (henceforth, “the Site”) should be construed as such by you. This video and the Site should be used as educational tools only and are not replacements for professional investment advice. There is a high risk in trading.
4 سال پیش
در تاریخ 1399/02/12 منتشر شده
است.
12,954
بـار بازدید شده