Biggest Money Mistakes to Avoid in Your 20s

Here are the biggest money mistakes you need to avoid at all costs in your 20s!
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[@TheBreeGFX]

I love the videos guys. I’m 22 years old right now and this information is so valuable. God bless!

[@geckosalaplancha8286]

King George I'm 25 Nd from the future. here to tell u to start saving now!!! 10$ a day makes u a millionaire someday

[@MoneyGuyShow]

Thanks for watching!

[@brent1041]

Do whatever it takes to max out your Roth!

[@MoneyGuyShow]

So true Brent!

[@Irishcalica]

28 year old , debt free, and 50k net worth Cheers to the money guy. Keep it up guys

[@JSn00py]

According to their calculations, you're behind on life. giddy up boi!

[@madeline5175]

I graduated high school in 2009 and left the house ASAP. I've never turned back and have always supported myself. I'm somewhat envious of my peers who have been able to pay off their loans while living at home post-college. Anyway, having the swift kick in the butt has motivated me to be responsible for my financial future.

[@MoneyGuyShow]

Keep up the good work M M!

[@Cormin]

This is a good video even today. Lots of money guy Lore. Plus the first reference to the peacock here that I've seen. Only saw one peacock reference in the most recent couple years of videos

[@yomokha7676]

Totally agree! Watching in April 24, and most of this stuff isn't really covered as much in their newer material. I think they've maybe cut down on some of the stuff over the years to reduce production costs. But a lot of the stuff in this vid isn't covered at all in their newer things!!

[@tylerk7577]

that "I am two steps from yelling at kids from my front porch" line cracked me up haha

[@neural1023]

im 24 no career yet live with parents but trying to get into tech without school

[@MoneyGuyShow]

You can do it Neural! Continue to watch our videos so we can help you make the best financial decisions. Thanks for watching!

[@pawsnotclaws2772]

Im 28 and this is comforting 😅 I just started being good with my money

[@k1nG0fDaT0mb]

I've started a roth IRA through M1 and will be putting 500 a month since that's the most u can do, but how/where do I invest the other 200 per month? I know a taxable account but I don't understand the ins and outs of making it tax deferred when I'm using my after tax dollars to fund this account. I should mention my work does not offer an employee- sponsored 401k

[@MoneyGuyShow]

If it is invested in an after-tax account it will not be tax-deferred. However, it can be tax efficient by investing in low cost index funds.

[@jimmyhuynh5729]

Question...You guys always talk about having the army of dollar bills work for you at an early age. This is something I am currently doing but I also want to save and buy a house. What do you recommend someone in their late 20's to do? Build the large portfolio first? Save to buy a house and pay it off asap? Or do both at the same time? Thanks a lot really appreciate the videos!

[@MoneyGuyShow]

Both at the same time Jimmy. If you can invest 15% and save up for a 20% down payment at the same time that would be preferable. You’re still young, so slowing down your investing for a short term to buy a house shouldn’t be a problem.

[@jimmyhuynh5729]

Great, this is what I was looking for. Thank you for the response, you have made my future brighter!

[@osa799]

Things were going so well until I heard you were a UGA grad... Kidding! First time on the channel, great content. Go Gators

[@MoneyGuyShow]

Thanks Alex, glad you enjoyed the content! We can still be friends.

[@marieb.931]

Hi! Great content. I'm loving this channel. I would love to ask your opinion on something. How do you view paying off a mortgage early? We are in our late 20s. We are investing 15% of our income, but the rest is going to the mortgage. I'm worried we may be making the wrong choice. When you said a 25 year olds $1 was worth $50 something at 65 it got me curious how you view this topic. Thanks!!

[@MoneyGuyShow]

Marie, the goal is to have your house paid off before you retire and you are both still very young. That being said, You can continue to pay down your mortgage as long as you and your husband continue to invest at least 15% of your income for retirenment. After you pay off your house, then you can throw your old mortgage payment at investments. If you were closer to retirement age, this conversation would be different. Keep up the great work!

[@Caomusca]

I disagree. If I could still live with my mom I would. You get free rent and company. I had to move for a job... But seriously I would take the 33% increase in my savings rate over living alone

[@vaughnwaldo]

Woo-Hoo! 20’s! 🤓

[@hurtem44]

keep re-posting the same videos over and over...

[@MoneyGuyShow]

We always break out our 1 hour shows into highlights. Most people prefer the shorter content. Thanks for watching and noticing!