How To Build Wealth With a Low Paying Job In Your 20s!

How To Build Wealth With a Low Paying Job In Your 20s!
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[@georgec2894]

I have to thank my late Grandfather for teaching me this as a teenager. I worked hard to gain a position as an engineer in an oil company. Have saved 85% in my full time job from starting age 22, to the present day at 27.5 where I’m in a very blessed position

[@TheGoldenAgeofHardRock]

If I think I'm Rockin' retirement now, oh my, if I could go back to 20 but keep the knowledge in my 56 year old brain, I have no doubt that I would be close to 15 million. But there is no time machine, all I can do, is impart this knowledge to my daughters. You don't have to be a high earner, a teacher or like-employed public servant can do this.

[@MoneyGuyShow]

TDP, Thank you for sharing and we all could do it better if we had our current wisdom back in our 20s. Hopefully our content and comments like yours are helping to inspire the 20 year olds of today 👍

[@TheGoldenAgeofHardRock]

@@MoneyGuyShow One thing is for sure, the content is easily available to them. When we were 20 year olds, there was no podcast, KZbin or Internet...we did have the original Van Halen though...in their prime!

[@HailAres]

I'm 18, what advice do you have for me?

[@ao59324]

I’m 23 and I’m so glad I found this channel. All I see on social media is the extremes like Ramsey. It’s nice to find a channel that is in the middle ground.

[@crizzloves2460]

I have 19 years old and thank goodness I ran to this! Bro, I wasted big on a car because the car I had was terrible, but for now on, I'm going to invest my money and save!

[@wmj246]

I received great value from this video. I'm 24 now. I'm saving a bit more than I thought based on the formula that you stated in your video. Thank you.

[@mahadhirisaable]

Wish was in my 20s knowing what I know Now. Well Better late Than Never..

[@MoneyGuyShow]

Thanks for watching and sharing a comment 👍

[@RandomAnonn]

Could you give me sime tips? I'm 22

[@maamedansowaa1520]

@@RandomAnonn 1. Always take advantage of your employers match and increase your contribution percentage every time you get a raise until you hit the IRS retirement limit. 2. Learn to live below your means. 3. Don't engage in lifestyle inflammation (increasing your spending as your income goes up). 4. Pay your credit card bill off at the end of very month. 5. Create an emergency fund.

[@Bigskeeterrr]

I’m 19 now. It seems painfully obvious how to create real wealth. It’s just whether I will have the discipline and foresight to do so.

[@SrirachiKat]

I’m in my mid twenties and discovered your channel through Caleb Hammer! Going to open a retirement account this month so I can start saving.

[@punkkimiko]

I started investing at 26

[@nehemaialord2653]

I’m 26 haha. Good to start early

[@willvice3998]

Same here!

[@user-ee5om8wy7u]

I started at 36:(( .....didn't know and didn't hear anything about it before....I'm still glad I started though.

[@commanderrandy3259]

21 y/o I have my own business covering my bills. So with my job I’m literally saving/investing 100% of my paycheck:)

[@BitMicrobe]

What business do you have and how did you start it? Fellow 21 year old trying to find direction in life lol

[@commanderrandy3259]

@@BitMicrobe I own a vending business. Now starting a real estate company where I hold my rentals.

[@commanderrandy3259]

@@BitMicrobe I own a vending business. Now starting a real estate company where I hold my rentals.

[@akin242002]

Fidelity's FZROX or Charles Schwab's SWTSX. Fidelity has a penny minimum, and Schwab has a $1 minimum.

[@syd3724]

I’m 26 and just started. I feel like I’m late to the party!

[@michiganabigail]

You know, I really want to earn more. I think that I deserve more, and I would be so smart with my money! But this waiting is just making wealth that much more valuable. I’m just learning how much I hate not having money now so that I can learn to keep my real money more!

[@36hairball]

Hey guys, new fan of the show. I'm a 23 year old college grad, and just landed my first job. When you say I need to "save 20-25%" (if I'm trying to be aggressive), would that mean INVEST 20-25 percent in an IRA/401k, or does that percentage encompass investment AND putting that money in a savings account? Example: 15% invest, 10% rainy day fund. Keep the good info coming!

[@Santi-bn9oc]

did you ever figure it out?

[@michiganabigail]

I think the 20-25% encompasses both investments and rainy day fund. But honestly, I think a better strategy would be to save 25% to rainy day fund until you have like 3 or 4 months of expenses, then start investing more. Then you’ll be more prepared if something terrible happens.

[@startroopian]

Started at 25 wish I would have invested more...

[@Hernsama]

Don’t know where they get their statistics(rhetorical) but I find it hard to believe people in their 20s make 45k. So many people in their 30 are making 25k to 35k. Maybe they included people with real degrees only or some variable is missing here. If you look at how many people don’t finish college and have thousands in student loans and make less than 35k it is an insane number.

[@666yaoz]

Median US annual income at 25 years old is $31k, so their stats are off. However, if you only have STEM, then this figure would be around $50k.

[@TheGoldenAgeofHardRock]

Law enforcement and firefighter/EMT jobs, no degree needed. Must be 21, no criminal record, no drug use. Starting salary is 45k - 66k. The entry of 45k is if you have no expererience, no military and no college. up to 66k if you have college and prior experience. On top of the 45k and unlimited overtime, work 25 years and you will earn a pension that will pay you half of what your final salary is, after 25 years, typically 90k to 130k.

[@Drewboooo]

@@TheGoldenAgeofHardRock yup FF here and clearing 88k this year 26yo

[@TheGoldenAgeofHardRock]

@@Drewboooo Awesome! Thanks for your service!

[@robertsmith3385]

I’m 21 years old saving about 900 dollars a month across my 401k Roth IRA and high interest saving account while living on my own it’s not hard to save 25 percent of income

[@mtempz3165]

Does my 401k from employment count towards my savings rate? I put 5% which my employer matches

[@BrandonP43]

So glad I started a 401k on my 21st birthday.

[@Skubae]

Love your videos. What would you recommend me, I can save around 1.5k a month into my brokerage account & im 25; first year of saving for me. Please give me advice

[@MsJacquese99]

My car payments are $209 each month. Guess I followed the advice before I even knew it was here 😊

[@jamestrebilcock8310]

Side hustle that's very flexible is donating plasma. A company that I use is griffols. $150 a week. For donating twice a week.

[@Plumbing.repairs]

Watching this while in my 30's to see where I screwed up

[@nehemaialord2653]

The best thing to invest in is yourself. The returns are way more lol

[@emyd9655]

I thought this was about building wealth

[@onedirectionlover317]

* cries in grad student w/ no employer match *

[@ptltproducingtomorrowleade7339]

PTLT PRODUCING TOMORROW LEADERS TODAY EMERGENCY JOB PACKET PLAN

[@webuser5950]

Go Dawgs

[@jacksongordan3176]

I am 23 I wasted 7 years the next I am destined for wealthiness

[@MCPlatinum-MCP829]

I started at 21 I feel behind bc he always talks about "age 20"

[@OnDaLowWidIt]

I’m confused 95*12=$1140 1140 dollars a year saved x 45 years from 20-65 = $51,300 Where’s the million dollars coming from when saving 95 dollars a month?

[@victorbaird8220]

Interest from the principle amount 😊

[@ptltproducingtomorrowleade7339]

PTLT PRODUCING TOMORROW LEADERS TODAY MILLIONAIRE VS BILLIONAIRE

[@Phant0mGetsuga993]

You don’t