Create a free Budget – Sign up for EveryDollar today! https://ter.li/1ri6n3 About this episode: Next Steps: Order George Kamel's …
source
Create a free Budget – Sign up for EveryDollar today! https://ter.li/1ri6n3 About this episode: Next Steps: Order George Kamel's …
source
Input your search keywords and press Enter.
32 comments
It's not just investing you got to know where to invest
Now imagine the compounding if you utilised debt effectively
This assumes an average of 13.7% annual rate of return.
This assumes an average of 13.7% annual rate of return.
This is where I question the baby steps. Like you mentioned, investing early allows you to earn way more, even when the amount you invest is less. If this is true, why should you wait until all your debt is paid off (baby steps 2) in order to start investing (baby steps 4)? Why not invest a little bit of your savings while you're in debt, so you can take advantage of compound interest?
Jesus is coming soon. Invest in your spiritual growth.
Ok but 2400$ at 20 worth much more than at 67
This really drives home the old adage: “Time in the market beats timing the market.”
Imagine starting to invest at 18 and diligently contributing $5,000 a year for just 10 years — that’s only about $416 a month, a manageable amount for most young adults. By age 28, you could stop contributing entirely, focus on other parts of your life — buying a home, starting a family, pursuing experiences — and by the time you retire, that account could still grow to $3.8 million. Just 10 years of smart, early investing, and the rest is the magic of compound interest working in your favor.
Insane return. I think it should be half of that. But if you start later just invest more and you should be good.
This is why my big brother has about 10 times my wealth, and I have 22 national gold medals in skydiving. I’m not mad at that :).
I’m Blake, I started at 30, better late than never
Roth IRA you can put in 7500 a year starting 1/1/2026. If you have extra open a brokerage account and invest there
Time in the market is better than timing the market
That's why it's fun to pay into ETFs for your kids
Now let's adjust for inflation. Now we adjust for inflation and we are left around with 250k usd.
I was going to say the same thing. I wish I knew this when I was 21 years old! Back when I was in High School, they didn't teach anything like this, not even how to balance your checkbook. Maybe I will tell my son how money grows so he can invest for his children at a young age or even 21 for 9 years.
This leaves out the fact that after inflation the stock market gives a measely 1-2% return per year. A million dollars is not gonna buy much in 40 years.
For people outside the U.S, can they also invest in ROT, IRA, S&P500 and other things your recommend ?
So how much does Blake need to Invest per month to catch up
Assumed Jack NEVER touches his investment…
I should have investing as soon as i popped into the world
Really good example if the number were actually correct.
So I’m fucked lol
I wish I would have had any money at 21.
Fun fact! If inflation over the next 50 years is equivalent to the inflation of the last 50, Jake's 2.5 million would be equivalent to 250,000 today!
And what is the best option to put that money in?
A IRA, Roth IRA, 401k, Roth 401k or an Individual cash account.?
Imagine being 21 and investing 2100 per month 😂😂😂
lol tbh i used to think i’d never get there, felt way behind. what actually helped me start small but steady was budgetgpt, i just text in what i save and invest and it kinda shows me the impact over time without stressing over charts or spreadsheets.
this can be misleading. no matter when you get in. get in. half a million is a great pay day. he also needed to increase is monthly investment and he would've blew the other guy out of the water lol
bold of you to think that 21 year olds have $2400 to invest
Buddy I make less than jack saves per month
What do you invest in? Just s&p 500 or qqq ?