Welcome, Guest: Join Nairaland / LOGIN! / Trending / Recent / New
Stats: 2,890,106 members, 6,950,014 topics. Date: Wednesday, 06 July 2022 at 02:33 PM

How Should A Younger People In Their Early 20’s Invest Their Money - Investment - Nairaland

Nairaland Forum / Nairaland / General / Investment / How Should A Younger People In Their Early 20’s Invest Their Money (340 Views)

Buying Shit Coins At Their Early Stage Is The New Money Machine / "Option C" Investors Storm Oko Oloyun’s Office To Demand Their Money / Crowd Storm Loom Headquarters In Lagos To Demand For Their Money (2) (3) (4)

(1) (Reply)

How Should A Younger People In Their Early 20’s Invest Their Money by eventmedia: 6:15am On Jun 06, 2020
This is the best time to be investing, as you have more time on your hands, as a financial manager for people wealth have come down to factor why people don’t make the most of their wealth.

1. People don’t start saving early enough.

2. They don’t invest right.

These are the top two reasons.

I will illustrate from my own research findings and how to combat these issues.

Don’t start saving young
I did some research for a personal at age 20.

How much they would need to retire with the average cost of living (U.S) in line with the present level of inflation.

At, 20 now if you factor in inflation at 2% (CPI target level) this would equate to $5,704.61 (the present average living is $ 2,500 a month for a single person in the U.S). This would give 47 years to save this monthly amount for retirement.

With simple interest, saying you put in an annuity when you hit 67 to keep in line with inflation.

You will need to fund this lifestyle for 18 years (based on the average life expectancy), this would equate to $1,348,858.

This is actually exaggerated by the amount, research says you would need $1.7 million to retire so this would equate to $253,324.54 at 20 with inflation.

From personal experience, I see that no one in their 20s saves any more.

When I compare this to the baby boomers that statistically, save on average $153,000 while gen X by the same time frame save $22,485.

People, in their 20s seem more inclined by buying new clothes to impress their friends.

See what it look like on the link below

(1) (Reply)

A Plot Of Land In Osogbo Is Available For Sale / Earn $10 Per Day WATCHING YOUTUBE VIDEOS | Make Money Online / Make 50% Roi In 3 Days

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2022 Oluwaseun Osewa. All rights reserved. See How To Advertise. 42
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.