How To Invest Your Money In Your 20s
How are you supposed to invest your money when you’re young? you’re in your 20s? Well, here, Limitless TV, Kris Krohn. I’m going to share with you exactly how you can take a little bit of money in your 20’s and turn it into a handsome retirement. Can you invest when you’re in your 20’s? can you invest when you’re young? you know there’s a lot of people that really don’t think that you can because you’re either in college or you haven’t been working long enough with the job and when you think of investment, you typically think in terms of lots of money. Maybe tens of thousands of dollars and you know I just haven’t been around long enough on the planet to accumulate that kind of dough that I could put into something. But the truth is, some of your most lucrative investing begins in your 20s and surprisingly it takes the least amount of money. The reason why I was able to retire at the age of 26 was because of a choice that I made when I was 22 years old. I’d already been married, I just finished working my first full-time year at my first full-time job, and you know what? my wife and I were working super super hard to be responsible with money to try to stay out of debt as much as possible, but my very first mentor had given me advice he said, “Kris, when you buy your first house, if you buy it with 30, 40, 50 thousand dollars of equity, you can do that as a first-time homebuyer for as little as three thousand four thousand, five thousand dollars. And that got me really excited because I thought, “whoa, whoa, whoa. You want me to trade three thousand dollars for thirty thousand dollars?” that’s a tenfold trip wouldn’t you agree that sounds like a good investment? Well that’s the investment that got me started in my life. So I spent a year working at it. My wife and I, you know, we did this thing called KPPPM. Cleanse parents penny-pinching month. And admit that we were going to be hyper frugal like she had learned from her parents and we were going to spend as little as possible on dates and we are going to save as much. And after a year, we saved $5,000. And this was enough for us to buy a home that had $40,000 of equity. We got it it was worth roughly 150,000. We got it for $110,000 and the day that I went to that closing table to sign, I was so skeptical and nervous trying to act as much like an adult. I spent hours poring over the documents, now it’s minutes. When I finally sign on that dotted line, I felt so happy. You know why? because I had just traded a very small amount of money for $40,000 of equity. Now the skeptics out there will say, “Well Kris that was just on paper. What did that even mean?” It meant that a year later I could access some of that money and buy another house with 50 plus thousand dollars of equity. Now all the sudden between my two houses I was worth over $100,000 all based on a $5,000 investment. Now you do the math. Would you trade $5,000 for $100,000? that’s a 2,000 percent return. And so can you invest when you’re in your 20s? Absolutely. You do that. One of the best ways of doing is through real estate. Because if I take five grand and I put in the stock market I own $5,000 worth of stocks. If I take $5,000 and I put it in a home, then I might have 40,000 dollars in my bank account and you better bet that I’m going to be leveraging at two homes, turned into three homes, turn in five homes, and ultimately that’s what led to my retirement. So, there are absolutely investments that you can make in your 20s and now I’m going to get more specific. So how you do this is super simple. I’ve created a number of videos that talk about, how you buy a home with equity. How you find the right kind of realtor. You’re welcome to ask questions, even work with my power team to help make this happen for you. And saving up that little bit of money, this was the advice I got from my mentor. He said, “honestly to do three things” he said, “stick with your job and if you change it, stay in the same industry because banks want a two year history” he said, “number two, save up enough money for a three percent down payment”. Which for me was around five thousand dollars or less. Number three he says, “develop your credit”. Add very undeveloped credit, some bad credit, and I had savings time on working on my money to go ahead and put that in place. And all of that led to being ready to buy that house. Now because I bought that house with equity like you can learn in my other videos, I was able to leverage it to buy my second home and that led to my third home and those first investments of getting my net worth over a quarter million dollars in fact just a year out of college increasing my net worth to over a million dollars and being able to quit and leave my job, that was some of the best investing I’d ever done because it led to the freedom that I wanted in my life and that is something that you can do to. Does this get your blood boiling? This got my blood boiling and I’m 37 and it’s been now 15 years and I got to tell you, it has changed everything in my life to have access to this information. So knowledge is not power my friends, my young friends. Unless you utilize it and I’m inviting you to do just that. Make sure you’re subscribed so I can get you more training, more information, and look forward to getting you more of that, soon.