The secret to success is to start young. As early as now, while you are just starting to earn your first salaries from your corporate job, I recommend you to save more and spend less so you can accumulate enough fund for investments. By the time you reach your late 20s, you will have a couple of investments that can be sustainable until your age of retirement. That is if you use your savings wisely. A lot of young professionals nowadays are getting caught up with huge unnecessary expenses. Do not try to join the community of big spenders. You only live once so use your money and time wisely!
Catch me in my live training events! (quick plug)
The heart of why I do these seminars is I want to build a generation of Filipinos with the right foundation in stock investing. I want to bring smart investing to every Filipino around the world! If you would like to know more about how you could time the market check out the trainings below.
Stock Smarts Manila – September 14, 15, 21, 22,&28, 2019
Stock Smarts Qatar — October 3 – 6, 2019
Stock Smarts Cebu – October 26-27,2019
Stock Smarts Taiwan – November 2, 2019
ICON Davao – November 30, 2019
By definition of early, since we are talking about a decade before you reach 30, this starts after you graduated or when you start your first job. More or less, you are at your early 20s this time. Buy your first investments during your early 20s. This is what other young investors do when they start earning. I had an interview with a young OFW in Dubai, she had her first condo unit at the age of 22 and now, that property is getting her passive income while she is abroad. You can watch my video below for the details. Your first asset doesn’t have to be a property, it can be stocks, mutual funds, bonds, or commodities.
You must not stop once you buy your first investment. You must aim to increase your assets gradually and regularly if you want to retire young. For young professionals, especially those who are only supporting themselves, it’s easier to save money and invest. The challenges are big if you are the breadwinner in the family or if your lifestyle is expensive. That’s why you need to do serious adjustments as soon as you can so you won’t have an extra struggle when you cannot give up that expensive lifestyle anymore. Adjust and invest regularly!
Most of the OFWs I interviewed with are still working even if they already have their businesses and investments. That’s actually a wise move to maximize the use of time and at the same time, still earn from a job. Since you are still at your 20s, anything is still possible. If you want to get rich young, do the things you can do to earn and save more money. Utilize the time you have to build your empire as early as now because if you won’t do it now, when?