The exact math on why to start investing early.

The exact math on why to start investing early. | FinTips

Рет қаралды 5,224

4 жыл бұрын

Today we're talking about why it's so important to start saving for retirement early. We'll show the exact math for one who starts early and one who waits 10 years to start investing for retirement. We all wish we could have started earlier and today we'll show you just how important it really is. Feel free to share with younger investors you may know.
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Пікірлер: 43

@DonteeWeaver 4 жыл бұрын

I know I'm not the only one wishing that I started earlier🤔

@nebulanesian369 4 жыл бұрын

Right there with you boss! At least we know now lol

@utseay 4 жыл бұрын

Dontee Weaver I’m going to help my son open a Roth the day after he gets his first summer job.

@utseay 4 жыл бұрын

They should teach this in middle and high schools. I was 24 before it was even mentioned to me by my new employer. I contributed the match to our 401k. Had I had some knowledge I’d went way higher.

@06Awake 4 жыл бұрын

When I was 19 I couldn't save $50/mo. To save my life. I'm proud of where I am now.

@utseay 4 жыл бұрын

Daniel Sanchez you up to $55 /mo now?

@06Awake 4 жыл бұрын

@@utseay something like that $350-400 depending on how many times we go out for sushi that month.

@utseay 4 жыл бұрын

@@06Awake Awesome!

@Gloroxsocks 3 жыл бұрын

im 20, let me start this right NOW

@linkbelt111 4 жыл бұрын

I had to start over at 45, glad I worked hard the first 5 years, life’s been good to me. So has American, Fidelity, and Chucky....

@utseay 4 жыл бұрын

Chucky? Jon Gruden?

@linkbelt111 4 жыл бұрын

utseay LOLOL.....Schwab

@brucesmith6868 4 жыл бұрын

Thanks Dustin I love case studies and working thru the numbers, makes it more real.

@PawPaws_Place 2 жыл бұрын

I started saving at 22 in a mediocre fashion. Around 32 I started saving and investing heavily. I am 50 now and retiring. The earlier the better.

@emilioboriqua1 4 жыл бұрын

So true. In my 40’s and I am one of those who will be starting late! Wish I had seen something like this all those years ago but at least I can educate my kids. I would love to see a video on military retirement and TSP without the BRS or with no match starting late.

@gebhardt2 4 жыл бұрын

As I got older, it's easier to save twice as much because...... I chose NOT to have kids. He's right. It's hard to save more as you get older unless you make major sacrifices.

@TommyNguyen1010 4 жыл бұрын

I guess I am way ahead of this game as I am 29 and been contributing 1500 a month toward my 457 account. Also maxed out my Roth IRA as well. This channel is great to keep me motivate with my money and how to save.

@nebulanesian369 4 жыл бұрын

Wow! Very impressive 💪🏾

@mikem9870 4 жыл бұрын

Me to 19,000 a year 457b

@utseay 4 жыл бұрын

Dang...you're landing body blows to the face of retirement. Strong work.

@ygbodybuilder3023 4 жыл бұрын

1500 a month? do u any other bills

@TommyNguyen1010 4 жыл бұрын

@@ygbodybuilder3023 Yeah I have a house too but I am fortunate that my wife and I are making decent amount and we live very minimal.

@JewelzFin 4 жыл бұрын

I'm 32 and in the Army as a Specialist and have managed to invest $28000 this year. I also have a daughter and travel a lot when vacationing. It's about cutting out the bs in life that doesnt matter. Those small bad spending habits. I'll be retiring at 50 or sooner for sure.

@utseay 4 жыл бұрын

Julian Overton Ballin’

@hiddenunknown3799 4 жыл бұрын

How does he calculate the yearly #?

@NewTehTrance 4 жыл бұрын

If I'm 22 years old and investing on average 200 a month into my 401k and 164 a month into my Roth IRA, while making 12.25 an hour, am I doing good? I avg. about 35 or so hours a week since I'm not full time.

@utseay 4 жыл бұрын

Manfred Von Karma Yeah, that’s really good IMO, especially at that income level. FIRE?

@NewTehTrance 4 жыл бұрын

@@utseay I'm not necessarily trying to become FIRE, but I'm trying to save as much as I can in case SS gets cut/extra money/just makes me feel less anxious about retirement. I planned on putting even more in once I hit about 15K or so, cause right now I save around 600~ a month, but I want to account for health insurance + I also want to give more to Dad, so at most when I hit that magic 15K, I might just put 300 more a month in, and the other 300 goes to Dad and health insurance. Sorry for the long wall of text.

@brysonrhodes 3 жыл бұрын

How is your strategy going? I am interested as I am 22 currently and also saving about $200 a paycheck.

@Cingearth 4 жыл бұрын

save 50 % of your income ! is this over the top ! on cnbc news today !

@utseay 4 жыл бұрын

They suggested that? How much % are you saving?

@Jp43620 3 жыл бұрын

Im 20 and wish i started sooner 😂😂

@mikaylamcgee9511 3 жыл бұрын

I’m 23 and I wish I started when I got my first job at 16!

@skilledbadhabit1950 4 жыл бұрын

Looking at this market and system failure coming,is this really a good time to be in stocks is the question? Once they stop force feeding the system money, its over!

@utseay 4 жыл бұрын

Can't wait...blue light special for stocks. Love me some discounts.

@JewelzFin 4 жыл бұрын

Would you rather spend more or less on something? The market always recovers.

@skilledbadhabit1950 4 жыл бұрын

@@JewelzFin oh im all cash till next year if it takes that long. Ive gained 15% and pulled out at the top. Im a buy the dip kinda guy. Buy low ,sell the high!!

@JewelzFin 4 жыл бұрын

@@skilledbadhabit1950 why sell at all? Just ride the waves and establish a high dividend yield portfolio and reinvest all gains

@johnwilson8482 4 жыл бұрын

If you're young, JUST START saving/investing. Even if $30/week is too much, try investing $20 or $10. Increase it when you can. Don't touch that money for anything. You'll thank us later.