This piece is part of my 2016–2026 archive migration. Some original formatting, content, and external links may be missing, changed, or not be optimized.
And I shake my head in wonder at one of the biggest errors
2. Can’t Envision the Big Picture
3. Too Caught Up In The Moment
4. Overloaded with Student Loans
5. Lifestyle Creep
6. Lack of Financial Knowledge
7. Lack of Financial Mentors
8. Lack of Urgency
“I have plenty of time”
9. Too Focused on Luxuries
10. Lack of Exposure
If you started investing $100/month at 20 years old, with an average rate of return of 10%, you will have over $1 million dollars saved by the time you turn 65. Now imagine just what you could do if you started saving $100/month at 15 years old or $500-$1,000/month starting at the age of 20; you would end up a multimillionaire by saving a modest amount of income each month.
As a 20 something, it’s easy to lack exposure to ideas like this; becoming a millionaire, investing, and personal finance aren’t the hottest topics for the 20 something; there are more important things on the mind of a 20 year that don’t necessarily contribute positively to their financial future – aside from getting a solid career started. But even then, guaranteed job security isn’t the same as winning the lottery. Job security doesn’t exist, and a stable career can most certainly help you establish a strong financial foundation, but it’s not your ticket to financial freedom: investing is.
If you’re not investing, you’re losing.
This content is for informational purposes only — not professional advice. Consult a qualified professional before making any major decisions.