What I Would Do If I Was In My 20s!

Inspired from EYL Market Mondays if you are just graduating and 18 years old try to do the following:

Save & Invest 40% to 50% of your money mostly (Right now luckily with the market being down, this will allow you to basically leapfrog into gains)

Continue learning especially on history, emotional intelligence, technology, macroeconomics/financial markets, discipline, psychology, and mindset. But do not become absorbed in it and never let it consume you!

Learn skills that you can utilize that will help you accelerate in your career or entrepreneurship.

Focus on your physical health tremendously and remain active. I cannot stress this enough, but many young black people are dying to their health. Please take care of your health. Health is wealth. Reduce your drinking tremendously as it is now considered one of the worst things you can do to your body. In my opinion drinking is worse than smoking. Do not sit for too long I also consider sitting down for too long as bad if not worse than smoking. Crazy right? Not really.

Reduce your digital screen time. I love technology but it’s killing us literally. Learn how to be bored and do nothing. Go to the beach, camping, fishing, or anytung that brings you outside away from the city and technology. Yes leave your phone in the car.

Have fun with your friends but turn down many of the invites if they’re going to inconvenience you. Never be afraid or feel like you’re in the wrong for saying No!

Live your life find your truth!

Live below your means and stay home with your parents if that’s a feasible option. Focus on the intangible things in life such as life experiences with family and friends. Keep a rule to spend a percentage of your income on material things. I would say never spend more than 5% of your income on goods if you are paying rent. Otherwise never spend 10% of your income. Save up to $30,000 and buy a multi-family home using an FHA loan.

Find a mentor and if possible, find mentors for different disciplines.

Don’t seriously date until at least 25 years of age and refrain from having kids if possible.

Never allow yourself to feel comfortable!  Challenge yourself to do something completely out your comfort zone.  Growth is made in the uncomfortable. Make sure it’s hard.  Just don’t die!

Have hobbies that are just for you to enjoy not to monetize. There’s no need for you to be in grind mode 24/7. It is necessary to learn how to sit with yourself and do nothing or something that is just for you!

If you want to start a business, then do it! This is the time to take risks! However, make sure your business has a TAM (you should learn what this means first if you don’t already) and it has the capability to impact millions.

Learn about 1031 exchanges, solo401k, real estate professional status, tax advantages, trust, family planning, and self-directed IRA.




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