E88 – Saving and Investing: You Need to Start Yesterday

[3:3] Not knowing how to save and the importance of starting young
If you are saving smaller amounts it will add up faster than someone earning more
Consistency is key to getting rich
It’s all about getting in the correct mindset

[5:10] Do you have an emergency fund
Americans and millennials as a whole live paycheck to paycheck
Most people don’t have $1,000 saved up for an emergency
Pay yourself first!

[7:23] Managing a 401(k)
Extremely important- everyone should take advantage
At the least you need to match with your employer

[8:44] What do do when you max your 401k
Your 401k is technically invested in the stock market already
Use IRAs – Traditional and Roth IRA
Real Estate
Crypto – but be careful and only invest a modest amount

[10:32] Micro-investing
Tons of apps available today to help you start investing, such as Stash Invest, Acorns, Digit etc.
Automated savings that you don’t realize
Great way to invest “spare change”