The 5 Financial Goals To Achieve In Your 20s

Here are the 5 financial milestones that everyone should aim to achieve in their 20’s - Enjoy! Add me on Instagram: GPStephan

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First, and the most reasonable goal that I think everyone should aim to hit in your 20s…is to get your credit score above 750:
For anyone who’s not aware…your credit score is just a calculation that shows how responsible you are in paying back money that you owe. That might include credit cards, auto loans, student loans, a mortgage payment…or, anything else where you aren’t paying for something with your own money, upfront. And this term known as a “Credit Score” is basically a grade that lenders use when determining how much of a loan you’ll get, and what interest rate you’ll pay.

Second, speaking of paying off debt…it would make me happy if, by the time you’re 30…you’ve gotten yourself, what I like to call…”BAD-DEBT FREE.” It’s like saying “Debt Free”…except it’s BAD DEBT FREE.
So, really - from the way I see it - it’s not necessary to want to call yourself entirely DEBT FREE by the age of 30….because, some types of debt can actually be really useful in terms of making more money and being financially responsible.

Third, by the age of 30, you should have at LEAST 1.5 years of your expenses invested.
That means, if you’re spending $3000 per month on rent, utilities, car payment, food, and smashing the like button…you should have, at MINIMUM, $54,000 invested in the markets. Or, if your spending $2000 a month…that equals $36,000 invested.

Fourth, I highly recommend that - by the age of 30 - you create a SECOND source of income in addition to your main job.
This is something I’m surprised isn’t mentioned more…because, as you get older and advance further in your career…it’s so important to use that as LEVERAGE to make even more money, and diversify your income into other areas. After all, when surveyed, it was found that nearly 2 out of 3 millionaires had at least ONE extra source of income - with the most common being real estate investing:

Fifth, by the age of 30…I’d recommend that you aim to save at LEAST 25% of your income each year, and invest that amount towards your retirement.
For most people to save and invest 25% of their income, it takes skill. You need to be dedicated to tracking your expenses, you need to be disciplined when it comes to your spending, you need to live below your means, and you need to place an importance on the future…and investing 25% of your income just comes as a byproduct of doing all of those things, consistently. Not only that, but it also motivates you to increase your income, just so that you’re able to maximize the value of your own time - and then pocket the difference.

*Some of the links and other products that appear on this video are from companies which Graham Stephan will earn an affiliate commission or referral bonus. Graham Stephan is part of an affiliate network and receives compensation for sending traffic to partner sites. The content in this video is accurate as of the posting date. Some of the offers mentioned may no longer be available.

[SteveRam]

I didn’t start until my 30’s and I’m still in my 30’s, and got 5 out of 5, just hope it encourages someone that it doesn’t matter if you don’t have any of them right now, you can start TODAY regardless your age and change your future! Great video Graham! Thanks for sharing!

[iammars]

1. Credit above 750
2. Get out of bad debt (above 5% interest rate)
3. Have 1.5 years worth of expenses invested
4. Create a 2nd income source
5. Save 25% of your income

[kack]

time for you to shine, talk about crisis please

[fatherleo]

I'm already in my 30's but I'm going to pretend I'm in my 20's just for this video

[jacksonjobe]

“The first thing you need is good credit”.
Dave Ramsey “Im gonna have to stop you right there”

[luhandreludik]

I saw your video with Jubilee no jokes you have my respect

[Sultanrx]

You forgot

Sixth: by the age of 30 you should aim to have smashed all the like buttons of G P Stephans videos!

[danieldavila]

Ok 23 right now.

• I make about $500 a month off of Turo renting out a few cars and $1000 a month from work.
• Credit Score at 765 (three credit cards)
• I recently got my real estate license last week.
• I get my tuition at Cal Poly Pomona 100% paid for by financial aid.
• I have $20, 000 saved away.

That's where I stand today.

[mcln]

Appreciate the lower Ads quantity!!! 👍

[ForcefulScythe]

turn you lights on, oh flip, it broke

[MoneyMindsetM]

The school didn't teach us these things, Thanks, Graham!

[freyastears]

Why were you so quiet in the Jubilee video?

[MrMountain]

Graham, I absolutely love how you spend the time to write a lengthy description in each video! That way I have something to review back too after watching the video! Thanks! Keep up the good work!

[sellanddd]

Pleasd do a follow up video for age 40!

[philp]

Right, having just a single source of income makes you vulnerable. It's better to be prepared. Who knows what expects us in the future.

[hunterlisk]

My goal for this summer is to buy my first house hack just like you! Then by the end of my 20s I hope to have achieved financial freedom! Wish me luck, and i hope everyones dreams come true too!!

[nataliam]

28 yo
1. 2 properties in Miami
2. $160 K in savings
3. Saving 23% of my salary every month
4. Credit above 780

[GriffinMilks]

Been following you for 2 years and still got fooled by that thumbnail. Shoulda known! Great tips though Graham. I'd advocate the multiple streams of income as THE most important that people need to really strive for!

[CuriosityUnchained]

These are excellent advice as usual. And I really like that you stressed living expenses instead of percentage of your income

[manny]

@12:00 Looks like the Equinox in Paramus, NJ 👀