Money Milestones You NEED For Your 20s

When you hit your 20s, the world suddenly becomes your oyster. You get a bit more experienced, a bit more joint pain, and a lot more stress about your finances. The largest concern for most people is when they try to answer the question, “How do I set myself up for financial success?” It can be scary, so today @YourRichBFF is going to break down topics like opening up a bank account, credit card, and investing for millennials. Follow this framework to set yourself up for financial success for your 20s, 30s, and way beyond.

Resources for Credit Scores:

Resources for Investing:

About Me
Your favorite Personal Finance & Investing Creator. Let’s talk about money, career, & getting rich. Learn more about my background in Finance on www.YourRichBFF.com and follow me for more smart money tips.

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[Kellykittymom]

Oh you were around when I was in my 20's!!!!

[LeonWilk]

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains. The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them. Well, at least my advisor does too, jokingly

[user]

0:25 Opening the right bank accounts
2:11 Spending your money the right way
3:52 Making a budget
5:16 Paying your own rent
7:06 Start investing

[oleksandrafilippova]

Could you make a video what milestones a person needs to meet by 30? I.e. how much to save/invest/put in retirement. And how to decide the ratio among these buckets?

[FiscalChronicles]

As someone just starting out in their 20s, this breakdown of key financial goals is incredibly helpful. It's like having a roadmap to navigate the often intimidating world of personal finance. Thanks for sharing this valuable information. I'm feeling more empowered and motivated to take control of my financial future!

[Deitricklaverne]

It's always good to have a financial plan, no matter the age group, This is opportunity newbies and intermediate traders should capitalize on, it's a shame a lot can't see this.

[PassionGodAlways]

Thank you!👏🏾👏🏾👏🏾
I can't wait to share these gems 💎 with others! 😃

[SmartWealthEducation]

This video is incredibly useful 👌 Thank you so much for your help 🙏

[emmaswan]

Happy to say I'm 25 and have all these mastered 😁 hopefully as I've set myself up well now i will be financial strong later in life

[rachelhobbs]

I love this video! I will say though, its a trip to small claims court to settle a landlord dispute over a security deposit and I’ve never chosen to do that even if I think the landlord took way more than their due. It takes time and some money to get that money back, sadly. And sometimes I’m not even living in that city anymore so it’s even more time and money to get it back. In some sense I think a better policy is to carefully vet your landlord to avoid getting into that situation in the first place. Sometimes medium sized corporations are good or an individual landlord who you know is really nice and won’t scam you.

Great video!!❤

[rbugoyq]

Think number 4 shouldnt be a thing paying rent on your own is a waste.Allocating it with family or roomates is a better way to reduce costs and gain assets this way you have others paying rent to you being a landlord and following this advice .

[CarinRenee]

SoFi savings is legit 4.5 right now 🙌🏾
It’s great

[mypov]

YRBFF tell me about why its best to use credit cards more than a debit card? I've been doing the flip forever, should I switch and why? Benefits or detriment? Thx.

[poolmilethirty]

Thank you for all your wise advise Viv. Is a Roth IRA better than a regular one for a new professional who will likely have a higher tax bracket as one gets older? Wouldn't it be better to pay the tax now while the tax bracket is lower? Please advise.

[whothou]

You skip the part where you need to make your sofi account your direct deposit account or deposit 5, 000 a month to get that high interest on the savings account.

I'd personally recommend people open a savings with discover for a little lower interest but no bs involved. Or if people want a big brick and motar bank Capital one offers a competitive high yeild savings account as well next to discover

[puritygikonyo]

Does this apply to non- Americans or people who reside outside the USA?

[thefreefilmschool]

I am hitting the Milestone of Retirement. A little comforting words for all you younger people out there, things will get better. Bad times don’t last forever. That said I have my own Rich BFF she is suggesting, demanding I retire, she’s a CPA and has analyzed by finances.
That’s nice but I am kind of scared, going from a known salary to a unknown one, it kind of like be young again, oh well young can be fun. I guess I can max out my investments investments and sock money away and work a few more years, until
My retirement investments get larger, and retire.

[KB-fkjj]

Because it wasn't mentioned, you only get the 4.5% apy with So-Fi by setting up direct deposit of $1000

[rogersoria]

Can I get a 1 on 1 with you? I have some questions. Thank you

[lovingmom]

Great advice, but as a financial advisor, invest in IUL account is better cuz, it’s illness protection, compound interest is tax advantage and if the insured dies, 100% tax free goes to beneficiaries. Win win