Tag Archives: millennials

Financial Mistakes Made in Your 20s

The Most Common Money Mistakes of Your 20s

The biggest mistake any investor – including someone in their 20’s – makes is not understanding the multiplying effect of compound interest. Time is the key component of growing wealth. Let’s look at some simple math: 270, 114, 48, 20, 40, and 3. At birth your multiplier is 270. If some invested $1,000 dollars and […]

How do I convince my millennial child that saving is important?

The only way to convince someone to do anything is to set a good example.  Monkey see, monkey do.  Start sharing your financial plan with your kids.  Quotes like, “I sure wish I would have started when I was your age,“ set the stage. Ask your millennial questions like: “Have you started investing?” “What can […]

Why aren’t Millennials saving?

This age demographic is financially illiterate and many are suffering from student loans and credit card debt. The irony is that starting an investment nest egg has never been easier or cheaper. The financially illiterate suffer from the ceiling of complexity. They don’t know what to do, they don’t know how to invest and are […]

The One Thing Every Millennial Should Do

Patrick O’Shaughnessy at the Millennial Invest blog wrote a post titled “6 Things To Do In Your Early 20’s.” Number two on the list is save and invest, and I believe this is the most important thing a millennial should do in their early 20’s. Ideally, investing should start at birth, it’s why I wrote […]

One Third of America’s 18- to 34-Year-Olds Live with Parents

According to a report from Deutsche Bank, one third of american adults aged 18 to 34 live with their parents. So, Munny Journey is introducing the “Keep Your Kid Out of Your Basement Investment Kit.” Just a dollar a day, starting from birth, can keep your kids (or grandkids) from living in the basement. Take […]