What important things does a 20 year old need to know about money and finance?

Answer by Doug Davis:

1. Become financially literate: WSJ, CNBC, Bloomberg, LearnVest – Where Life Gets Richer, etc.
2. Learn about possible investment vehicles: 401k, Roth IRA, Savings Accounts, etc. – Educating the world about finance
3. Identify an amount you are comfortable saving each month and put it in the proper savings vehicle.
4. Don't be scared of the market, you have 40+ years of savings.  Don't get antsy when the markets drop, this is sometimes a great time to buy into the market at a cheaper valuation.

View Answer on Quora

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s