[Lori]

I would recommend finding a skill and career that will pay you huge amounts of money.

Like one that will fund 40+ years of life after working for 12 years.

Best of luck to you!

[Tonia]

Compound interest is your friend. Start NOW!!! Even if it’s $5 a week it’s a start.

[J.C.]

Start your journey to FI (Financial Independence) by reading JL Collins excellent book on saving and investing for retirement called “The Simple Path to Wealth”.

[Kellie]

The podcast Money With Katie has been very helpful for me.

[Brian]

Read “Quit like a Millionaire” or “The Simple Path to Wealth” and familiarize yourself with the Trinity study.
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Once you do that you’ll have a better idea of exactly how much you’ll need to save to retire and it will help you plan accordingly.

[Laura]

You can always move money around as you learn more- just have to keep it in the same “vehicle” IRA or Roth for example.

Start by maxing any retirement plans your work offers, even if you know you’ll quit in a few years- it’s still your money.

[Endri]

Millionaire next door
Rich dad, poor dad
Psychology of money

[Mark]

The best day to start investing is yesterday. 2nd best time is today. Worst time to start is tomorrow.

Do not wait until u learned “enough” to start

[Neal]

Please read all of the book recommendations on here and listen to as many personal finance podcasts as you can, but if you like looking at numbers like me (rough rules of thumb; not financial advice), without knowing what your annual expenses are in the present and future:

• assuming you’re on par with the average U.S. household expense of $72,967 a year, you’ll need roughly $1,824,175 (using the 4% rule = annual expenses times 25)

• you’ll need to invest $89,004.57 every year to reach that number in 12 years (age 40) with an average annual rate of return of 8% (adjusted for inflation as the broad market has historically performed ~10% annually)

• to reach that number in 17 years (age 45) with the same assumptions above, you’ll need to invest $50,045.62 every year

Again, this is all just assumptions based on rules of thumb and not financial advice.

Definitely educate yourself at the beginning stages of your financial journey while still continuing to save and invest as much as you can and staying away from high interest consumer debt.

Welcome to personal finance community!

(30 and 19 years in the U.S.)

[Author]

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