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How To Save 100k By 30



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so today i was on google and i decided

to look up what is the average net worth

of a 30 year old i'm 28 years old i'm

almost there

and it was really interesting to find

that the average net worth

of a 30 year old is 7 000 and it made me

think

whether that number is true or not true

that i figured i'd share with you in

this video

how i've been able to save over a

hundred thousand dollars before 30. i'm

28 years old right now and i'm gonna

give you three tips today

that have helped me the most along my

journey in saving and investing as a

young professional my name is dane

camella i'm a corporate technology

professional

sharing videos on career personal

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tip number one and this is going to be

the biggest tip that i think can help

you

get to saving a hundred thousand or even

more by the time you're 30

and that's going to be ownership

ownership and when i say ownership

i don't mean starting your own company

quitting your job

and trying to pursue becoming an

entrepreneur there's nothing wrong with

trying to become an entrepreneur but

when i mean

ownership i mean finding a career

a job an opportunity that gives you

ownership

in the company if you can go work for a

tech startup you get stock in the

company

if you can go work for a facebook a

linkedin a microsoft

these companies give you the ability to

buy stock

in the company at a discounted rate when

i was looking at my personal situation

how can i save more money how can i

invest more money to get me to my goals

i looked at how can i join a company

that gives me a piece

of the company that i'm actually working

for there's a lot of different ways you

can do this you can go

and talk to someone who you know who has

a company and maybe it's small maybe

they have five employees

and you're willing to work for that

person for free or for a

small sum to get a piece of the upside

of the business's success

you don't have to go work for a facebook

or a linkedin or a massive

fortune 100 or 500 company but if you do

decide to go down the route of working

for a company

the biggest thing i can say from my

advice and my experience

is it is so much better to work for a

company that gives you the ability

to have ownership in a company ownership

in the upside of the company

i know more than one person not just

from my experience alone

they were able to take a percent of

their paycheck and invest it in the

company stock at a discount

and when you do that you get to benefit

from the upside of the growth of the

company

is this going to be more predicated to

technology startups yes

but then look at all the companies that

are bigger fortune 500s fortune 1000

they not only have 401k programs which

we'll get into but they give you the

ability to buy

into the company and if you can buy into

the company and

reap the success of the company becoming

more profitable more successful

you are going to have a unfair advantage

if you will from someone who is just

working for

a job that gives them 15 an hour and

they don't give them any

upside of the business's success so tip

number one

ownership i'm not talking about owner

owning a property or anything like that

i'm strictly talking picking a

profession which you are going to spend

a

third of your life doing where you can

benefit outside of the

money that they pay you every two weeks

they will also pay you

for being a part of the company and

giving you the option to buy stock

in the company tip number two and

something that has helped me

so much on my journey as well is saving

a percent of your income and i know

you might have heard this many times but

when i say saving a percent of your

income

and someone who is ambitious and wanting

to get to a hundred thousand dollars

i mean saving 20 or more of your after

tax

income so everything that comes in

you're saving 20

or more the the faster you can get to 30

40 50

and i know that might seem like a

stretch but if you prioritize

you set up some things and you get

really strict with being able to do this

it's going to help you and the other

thing i would add on top of saving 20

or more is automating it so every time

you get that check it automatically

moves

to a high interest savings account that

you might have it moves to a charles

schwab a fidelity 401k

or an iowa ira that you have at that

moment

that is going to help you save so much

more and

there's a book out there by tony robbins

it's money master the game and there's a

story in there that's super

interesting and it was a story of a ups

driver and this goes

way back to i believe he retired in 1952

so he retired in 1952 with 70 million

dollars and

his salary was at its peak 14 000

a year i know you have to adjust for the

time but i think this story is a great

example of what compound interest in

saving a percent of your income

can provide for you so that person who

was a ups driver who retired with 70

million dollars was saving 20

of his 14 000 a year salary he took a

substantial amount

of his income and he invested it in what

i was just talking about before

in the first hit in ups stock and other

investments 401ks etc etc and he was

able to retire with 70 million i'm

talking about saving a hundred thousand

dollars by the time you're 30

not 70 million dollars but that just

goes to show you that if you can

force savings that you can force and

continue to

slowly make a little bit more

contributions to your 401k

you can slowly make maybe a little bit

more contributions to just your

high interest savings account it's going

to take you leaps and bounds

if you work for a company or you are

looking to work for a company

i would highly suggest finding a company

that gives you the ability to

invest in a 401k that matches you up to

one two

three four five percent that means if

you make a sixty thousand dollar a year

salary

and they're going to match you uh three

percent of your yearly salary

it will give you an additional eighteen

hundred dollars of free

money every single year so you invest

the eighteen hundred dollars if you were

saving that percent

uh to put towards your 401k the company

will match you an additional 1800

that is free money and i would i would

suggest to go above and beyond and save

more than

whatever your company is going to match

you because that's being put

into a investing account where you can

benefit from the market

if you look at the s p over the last 90

years

it's gone up i believe about 10 percent

so you're making that 10

every single year compounded and that

money turns into a lot

more money tip number three invest in

yourself

and yes i mean you invest in yourself

but when i say invest in yourself

i'm not talking about ooh i'm going to

go get that nice watch oh i need to

upgrade my car

oh i need to get a nicer house that's

not what i'm talking about i'm saying

investing in yourself

your personal development your

professional development your education

as a young professional so investing in

yourself

is something that i've done for the last

10 years of my life and i've spent

thousands and thousands and tens 10 000

plus dollars on my own personal

development

my own education from reading books from

getting more skills

so i can become more valuable in the

marketplace

your income if you've ever heard this

before your income is directly

proportionate

to the value that you bring to the

marketplace so if you can invest

the money you make a percent of the

money you make you know you're saving 20

you're saving 30 or saving 40 you're

getting

a lot of that money that you're making

saved if you can take a percent of it

one two

five ten percent of the money that you

earn

and invest it in your own self-education

it's going to give you

the chance to get more skills to become

more valuable

so you can go to your job you can go to

your boss your manager and ask them

hey i've done this can i get a raise can

i make

more money and that ability is gonna

give you

another better chance at getting to a

hundred thousand dollars

by the time you're 30. brian tracy

someone who was the first person i

started reading when i got into personal

development self-education

self-improvement

said that every one dollar that you

invest

in your personal development is going to

give you ten dollars

in return to that one dollar darren

hardy wrote about this in his book

compound effect he said

that has been the biggest thing that has

helped him in his career and this is

someone who makes millions and millions

of dollars a year

he doesn't even know how it's been

harder and harder for him to find ways

to invest that money

and i'm telling you if you start early

not only with investing

but you start early with investing in

yourself

reading books expanding your mind

expanding your education

your professional development it will

help you

increase your income to get you to that

goal of saving a hundred thousand

dollars a year

i have a question for you what is your

savings goal in 2020

leave a comment below i'd love to see

what you're trying to strive for

this year doesn't have to be a hundred

thousand dollars but i'd love to know

and before you go make sure to like and

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