A Look At Typical Financial Advice And Why I Started This Blog
Doing my usual web surfing of the big financial sites such as Yahoo! Finance, I came across a headline for retirement advice for 20-somethings. After reading the article, it was confirmed for me just how necessary a website like 20s Money is for our generation.
The article gave five tips for 20-Somethings to save for retirement. The author writes that people our age should start early, make retirement a priority even if its far away, and to balance your risk. Let’s look at each piece of advice.
This is obvious. The earlier you start, the more time your money has to grow. Can we stop writing articles about starting early? The people that need to hear such advice are probably not the ones reading financial articles on the web.
Make Retirement a Priority
This is similar to starting early. Obviously retirement has to be a priority to even start early. Again, weak advice in my opinion.
Balancing Risk Through Diversification
When it comes to active investors, I couldn’t disagree more. Again, I am assuming those that read financial blogs are, in fact, active investors. I have written before that diversification is not the path to financial prosperity for people in their 20s. Unfortunately for young Americans, there are too many factors working against your money to simply diversify. As I mentioned in a previous article talking about why you won’t have enough to retire and what to do about it, issues such as inflation and a weak currency are eroding retirement savings.
Why I Started This Blog
I believe that you, the young investor, are responsible enough to handle actual financial advice; advice that goes further than simply telling you to start early. My advice to you is to outperform the market. Outperform the market this year and next year and the next. Accomplish that and your retirement will be beautiful. Once you’re a believer that it’s possible, then it’s time to learn the skills and the knowledge that it will take. I am committed to helping you develop the skill set and understanding of the market to be an extremely successful investor.
If you’re like me, you are in your 20s and you have a desire to build immense wealth. Make 20s Money your home and let’s move forward towards this dream together. Ignore the internet “experts” that repeat the same vague and dumbed-down financial rhetoric over and over. I’m tired of it, and I’m sure you are too.