Summary of Start at 20, Retire by 30 (Guide to Personal Finance)

00:00:00 - 00:10:00

The video provides tips on how to retire by 30 by starting with 20 years of saving and investing. It recommends using a budget or tracking app to help you see where your money is going and how much you're spending. The next step is to establish good financial habits, such as living below your means and saving for a rainy day. The presenter recommends using a credit score calculator to make sure you're not overspending. Finally, he provides a link to a free flowchart that will help you reach your retirement goals.

• 00:00:00 In this video, the presenter explains how to retire by 30, starting with 20 years of saving and investing. He recommends using a budget or tracking app to help you see where your money is going and how much you're spending. The next step is to establish good financial habits, such as living below your means and saving for a rainy day. The presenter recommends using a credit score calculator to make sure you're not overspending. Finally, he provides a link to a free flowchart that will help you reach your retirement goals.
• 00:05:00 The tips in this video include paying rent and mortgage, learning to cook and avoid eating out, and paying for essential utilities like water, electric, and heating, before paying for non-essential bills like internet and phone. The video also recommends putting money towards debt reduction in phases 1 and 2, and investing in a 401k if offered at work.
• 00:10:00 The video discusses the different stages of personal finance, focusing on starting at 20 and retiring by 30. It suggests that, in order to retire by 30, you should focus on reducing your debt, investing your money into a tax-advantaged retirement account, and saving at least 15% of your pre-tax income. Finally, the video suggests that, if you also have children, you should consider saving more money for their future.