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The Biggest Financial Mistakes to Avoid in Your 20s

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In the long run, this ignorance is bliss mentality only leads to more problems, whether it’s mounting credit card debt or puny retirement funds. Leaving money on the table Financial planners advocate for maximizing retirement savings to meet employer matches. You have to balance a sense of security with a robust life in your 20s.”

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The Biggest Financial Mistakes to Avoid in Your 20s

Success

In the long run, this ignorance is bliss mentality only leads to more problems, whether it’s mounting credit card debt or puny retirement funds. Leaving money on the table Financial planners advocate for maximizing retirement savings to meet employer matches. You have to balance a sense of security with a robust life in your 20s.”

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A Millennial’s Guide to Finances: 5 Things to Start Before You Turn 30

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However, important skills like when and how to manage your finances don’t come naturally to many. List out your purchases in an Excel spreadsheet at the end of each month and place each transaction into a bucket. Get detailed and introspective to evaluate which purchases are legitimate needs vs. nonessentials. Wiedman, D.B.A.,

Finance 279
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Start Talking to Your Kids About Investing—Here’s Where to Start

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To help your kids get started on their investing journey, you or other family members can set up accounts that benefit them, either using a custodial brokerage account, 529 college savings plan, or, if they earn their own income, a custodial Roth individual retirement account to help them get a headstart on retirement.

Finance 246
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Lessons From Past Recessions

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Recessions are a natural part of the economic cycle and help to reset the economy when it grows too quickly, making it harder for regular people to purchase everyday items. Am I anticipating any major life events with significant expenses attached (like a new baby or retirement)? Consider your skills and upskill.

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How My Experience as a Black Entrepreneur Shaped My Views on Building Financial Freedom

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Instead, in an effort to avoid conflict altogether, they are far more likely to quit, which could have a negative impact on their earning potential, retirement account contributions, health care coverage and other financial employee benefits.

Medical 279
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Future-Proof Your Career

Office Dynamics

This is a skill everyone needs regardless of their title or position. What skill sets are growing? I’m always amazed when I meet someone in the workplace and I ask them what their goals are for the next year or I talk to them about expanding their skill sets and they say to me, “I plan to coast until I retire.

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