Finance in Your 20s

May 22, 2006 at 10:43 am 3 comments

MSN put together a very good page (with many links) on how to manage finance in your 20s.

Key take aways:

1) Put as much aside (aim for 10-15%) for retirement as you can because later on, you will have less money to set aside because of family, kids, medical bill, etc.

2) Get health insurance even though you probably won't use it (since you're young and not likely to get sick)

3) Take more risks.

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Entry filed under: General, Personal Investing.

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3 Comments Add your own

  • 1. Danny  |  May 22, 2006 at 2:52 pm

    1) lol i did up my contribution from 8% to 10% for all 3 paychecks 😛 my budgeting abilities is comparable to that of the us-gov’t, so didn’t work out all that well! lol

    2) i’m totally under-utilizing my health insurance 😛

    3) is that your way of hinting that i should dump a few k and get a sports bike? o_O lol see 1)

    Reply
  • 2. Peter  |  May 22, 2006 at 5:22 pm

    I like Danny’s take on your idea of point number 3 😀

    Reply
  • 3. sung  |  May 27, 2006 at 3:13 am

    health insurance is worth it i think… esp the premium is much lower at younger age.. some of them even offer the same premium througout the plan period..

    invest in those 15 years plan.. after averaging out.. the return should be all right… some of them don’t charge for switching funds (if you’re investing in funds that is), which could work really nicely.

    and as usual.. i’m talking about hk 🙂

    Reply

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