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3 Financial Mistakes to Avoid in Your 20s - TikTok

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Here are the three biggest financial mistakes I made in my 20s and how you can avoid them all. I'm Tyler, a former financial advisor and portfolio manager. Now I make financial content with companies like FASTAIT to show you what the future of financial planning looks like. Number one, I let a friend of mine who worked on Wall Street manage all of my money. He charged a 1% management fee. His company charged me an additional 1% in mutual fund fees, and he cost me yet another 1% in transaction fees. Big mistake. Number two, then, even worse, because I had never experienced having that amount of money fully invested before. When the 2008 housing crisis hit, yeah, freaked out like the rest of the world, sold it all and locked in a 40% loss. And number three, finally, now that I was officially terrified of investing, put all of my remaining money in a certificate of deposit earning 1% the age of 27 years old, because I had no idea what to do. My friend was too busy gathering more assets for his firm to help guide me through. So if you want to avoid making the mistakes that I did, go to FASTAIT.com slash Tyler today and let their team of experts help coach you through some of these inevitable challenges, and get you one step closer to where you need to be.

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Created Mar 14, 06:10

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Script #344

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TikTok

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YouTube