List at least two financial benefits of being college educated? How might a college education affect your long-term financial plan?
. Focus on the end, change the means
If you have a sharp focus on what your goals are, your odds of getting there are going to be much greater in getting there. Without having your end goal in mind, you?re not going to get very far financially. [ You will most likely lose motivation, focus, or interest. At the same time, flexibility is the only strategy that is likely to get you to where you
want to go because many opportunities and traps will cross your path in your lifetime.
2. Invest early to harness the power of compound interest
Invest early and often, and let it grow. $10,000 invested in stocks (that grow 12% annually) at the age of 22 will be worth $1.3 million at the age of 65. If you start investing early enough, you can truly set it and forget it, and maybe even live it up when you hit your mid-life crisis.
3. Don?t lose site of what really matters in life
What good is financial security and freedom if you have nobody to share it with? Don?t let money get between you and your friends and family. With each major financially impactful decision you make in life, ask yourself, ?How is this going to effect my relationships with others??. ]
There are no new answers.