Financial Tips for Millennials: Part 2

less than 1m read

·Nov 8, 2024

The second thing is how do I save? Well, what should I put my saving in?

When thinking about what you should put your saving in, realize that the least risk investment, the one you think is the least risk investment, which is cash, is the worst investment over a period of time. You could judge that by judging the rate of inflation in relationship to the after-tax income you're going to earn.

So, if you have an inflation rate that's two or three percent and you're earning one percent, and you have to pay taxes on that one percent or two percent that you're going to get, you're going to get taxed essentially at two percent a year, and that's going to be a problem.

So, you have to move into assets. When you do that, the most important thing I can convey to you is to diversify well. Because I can guarantee you that one of those assets, and you won't be able to pick the right one, will be disastrous in your lifetime. You will lose half of that savings if you're in the wrong one, and you won't know what the right one is.

Regulate | Vocabulary | Khan Academy

Game theory worked example from A P Microeconomics

View All

Why Self-Discipline is so Hard

This is Odin, also known as the All-father. He will become the wisest and most powerful of the Norse gods, but not yet. For now, he hangs from Yggdrasil, the world tree that holds all nine worlds together, with a spear lodged in his chest. He will hang th…

Conditions for valid t intervals | Confidence intervals | AP Statistics | Khan Academy

Flavio wanted to estimate the mean age of the faculty members at her large university. She took an SRS, or simple random sample, of 20 of the approximately 700 faculty members, and each faculty member in the sample provided Flavio with their age. The data…

Basic derivative rules: find the error | Derivative rules | AP Calculus AB | Khan Academy

So we have two examples here of someone trying to find the derivative of an expression. On the left-hand side, it says Avery tried to find the derivative of 7 - 5x using basic differentiation rules; here is her work. On the right-hand side, it says Hann…

Leafcutter Ants Slice Leaves for the Colony | A Real Bug's Life | National Geographic

Finally, our little leafcutter has reached the canopy. So, this is where the harvest happens? Everyone’s working hard before the weather turns. Slicing through leaves and bouncing their booties as they go. It creates rhythmic vibrations that other ants fe…

8 WAYS HOW KINDNESS WILL RUIN YOUR LIFE | STOICISM INSIGHTS

Is being overly kind actually more harmful than helpful? In a world that often equates kindness with virtue, it might seem counterintuitive to suggest that there’s such a thing as too much generosity. Yet, stepping back and examining the philosophy of Sto…

The Closer We Get, The More We Hurt | The Hedgehog’s Dilemma

Once upon a time, a group of hedgehogs faced the cold winter. As they were feeling cold, they decided to move closer to each other and share bodily warmth. Unfortunately, as soon as they crawled together, they hurt each other with their sharp spines. And …

Financial Tips for Millennials: Part 2

More Articles