What To Save For In Your 20s


You know there’s a lot of things you’re
about to buy when you’re near 20s that you never should. And there’s other
things that you should be buying that you don’t even know that you should. My
name is Kris Krohn and i was financially free at the age of 26 years old. And I’ve
been on a journey since then sharing with people all over the world how you
can duplicate these efforts and results and create them in your own life. So
today, I’m holding nothing back. I’m going to share with you point-blank what you need
to be doing in your 20s something most of you are not. Let’s get it fixed and
let’s help you build that wealth now. Today, we’re talking about perhaps one of
the most important financial decisions of your life. Because when we talk about
what you should be putting your money out for in your 20’s, you’re ultimately
determining your destiny. Because some people you know they’re doing in their
20’s, they want to play. They want to live it up, they want to have it all. You know,
they want the nicest car and they want the nicest condo or house that they can
get. And they want world travel. And as a result, they have no money left in the
bank account but they are living it up royally. And I’m not going to say that
that in and of itself is a bad choice. I think a lot of our uprising generation
Gen Z, Millennials; we want to have it all. I’m with you. I want to have it all. And
if you spend all of your money, you never have the ability to create a goose that
lays golden eggs. Now, what’s so beautiful about a goose that lays golden eggs is
that if you can find something to put your money and that pays you, then it
means that you work less and then you can add even more freedom, even more
lifestyle and ultimately more mobility. I think that that’s something that people
really value today. So, the choices that you’re going to make right now hopefully
in this video, what I’m gonna kind of put up for you is going to help give you the
direction and the specifics because I follow a very specific financial model.
When people come out to my events, I tell them I give them their million dollar
game plan. Some of you need a 20 million dollar game plan because of how
big your goals are how big your ambitions are. So, the question is what
are the rules to financially getting where you want to go. That’s what I’ve
got for you. I can teach you the rules for getting rich but you have to just
pause and ask yourself, is it going to be worthwhile for you? Because part of what
I’m gonna ask you to do, it comes down to a principle called delayed gratification.
Which essentially means I’m going to put off some of the nicer things that I’d
like to have because I’m gonna make some different choices. If I were to choose to
have less for the next five years, but have anything that I want for the next
50, would that intrigued you? Would that be useful for you? Because some of us are
really trained to just say, “Nah, you know, I’m going to follow Parkins law. Which says
I’m gonna spend plus or minus 10% of what I make. This is what most
people do. And financially, it gets painful because they’re laying out all
this cash. Because they don’t understand that that nicer car, that’s an extra
payment. That extra payment could actually go towards an investment making
you money today. We’re that slightly nicer condo or that nicer house that’s
not really an investment, that’s just more money that you have to earn at your
job to service it. And what it does is that actually it’s like it puts us in
chains and it binds us. The reason why I created my financial freedom at the age
of 26 is because I fell in love with investing. Not saving, I’m telling you
that you want to be broke. Now, don’t get me wrong. I want you to hear me. I want
you to be broke. I don’t want you to save money and put it in a bank. A bank is a
horrible store of value. Cash is a horrible store of value. It loses 3% of its value every year. It’s going in the wrong direction.
You don’t want savings. You want investments. And you want investments
that are paying you. Because when you invest enough and they pay you enough…
Dude, I remember when my first 25 properties were paying me over $10,000 a
month. Do you know what that meant for me? That meant that I could actually walk
into my boss’s office that particular morning and actually say, “Erin, I want a
$70,000 raise.” And they were already paying me 6 figures a year. When I had
started off at like nothing. But I built myself up. And when I walked from that
six-figure job, I was able to do it. I had the freedom and mobility to do that
because I had an alternative income that I could control. It was controlling my
financial future, my choices and what I wanted to do with my life. And so, you’ve
got to decide right now what’s really more important to you. Living up and
spending all you got now. The problem is is that we habituate ourselves into that
lifestyle and way of being. And then guess what happens? We stay that way for
the rest of your life. I instead fell in love with the model of investing. So, I
would scrape a little bit of money together and I put it into a property.
And then that property paid me $500 a month. And I thought,
“Alright. I can’t retire in 500 a month.
But you know what? $500 that extra month is a big-time
discretionary income that I didn’t have before.”
And then I set that aside. And I put it towards my next investments. And I set
that aside and I started getting a track record. And the more people wanted to
invest with me. And then all the sudden money started you know just just coming
into my lap. And then I could use that to basically buy up or a lot of real estate.
And every time I got a big chunk of money. I never once thought upgrade your
lifestyle. Don’t get me wrong. 4 years later, I did upgrade my
lifestyle. 4 and a half years later, I was living in a 10,000 square-foot
custom-built home right on the golf course
outside of Provo Canyon, Utah. And I was driving an Escalade. And I was driving a
beautiful BMW convertible. And I felt like the world was mine. But the reason
why I upgraded my lifestyle is because I was delaying that gratification until I
had enough money that I could actually afford that lifestyle easily and
effortlessly. So, the big question that I have for you that starts this whole
chain reaction. How much money are you going to need to learn to save to
actually have money to invest and have it turn into something amazing?
The amount of money that I actually want you to have available… This is going to
freak you out at first but this is what I want you to work towards. I want you to
find a way to save 40% of every dollar coming in. Now, think about it for
just a second. You want to know what one of the biggest bills that we pay? Its
taxes. And the IRS, they get their pound of flesh. They get their money. And at the
end of the day after we pay the IRS, what do we have left for us? Very little. After
I paid my mortgage and the rest of my bills, what do I have left? Very little. In
the past, I said 20%. But I’m pushing the bill and I’m now saying 40%. I want you
to get a financial money makeover. And I want you to find a way to say, “How do I
say 40% of my money?” If you can do this, do you know what this communicates? It
says that if you can take that money and then put it into your investments, then
your investments can start working for you instead of you working for money. Now
money works for you. So for example, I get a chunk of money together; I buy a
business. And I’m the owner of it. Not the operator and it pays me. I just started
another business last month. It’s paid me over $100,000. And
guess what I put in about 4 hours of time and I put in zero of my own dollars.
I get another chunk of money. I put it in another investment that it’s gonna pay
me. And then I get that money in this money and I put it together. And all of a
sudden, they have this avalanche building up. You want an avalanche of money
flowing in your lap in the next 10 years. But that all starts with this. How
do you find a way to save 40% of the money that you make? Listen, you’re
already doing it for your house. You’re already doing it for groceries. You’re
already doing it for every thing else. But why aren’t you doing it
for your future? And why are you doing it for the lifestyle that you want to
create? In fact, there’s even ways to accelerate it. But this is really
ultimately the end of the day, it’s a massive show of commitment. You see the
answer your question what you should be saving for in your 20’s? Its investments.
It’s not a house, go rent one. It’s not a car, lease one. Keep your payments as low
as possible. Keep your cash. Keep 40% of it. Find a way,
If you’re watching this video, you’re like, Kris, there’s no way.” Some of you
were thrilled. You’re like, “I can do that.” You need to find a way to restructure
yourself so that you can be saving that money. If you do, then you have enough
meaningful money to invest with and it’s like standing at the top of the mountain
and rolling a little ball down the hill and it gets bigger and bigger and bigger.
In fact, I created a video for you that I want you to watch next. It’s my journey
of what I did in my 20s to basically be financially free and retired at the age
of 26. Now clearly, I’m not retired. I’m making
videos and I’m helping the world I’m doing a lot of community service and I’m
building even more wealth. Because I found my Northstar, I found what brings
me joy and happiness. My balance is spending time with my family, traveling
the world. Businesses that I love and joy and making videos for you. Like this is
true to who I am. For you to have a life filled with that level of options means
that you’ve got to find a way to take at this young period of time in your life.
Do things different than the norm everybody else so that you can build a
future for yourself that creates all the possibilities you could ever want. So, the
video that I created for you up here in in the top corner here, it’s had millions
of views. And frankly many people attribute that to how I helped them
create financial freedom in their 20s. And don’t worry if you’re in your 30s,
it’ll work for you as well. So, check that video out. I’m going to break it all down
I’m going to actually give you the systems and the steps of what you should be
putting your money into in your 20s.

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