Young Adults: Become A Millionaire

11 Apr 2022 · 1 min

Watch on YouTube

0:42

In this concise YouTube monologue, Jerry Taylor addresses young adults and outlines a three‑step financial plan aimed at building millionaire‑level wealth by retirement. He first advises obtaining a credit card at age 18 and paying the balance in full each month to build credit. Next, he recommends purchasing a home early using an FHA loan, which requires a low credit score and a 3‑4% down payment. Finally, he urges viewers to open a Roth IRA—preferably through Vanguard—and contribute a few hundred dollars monthly, emphasizing that early, tax‑free investing can compound to a million dollars by retirement. The video ends with a call to action to follow the channel and a promise that viewers will thank him in 40 years.

Chapters

Are you a young adult? Do you want to be a millionaire and much more by the time you retire? If you're a young adult or you know a young adult, write these things down. The first thing you need to do is get a credit card. You can get them as early as 18. Get any one that you can qualify for and pay it off every month. Secondly, as early as you can swing it, buy a home with an FHA loan. The credit score you need to qualify is very low and you don't need much money down, 3 to 4%. Next, and this is huge, start yourself a Roth IRA. Vanguard is a good place to start something like that. The earlier you start, the better. If you're in your early 20s, just a few hundred dollars a month means you will be a millionaire by the time you retire, and it will all be tax-free. Do these things now. Look me up in 40 years so you can thank me. Now reach over and follow this channel.