An Investment In Yourself
Adam is in college and working. Where does Dave suggest he put the money that he earns for his saving and investing?
QUESTION: Adam in California is in college and working. Where does Dave suggest he put the money that he earns for his saving and investing?
ANSWER: I’ll give you a really boring but wise answer. The best investment you can make, mathematically and factually, is in yourself. That means you will actually make more money on your money when you complete college. That is huge. If you could do one investment that makes 10% on your money and another one that makes 100% and another that makes 500%, you do the one that makes 500%. Finishing college is the best investment.
I would set the money in a savings account or a money market account just so you can pluck it out of there and write a check for tuition. Until you get to $50,000 in that savings account, I wouldn’t get fancy. I’d just finish school. That provides your biggest return on investment.