Young, energetic, curious and restless are just some of the adjectives used to describe people belonging to this crucial age cohort. They have just finished school or have just landed their first job(s). They are at a stage in life where they barely know what to do or who to talk to. Save for classroom education, most of them don’t have much experience in anything.
They are broke or literary surviving on meager resources. So is it possible to start investing at this age? If yes, how should a person in their 20s invest? We talk about how you can make good investment-driven choices at a young age.
1.Look For Skills Not Money
Just because you failed form 4 does or you have just graduated from college doesn’t mean you should stop looking for more knowledge. Likewise, just because you are in campus pursuing a degree and dreaming of getting a big job one day doesn’t give you the ticket to slumber.
This is the perfect time to acquire an additional skill. This is the time to learn how to play a guitar – who knows, you might start a band someday. This is also the time to learn how to create prototypes – who knows, you might want to venture into manufacturing in future.
This is the time to get out there and learn new stuff; not the time to lock yourself up in a room watching movies and playing video games. Most importantly, this is the time to hide behind somebody and learn a few more corners that can help you keep food in the table in the future.
2.Know People {Insert Nancy Juma’s Words}
The worst mistake you can make right now is to isolate yourself from other people. It is the same mistake that those who finish campus and pack up their bags back to their villages make. At this age, you cannot afford to walk alone. You need to know people and make them know you as well (especially for your good deeds).
Working at your first job? Make a point of knowing a few more people within and outside your industry. Still in school? Try to know a few people in the corporate or parastatal world. The word “knowing people” in this case means building quality networks with people who can mention your name or give you that much needed recommendation at the hour of need.
And how exactly do you go about this? Easy, by taking up those volunteering opportunities, internships or even short-term job opportunities that come by. For instance, with the elections drawing closer, you can register to become an IEBC clerk and from that point build your networks. Whatever it takes, don’t isolate yourself.
3.Try and Fail
Don’t look for perfection or comfort. This is not the time for that. If you a truly craving for big things in life, the this is the perfect time to try and put your wildest dreams to the test. No matter how wealthy or poor your family is, don’t settle. This is the best time to satisfy your curiosity.
This is the best time to spend sleepless nights calculating. Most importantly, this is the best time to knock on all the right doors without shame. Ten years down the line you’ll be too busy with other stuff. Remember, several years from today you will regret more about the opportunities you didn’t take more than the ones you took and failed.
4.Invest in Some Long-term Agenda
If you are lucky to be earning some money, don’t spend all of it in clubs and drinks. One of the biggest assets you have right now is time. This (time) if used wisely can turn to be the biggest game-changer of your life. However, if the same is wasted, it can come back to haunt you.
Learn to keep your money somewhere and leave it there for sometime – such that no matter how broke you get you don’t go withdraw it. Talk to your bank manager about Fixed deposit investments, treasury bills and unit trusts. Look for a reputable land investment company and buy some land even if you are going to pay for it on installments.
Fifteen years from today, you will thank me for this advice.
Final Word
You won’t be in your 20s forever. Soon you will be having a large family and serious responsibilities to take care of. Why not start investing today when you still have an opportunity?
