Investing often disregarded by younger generations as something that should only be done later in their lives. After all, there aren’t many people investing before they turn 40. However, there are many benefits to investing earlier in life. Investing in Your 20s and 30s for Dummies seeks to make this process easy to understand and digest. This article will review the contents of the book in-depth.
Investing in Your 20s and 30s For Dummies Book Overview
This book is written for an audience in their 20s and 30s who are interested in learning more about investing and saving money. Some of the main topics covered include where to invest, advice about stocks and bonds, how to manage risk and return, handling short-term goals, managing high-cost debts, how to build a safety reserve and more. Investing for Dummies shares a similar style with all ‘For Dummies’ books with a very instructive and understanding tone.
The contents are split up into intuitive sections with breaks surrounding complete ideas. The authors have written the book in a straightforward manner that makes it very easy to read and understand. It takes about a week or two to read the book when reading on and off. The target audience are those in their 20s and 30s who are interested in investing. This book was written by Eric Tyson who is a best-selling and internationally renowned author in the area of personal finances.
What We Learned
- An important lesson from this book is how important early investing can be.
- This book taught us that stocks and bonds can be great first-time investments.
- From this book, we learned that compound interest can add up when investing early. For example, investing $300/month from age 20 will end up being $1 million by age 60.
- Another great lesson is that investing is just one component of an overall financial plan. Financial health also should incorporate other things such as a standard wage.
- This book also advises increasing your savings as you age. For example, if you’re investing a $100/month in your 20s, consider increasing it to $200 in your 30s if possible.
- This book also teaches how the ‘keeping up with the Jones’ mentality can lead people in their 20s and 30s to waste money on things like houses and cars that they can’t afford..
Strengths and Weaknesses
Investing in Your 20s and 30s For Dummies was overall a great read and a very informative book. The strength lies in the instructive writing that incorporates great examples and very informative tips. There is a lot of helpful knowledge to take away from this book. The target audience is focused on throughout the entire book, making it a very loyal and dedicated piece. However, this book is not without some weaknesses that we discuss a bit below.
What We Liked
We liked how the books was clearly divided into sections. This made it easy to skip ahead to sections that are more pertinent to a reader’s situation. The organization of the sections made it a logical transition from one to the other. Each section was concise and complete in its contents making it possible to skip around without missing something critical.
What Could Have Been Better
Eric Tyson wrote a very consistent book with excellent pieces of knowledge, so the things we didn’t like are minor and very limited. There were some sections that seemed to be more filler than really necessary information. We would have appreciated more real-life examples for many of the pieces of advice provided. This real-world connection would have helped to bring the knowledge into practice.
Investing in Your 20s and 30s for Dummies is one of the most complete and informative books written on the topic of investing early in life. This book not only describes how to invest, but it also illustrates the importance of investing with relatable examples and clear information.
All of these points are simply our opinion and we would like to hear about how our readers felt about the book. Comment below your experiences, thoughts and questions surrounding Investing in Your 20s and 30s for Dummies.