How to Turn Your Dumb Summer Job Into $162,000
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Uploaded by vlogbrothers on Jul 4, 2011
In which John celebrates financial independence by explaining how minimum-wage summer jobs can become incredibly lucrative if only you save some of your money in a retirement account. In the US, the most common retirement accounts are called IRAs (IRAs have tax advantages), but any investment account will do. Just sock the money away in a low-fee diverse mutual fund, wait 50 years, and enjoy the magic of compound interest.
Caveat: Obviously, I am not a financial advisor or investment professional. I am a novelist. Also, while it's a good idea to start an IRA in high school for most people, it may be a BAD idea if you're planning to seek financial aid from a private college in the US, because they might count your retirement savings against your financial aid application. (If you attend or will attend a public university, this is unlikely to happen according to my research, although again, I am a novelist, not a banker.)
There are a LOT of nerdfighters in the voting round for YouTube NextUp Europe. You can vote here: http://www.youtube.com/nextup
Nerdfighters to vote for include:
missxrojas (who gave The Fault in Our Stars its title)
DeEelcoShow
BarryAldridge
dutchforn00bs
Beckie0
booksandquills
OMFGItsJackAndDean
tristopiatv
willsodyssey
thegearskeepturning
musicfromblueskies
tyrannosauruslexxx
EDIT: Islamic banking does not use interest, so this particular piece of financial planning advice does not hold water in the Islamic world. (But I still advocate for beginning to save early!)
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so do we have this in Canada?
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I'm sorry, where the fuck did you find an account/investment that has a 10% return?
5 days ago in playlist Uploaded videos 2
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You make a butt load of money D:
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vlogbrothers is like fun school
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I for one jumped on the stock market, hurrr.
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ohh ahh! up the ra!
IRA FTW!!!
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... In Switzerland, we've got 5 weeks of summer break. BUT we've got many other breaks that are all 2 weeks long over the year (fall break, christmas break, sports break and spring break). So that's not bad, either :)
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where i'm from we get...8-10 weeks for summer break
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am i the only one who had the ad of the creepy man saying "i love you, vlogbrothers"?
sprillia 3 months ago in playlist Uploaded videos 89
When I first saw IRA, being form Ireland and all, I found it hilarious when he had to point out it wasn't the IRA I'm familiar with lol xD
missdecember97 3 months ago 44