‘I Will Teach You To Be Rich’ author Ramit Sethi says young people make 3 mistakes over and over again when building wealth

“I Will Teach You To Be Rich” author Ramit Sethi.
The most common mistake that young people make is that they wait too long to start investing.
Instead of waiting until you’re debt-free to start investing, start the habit of investing small amounts now.
If you’re still going all-in on crypto, consider limiting your crypto investments to 5% of your overall portfolio.

Ramit Sethi, author of the bestselling personal finance book “I Will Teach You To Be Rich” and a new journal to accompany the book, has seen young people make too many of the same mistakes while building wealth.

The key mistake most young people make, according to Sethi: Waiting too long to start investing.

Sethi advises young people to use compound interest to their advantage and start investing as soon as possible. “Time is on your side. When you’re young, it feels like $100 a month wouldn’t add up to that much. But when you run the math, it’s quite powerful.”

Here are three common mistakes young people make while…

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This article was written by [email protected] (Leo Aquino, CEPF) and originally published on www.businessinsider.com