Eric Tyson - Personal Finance in Your 20s & 30s For Dummies

11 Index

12 About the Author

13 Advertisement Page

14 Connect with Dummies

15 End User License Agreement

1 Chapter 1 TABLE 1-1 Your Savings Rate over the Past Year

2 Chapter 2 TABLE 2-1 Nest Egg Growth

3 Chapter 6TABLE 6-1 2021 Federal Income Tax Rates for Singles and Married Households Filin...TABLE 6-2 “Saver’s Tax Credit” for Retirement Plan Contributions

4 Chapter 7TABLE 7-1 Monthly Renting versus Owning ComparisonTABLE 7-2 Your Monthly Mortgage Payment Multiplier

5 Chapter 12TABLE 12-1 Allocating 401(k) Investments

6 Chapter 15TABLE 15-1 Figuring Life Insurance Needs

1 Chapter 4FIGURE 4-1: Credit scores show the probability of defaulting on a loan.

2 Chapter 9FIGURE 9-1: More education translates into lower unemployment rates and higher ...

3 Chapter 11FIGURE 11-1: Sample Truth in Savings Disclosure for a bank’s savings account.

4 Chapter 21FIGURE 21-1: GasBuddy can help you save money on gas. FIGURE 21-2: The FRED app puts financial data at your fingertips.

1 Cover

2 Title Page

3 Copyright

4 Table of Contents

5 Begin Reading

6 Index

7 About the Author

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Your 20s and 30s are such an exciting time. During this period you’re experiencing some dramatic changes in your life, exploring new endeavors, making your way in the world, trying new things, and meeting new people, while hopefully staying in touch with old friends and your family.

But as with anything else in life, your young-adult years can pose challenges as well. Some young people suffered layoffs and reduced employment incomes during the 2008 financial crisis and its aftermath and then again with the 2020 COVID-19 pandemic. Maybe you’ve experienced a failed relationship and a broken heart. You’ve likely had to deal with a difficult boss (or two) or a job (or two) you don’t like — or perhaps you’re in danger of losing your job.

And then there are the money issues. Most of you are out of the nest and out from under your parents’ wings, and your 20s are when you experience firsthand earning your own money and paying your own expenses. This isn’t true for all twenty-somethings, of course, because some young people still live at home or have some financial dependence on their folks — maybe that’s why they bought you this book! No matter your living situation, your young adult years can be a challenging time, but this friendly guide can help make those years smoother and more rewarding financially.

Based on my experiences teaching courses, counseling clients, writing articles and books, and corresponding with friends, family, and people through my website, I’ve discovered how important having healthy and strong personal finances is. With that in mind, I wrote this book to help you begin to lay a strong financial foundation. Your early adult years are the best time to start.

I’ve worked with and taught people from all financial situations, so I know the financial concerns and questions of real folks just like you. Believe it or not, I first became interested in money matters when, as a middle-school student, my father was laid off and received some retirement money. I worked with my dad as he made investing decisions with the money. A couple of years later, I won my high school’s science fair with a project on what influences the stock market.

In my 20s, I worked hard to keep my living expenses low and save money so I could leave my job and pursue my entrepreneurial ideas. I accomplished that goal in my late 20s. My goal in writing this book is to give you lots of tools and information to help you get your personal finances in order so you, too, can achieve your goals and dreams.