My To-do list in my 20s
Here are my 5 checkboxes to get ticked before turning 30…
1. Develop multiple streams of income
By the end of your 20s, you should at least have 2 or 3 sources of income which should compensate one another if any of the sources becomes static.
The words mentioned above are not just a line to pass across. It is a hard-hitting fact which ruined many people's lives from peak to rock bottom.
2. Never assume you know everything
After graduating from school, many people think that they have reached the saturation of learning in their life and purely focus on money-making. But it is not how it works.
The golden rule of making money is not about working to make money. It is about learning things and applying them to your work vigorously. This habit will automatically bring money to your pockets.
3. Build an emergency fund
The emergency fund should be at least 4 to 5 times your current salary.
Let's say you’re earning $5K/month on average.
Your emergency fund should be at least $20K — $25K.
The emergency fund shouldn't be disturbed until you’re unable to manage your unexpected expense such as medical expenses.
4. Seed and Feed your Passion
If you’re a person working away from your passion due to your financial struggles or family issues, try to sow a seed to your passion. It is okay to fail rather than regret later for not trying while you were young.
Making money would be fine until you reach a saturation state. But if you’re passionate about your job, it will lead you to wherever you dream to be regardless of your current status. The greatest personalities of the world have succeeded by following their passion than hustling on a 9-5 journey.
5. Take measured risks
Risk-taking seems to be a fearful act for those who are financially unstable, maybe those who are under a single source of income. But taking measures risks won’t let you fall under your level. Discuss the worst-case scenario with yourself and step into the risk.
Mark Zuckerberg famously said: “The biggest risk is not taking any risk. The only strategy that is guaranteed to fail is not taking risks.”
I’ve written all these in a paper and stuck to a place where I often keep my eye. It is none other than my wardrobe. By keeping an eye on it very often, reminds me of my goals and makes me work towards them with enthusiasm.
