Nia – Carson High School

Vote for Nia

In the past, I viewed savings as something that was useless and took too much time. I wanted money but I wanted my money immediately! I was never concerned about saving or investing for a retirement, I was even concerned about getting a job. This was my old perspective on money, and sadly this perspective is one that many young adults in my generation have.

From the financial session I have learned that in order for me to retire comfortably later in life I will need 2.5 million dollars saved. I learned the value of saving over long periods of time and not being so anxious to spend my money in the present. I also learned how to nurture my credit and bow paying my bills on time can benefit me in the long run. I also have gained an aspiration to invest my money to help my money multiply to acquire adequate savings for retirement and my future.

Going forward with this newfound information I believe that there are a few ways that youth can become better savers for the future. First, we must all change the way we view our self-worth. We value material things and we believe that they determine who we are. If we can stop ourselves from consuming excessively we can save for things that are necessary like college tuition or a home of our own. Secondly, as young adults we need to change our mindsets about money. Many young adults feel entitled to having money and material things, without putting in hardwork. We must learn the value of hard work so we can learn to value our money and save it for important endeavors in life.

In order to secure my retirement, within the next 5 years I will build a strong foundation to begin saving my 2.5 million for retirement. I will create this foundation by doing two very important things. First, I will be attending college to receive a degree that will help me enter into a high paying profession when I finish school. If I invest my time, energy, and money into my education right now it will pay exponentially off in the long run. Secondly, while in college I will avoid loans. Although, a loan may be necessary at times I know that if I can’t pay it back in enough time I will gain a substantial amount of debt. So I will work my hardest to find scholarships and grants to help with the cost.  Now that I am aware of how to save my money and avoid debt I feel so much more confident for my future and I believe that I can reach 2.5 million in savings for my retirement. When I used to save my money it would be for something minor like food or a party, but now I save my money knowing I am making a wise investment for my future!