how i spent a quarter million dollars i made from internships in college

@umxe

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The video offers valuable financial advice, particularly on investing and saving, presented in a relatable and personal way. The creator's experience of earning a significant amount from internships and wisely managing it resonates with viewers interested in personal finance and career development.

Summary

The creator shares how they spent a quarter million dollars earned from internships in college. They emphasize investing early, particularly by maxing out a Roth IRA annually and investing in stocks, which they claim yielded significant returns. They also highlight the importance of travel and experiencing different cultures for personal growth and perspective.

Structure

1Introduction: Earning and spending a quarter million from internships
2Prioritizing investing: Maxing out Roth IRA
3Value of travel and cultural experiences
4Investing in stocks for financial growth
5Building saving habits with index funds

Product placement

The creator discusses maxing out their Roth IRA and investing in stocks, which are financial products. They also mention index funds as an investment strategy.

On-screen text

how i spent a quarter million dollars i made from internships in college i made just under a quarter million through internships when i was in college and this is everything that i did to make sure that i wouldn't go broke as when you're given this much money as a 20 something year old of course first you wanna spend it but i'm the big sister that's gonna tell you this is the time where your money can compound the most so you must put your money where your money to work for and you no longer have to work for your money i made sure to max out my Roth IRA every single year the sooner you start maxing out your the more millions you're gonna have and it's only six to seven thousand dollars a year to max it out and as a software engineering intern it's probably a quarter or a third of what you're making anyway so it's not gonna break the bank i also traveled i think experiencing culture when you're young is so important because that's when your brain is still a malleable exposing yourself to other cultures other countries other people really shifts your world and mine definitely did i think it really shaped me as a person and helped me navigate a lot of the spaces that i navigate now i also spent a lot of my money on bus tickets plane tickets hotels etcetera for work this is before things were starting to be paid for me i used to spend a lot of my own own earned money because i saw it as an investment and i knew that it would pay off and then the last thing that i'm gonna mention today is investing in long term or short term stocks i kid you not i made $20,000 because i made an investment in that ended up doing really well and i didn't think twice about it you don't have to play with your money quite like that definitely look to invest in index funds right now especially because the market is down and everything is really cheap it's all about building habits even if you put in $10 $20 $50 that's better than nothing and then if you build the habit every time you have extra money in your bank account or you get paid you're gonna wanna just invest be smart with your money make sure to spend it but also make sure to save it

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talking moneyyyy today 💸💸💸 • • • #PersonalFinance #rothira #techtok #sweintern #fypシ

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Transcript

I made just under a quarter million dollars through internships when I was in college and this is everything that I did to make sure that I wouldn't go broke as a new grad. When you're given this much money as a 20 something year old, of course first you wanna spend it. But I'm the big sister that's gonna tell you this is the time where your money can compound the most. So you must put your money where your money is going to work for you and you no longer have to work for your money. I made sure to max out my Roth IRA every single year. The sooner you start maxing out your Roth IRA, the more millions you're gonna have. And it's only six to seven thousand dollars a year to max it out. And as a software engineering intern, it's probably a quarter or a third of what you're making anyway. So it's not gonna break the bank. I also traveled. I think experiencing culture when you're young is so important because that's when your brain is still a little bit more malleable. Exposing yourself to other cultures, other countries, other people really shifts your world and mine definitely did. I think it really shaped me as a person and helped me navigate a lot of the spaces that I navigate now. I also spent a lot of my money on bus tickets, plane tickets, hotels, etcetera for work. This is before things were starting to be paid for me. I used to spend a lot of my own own earned money because I saw it as an investment and I knew that it would pay off and then the last thing that I'm gonna mention today is investing in long term or short term stocks. I kid you not. I made $20,000 because I made an investment in a stock that ended up doing really well and I didn't think twice about it. Of course, you don't have to play with your money quite like that. Definitely look to invest in index funds right now, especially because the market is down and everything is really cheap. It's all about building habits. Even if you put in $10, $20, $50, that's better than nothing. And then if you build the habit, every time you have extra money in your bank account or you get paid, you're gonna want to just invest it. Be smart with your money, make sure to spend it, but also make sure to save it.