Jason Hartman Foundation

There is no better time to take risks – especially when it comes to making career choices – than when you are young. Author and entrepreneur Roberts Tuchman knows what it takes to break free of a frustrating job and build a career on your own terms. In his recent authored work, Young Guns, he shows you how to start out on a business venture, how to gain a client base, how to keep those clients, and what you need to sacrifice along the way in order to succeed. For those young, aspiring entrepreneurs, listen in at: http://youngwealthshow.com/articles/young-wealth-show/

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Listen in as Jason interviews Jon Swartz about successful teens.

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Winning the investment game is not for the faint of heart but it is critical to realize early on the necessity of embracing the idea that you MUST invest in some way in order to build wealth. Choose the stock market (probably your worst option), start a small business, or invest in real estate (your best choice to succeed). When it comes to investing, the water is murky and current strong, and we don’t want you to get eaten by the first shark that swims your way.

To succeed, you’ve got to stay alive, financially speaking of course. Before you sink your first dollar into an investment, consider the following three factors that have derailed many a young investor career. Watch out for these sharks and maybe you’ll stay alive long enough to actually make some money.

1.Transaction costs – it’s easy to overlook these when perusing a mutual fund prospectus or calling your broker and telling him to “Sell, sell, sell!” or “Buy, buy, buy!” Pay attention to the transaction costs. If it’s too much, go somewhere else. If all your profit is being eaten up by the broker’s cut, find another broker.

2.Your broker is a crook – sad but true. The stories are out there…Enron…Bernie Madoff. Stay alert for crooks in the financial business because they will always be there. Don’t be the next poor sap to see his nest egg disappear in a poof of chicanery.

3.Your broker is incompetent – crooked dealing isn’t the only way to lose money. Your broker could be straight as an arrow but simply not cut out for the job. Maybe he’s in the wrong field. Maybe he doesn’t have the IQ for the gig. The lesson is don’t trust your future to an obvious incompetent.

While we can’t give you an entire financial education in one blog, keep your eyes open for these three pitfalls and your chances for success just increased astronomically.

The Young Wealth Team

Flickr / rednuht

On this show, Jason talks with one of his listeners, Damien Bourke, about the challenges of growing up in today’s economy.

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Jason interviews, Lesley Scorgie, the author of Rich by Thirty: A Young Adult’s Guide To Financial Success, a national bestselling personal finance book geared towards young people.  Listen at: http://www.jasonhartmanfoundation.org/articles/young-wealth-show/.  When Lesley was only 17 she was a guest on the Oprah Winfrey Show where she discussed financial strategies for young people and revealed her goal of becoming rich by thirty.  Money is important because it builds a path to freedom. Without it, your choices can be limited. With it, you can pursue your dreams. Wealth is no longer just about money. It is about freedom. The sooner you start making money work for you, the more financial freedom you’ll have.

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On this episode, you’ll hear the eleven commandments of financial success. Visit: http://www.youngwealth.com.

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Listen in as Jason talks with credit expert Danny Rosario on how to start building your credit. Visit: http://www.youngwealth.com

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Listen in as Jason interviews financial planner Jim Lowell on The Young Wealth Show. Visit http://www.jasonhartmanfoundation.org

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