Want to Build Wealth Young? Here’s How This Generation Is Doing It.

https://youtu.be/38M7jwgSBvI

Jim McSorley, a keen digital asset investor, sat down with NuView Trust to discuss how the information age is redefining success.


Out With The Old

Jim noted how the traditional route to success had only one path. 

But now, in the age of technology putting all the information a person needs to succeed right at their fingertips, being a ‘dutiful employee’ is an antiquated practice.

Jim laughed when he said:
It’s no longer this idea that you go and get a good job out of college or whatever, and work for them for 30 years, and they’ll take care of your retirement plan… That is gone. We’re decades away from that at this point.

In With The New

Jim noted the unique presence of social media. He recognized it for the financial educational source that it is for so many young people today, and how it’s being used to “demystify what these things are all about…”

Because it’s not taught in traditional schools, people online have been sharing vital information on financial responsibility.

I think it’s extremely valuable the way young people are learning and getting a financial education by sharing this information with each other… we’re starting to demystify these things, these government forms that you have to fill out. They’re not as complicated as one might have thought.”

Hope For The Future

Jim left a few words of support for the up-and-coming generation of wealth:

“Don’t be intimidated by opening an account and funding it with even a few hundred dollars. It’s such a simple thing to do; just a little bit of paperwork and you’re on your way. And the more you do it, the more acclimated you become.”

In his final words, Jim was hopeful for the future successes of our society’s youth. He was certain of the benefits of financial education being spread online to the young masses: 

“There are some really great lessons to be learned and the sooner they learn them, I think, the more benefit it’s going to bring long term.

At NuView, we want our clients to succeed. We believe that everyone deserves access to financial education and opportunity.

So give us a call at NuView Trust Company and find out how to invest inside of a self-directed retirement account to generate tax-free income and have peace of mind that your assets are safe.

And stay tuned for more continuing education about self-directed IRAs.

If you have any questions, contact us at NuView.

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We love to provide investors the true story of what’s possible inside of an IRA, and possibly inside of a 401k.

See you soon!

Readable Transcript:

“I am increasingly surprised by the financial education that many young people are getting on TikTok.

It’s amazing!

We’re demystifying these things, right? 

It’s no longer this idea that you go and get a good job out of college or whatever, and work for them for 30 years, and they’ll take care of your retirement plan, and you don’t really have to worry.

That is gone. We’re decades away from that at this point. 

So to your point about generational wealth and educating younger people and making it a family effort, I think it’s extremely valuable the way young people are learning and getting a financial education by sharing this information with each other, by getting involved early and being willing to listen.

But most importantly, [with] the sharing of information now on things like TikTok and YouTube and others, we’re starting to demystify these things. They’re not as complicated as one might have thought.

When I was in my twenties,  I barely knew what a tax form [was] ‘A 1040-what?’ And then there’s a 1040EZ? ‘ Okay, let me use that…. Why would I need anything more?’ 

But the faster we can demystify what these things are all about… these government forms that you have to fill out –  it just takes a little bit of practice. They’re not that complicated. 

And the more you do it, the more acclimated you become.

Don’t be intimidated by opening an account and funding it with even a few hundred dollars. It’s such a simple thing to do; just a little bit of paperwork and you’re on your way. 

But the more young people get exposed to these things and the more that they become familiar with the more traditional aspects of creating an account, funding an account, keeping track of those over time.

There are some really great lessons to be learned and the sooner they learn them, I think, the more benefit it’s going to bring long term.”

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