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Editor’s note: Currency expert Dave Ramsey is CEO of Ramsey Solutions. He has authored seven best-selling books, including “The Total Money Makeover.” His radio show “The Dave Ramsey Show” is heard every week by more than 16 million listeners on 600 radio stations and multiple digital platforms. Every week he answers a question about personal finances in his column “Dave Says”.
Dear Dave,
What advice do you have for students who want to plan for the future and start building wealth? I’m going to finish my master’s degree in marketing in less than two years, and I’m pretty lucky so far because my parents paid for school. I bring in about $ 2,200 a month to my job, and I have $ 24,000 in savings.
Alex
Dear Alex,
If I were you, I would get the whole marketing thing really well. At this stage of the game, yes are your best investment. You are a go-getter, so just go ahead and get it.
If you continue on this path, and by that I mean work, go to school, and raise cash, you will be able to put that marketing knowledge to work in a great way.
You can use some of the money you have saved to set yourself up in your new life.
What you are doing right now, in your situation, will mathematically give you a better return than a mutual fund.
Do you get what I say?
An education that is useful is more valuable to you at this stage of the game than investing.
Now, when you are done with school and starting to live your life in your new career, good mutual funds for growth share are what I would recommend for retirement. And at that point, if you have an extra $ 30,000 or $ 40,000 sitting there, that’s even better.
Great start, Alex. Well done!
—Dave
