3 things your parents wish they knew at 20

So your starting to make some money on this social media thing.  Your parents don't get why you are constantly dancing around, and have your phone filming it, even if you do make people happy and see it a a potential gig to launch your brand.  What is "your brand" they continue to ask you, and your answer doesn't satisfy their curiosity.  I'm not your parents, but I know the drill.  I'm 36, I have 3 kids under the age of 10, and I understand where you are coming from.  They do too, they were there once, but refuse to remember.  There are a few things they forgot to tell you too, so let me enlighten you:

1. Student loans: You may be thinking "well Joe Biden is going to help my parents out and excuse their loans, so I don't need to worry about taking all this money out for education".  Wrong.  Who knows what going to happen with that whole student loan thing.  If it does happen, doesn't mean it will happen again - you could be stuck in the rat race of paying them off till your 50, like mom and dad.
• Alternatives to students loans:
• Work at your school of choice - they could offer a tuition break (I got half tuition by working at the university I graduated from, saved me a boat load).  the nice thing about working is you get all that experience and a future employer will see your great work ethic (alright, now I'm turning into my parents...) 
• Community College  Having your bachelors is not necessary to make a living nowadays.  If education is on you of your parents "to do" list, chose to start at a community college where tuition is sometimes more than half than what it is at  a university.  Where you get your degree is becoming less important as well.  When you do go to a community college first, then transfer that little associates degree up to that University on the hill and get that bachelors.
• Scholarships: there are more people handing out free money for education for the most random things.  My mom works as a fundraiser for scholarships at a major university in Utah.  There are many semesters they can't find enough students for the amount of scholarships they have - for real.  Stop into your college and ask to talk to the person in charge of scholarships and fundraising, and they'd be happy to help you get set up to grab that extra money that no one is using.

1. Retirement: If you even know what social security is, it isn't going to help you, and most likely won't help their parents.  So, if you get this retirement thing started in your 20's, or even your teens, you could easily double or triple what your parents have now, and live the nice life in your 60's.  Opening a Roth is super easy - I show you how to do it here.  Start NOW even if you are in your 30's, then go tell your younger siblings to do it too.  See why:
• 15 years old: 
• $1,000 initial investment, and $16 a month =  1 MILLION $$ by age 65.  
• 20 years old:
• $1,000 initial investment and $37 a month = 1 MILLION $$ by age 65.
• 25 years old: 
• $1,000 initial investment and $75 a month = 1 MILLION $$ by age 65.  You can afford this, being more established and all.  Now go tell all those 15 year olds to get their money working for them.
• 30 years old:
• $1,000 initial investment and $145 a month = 1 MILLION $$ by age 65.  Yup, 15 years of not investing will cost you.  but not as much as in your 40's.  Get started NOW!
2. Investing*: Get started now, make some great choices, and you can make money off of your money.  Then go teach your parents who are too scared to let go of their green stuff.
• Real Estate: buy a house or a condo and charge your friends rent to live there.  They'll pay your mortgage so you can save for the next project.
• Stock Market:  The stock market is not just for retirement.  It's like gabling, but it's legal.  Sounds daunting, but I promise if you get your foot in the game right now (aka study it out, make some good choices), you could be the next Warren Buffet (old millionaire who made his fortune by investing starting at 11).  It is really simple - get yourself educated and throw your hat into the ring.
• Business: weather it is your own, or someone else's, this is a fun way to see your money grow.  There are lots of opportunities out there.  Make sure you do you do your homework about the company, brand or startup before you hand over your lunch money.

There are so many other options, but these should keep you busy for awhile.  There is always the risk of losing your money, but that's what can separate you from your friend, and even your parents.  The higher the risk, the greater the reward.  Best of luck.

*Investments include risk of loss.  This website includes opinion only and should not taken as professional investment advice.  These recommendations do not guarantee any specific outcome or profit.