Title: 7 Smart Money Moves to Make in Your 20s | Ellevest
Headings: 7 Smart Money Moves to Make in Your 20s
Magazine
7 Smart Money Moves to Make in Your 20s
By Ellevest Team
1. Figure out your financial flow
2. Get that employer match
3. Pay off high-interest debt
4. Save for emergencies
5. Get renters insurance
6. Get disability insurance
7. Get started investing
Retirement
Other goals
Ellevest Team

Content: Your #1 most valuable asset — especially when you’re just starting out in your career, with many more years of life and work ahead of you — is your earning power. If something happens to keep you from working, disability insurance replaces at least part of your income. There are two types of disability insurance: short-term and long-term. Short-term insurance lasts a few months to a year and usually pays more. Long-term lasts until you’re no longer disabled, a set number of years have passed, or you reach retirement age. It also tends to be the more important type of insurance for most people. That’s because an emergency fund might be able to get you through a short-term disability, but being unable to work for a really long time can thwart even the best-laid financial plans. You can often purchase disability insurance through your employer; if not, see if any other groups you’re a part of (alumni associations, trade groups, etc.)