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re: For people on this board under 30
Posted on 1/16/24 at 9:04 am to SneezyBeltranIsHere
Posted on 1/16/24 at 9:04 am to SneezyBeltranIsHere
quote:
Also, NEVER have debt. No credit card debt you can't pay off every month. Never have a car payment. Save and buy your home in cash.
Dumbest advice ever
Outside the cc
0
Posted on 1/16/24 at 9:05 am to SneezyBeltranIsHere
quote:
A MINIMUM of 6 full days a week, every week. No exceptions. Many weeks, you will need to work 7 full days. No one ever tells you this is necessary. It is necessary. Send your family on vacation. You need to stay home and work.
Yeah, you can frick right off.
Posted on 1/16/24 at 9:05 am to BluegrassBelle
It appears the D’hará Crystal that normally blocks trolls from the SEC Rant from invading the OT is failing!
We must assemble a team of adventurers to undertake a quest to replace it!
We must assemble a team of adventurers to undertake a quest to replace it!
Posted on 1/16/24 at 9:06 am to SneezyBeltranIsHere
I am in your category 2 from job role and compensation.
I also do not work 6 days a week and take multiple vacations each year.
Your advice is not bad overall, aside from never carrying debt. (Debt is a tool to financial freedom, especially if you are starting a business. This advice is counter intuitive). but do not sacrifice your home life for your career. No one on their death bed is happy they worked more and spent less time with family. Relationships are just as important as your career.
Also, buying real estate as opposed to funding a retirement account is horrible advice. Max your 401k out, kids. Buy real estate if you can, but not taking advantage of a company offer 401k is absolutely horrible financial advice. Especially if there is a match. It’s free money.
I also do not work 6 days a week and take multiple vacations each year.
Your advice is not bad overall, aside from never carrying debt. (Debt is a tool to financial freedom, especially if you are starting a business. This advice is counter intuitive). but do not sacrifice your home life for your career. No one on their death bed is happy they worked more and spent less time with family. Relationships are just as important as your career.
Also, buying real estate as opposed to funding a retirement account is horrible advice. Max your 401k out, kids. Buy real estate if you can, but not taking advantage of a company offer 401k is absolutely horrible financial advice. Especially if there is a match. It’s free money.
This post was edited on 1/16/24 at 9:10 am
Posted on 1/16/24 at 9:11 am to SneezyBeltranIsHere
quote:
I am willing to take all of the bullets in this thread if one person in their 20s or 30s benefits from it.
I’m under 30, and let me tell you this is some stupid fricking advice
Posted on 1/16/24 at 9:11 am to SneezyBeltranIsHere
A lot of terrible advice in this post. But it makes sense coming from a UT guy. Typical entitled douchebag.
Posted on 1/16/24 at 9:12 am to SneezyBeltranIsHere
quote:
Also, you need to work your arse off. A MINIMUM of 6 full days a week, every week. No exceptions. Many weeks, you will need to work 7 full days. No one ever tells you this is necessary. It is necessary. Send your family on vacation. You need to stay home and work.
For poors maybe
Posted on 1/16/24 at 9:13 am to SneezyBeltranIsHere
Most of your post is total crap and you clearly do not understand money
This is the only redeeming part of your post.
quote:
NEVER have debt. No credit card debt you can't pay off every month. Never have a car payment. Save and buy your home in cash.
This is the only redeeming part of your post.
Posted on 1/16/24 at 9:15 am to SneezyBeltranIsHere
I’m in my mid 20s, I know nothing, yet I feel like I could give better life advice than you boomer.
Posted on 1/16/24 at 9:15 am to SneezyBeltranIsHere
Everyone is so much better off for your unsolicited advice.
Posted on 1/16/24 at 9:15 am to SneezyBeltranIsHere
LOL okay boomer.
Posted on 1/16/24 at 9:18 am to cas4t
Re: real estate vs 401k
At least employer match. You can use the rest for a self managed IRA that can acquire real estate.
At least employer match. You can use the rest for a self managed IRA that can acquire real estate.
Posted on 1/16/24 at 9:19 am to SneezyBeltranIsHere
Let me tell you kids what to actually do.
Find the smallest house in a modest neighborhood, preferably out of date style-wise, but in good shape. Take out a loan and buy it. Get on youtube and learn how to remodel it. Live there for two years and then sell. Rinse repeat. Eventually you will flip them quicker and not worry about the tax implications because you are doing multiple.
Or, sit in a cubicle and complain about boomers. I don't care.
Find the smallest house in a modest neighborhood, preferably out of date style-wise, but in good shape. Take out a loan and buy it. Get on youtube and learn how to remodel it. Live there for two years and then sell. Rinse repeat. Eventually you will flip them quicker and not worry about the tax implications because you are doing multiple.
Or, sit in a cubicle and complain about boomers. I don't care.
Posted on 1/16/24 at 9:21 am to MyRockstarComplex
quote:His first condition was to be self-employed.
Re: real estate vs 401k
At least employer match. You can use the rest for a self managed IRA that can acquire real estate.
Try to keep up or we’ll start referring to you and him together.
Posted on 1/16/24 at 9:25 am to SneezyBeltranIsHere
Many of us who are older had to learn life lessons the hard way. When given advice by our parents and grandparents, many of us said that they didn't understand how times had changed and that things were different for us. I think the same applies to younger people now.
Posted on 1/16/24 at 9:30 am to SneezyBeltranIsHere
Don't take your health for granted. I was diagnosed with cancer in my early 20s and it has altered the rest of my life path. I'm now 33. Work and money isn't everything. If you are working 6-7 days a week, you don't have any free time to do anything with it anyway.
It's okay to find your spouse and start a family. Family is more rewarding than a career can ever be.
It's okay to find your spouse and start a family. Family is more rewarding than a career can ever be.
Posted on 1/16/24 at 9:34 am to SneezyBeltranIsHere
quote:
Also, you need to work your arse off. A MINIMUM of 6 full days a week, every week. No exceptions. Many weeks, you will need to work 7 full days. No one ever tells you this is necessary. It is necessary. Send your family on vacation. You need to stay home and work.
I'm in my 50s and this is the saddest thing I have ever read. I feel for this guy.
Posted on 1/16/24 at 9:35 am to Pauvetibete
quote:
Buying a home for 200k which is now "starter" home prices
$200k buys you a shack in the hood if you aren't lucky enough to be in Yazoo County Mississippi or Waterproof, Louisiana
Posted on 1/16/24 at 9:36 am to Bluefin
quote:
Bluefin
This post was edited on 1/16/24 at 9:38 am
Posted on 1/16/24 at 9:38 am to SneezyBeltranIsHere
quote:
Never have a car payment. Save and buy your home in cash.
Good advice until you said this. Terrible way to use your liquid assets.
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