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What financial advice would you give an 18-year old today?
Posted on 1/5/16 at 1:33 pm
Posted on 1/5/16 at 1:33 pm
Mine - time value of money is king and never put $ career over happiness career (assuming you can make a reasonable living at it).
18
Posted on 1/5/16 at 1:36 pm to BayouSizzle
A dollar saved or invested at age 18 is invaluable at age 50.
Posted on 1/5/16 at 1:36 pm to BayouSizzle
Start saving for retirement now.
Posted on 1/5/16 at 1:42 pm to BayouSizzle
Bought sex is still sex.
Posted on 1/5/16 at 1:43 pm to BayouSizzle
Sure, we all wish we started saving for retirement earlier. But I'd also tell my 18 year old self to GO. Don't worry about traveling "fancy", but experience as much of the world as possible. At that age, I spent money on stuff/things when I should have been spending on experiences.
Posted on 1/5/16 at 1:48 pm to BayouSizzle
quote:
What financial advice would you give an 18-year old today?
Travel
If you want a traditional 4 year degree, get it in a solid field(finance, engineering, accounting, science, etc.), you can always do something else unrelated after school if you want
Make yourself more interesting and well rounded
Get used to being out of your comfort zone, it will be wildly useful as you get older
Don't wait to do something you want to do, you are probably just making excuses.
Posted on 1/5/16 at 1:54 pm to BayouSizzle
Travel. There is nothing more valuable in life. It will open your eyes and pop your bubble.
This post was edited on 1/5/16 at 1:55 pm
Posted on 1/5/16 at 1:55 pm to BayouSizzle
$1 per day compounded for 50 years has effects. Read the backtesting. I read about a guy who invested $1/day until the kid graduated from college and through re-investing dividends the portfolio grew to $1 mil by the time the kid was 40.
Posted on 1/5/16 at 2:32 pm to BayouSizzle
quote:
time value of money is king
Same. Discover the miracle of compounding interest as early as possible.
Posted on 1/5/16 at 3:02 pm to BayouSizzle
Don't skack off in school. Don't take out loans. Ignore what every other is doing with their student loan money because its stupifm
Posted on 1/5/16 at 3:49 pm to BayouSizzle
If they're going to college and thinking about taking out student loans, I would make sure they understand the difference between subsidized and unsubsidized loans, as well as the basics of daily compounding interest.
Posted on 1/5/16 at 7:25 pm to BayouSizzle
If you look at the clock and are wondering why it's only 2:30 and can't you leave already, then you're probably in the wrong occupation.
But never forget to look after money. The old advice about doing what you love is important - but only if it pays well. If you love "working with people" and work for $25K a year as a social worker you will be bitter before long. You can satisfy just about any itch you have more profitably than you imagine.
But never forget to look after money. The old advice about doing what you love is important - but only if it pays well. If you love "working with people" and work for $25K a year as a social worker you will be bitter before long. You can satisfy just about any itch you have more profitably than you imagine.
Posted on 1/5/16 at 8:33 pm to BayouSizzle
Invest in gun manufacture stocks
Posted on 1/6/16 at 8:06 am to BayouSizzle
Save
Your
Freakin
Money.
Your
Freakin
Money.
Posted on 1/6/16 at 11:15 am to BayouSizzle
Posted on 1/6/16 at 9:42 pm to BayouSizzle
Max 401K every year
Max Roth every year
Put money away in an HSA while young
Don't get married too quickly but have kids - my kids changed my life - made me a better person
Try to work out every other day and stay in shape - and get an annual physical
Max Roth every year
Put money away in an HSA while young
Don't get married too quickly but have kids - my kids changed my life - made me a better person
Try to work out every other day and stay in shape - and get an annual physical
Posted on 1/7/16 at 2:53 pm to BayouSizzle
Don't go to college beyond the required degree. No grad school. Find your niche/trade and start working.
Posted on 1/7/16 at 8:51 pm to BayouSizzle
Sticking to the topic of financial advice, I would say invest in yourself and boost your income as quickly as possible. It's all fine and good to save money but it's hard to do it right on a limited budget.
Most people's savings problems are really income problems.
Most people's savings problems are really income problems.
Posted on 1/8/16 at 9:25 am to BayouSizzle
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