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re: Accepted my first big job today
Posted on 3/22/23 at 8:56 pm to MasterAbe1
Posted on 3/22/23 at 8:56 pm to MasterAbe1
First, $5,000 in cash (in hand, not in the bank) for an emergency. Second, make sure you're properly stocked on firearms, mags, and ammo. The bare minimum is 1 service grade rifle (AR or AK), 10 mags, and 1,000 rounds+1 service grade pistol (Sig, Glock, CZ, HK, etc.) with 6 mags and 300 rounds of premium defense ammo. Once those are covered, max out a Roth IRA every year (currently $6,500/year). If there's any money left over, pick up a little physical gold and silver when the budget allows. Also, don't invest heavily in depreciating assets. Drive a 10-15 year old F-150 with liability-only insurance instead of a new King Ranch F-250 with truck nuts, 84-month loan, and $200/month insurance.
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Posted on 3/22/23 at 8:57 pm to MasterAbe1
quote:
Baws, what is good advice on how to handle investing now with more income coming in? I’ll have a 401k but want to find other ways to help money grow.
Roth IRA
Posted on 3/22/23 at 9:00 pm to Gee Grenouille
quote:
For the love of all things holy don't indebt yourself one more penny than you have to. A long term mortgage can be debilitating.
Huh? Are you suggesting he saves his money and buys his first house with cash?
Posted on 3/22/23 at 9:01 pm to MasterAbe1
Posted on 3/22/23 at 9:05 pm to Chucktown_Badger
quote:
Roth IRA
That's a non-answer. Should he put it all in lithium? XOM? T-Bonds? I'm trying to give you grace (alright, grace is gone already) and assume that you know some context you're not telling this dude, but you're not helping.
Include the context, or pipe down until the afternoon margs have worn off. People his age will take stuff as gospel and miss the context you may know, but he doesn't. Either compose a reasonable response that is well thought out, or direct him to the money board. It's fine to respond to Rant or recruiting threads from a phone with throwaway lines, but talking to someone starting their professional career and talking about long term investments is not the time to be flippant.
Posted on 3/22/23 at 9:10 pm to MasterAbe1
If you're in tech, look at the requirements for a top secret security clearance and make sure that you live your life able to meet them (steer clear of the devil's lettuce and whores, pay your bills and taxes, and don't shite on America). Go to work for a government contractor and you'll be set for life.
Posted on 3/22/23 at 9:10 pm to LemmyLives
Live for today. Do what you want, when you want. Buy everything that makes you happy. Don’t worry about the future. Live for today. Realize that no matter what you do to prepare, chances are, you will be working until you die regardless.
Posted on 3/22/23 at 9:32 pm to MasterAbe1
75% should go into nfts
Posted on 3/22/23 at 9:34 pm to MasterAbe1
time to buy your first top trim pickup with nutz baw!
Posted on 3/22/23 at 9:35 pm to MasterAbe1
Mom used to call pooping "The Big Job" when I was training.
Posted on 3/22/23 at 9:47 pm to MasterAbe1
That lovely looking marriage, truck, home, hobby, habit and past time can wait!
Posted on 3/22/23 at 9:51 pm to MasterAbe1
I highly suggest reading THE RICHEST MAN IN BABYLON if you haven't already.
Posted on 3/22/23 at 10:04 pm to MasterAbe1
Keeping your monthly “nut” low is the key to long term stability. Housing and transportation especially. Try to l keep fixed expenses (including food) under 50% of income. Save 25%, do what you want with other 25%. Might not be possible right now, but work towards that and you will never want for anything.
Posted on 3/22/23 at 10:06 pm to MasterAbe1
Congrats on your new job. As far as investing goes, I’ll give the same advice I got when I was starting out…contribute to your 401K. Dollar cost average into a couple of high performing index funds and in your 401K and let it ride for the next 40 years. Do this and there is no reason you shouldn’t have a couple of million buck in there when you get ready to retire.
Also, if your company has a high deductible insurance plan and an HSA, opt for both, unless you have a wife and/or kids that enjoy the doctor’s office.
Finally, if you want to invest in some stocks, find something that pays a steady dividend and reinvest the dividends. Those aren’t flashy, but they will make a literal fortune over a lifetime.
Also, if your company has a high deductible insurance plan and an HSA, opt for both, unless you have a wife and/or kids that enjoy the doctor’s office.
Finally, if you want to invest in some stocks, find something that pays a steady dividend and reinvest the dividends. Those aren’t flashy, but they will make a literal fortune over a lifetime.
Posted on 3/22/23 at 10:55 pm to MasterAbe1
Bro.
Just save up your money.
Contribute to their 401k. Max it out if you can.
Tech layoffs are not uncommon so just save up and watch your back.
I wouldn’t invest in anything else until I had at least $85k in the bank and maxing out my 401k.
Just save up your money.
Contribute to their 401k. Max it out if you can.
Tech layoffs are not uncommon so just save up and watch your back.
I wouldn’t invest in anything else until I had at least $85k in the bank and maxing out my 401k.
Posted on 3/22/23 at 11:36 pm to MasterAbe1
Dump all money in crypto that influencers promote.
Posted on 3/23/23 at 5:33 am to MasterAbe1
Many years ago I took a job right out of school in Houston, didn't know a sole in the city.
Just packed my shite and lit out from small town North La, glad I did it.
Just packed my shite and lit out from small town North La, glad I did it.
Posted on 3/23/23 at 5:37 am to MasterAbe1
$6K into a roth IRA every year should be your first move. If you forget to contribute you have until tax day the following year to do it.
This post was edited on 3/23/23 at 5:38 am
Posted on 3/23/23 at 6:05 am to fightin tigers
quote:
7:09 - Accepted my first big job today
quote:
7:10 - Texas Roadhouse is lucky to have you
It’s why this is the best place on the internet.
Posted on 3/23/23 at 6:41 am to MasterAbe1
Congrats. Always live below your means and don’t forget to be thankful.
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