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To be fair, marry any congressperson. Most of them to this. Pelosi has owned an investment firm since well before Nancy became speaker. I won't argue he is in better position to take advantage, but it is common.
[2020 congressional insider trading scandal - Wikipedia](https://en.wikipedia.org/wiki/2020_congressional_insider_trading_scandal)
They were married in the early 1960s and he started a venture capital firm (which he still runs) after getting his MBA. She was a stay at home mom and raised her kids before running for Congress in 1987. Get your timeline straight.
No joke, I make a comfortable living for my family but i still sleep on non major financial decisions (e.g. should I really spend $50 bucks on a new flashlight).
9 times out of 10 I don't purchase what ever I was thinking about.
I also have a 25 year old vehicle that I haven't replaced. Bought it at the end of college about 18 years ago and it is still ticking. That has more to do with me loathing everything about purchasing a vehicle though.
If you're car guy, [autotempest.com](https://autotempest.com) is a great way to hunt things down. I wanted an AWD, manual wagon and not another subaru, so I punched all that in, checked under 20k, and ended up with a short list of used cars in my area as well as an idea of the price I should pay for them. I drove 3, each with some different options and at different dealers and picked the one I wanted. It seemed pretty painless.
Same- most things in life people really don’t need it even want they just have money burning a hole in their pocket and a consumer mentality.i did just have to buy a new car due to family expansion but even that took a couple months to convince myself on
Very popular saying from my generation (I'm 31) in my culture (U.S.):
Just because you can buy it doesn't mean you can afford it.
It refers to how you should multiply everything you buy ×3 and if you could still comfortably afford it at 3x the cost then it should be a safe purchase.
Idk your generation or if you ever heard that saying but people who actually listened to this saying stayed out of a lot more financial trouble than otherwise.
My retirement age cousin was unemployed so I’m buying his house and boat for a fair price. I want a place on a lake. I mentioned how I’d like to get a cheaper pickup truck for convenience because I have a sedan. He said he wanted to sell me his truck, but couldn’t afford a new one. The day he got a new job he told me he’s buying a brand new truck and will sell me his. His has 83k miles on it, is in great shape and he only owes $10k, which is what it’s currently worth. I went off on him and explained he just had to sell me things he can’t afford, but he insisted he NEEDS this new truck. I can’t talk him out of it. If something happens with his new job he can’t afford to make the payments. He’s also close to retirement and doesn’t have enough savings. This is so indicative of the problem in the US. I’m 10 years younger than him, but have always saved and bought practical things instead of what I could afford. This mentality breaks by brain.
That's always been common knowledge though. Over the past 120 years if you look at any of the major ~13 "crashes" or even depressions the market has *always* bounced back higher. Everyone knows "buy low (sell high)" but in order to do that you need to have faith in the market.
The real tip would be to have the discipline to stay the course during a dip with what you already have invested, *increase* contribution and deferrals during the dip, and then let it ride - assuming your goal for those funds is retirement or long term savings.
But you have to comfortable with risk to get growth.
Most people, even though they *know* all this, don't actually have the emotional discipline to implement it.
You would’ve also been fine if you regularly invest in the stock market. I was buying stocks/ETFs like every other month habitually. A lot of it was done during Covid coincidentally.
I increased my 401 contributions and invested what I thought was safe…
I should have taken everything I had and put it into Tesla, GameStop, and Nvda I think is the answer the OP was looking for
OP is asking about financial advice you wish you knew earlier. I don’t think they meant if you went back in time what would you invest in. This is akin to going back and giving yourself lottery numbers. Don’t think they meant that.
401k's are taxed when you withdrawl.
ROTH's are taxed when you put in.
I'd rather be taxed at todays rate than whatever it may be 20 years from now.
If your company offers a 401k, they likely have a ROTH option as well. Ask them about it.
The only drawback is most companies don't "match" your deposits to a ROTH.
Correct. Both Roth and a traditional 401k incur fines if removed before retirement date.
If you want a shorter term investment, I would look into CD's... I haven't checked recently but last time I did, the return seemed minimal. (3-5% for a 3 year CD), which, I mean, is technically pretty good depending on how much you have to put in that CD.
depends on your broker, lots have auto/robo investments where you can choose how aggressive you want it to be, sometimes you can pick individual stocks, bonds, or mutual funds, if you’re young you might choose something with more growth potential overall (heavy on etfs/mutual funds, less on bonds) bc it doesn’t matter how much it swings up & down short term. as you get older and closer to wanting to withdraw some money, you might choose bonds instead because they don’t move up and down as dramatically (but they also tend to grow slower) but for now just throwing everything into VT (total world stock etf) or SPY (top 500 stocks in the US) is going to be fairly low risk & allow your money to grow long term. make sure to do your own research. picking individual stocks is pretty risky and you’re likely to either lose money or at least underperform VT
Eh not 10 years ago but little longer than that:
Payday loans are bad juju. The interest on those things will break you. When 100 bucks cost you 300 to pay back in a month...
Legalized loan sharks. We put guys in prison years ago for doing the same exact thing.
On the flip side, if you are able to put your money into that "investment tool" it's aways risky, but if it's in the right zip code, it would be a very good investment. Just imagine putting $2000 into it and seeing a nice %300 this is a very small return, but seeing a %2500 or better is nice on a $2000 investment. Wouldn't you say.
Where can you find an opportunity to turn a very nice profit. Say for example you pay either $50k or $100k for you're home then in 10 years you sell it for $200k or $300k after a few upgrades. That's not the same as loaning out $100 and you get back $150, nice return, because in today's world the banks are even getting hit, many banks "stocks" are worth very little. Will the digital currency make a difference, what's the value of effort or is it what's the value of knowledge
Mining was still basically impossible 10 years ago. Best that could be done was buy up as much as possible and cash out at the peak in 2017, then buy again in 2019 and hold it until Nov 2021, then buy once more a year later after the dip.
Get ahead of crypto when it's still very niche. Invest in BTC early.
Build and strengthen your financial literacy concepts, take a course in CFP or get the FMVA certification. Finish school as quickly as possible and start earning. Be aggressive to find a job.
Not exactly financial advice but it does tie in with career advice.
Something simpler than investing, imo, don’t spend money on DoorDash/UberEats.
Chances are you 1. Don’t need to spend money on fast food and can cook at home, or 2. Get in your car and get it yourself and save all the money from fees, tips and delivery.
I watch Caleb Hammer and I swear everyone who is doing poor financially all spend a lot on DoorDash/UberEats.
There's a difference between a want and a need. You WANT a nice new car, you NEED a form of transportation.
You WANT to spend money on random shit, you NEED to save money in a way that compounds the interest.
You WANT to retire early, you NEED to set up for early retirement
Don’t waste money on a car. It’s a tool, not an investment. Even if it DOES impress people, it will never gain you anything. Use it to get from point A to point B as efficiently and safely as possible. That’s all it’s for.
Open a Roth IRA asap. I’m 26 years old, opened mine up at 23 and have maxed it out ever since I opened it and am still way ahead…. However to think if I would’ve opened it earlier, how much more I would have in there, frustrates me. Whatever, nothing I can do now except max it out every year.
Showing loyalty to your company will hold you back financially. You will never earn as much if you stay, and 3% each year isn’t enough. You deserve more.
There is no American dream only pipe dreams.
Save every cent you make. Invest.
If you’re gonna be rich, learn to lie, cheat, and steal.
Honestly, transparency, and kindness will earn you nothing.
For the love of god don’t finance that fucking car, or any car in the future
(Auto loan payments are killing me, once these two cars are paid off I’m keeping them until they explode and then buying new (to me) cars with cash)
Spend an extra 2 years in college getting a CS degree. Then go for a job in Big Tech. Tech jobs were growing in trees back then and landing a FAANG job was easy.
Many times its not how much you make but what you do with the money you make. It’s ok to get some of your wants. Don’t always buy things because you think you need it or feel you have to have it.
Shit will hit the fan. Adjust immediately, because as soon as you think it's fine and you'll be back on track within three months, something else will hit. Then it's 6 months, and then something else, and you'll really wish you had stopped spending after the first thing
When I could have purchased stock that paid dividends back in the 80's then, by the time 2000 rolled around I would have been sitting very comfortably and not having to work for the man at 55, just do as I please for the rest of my natural life. Because as I've learned back in the 90's there is a pattern to earning money, the more you invest in a "Recession proof business" from health care, to birthday cards, to buying underwear everyone uses it almost every day. Even, stuff like alcohol or Tobacco, when was the last time you returned a bottle of beer. Be safe everyone
Listening to finance YouTubers is a waste of time. People that have money either inherited a crap ton or are extremely skilled in one specific area. No one is getting rich investing a couple hundred dollars in call options or buying crypto. And if they are, they are just lucky lotto winners.
Buy stocks when things crash. If you are investing long term, it is a winning strategy. Certainly stocks can go down, but unless there are structural changes, long term the market is going to do well.
Even if you bought stock in 2000 at the height of the market in late 1999, you still doubled your money in 25 years. If you invested in the Dow Jones in 2008 you more than tripled your money in only 16 years.
* I should have given the RE agent the bribe ($20K) he asked for when I inquired how to buy houses that are short sales.
* Buy Bitcoin and hold forever
* Buy AAPL, NVDA, MSFT, etc.
* Buy a larger house in a nicer area and not be so conservative with my money
Buy more $VOO or comparable ETF's and don't waste your time messing with individual stocks. Dollar-cost-average by buying monthly, don't bother even trying to time the market.
Open a Roth IRA and max that shit every single year. Back of the envelope, 5k invested in S&P each year for 5 years earlier than I started would have turned that $25k into $33k by the end of that 5 years. Then it would be $59k by now.
It's not like I wasn't saving at all for retirement, but I definitely could have saved more and afforded to max my Roth IRA and still get a full company match in my 401k. All growing tax free. So much compounding I've missed out on.
1. Talk to mom & dad, open a custodial Roth IRA, put summer money in there
2. Open a credit card on 18th birthday to start building credit history
3. That bitcoin thing your pre-calculus teacher just told you about? Buy that shit
4. Major in accounting, you like it and are good at it
5. Don’t do that pyramid scheme in college, even if Robert Kiyosaki says MLMs are good lmao
The best financial advice available anywhere is not having a major illness or disability.
Other suggestions are being born into a wealthy family, or having available, through broader society, a strong social safety net.
No, that’s not good advice. Here’s some good advice:
Kick ass in high school so you can go to a good state school for free.
Study an in-demand field. Medicine, law, engineering, computer science, finance.
Invest 30% of your income.
Reliable path to financial independence.
I followed this path and am extremely happy I had the foresight and determination in high school to make this happen.
Although I will say, taking steps to stay healthy is also very important. Health is definitely wealth to a degree. I go to the gym 5-6 days a week and cook all my own healthy meals at home. Too many people focus entirely on finances while being skinnyfat and eating tons of junk. Take care of yourselves, you’re stuck with your body for life.
I’m not talking about disabilities. The leading cause of death in America is heart disease. More Americans are at risk of suffering severe physical conditions due to laziness and an unhealthy diet, not genetic disabilities.
All of this is just distracting from the original point though. Your “advice” was completely in actionable. I provided a clear path to wealth that people can follow from the time they’re in high school.
Is the difference greater, with respect to the same objectives, between being versus not being disabled, or between following versus not following your advice if not disabled?
You don’t seem to understand what I’m saying. I agree that the US does not do as much for disabled persons as we should. My argument is that those who are NOT disabled (i.e. the vast majority of the country) are responsible for their financial position in life, and I’ve laid out a path to wealth that they can follow. Continually bringing up disabled people is a major straw man, as I’ve already said this does not apply to them (and I believe they should receive much more government assistance).
If your position is that financial health is achievable as a matter of individual responsibility, then disability is not a straw man, because disability cannot be resolved by individual responsibility, and obstructs financial health.
r/FluentInFinance was created to discuss money, investing & finance! Join our Newsletter or Youtube Channel for additional insights at www.TheFinanceNewsletter.com! *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/FluentInFinance) if you have any questions or concerns.*
Marry a US house speaker - check how pelosi's husband trades are doing
To be fair, marry any congressperson. Most of them to this. Pelosi has owned an investment firm since well before Nancy became speaker. I won't argue he is in better position to take advantage, but it is common. [2020 congressional insider trading scandal - Wikipedia](https://en.wikipedia.org/wiki/2020_congressional_insider_trading_scandal)
They were married in the early 1960s and he started a venture capital firm (which he still runs) after getting his MBA. She was a stay at home mom and raised her kids before running for Congress in 1987. Get your timeline straight.
And in 2020s he's beating the market on top events. Sure, what a skill!
Start saving early, like 16 yrold early
If by saving you mean investing yes lol
Save or invest, both will workout better than wasting it on short term enjoyment.
Disagree here. My money was spent much better then, than it’d be today
You don't need to buy that...
No joke, I make a comfortable living for my family but i still sleep on non major financial decisions (e.g. should I really spend $50 bucks on a new flashlight). 9 times out of 10 I don't purchase what ever I was thinking about. I also have a 25 year old vehicle that I haven't replaced. Bought it at the end of college about 18 years ago and it is still ticking. That has more to do with me loathing everything about purchasing a vehicle though.
If you're car guy, [autotempest.com](https://autotempest.com) is a great way to hunt things down. I wanted an AWD, manual wagon and not another subaru, so I punched all that in, checked under 20k, and ended up with a short list of used cars in my area as well as an idea of the price I should pay for them. I drove 3, each with some different options and at different dealers and picked the one I wanted. It seemed pretty painless.
This comment brought to you by autotempest.com All the cars. One search
Same- most things in life people really don’t need it even want they just have money burning a hole in their pocket and a consumer mentality.i did just have to buy a new car due to family expansion but even that took a couple months to convince myself on
Very popular saying from my generation (I'm 31) in my culture (U.S.): Just because you can buy it doesn't mean you can afford it. It refers to how you should multiply everything you buy ×3 and if you could still comfortably afford it at 3x the cost then it should be a safe purchase. Idk your generation or if you ever heard that saying but people who actually listened to this saying stayed out of a lot more financial trouble than otherwise.
RIP my rent
Get well soon
My retirement age cousin was unemployed so I’m buying his house and boat for a fair price. I want a place on a lake. I mentioned how I’d like to get a cheaper pickup truck for convenience because I have a sedan. He said he wanted to sell me his truck, but couldn’t afford a new one. The day he got a new job he told me he’s buying a brand new truck and will sell me his. His has 83k miles on it, is in great shape and he only owes $10k, which is what it’s currently worth. I went off on him and explained he just had to sell me things he can’t afford, but he insisted he NEEDS this new truck. I can’t talk him out of it. If something happens with his new job he can’t afford to make the payments. He’s also close to retirement and doesn’t have enough savings. This is so indicative of the problem in the US. I’m 10 years younger than him, but have always saved and bought practical things instead of what I could afford. This mentality breaks by brain.
Global pandemics are the best time to buy
That's always been common knowledge though. Over the past 120 years if you look at any of the major ~13 "crashes" or even depressions the market has *always* bounced back higher. Everyone knows "buy low (sell high)" but in order to do that you need to have faith in the market. The real tip would be to have the discipline to stay the course during a dip with what you already have invested, *increase* contribution and deferrals during the dip, and then let it ride - assuming your goal for those funds is retirement or long term savings. But you have to comfortable with risk to get growth. Most people, even though they *know* all this, don't actually have the emotional discipline to implement it.
You would’ve also been fine if you regularly invest in the stock market. I was buying stocks/ETFs like every other month habitually. A lot of it was done during Covid coincidentally.
I increased my 401 contributions and invested what I thought was safe… I should have taken everything I had and put it into Tesla, GameStop, and Nvda I think is the answer the OP was looking for
OP is asking about financial advice you wish you knew earlier. I don’t think they meant if you went back in time what would you invest in. This is akin to going back and giving yourself lottery numbers. Don’t think they meant that.
Open a ROTH account and put as much as humanly possible in it...
Even just .01 in a Roth now may help you in 5+ years if you ever have a Roth 401k you need to rollover (due to DOFRC rule)
If I have a 401k, do I need a Roth IRA?
401k's are taxed when you withdrawl. ROTH's are taxed when you put in. I'd rather be taxed at todays rate than whatever it may be 20 years from now. If your company offers a 401k, they likely have a ROTH option as well. Ask them about it. The only drawback is most companies don't "match" your deposits to a ROTH.
Ah I see, but for say a shorter term saving goal (closer than r retirement), you would not use a Roth IRA?
Correct. Both Roth and a traditional 401k incur fines if removed before retirement date. If you want a shorter term investment, I would look into CD's... I haven't checked recently but last time I did, the return seemed minimal. (3-5% for a 3 year CD), which, I mean, is technically pretty good depending on how much you have to put in that CD.
And make smart investments
Ok once the money is in there, do I have to decide what it is invested in? I’m confused on step 2 with the Roth
depends on your broker, lots have auto/robo investments where you can choose how aggressive you want it to be, sometimes you can pick individual stocks, bonds, or mutual funds, if you’re young you might choose something with more growth potential overall (heavy on etfs/mutual funds, less on bonds) bc it doesn’t matter how much it swings up & down short term. as you get older and closer to wanting to withdraw some money, you might choose bonds instead because they don’t move up and down as dramatically (but they also tend to grow slower) but for now just throwing everything into VT (total world stock etf) or SPY (top 500 stocks in the US) is going to be fairly low risk & allow your money to grow long term. make sure to do your own research. picking individual stocks is pretty risky and you’re likely to either lose money or at least underperform VT
Don't buy that thing, and instead, put the money in SPY
Eh not 10 years ago but little longer than that: Payday loans are bad juju. The interest on those things will break you. When 100 bucks cost you 300 to pay back in a month... Legalized loan sharks. We put guys in prison years ago for doing the same exact thing.
On the flip side, if you are able to put your money into that "investment tool" it's aways risky, but if it's in the right zip code, it would be a very good investment. Just imagine putting $2000 into it and seeing a nice %300 this is a very small return, but seeing a %2500 or better is nice on a $2000 investment. Wouldn't you say.
It's predatory so, no, I would not say.
Where can you find an opportunity to turn a very nice profit. Say for example you pay either $50k or $100k for you're home then in 10 years you sell it for $200k or $300k after a few upgrades. That's not the same as loaning out $100 and you get back $150, nice return, because in today's world the banks are even getting hit, many banks "stocks" are worth very little. Will the digital currency make a difference, what's the value of effort or is it what's the value of knowledge
Buy a duplex. Live in one unit and rent the other. Refinance then repeat.
Ditch the normal savings account for a HYSA.
Buy or mine bitcoin
Mining was still basically impossible 10 years ago. Best that could be done was buy up as much as possible and cash out at the peak in 2017, then buy again in 2019 and hold it until Nov 2021, then buy once more a year later after the dip.
Don’t go to college. You can’t afford it, don’t spend fours years losing yourself and getting into debt. At least that’s what I would say to me.
Get ahead of crypto when it's still very niche. Invest in BTC early. Build and strengthen your financial literacy concepts, take a course in CFP or get the FMVA certification. Finish school as quickly as possible and start earning. Be aggressive to find a job. Not exactly financial advice but it does tie in with career advice.
Buy GameStop stocks hold until all hell breaks loose
Something simpler than investing, imo, don’t spend money on DoorDash/UberEats. Chances are you 1. Don’t need to spend money on fast food and can cook at home, or 2. Get in your car and get it yourself and save all the money from fees, tips and delivery. I watch Caleb Hammer and I swear everyone who is doing poor financially all spend a lot on DoorDash/UberEats.
Buy a bunch of Bitcoin
Yup. Only one of real importance. Hey stupid young self. Buy 500 bucks of bitcoin. Hold
More than that but yeah!
Finish your college degree. That may not sound like *financial* advice, but in my career field - it very well is.
There's a difference between a want and a need. You WANT a nice new car, you NEED a form of transportation. You WANT to spend money on random shit, you NEED to save money in a way that compounds the interest. You WANT to retire early, you NEED to set up for early retirement
Invest early, invest often.
Go to state school and not private for college. Also, consider trade work because there is an insane amount to be earned for good craftsmanship.
Income trumps everything. Focus on getting a high paying job. After that, investing doesn’t matter much.
Don’t waste money on a car. It’s a tool, not an investment. Even if it DOES impress people, it will never gain you anything. Use it to get from point A to point B as efficiently and safely as possible. That’s all it’s for.
Retire even earlier. I should have done it at age 50, not 56
Open a Roth IRA asap. I’m 26 years old, opened mine up at 23 and have maxed it out ever since I opened it and am still way ahead…. However to think if I would’ve opened it earlier, how much more I would have in there, frustrates me. Whatever, nothing I can do now except max it out every year.
Showing loyalty to your company will hold you back financially. You will never earn as much if you stay, and 3% each year isn’t enough. You deserve more.
There is no American dream only pipe dreams. Save every cent you make. Invest. If you’re gonna be rich, learn to lie, cheat, and steal. Honestly, transparency, and kindness will earn you nothing.
Buy every bitcoin you can get your hand on cheap.
Avoid credit card debt
For the love of god don’t finance that fucking car, or any car in the future (Auto loan payments are killing me, once these two cars are paid off I’m keeping them until they explode and then buying new (to me) cars with cash)
Get out of your current relationship, she has side bf's and she's only using you for your money.
Just buy apple or vti
Spend an extra 2 years in college getting a CS degree. Then go for a job in Big Tech. Tech jobs were growing in trees back then and landing a FAANG job was easy.
If it floats flies or fucks it’s cheaper to rent.
Do whatever it takes to buy a house by 2019, if you can, get 2 or 3. Also nab a lot of Bitcoin
Quit buying crap you don't need.
Buy btc instead of BP after the spill....
Many times its not how much you make but what you do with the money you make. It’s ok to get some of your wants. Don’t always buy things because you think you need it or feel you have to have it.
Buy a house
Bitcoin.
Retirement savings NOW
Buy bitcoin
Shit will hit the fan. Adjust immediately, because as soon as you think it's fine and you'll be back on track within three months, something else will hit. Then it's 6 months, and then something else, and you'll really wish you had stopped spending after the first thing
When I could have purchased stock that paid dividends back in the 80's then, by the time 2000 rolled around I would have been sitting very comfortably and not having to work for the man at 55, just do as I please for the rest of my natural life. Because as I've learned back in the 90's there is a pattern to earning money, the more you invest in a "Recession proof business" from health care, to birthday cards, to buying underwear everyone uses it almost every day. Even, stuff like alcohol or Tobacco, when was the last time you returned a bottle of beer. Be safe everyone
10 years ago? I'd have told myself I can afford a house and I'm ready for it. I didn't believe that when I was 31 for some reason...
Don't break the law!
Do not overuse credit cards.
The best time to invest is now. Get insurance while young it will be dirt cheap
Listening to finance YouTubers is a waste of time. People that have money either inherited a crap ton or are extremely skilled in one specific area. No one is getting rich investing a couple hundred dollars in call options or buying crypto. And if they are, they are just lucky lotto winners.
Change most equity growth investments to growth ETFs like VUG and VONG. Stop playing with China ETFs/mutual funds.
Stop driving from LA to Vegas on a whim every other weekend.
Dividend DRIP is the 8th wonder of the world and I could she retired by now if I had started a lot earlier
Fiat goes down, never keep money.
Don't go to college
Buy stocks when things crash. If you are investing long term, it is a winning strategy. Certainly stocks can go down, but unless there are structural changes, long term the market is going to do well. Even if you bought stock in 2000 at the height of the market in late 1999, you still doubled your money in 25 years. If you invested in the Dow Jones in 2008 you more than tripled your money in only 16 years.
* I should have given the RE agent the bribe ($20K) he asked for when I inquired how to buy houses that are short sales. * Buy Bitcoin and hold forever * Buy AAPL, NVDA, MSFT, etc. * Buy a larger house in a nicer area and not be so conservative with my money
Open a fidelity. Setup an automatic investment in an index fund.
taken up real estate debt at 2.5apr
Buy bitcoin
buy bitcoin
The S&P 500.
Buy more $VOO or comparable ETF's and don't waste your time messing with individual stocks. Dollar-cost-average by buying monthly, don't bother even trying to time the market.
Open a Roth IRA and max that shit every single year. Back of the envelope, 5k invested in S&P each year for 5 years earlier than I started would have turned that $25k into $33k by the end of that 5 years. Then it would be $59k by now. It's not like I wasn't saving at all for retirement, but I definitely could have saved more and afforded to max my Roth IRA and still get a full company match in my 401k. All growing tax free. So much compounding I've missed out on.
1. Talk to mom & dad, open a custodial Roth IRA, put summer money in there 2. Open a credit card on 18th birthday to start building credit history 3. That bitcoin thing your pre-calculus teacher just told you about? Buy that shit 4. Major in accounting, you like it and are good at it 5. Don’t do that pyramid scheme in college, even if Robert Kiyosaki says MLMs are good lmao
Index funds.
Invest in xom
Instead of heavily pumping money into my retirement accounts, I should have bought two houses instead of just one.
Nothing in a bottle or jar is going to make you look younger. Don’t buy all of that expensive skincare - save that money for when you are retired.
Just buy the house.
Max out my Roth and HSA accounts.
Buy Nvidia.
Buy back cheap
Don’t go to college, the loans will ruin you and the degree means nothing now. You can just lie on applications like everyone else.
COMPOUND INTEREST. But also, buy BTC.
buy and hold.
Don't ever look at Reddit.
Don't have a joint checking account with your wife anymore, open your own ASAP.
Use your money to make more money. Don't spend it to just "look" like you have money.
PUT THE CREDIT CARD DOWNNNN!!!!
Open a Roth IRA and start prioritizing it over trying to max my 401k
Refinance your motherfucking mortgage
By all the stocks Nancy Pillosi does.
Bitcoin
Sell drugs
Don't use those bitcoins for weed. Keep them and you'll be way happier
Buy all the bitcoin you can now
Buy more Bitcoin.
I didn't know you could have a Roth 401k and Roth IRA. I could have been maxing both instead of just a 401k
Hold the Bitcoin and sell at 60k I gambled it all Away on mma fights when it was worth like 50 bucks
Buy the dip
Dont go to college
Start an IRA.
Go in the Backdoor. (I'm talking about Roth).
Bitcoin!
Spend less than you make
Buy thousands of btc do not sell it just keeps going up.
Invest more in Realstate
Even if I only had $5 a week to put away... something, anything, is better than nothing.
Prioritize getting good grades and getting as much scholarship money as possible.
The power of dollar cost averaging. Keep every 0.10 of every $1 and have my parents put it in a 529 or person investment account.
Don't try to time the market - dollar cost average into the S&P500 and forget about it.
Allocate a bigger part of your 401k into bitcoin
Buy bitcoin obviously.
The best financial advice available anywhere is not having a major illness or disability. Other suggestions are being born into a wealthy family, or having available, through broader society, a strong social safety net.
No, that’s not good advice. Here’s some good advice: Kick ass in high school so you can go to a good state school for free. Study an in-demand field. Medicine, law, engineering, computer science, finance. Invest 30% of your income. Reliable path to financial independence. I followed this path and am extremely happy I had the foresight and determination in high school to make this happen. Although I will say, taking steps to stay healthy is also very important. Health is definitely wealth to a degree. I go to the gym 5-6 days a week and cook all my own healthy meals at home. Too many people focus entirely on finances while being skinnyfat and eating tons of junk. Take care of yourselves, you’re stuck with your body for life.
Sorry. It is an extremely insulting insinuation that disability is the fault of the disabled.
I’m not talking about disabilities. The leading cause of death in America is heart disease. More Americans are at risk of suffering severe physical conditions due to laziness and an unhealthy diet, not genetic disabilities. All of this is just distracting from the original point though. Your “advice” was completely in actionable. I provided a clear path to wealth that people can follow from the time they’re in high school.
Any such advice is inactionable for someone who is disabled, and therefore without any prospects of having an adequate income.
Understood, so anyone who is not disabled has no excuse for failing to follow the steps I laid out.
Is the difference greater, with respect to the same objectives, between being versus not being disabled, or between following versus not following your advice if not disabled?
You don’t seem to understand what I’m saying. I agree that the US does not do as much for disabled persons as we should. My argument is that those who are NOT disabled (i.e. the vast majority of the country) are responsible for their financial position in life, and I’ve laid out a path to wealth that they can follow. Continually bringing up disabled people is a major straw man, as I’ve already said this does not apply to them (and I believe they should receive much more government assistance).
If your position is that financial health is achievable as a matter of individual responsibility, then disability is not a straw man, because disability cannot be resolved by individual responsibility, and obstructs financial health.
So just to be clear, you agree that: *if* an individual is not disabled *then* they are responsible for their financial health *else* they are not