Advice you wish you had gotten in your early 20s

1. Time is more valuable than money....absolutely.
2. TATBO-"take all the bastards out!" means dont be a door matt,dont put up with B.S. if you dont have to. also work your ass off.
3. "bang as many chicks as you can while you're stuck in this place"- some movie
4. take risks. When you have reached rock bottom, you will find out who you really are, and what you are really made of.
5. never, ever, quit, never.
 
"Do not, ever, go into debt"

I disagree. there is good debt and bad debt. Good debt can give you leverage to make MUCH more money. OPM...you know.

most of the greatest business men of al time have large amounts of debt.

now...credit card debt and buying a flashy new car...you are dead right.
 
umm.. I don't get you lindq..

Wouldn't it be more sensible to PAY your house off 100% so that you have no debt. Thus, if you can cut it, then it is better to pay cash for a $50,000 house than to take a mortgage on a $500,000 house. Because you'll be paying WAY TOO MUCH in interest.


Quote from lindq:

Best advice for anyone in their 20's:

As soon as possible, learn to be a good buyer of real estate. Study your local market, then buy the best and biggest single family home you can afford, as soon as you can possibly do it.

Don't put it off, using the excuse that real estate is too expensive. To someone in their 20's, it will always look expensive.

Take good care of the house, and upgrade to a better home every few years.

Stretch yourself now, get on the path, and in your 50's you'll be very happy.
More...
 
Quote from austinp:

<i>"
2nd best advice would be to pick a profession you love, regardless of pay. Money alone is not worth the exchange for time if it's pure drudgery. 1/3 our lives are spent working, that's a lotta time to be bored = miserable.
More...

this should have been ur 1st best advice... one of my motto's is

quality over quantity.
 
He's talking about cashing out equity and trading up.

Real estate allows for maximum leverage due to low down payment requirements.

Only problem with his scenario is a real estate market downturn like we're having.


Real estate is merely on leg of the stool to financial freedom.

The other clueless person on the board is touting NEVER GO INTO DEBT. The stupidest advice I have ever heard.

It takes money to make money and those that learn the power of leverage and how to use it wisely at a young age will be the financial masters of tomorrow. Like most threads on ET, this one is quickly breaking down into just more bad advice given to young people.

My advice.... Only come to ET about every 3 weeks (if at all) and all that time you have saved yourself use it to trade. Your profitability will improve proportionately.
 
best advice - don't get married until you are 35, screw a lot of women and don't catch any diseases.

I got married two weeks after I turned 35. Guess I heeded the advice.
 
Quote from Algorithm:


Only problem with his scenario is a real estate market downturn like we're having.
More...

So shortsighted. And the reason why so many people miss out on the tremendous advantages of leveraged real estate over time.

DOWNTURN + HISTORICALLY LOW INTEREST RATES= MAJOR LONG TERM BUYING OPPORTUNITY.
 
Quote from buylo:

Go act like an idiot for a few years. Ski bum in CO or travel in Europe.
More...

I'm with you, buylo. Easier to be aimless when you're young and poor. I'm on the reverse plan and unraveling as I get older. But it's not as much fun with a 40yo body rather than 20ish.

Traveler
 
Quote from Traveler:

I'm with you, buylo. Easier to be aimless when you're young and poor. I'm on the reverse plan and unraveling as I get older. But it's not as much fun with a 40yo body rather than 20ish.

Traveler
More...

isnt life wierd that way...I remember not having 2 nickles to rub together and I did more than i do now and with not one iota of a worry if money was ever going to run out because somehow it just didnt ( hustling working and or slinging ) ..now i make 100 times more than i ever did and worry everyday that I aint making enough... ;o) WTF ..its called dependents..I didnt have them then , i have them now...so like the poster said enjoy while use can.......... yeah baby
 
Quote from jack hershey:

see attached.

...All you do all your life is use your mind.

You use it to get or to give. It depends upon how poor you are, still. You are poor until you can afford to give. Poorness applies to everything.
More...

The last two paragraphs of your attachment, Jack, is deep. That is wisdom. Poorness applies to everything.

If, using your mind you don't give your heart to your friends, you are poor, still.

If, using your mind, you try to get from the market, you are poor, still.
 
You must log in or register to reply here.
Back
Top