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I know I sound like some old miser here... but if I had to give any advice to you young cats... man forgo the new cars, the $5 SBUX, the $150 NKE's, the $100 date nights with the wife/gf/whoever... and all the other consumer bs. Drive a beater, shop at thrift stores... keep your cash-flow at a minimum and use every penny saved to buy the cheapest house in the best neighborhood you can afford. Quit spending money!
My advice to add to your piece would be - dont take up trading...
dont worry about the cars or girls, they are the biggest distraction in your youth, make yourself into a high value man that is competent, resourceful and knows how to make serious money - then all the good things in life (including girls) will seek you out.Find a successful mentor and pledge your LOYALTY, stick with them through thick and thin and absorb all you can, they will also have many failures. The quickest way to make $100k and more is to make a millionaire into a 10x millionaire.
Tell your son this