General Advice You'd Give Someone Younger

[Bloodfart]

Marry the right person.

Seeing how there's a 50% historic chance of ppl being wrong on this, there's no way to judge how to do this.

Marry someone smarter than you then.  I did and look at me now bitches.

[Rams]

start your own business.

[CNS]

start your own business.

Yep. 

Do this. 

But first, get good at something.

[420seriouscat69]

If you're going into business. Take some golf lessons. It will pay off. Every client/boss wants to play golf on Friday.

[ben ji]

The "do what you love" thing is hard.  I mean, there is a bunch of stuff that I love doing that I would absolutely hate doing if I had to do it for other ppl or if I had to do alongside some douchebag as a coworker that was put on my team with zero input from me.  I mean, other ppl(customers, coworkers, vendors, etc) can really eff good things up.

Kenny Powers once said "They say money can't buy happiness, but I've never seen a sad mother rough rider on a jet ski"

[ben ji]

I for one am happy I spent $ I didn't have at the time on spring break trips to padre and panama when I was in college. Those trips are paid for now and I'm pretty sure those trips would suck balls at 50.

This x100. Take as many trips as you can when you are young. Maximize your fun in college.

plus student loans are great ways to finance spring break trips.

True story, ben ji's dad is a year younger than his mom and used his student loan money to buy ben ji's mom a ring when she graduated. They got married and she ended up helping pay back his student loans.

Pretty boss move if you ask me.

[The Tonya Harding of Twitter Users Creep]

The "do what you love" thing is hard.  I mean, there is a bunch of stuff that I love doing that I would absolutely hate doing if I had to do it for other ppl or if I had to do alongside some douchebag as a coworker that was put on my team with zero input from me.  I mean, other ppl(customers, coworkers, vendors, etc) can really eff good things up.

Kenny Powers once said "They say money can't buy happiness, but I've never seen a sad mother rough rider on a jet ski"

 

[420seriouscat69]

I for one am happy I spent $ I didn't have at the time on spring break trips to padre and panama when I was in college. Those trips are paid for now and I'm pretty sure those trips would suck balls at 50.

This x100. Take as many trips as you can when you are young. Maximize your fun in college.

plus student loans are great ways to finance spring break trips.

True story, ben ji's dad is a year younger than his mom and used his student loan money to buy ben ji's mom a ring when she graduated. They got married and she ended up helping pay back his student loans.

Pretty boss move if you ask me.

That's a pretty great story, ben ji.

[K-S-U-Wildcats!]

Dave Ramsey didn't retire at 50, fwiw.

dave ramsey has made millions on rubes. he will continue to as long as there are rubes.

RIP Jeffy

Yes, he sells them on a dream of retiring at 50, which is obviously a dream he doesn't even share. He's made millions, and he could retire today if he wanted to. He doesn't want to, though. I honestly don't know any successful 50 year old who is just dying to retire. They are all making lots of money and enjoy going to work.

It's a generalization. I don't expect to "retire" for a really long time, maybe ever. It would be nice, however, to get to a point where I can live comfortably (at my standard of living) without a high income job, and I could devote more time to doing other things I enjoy, more charity work, etc. That's what saving a crap-ton and getting rid of debt buys you: freedom to do what you want while maintaining the standard of living you want, and not having to wait until you're 70 to get there.

And you don't have to be a monk to do it. It's all about balance. I have plenty of fun and do plenty of traveling - I'm just not constantly pissing away money on little daily purchases like fast food, booze, the newest clothes, etc.

So you can rationalize all you want about all those great credit card benefits - you're still pissing away money. And you can rationalize all you want about getting a way better return on your investments than you are paying in student loan interest - you're still in debt, and that debt doesn't go away if things come crashing down. Call the Dave Ramsey people rubes if you want - and I'll agree that his advice is very rudimentary - but financial freedom is nothing to laugh at.

[420seriouscat69]

Fast food and booze are pretty cheap if you do it right. 

[Rage Against the McKee]

How is fast food pissing your money away? I mean, you could eat a nice meal off the dollar menu at most fast food places for $3. It's incredibly unhealthy, but I wouldn't really consider it to be an outlandish expense.

[Cartierfor3]

Be friends with people different than yourself. If you're a Christian hang out with some atheists. If you're a democrat become friends with some republicans. Etc.

[ChiComCat]

How is fast food pissing your money away? I mean, you could eat a nice meal off the dollar menu at most fast food places for $3. It's incredibly unhealthy, but I wouldn't really consider it to be an outlandish expense.

Most times I go and get fast food, I end up spending about $8-10. 

Regardless, clothes is something I don't get his complaining on.  I have bought nice shoes/suits/work shirts and while more expensive up front, they last way longer than cheap crap.  I agree with SD that for most things, shopping around and buying quality is way better than cheap stuff.  I used to buy mediocre looking clothes because they were cheap and they just end up sitting in the closet while I wear the nice stuff.

[steve dave]

So you can rationalize all you want about all those great credit card benefits - you're still pissing away money.

The only people pissing away money because of credit cards are people that shouldn't be trusted with their own finances to begin with.

[420seriouscat69]

How is fast food pissing your money away? I mean, you could eat a nice meal off the dollar menu at most fast food places for $3. It's incredibly unhealthy, but I wouldn't really consider it to be an outlandish expense.

Most times I go and get fast food, I end up spending about $8-10. 

Regardless, clothes is something I don't get his complaining on.  I have bought nice shoes/suits/work shirts and while more expensive up front, they last way longer than cheap crap.  I agree with SD that for most things, shopping around and buying quality is way better than cheap stuff.  I used to buy mediocre looking clothes because they were cheap and they just end up sitting in the closet while I wear the nice stuff.

Good god man, what do you order?

[Rams]

So you can rationalize all you want about all those great credit card benefits - you're still pissing away money.

The only people pissing away money because of credit cards are people that shouldn't be trusted with their own finances to begin with.

...or sharp objects

[wiley]

Move away from where you grew up.  Like go to college in another region, or take your first job in another region.  I took my first job on the gulf coast.  Looking back i wish i had gone to school somewhere else as well.  As many have pointed out, students loans have many extra benefits besides books and tuition.

[StevieWonderSniperSchool]

One of my favorite quotes.

"Twenty years from now you will be more disappointed by the things you didn't do than by the ones you did. So throw off the bowlines, Sail away from the safe harbor. Catch the trade winds in your sails. Explore. Dream. Discover."

[Domino]

Re: the debate between doing what you and love and income, studies show the the sweet spot between people being happy with their lives in and income is roughly between $50,000 - $75,000 a year.

http://www.forbes.com/sites/learnvest/2012/04/24/the-salary-that-will-make-you-happy-hint-its-less-than-75000/

SD is right as well. Traveling and experiences (concerts, sporting events, etc.) are the best way to spend your money, because they are the most memorable and tend to be the things we enjoy the most.

<---- still very young

[michigancat]

Re: the debate between doing what you and love and income, studies show the the sweet spot between people being happy with their lives in and income is roughly between $50,000 - $75,000 a year.

http://www.forbes.com/sites/learnvest/2012/04/24/the-salary-that-will-make-you-happy-hint-its-less-than-75000/

SD is right as well. Traveling and experiences (concerts, sporting events, etc.) are the best way to spend your money, because they are the most memorable and tend to be the things we enjoy the most.

<---- still very young

I think that depends on where you live. I also think people lied about how happy they were.

[michigancat]

Also, don't have a bucket list. They'll only leave you disappointed if you don't complete everything and unfulfilled once you do. Find the beauty and magic around you every day and take it all in.

Alan Watts says this a little bit better than I could (he is talking about careers but I think it applies to "bucket lists" as well):

So did John Michael Montgomery:

[Rams]

Re: the debate between doing what you and love and income...

pro-tip: sometimes you don't have to choose.

[michigancat]

Re: the debate between doing what you and love and income...

pro-tip: sometimes you don't have to choose.

no crap Sherlock

[Dugout DickStone]

-start getting into the points/miles game now. it will give you baller credit and let you travel the world in first class for free for the rest of your life.

-if you are smarter than everyone make sure they know it but make sure they don't know you are making sure they know it.

-save money for retirement but spend a lot now on things you love. you can do amazing things in the prime of your life or you can sit on some money when you are old and can no longer do those things no matter how much money you saved.

-leaving a shitload of money for your kids isn't doing them any favors and they won't remember you more fondly for it.

-student loans are one of the greatest government benefits there are. use them. working 40 hours a week while going to school is never a better idea than working 10 and having a small amount of 1.6% long term debt at graduation.

-don't feel like you have to have kids just because the dickwad next door has 7. he's lying to you. he doesn't want to spend 100% of his free time at baseball games.

-but, if you want kids have them. they seem pretty great in certain situations.

-if you're feeling down just hop on an airplane and get out for a day or two.

-carry on whenever possible. usually if you think it's not possible it actually is.

-don't buy garbage, you get more than what you pay for in almost all instances. find the very best of what you are looking to buy and then find the best price for it.

-owning X really high quality Ys is better than owning >X medium quality Ys. (the number and the item aren't important and can be changed to anything).

-relationships are pretty easy, I can't provide much advice there. nature v. nurture or whatever.

-don't stay somewhere cheap because it's just a bed.

-gamble, but don't be a dumbass. it's not an investment.

-try all the less scary drugs at least once. don't do it, like, a ton though.

Have done all but the points thing.  Regret that, but fortunately work has provided same insane travel that hoarding points does.

Also, don't have a "bucket list" to accomplish when old. Do all of it when young.  I've hit any bucket list of sports in North America except the Masters ( don't love golf)... World Series, Super Bowl, derby, all national titles, baseball playoffs, America's cup, triple crown (silver charm!), Tyson Holyfield
Been to oscars and Grammys

[sys]

I guess I understand what some of you are saying re: find a job that you can "tolerate" and you don't need to find one that you love.  but if you have to work 8 hours a day, that's a shitload of your life that you spend just "tolerating" something.  that doesn't seem like a very good way to go through life.    I just can't imagine having to get up most days and spending virtually the entire day doing something that I don't love.

let's say you loved bball, had practiced bballing your whole life and were pretty good at it.  then let's say you finally decided to get a job in bball and it was really hard because tons of dumbasses also love bball and there isn't that much need for bball players.  but you finally find a bball job that pays pretty well.

you won!  you did it!  congratulations, here's your ball.  go stand in the corner over there and dribble it for 8-12 hours every day.