Those of us who are 29+ let's give advice to new graduates and those 17-24

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i'm just noticing that the old model of financial planning in amerikka isn't working for most americans and even black people.
I work in that industry and to be frank...I truly question the "pour money into your retirement " and "buy a house" principals early especially for our target market of this thread....have A PILE OF CASH FIRST. WHats the value in an illiquid house and retirement if you have a $10,000 EMERGENCY?

Having a suitable savings is way more important than a sizable retirement before you're 30.
 

heart

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My advice is invest in some type of higher education for a career you can actually find a job in early as possible. I hear a lot of young people say they want it but aren't willing to put in the work to get it. Going to college "to get some degree" is fine but you have to look at the job prospects for those careers coming out of college with no experience. Companies love paying people what they accept & NOT what they're worth.

Another thing is WE would all LOVE to do what we wanted to do as far as our career choices. I wanted to be a sports journalist & actually had journalism as my major but I was in HS & college during the internet boom & now everyone as a platform to get their opinions out there so the industry is struggling bad(magazine, newspaper)

My point is you may not get the luxury of working that "dream job" BUT if you can get a career where you're making great money, good credit, house, excellent savings, etc.. You can really have a less stressful life. I've been on both ends & when you're broke with no end in sight it brings on a different level of stress...
 
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My advice is invest in some type of higher education for a career you can actually find a job in early as possible. I hear a lot of young people say they want it but aren't willing to put in the work to get it. Going to college "to get some degree" is fine but you have to look at the job prospects for those careers coming out of college with no experience. Companies love paying people what they expect & NOT what they're worth.
Agreed

But going back to my OP, its easy to find yourself in a trap of mismanaged expectations of when they're supposed to be at that step...
 

Blackking

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I work in that industry and to be frank...I truly question the "pour money into your retirement " and "buy a house" principals early especially for our target market of this thread....have A PILE OF CASH FIRST. WHats the value in an illiquid house and retirement if you have a $10,000 EMERGENCY?

Having a suitable savings is way more important than a sizable retirement before you're 30.
I agree with you.

I have an in my house WW3 battle going on about this right now. :birdman: shyt is serious as fukk.

My girl has a retirement acct n shyt that would put most Grown men to shame... but no cash on deck.
I don't really save money but I still have my money from..... 'other stuff', Plus I buy valuable things and save in unorthodox ways.

She wants to by another house that we'd have to pay on.. she wants a car with a note AND has talked me into it last year.
I never had a car note, cell phone plan, credit card or anything .......... in my life.

i told her.... We have 30-40 years of Real living left.. lets just enjoy that shyt and stack paper as we go. ( i just wanna be done living my life by age 70ish.. instead of a old nikka trying to finally do shyt)

What plan do you recommend?
 
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Kasper KArr

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Here's a tough one

Don't talk so fukking much. You will avoid talking yourself into trouble, exposing your hand, and its an integral part of successfully navigating the workplace if you enter it. Nobody likes a gossip or a peacock.
Law 4: Always Say Less Than Necessary.
~48 Laws of Power

I rarely comment on here. I have a account to dap and show appreciation for the gems countless drop here. And this quite frankly is one of the most invaluable pieces of advice one can give...applicable all the way from an (il)legal standpoint to college life.
 
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I agree with you.

I have an in my house WW3 battle going on about this right now. :birdman: shyt is serious as fukk.

My girl has a retirement acct n shyt that would put most Grown men to shame... but no cash on deck.
I don't really save money but I still have my money from..... 'other stuff', Plus I buy valuable things and save in unorthodox ways.

She wants to by another house that we'd have to pay on.. she wants a car with a note AND has talked me into it last year.
I never had a car note, cell phone plan, credit card or anything .......... in my life.

i told her.... We have 30-40 years of Real living left.. lets just enjoy that shyt and stack paper as we go. ( i just wanna be done living my life by age 70ish.. instead of a old nikka trying to finally do shyt)

What plan do you recommend?
If you don't have a comfortable amount (I won't say x months x amount; comfort is quite relative to the holder) then what's the point of saving for when you're 65?

Talk to her about the IMMEDIATE emergency or the need to prepare for today...and how adding monthly payments derails that and adding money to an untouchable IRA also does.
 

TwistedMetal

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I'm still a youngin but I suggest you read as much as you can.

I'm a compulsive personal development reader especially books from Amazon like shyt on the third eye, laws of attraction, think and grow rich, success books, ancient aliens, our leaders etc etc etc
You can NEVER have enough knowledge :ehh:
Also, if I meet a girl and she doesn't like to read then she's :camby:
 

FlyRy

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I'm there right now :mjcry: searching for a job with no experience and just a degree is fukking HELL. I keep dealing with these bullshyt ass staffing agencies that never lead anywhere too.

i'll add .. avoid staffing agencies..they're full of shyt. most of the time can't even get you an interview.

put in the legwork yourself and don't expect someone else to do it.

plus do TONS of interviews..even if you don't want the job just to get good at them.. once you get confident with interviews you'll be golden

Salmon and a caeser salad tonight :salute:

that's what i'm doing tonight as well.

I ate like shyt all my teenage years that i got GERD at 23 :heh:

but i still fought it for a few more years after that before my body couldn't take eating out any more.. plus you save a shyt ton of money buying groceries
 

Atsym Sknyfs

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I agree with you.

I have an in my house WW3 battle going on about this right now. :birdman: shyt is serious as fukk.

My girl has a retirement acct n shyt that would put most Grown men to shame... but no cash on deck.
I don't really save money but I still have my money from..... 'other stuff', Plus I buy valuable things and save in unorthodox ways.

She wants to by another house that we'd have to pay on.. she wants a car with a note AND has talked me into it last year.
I never had a car note, cell phone plan, credit card or anything .......... in my life.

i told her.... We have 30-40 years of Real living left.. lets just enjoy that shyt and stack paper as we go. ( i just wanna be done living my life by age 70ish.. instead of a old nikka trying to finally do shyt)

What plan do you recommend?

Its a combination of both. Only you know yourself to know where that balance is... it's like Now & Laters ... use some now, save some for later.

I forgot the "ratio" but pay tithes (if you into that), save some.. pay yourself with some (play money, immediate savings) . bills for some.... then spending money
 

MJ Truth

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Not "wear a condom" "don't drink and drive" type of advice. They've heard that. I'm talking about real...REAL LIFE advice that you learned the hard way.

I have a good friend who is 24 and regularly depressed and more so...feels lost.

Here's a secret for those of you who are too:

Nobody else knows what they're doing either. I have a very solid career but I am just going with the flow...regularly get the feeling I've fukked or am fukkin up...and feel lost. The most directed and driven people you know in life are actually lost like you too. Nobody decided "I'm going to be X" in hs or during college and then...did it...and if they did they have second thoughts and doubts every day. There is not a way you're supposed to be going, or a place you're supposed to be at a time in your life. Don't fall into those constructs. And don't get disappointed because you're not "there" yet.

I could continue but I'll pause there. Add on
I hate to do this because you started this thread and it's a great thread and you made a tremendous point in the first post, but I essentially have the exact opposite view of this. "Nobody else knows what they're doing either" isn't necessarily true. I know, and a lot of people, know/knew what their goals/plans were early on in life (that's essentially how you end up with uber successful young athletes, musicians, businessmen, etc.) I think a very important thing for young people to do is figure out what they're trying to get out of their life, and then sorta live their lives backwards.

For example, I decided I wanted to be an entrepreneur pretty early on in life and so basically instead of working to become one, I simply acted like I ALREADY was a successful businessman and then kinda just tried to grow into it (of course, then I grew out of it and back into it again over and over, but that's a different story). And that's what I did with my social life as well... I decided what kind of person I wanted to be and instead of becoming it I just put into my mind that I already WAS it and then I just grew into it. Now obviously this doesn't work if you don't know what you want out of life... and I think I'm pretty fortunate in the fact that I knew what I wanted early on... but I think it's important to say that a lot of people do have their lives planned out and I personally think it's easier to be happy when you actually know what you're going for in life.


But as for my personal contribution to this thread, the most important thing you can do in life is BUILD MOMENTUM. And once you have that momentum built, DON'T STOP, because once the momentum stops it's hard to get started again. That's pretty much what went wrong for me in business - I was doing well, and the better you do the easier it gets, but then one day I decided I wanted to take a "break" and I took a year off and tried to get right back into it on some "If I did it once, I can do it again, even easier" shyt and it just doesn't work like that.

And that goes for anything. Business, wealth building (accumulation allows your money to work for you instead of you working for it), health/exercise... it's a helluva lot easier to stay in shape than it is to get in shape. Your social life... the more relationships/friendships you build and the earlier you build them, the easier it is to build more. Basically, it's all about building... it's basic math/physics, the more you have the more you'll get.


Edit: And I had to wait until now to post it because I just turned 29 today. :blessed:
 
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