I’m 22, live with my parents and make close to 50k a year. How much should I invest/save?

[SAINT]

dudes always tell on themselves when the coli starts talking money

Obviously didn’t read the rest

 

[Weaver31]

Nope

Not a bad salary for ur age and not being in a big city...u doing very well for ur age.

 

[SAINT]

You're 22, you don't have any money to invest. Why are you asking about stocks?

Just asking. it’s never too early to ask

 

[SAINT]

breh, wait a second. you have "3k a month left over" but you have 40k in student loans?

you need to pay AT LEAST 2 grand a month toward loans until that shyt is gone. dont spend on anything else big until then

Bro that shyt is mad stupid. I’m not trynna give Salliemae 2gs a month

 

[TheBoyDuddus]

Just asking. it’s never too early to ask

Learning about stocks is a waste of your time. Once a stock is public all the money has been made already. You should focus on specializing in something that few can do and that commands a large premium. So you can charge whatever employer you have a lot of money.

 

[UberEatsDriver]

Lol I’m in no rush to add expenses that I don’t need. I’m not moving out until my student loans close to paid off. Prolly age 25ish

Don’t listen to him. Keep staying in your parents house until you feel you ready to go and save and invest as much as you can.

A lot of people in other cultures do this exact thing!

 

[MollyGalaga]

Got an IT internship and turned that opportunity into a entry level software engineering position

Teach me breh from a young breh to a younger breh,
How them grades looked to get that IT internship, and how did you power through the coursework when it got mundane (dont lie breh ik it got mundane to a point)

 

[Adidacs]

Lol I’m in no rush to add expenses that I don’t need. I’m not moving out until my student loans close to paid off. Prolly age 25ish

you just answered your question right there

 

[Adidacs]

Bro that shyt is mad stupid. I’m not trynna give Salliemae 2gs a month

be a debt slave, brehs

 

[SAINT]

Teach me breh from a young breh to a younger breh,
How them grades looked to get that IT internship, and how did you power through the coursework when it got mundane (dont lie breh ik it got mundane to a point)

*this is a long post and the grammar is all over the place*

I was always intelligent, but I learned grades don’t necessarily matter as much in the IT field it’s all on willingness to learn, being able to communicate, and learning shyt on your own. A lot of times during the interview the manager don’t care you got an A in biology, however he does want to hear about your 20+ min presentation you did in A.I for a class. Or how you built your own pc but your cpu kept overheating which caused your FPS to drop and pc to crash, but you found out a way to fix it.

My advice is this if your going to bs the coursework be smart enough to know how to counter it. Do well in the classes that MATTER, calculas, economics, Database, programming, data communications, i got A’s in, but art, bio, and all that other stuff was irrelevant to me and my plan so I just got C’s and got by. However I made sure to stress about the classes that I did well in during the interview process. My plan was to get my A+, Net+, get a help desk position, learn s programming language. then move up to networking in a few years. So as long as I had my degree I was straight regardless of my gpa or not. Because my credentials and experience would overshadow anything else.
I bullshytted my freshman year and had a 2.47(my gpa like a 2.7 now) gpa then brought it up to 3.25 just high enough to get my internship once I got my internship I busted my ass and was actually supposed to get an IT entry job which was going to pay me more than I have now, but upper management never approved it, so I applied for a software opening, my manager, supervisor, co-workers, HR(since I was down there helping them with something) vouched for me hard. I even helped the manager who interviewed me with some pc issues. At the end of the interview dude looked at me and said, “I’m not supposed to say anything, but you already got the position, we just gotta interview these other people, then we’ll call you and make it official” my point is this. Bust ya ass in the classes related to your field keep a gpa over 3.25 apply for as many IT internships as you can, trust me you’ll get one! Then work hard and make sure to leave a lasting impression on everyone you meet. You’ll be shocked on how far that takes you.

 

[MollyGalaga]

I was always intelligent, but I learned grades don’t necessarily matter as much in the IT field it’s all on willingness to learn, being able to communicate, and learning shyt on your own. A lot of times during the interview the manager don’t care you got an A in biology, however he does want to hear about your 20+ min presentation you did in A.I for a class. Or how you built your own pc but your cpu kept overheating which caused your FPS to drop and pc to crash, but you found out a way to fix it.

My advice is this if your going to bs the coursework be smart enough to know how to counter it. Do well in the classes that MATTER, calculas, economics, Database, programming, data communications, i got A’s in, but art, bio, and all that other stuff was irrelevant to me and my plan so I just got C’s and got by. However I made sure to stress about the classes that I did well in during the interview process. My plan was to get my A+, Net+, get a help desk position, then move up to networking in a few years. So as long as I had my degree I was straight regardless of my gpa or not.
I bullshytted my freshman year and had a 2.47 gpa then brought it up to 3.25 just high enough to get my internship once I got my internship I bust my ass and was actually supposed to get an IT entry job which was going to pay me more than I have now, but upper management never approved it, so I applied for a software opening, my manager, supervisor, co-workers, HR(since I was down there helping them with something) vouched for me hard. I even helped the manager who interviewed me with some pc issues. At the end of the interview dude looked at me and said, “I’m not supposed to say anything, but you already got the position, we just gotta interview these other people, then we’ll call you and make it official” my point is this. Bust ya ass in the classes related to your field keep a gpa over 3.25 apply for as many IT internships as you can, trust me you’ll get one! Then work and make sure to leave a lasting impression on everyone you meet. You’ll be shocked on how far that takes you.

Thank you breh thank you
#Intelligencegang
Congrats on your job too breh

Id say stack it up for as long as you possibly can, nothing wrong with staying at your moms house a lil while longer

Also think about your future too, how long you see yourself at the position your at idk where you live at or if you enjoy the area you live in but main priority is what YOU wanna do

Yea buying some guccis is cool but life is so unexpected you really gotta make sure all your important decisions are taken care of before you decide to cop that gucci jacket

Trust me breh im a lil younger than you ik the allure of all that money is

But that shyt can be gone quick if you dont manage it

Also make a list of needs/wants if you havent already

Also know you have a luxury most dont
Going to school and staying by your parents

So in short, stick around for a lil
Save at least 30%-45%
And ooh look for ways to get that 50k to 90-100k (legally breh )

 

[SAINT]

Thank you breh thank you
#Intelligencegang
Congrats on your job too breh

Id say stack it up for as long as you possibly can, nothing wrong with staying at your moms house a lil while longer

Also think about your future too, how long you see yourself at the position your at idk where you live at or if you enjoy the area you live in but main priority is what YOU wanna do

Yea buying some guccis is cool but life is so unexpected you really gotta make sure all your important decisions are taken care of before you decide to cop that gucci jacket

Trust me breh im a lil younger than you ik the allure of all that money is

But that shyt can be gone quick if you dont manage it

Also make a list of needs/wants if you havent already

Also know you have a luxury most dont
Going to school and staying by your parents

So in short, stick around for a lil
Save at least 30%-45%
And ooh look for ways to get that 50k to 90-100k (legally breh )

Heard you bro, it’s so tempting .

And you gotta find a way to get that 100k too bro, don’t stress it I was pushing carts at target two years ago lol. I’m taking all this advice to heed. Those diamond earrings do be calling though, shyt is the devil but if you ever need something, advice, help, send me that pm dawg and I gotchu

 

[dark_magic]

I’m a soon to be college graduate and got an entry level position around my field, I spend money on tech, clothes and food. But even after that I always have extra money around. Now 50k ain’t shyt honestly, but when you factor in how little my expenses are I always have disposable money laying around. Now I’ll prolly spend 900-1k a month which leaves me with over 3000. I ain’t tryin to blow this shyt on clothes or dumb stuff. how much should go towards my 401k? how much should go towards bonds? how much stocks and how much should I save? How do y’all budget?

It sounds to me that you are seeking to design a financial system for yourself?

Some with yourself as a private depository bank.
Some in the bank, enough to cover bills with some padding (online money).
Some in your 401(k) (only up to the match). The remainder in a Roth IRA.
Some in a dividend, paying whole life insurance policy (private loan bank).

Anything that you do with your money will have pros and cons due to opportunity costs.

Given the above, you have your money diversified between yourself, the bank, Wall Street, and an insurance company.

From there, I would focus on increasing cash flow and acquiring credit. Life at 6 figs can be great , but it can be all the better when you have a financial system custom designed for you (and not the banker, insurance agent, stock broker, money manager, et al). You should look towards optimizing your taxes as well at this time. Capital gains can be focused on after that cash flow gets up. My investment goals aren't so much geared towards retirement, but more so breaking even (debt free) and passive income (financial independence).

Eliminate your debt as rapidly as possible, there are some CRAZY techniques for doing this.
If buying a car, I would finance it through my own bank (whole life policy) after it is capitalized in a few years.
If buying a house, I, personally, would not do it until you understand banking, finance, lending, real estate with a touch of the Law of Contracts fairly throughly. Ideally, purchasing a house should be positively leveraged or neutrally leveraged. Negatively leverage is not great, but that is what just about everyone else out here is doing.

As far as investing goes, one has to do their own research and study. Personally, I've been hitting finance along with banking and insurance really hard as of late. Learn the difference between financial facts and marketing. In time, you can determine which investments truly work with your style of investing, personal philosophy, risk tolerance, et al.

 

[SAINT]

It sounds to me that you are seeking to design a financial system for yourself?

Some with yourself as a private depository bank.
Some in the bank, enough to cover bills with some padding (online money).
Some in your 401(k) (only up to the match). The remainder in a Roth IRA.
Some in a dividend, paying whole life insurance policy (private loan bank).

Anything that you do with your money will have pros and cons due to opportunity costs.

Given the above, you have your money diversified between yourself, the bank, Wall Street, and an insurance company.

From there, I would focus on increasing cash flow and acquiring credit. Life at 6 figs can be great , but it can be all the better when you have a financial system custom designed for you (and not the banker, insurance agent, stock broker, money manager, et al). You should look towards optimizing your taxes as well at this time. Capital gains can be focused on after that cash flow gets up. My investment goals aren't so much geared towards retirement, but more so breaking even (debt free) and passive income (financial independence).

Eliminate your debt as rapidly as possible, there are some CRAZY techniques for doing this.
If buying a car, I would finance it through my own bank (whole life policy) after it is capitalized in a few years.
If buying a house, I, personally, would not do it until you understand banking, finance, lending, real estate with a touch of the Law of Contracts fairly throughly. Ideally, purchasing a house should be positively leveraged or neutrally leveraged. Negatively leverage is not great, but that is what just about everyone else out here is doing.

As far as investing goes, one has to do their own research and study. Personally, I've been hitting finance along with banking and insurance really hard as of late. Learn the difference between financial facts and marketing. In time, you can determine which investments truly work with your style of investing, personal philosophy, risk tolerance, et al.

Oh shyt I just seen this thank you bro. I’m saving a lot of these and putting them in a doc file as a lil guide

 

[The Radiant One]

Pay off your student loans while doing this max out your 401k. Then go to vanguard and get some mutual funds like VFINX or a target date retirement account and max out. Only invest in low cost mutual funds or exchange traded funds. Never buy individual stock.

Try to pay off your car as quickly as you can and develop a 3 month emergency fund. Don't think about going out on your own until 5 years.

Breh you have an opportunity to build wealth. Take it NOW.