Yep. S&P 500 index fund. Keep it simple.

Rental property Commercial, single and multi family residential.  
Ag exempt Land
Passive income of all kinds
Car wash makes money on Christmas Day
Laundromat same thing
Any stand alone business you can put together Where others can run it with little involvement From you.
Dividend stocks.

When you are young make it happen and you will be surprised what can be generated over 30-40 years
Have multiple paths to build generational wealth.

Most people don’t make it at work but how you use what you make will put you way ahead of the guy who makes a shit ton of money and spends it all.

Why did our nation survive the inflation of the 1970's?

Because debt to GDP was only 35%, we still had a massive manufacturing base, consumer credit was practically non-existent, and corporate debt was a mere fraction of what it is now. Rates had to rise to 20% to kill off the inflation caused by printing money for the War in Vietnam and the Great Society programs,

What does the situation look like today?

135% debt to GDP, hollowed out manufacturing base and an entitled, lazy consumer society, consumer borrowing is at record highs, corporate borrowing is at  astronomical all time record highs, stock valuations are near the record highs.

The Fed literally cannot combat inflation without nuking our economy and forcing the federal govt into severe austerity. If rates rise even to 3% this economy sinks.

But if inflation is allowed to run wild, you'll still likely lose on a traditional portfolio in real terms as was the case in the 70's when stocks declined by 50% in real terms.

This country is toast and anyone betting on a traditional retirement is going to be in for a very rude awakening.

The next 40 years are not going to unfold like the last. Every single indicator is flashing fucked, and yet some of you still believe in the almighty prowess of government and central planning to protect your stock bubble. Silliness.

Congrats OP, you lived through a fluke of history and now you're high on the Fed's supply as intended. You're experiencing the "wealth effect" from a central bank inflated asset bubble. Your paper wealth is intended to make you go out and consume because you feel wealthier than you truly are. Obviously a sustainable way to drive our fake economy.

Very good advice OP.  People should heed this advice.

More excellent advice.

More excellent advice.

I took Financial Accounting in college when I was 19 or 20 years old.  Professor said something like "I'm about to teach you something that can change your life."  Proceeded to teach us the calculation for "Future Value" and "Future Value of an Annuity."

When I saw the incredible wealth building power of small(ish) monthly savings invested over a 35 or 40 year working career it changed the way I thought.  I was absolutely certainly anyone with willpower and the most basic of sound investing principles could build the kind of wealth that meant a very comfortable retirement, and a very comfortable early retirement if you really worked at it.

The basic problem is inability to defer gratification, and a complete lack of understanding of the power of compounded returns.

Don’t forget HSAs if you have access.

Triple taxed advantage.

Again I agree with Spidey!
I spent my life doing and learning things that I wanted to do - unfortunately, I never had an interest in investing and I still don't today.
I retired early nine years ago, and with my 'next-to-nil' knowledge of how to manage my retirement accounts I would have lost most of it and be broke now without a financial manager.
I don't have millions, Fidelity manages my retirement and now nine years later I have more money in my retirement accounts than I did when I retired and I didn't have to lift a finger managing it.
For me it was/IS well worth the small percentage to have it managed.

Yup but try not to go all in at the top.

The 80’s also had this guy.
Attached File

Most of this is true, also don't be a sheep and if you ever see a cliff get out of the way as the sheep go over.

Buy Boeing.

Some truth here. Anyone going all in on stocks right now is going to feel pain. Look at the 5yr chart for the S&P and tell me with a straight face that is sustainable.

Stay the course and ignore the doomers in this thread.

I have to deviate a bit on dollar cost averaging.
So yes each month or pay period invest the same amount but it is pretty helpful to watch within that month and try to buy dips or at least not buy spikes.

Of course i only half follow my own advice on that. My tax advantaged account contributions are on auto each month. Its mostly in a less volatile mutual fund.
My regular brokerage and crypto i like to have a little fun with buy some riskier shit and buy dips. Same amount goes towards both sides each month though.

I suppose it's probably a bit silly as the professionals managing the mutual funds are probably much better at playing the market than i am but it keeps me a bit more engaged.

Long term Tax planning and minimization.  Once you have a good sized egg, tax planning is a huge deal.

Except I don’t consume more because I’m following my own advice for a while now.

As someone spidy is targeting with his advice I’ll go ahead and agree. He’s right.

Also, if you can take the time to learn about a hobby (whatever it is) you can take the time to learn about your finances.

I wish I hadn’t waited until my early 30’s to learn about the stock market.

Also, there’s still time to get in on MVIS before the big boom ??

I thought Spidey was half his age.

Lol, once your egg starts generating serious money you look back and think “man if I just saved a little bit more I wouldn’t be working”.

That’s 30 year hindsight and why I’m posting for the young’uns

Excellent Cliff’s Notes.

The full version I like to share is:

https://www.etf.com/docs/IfYouCan.pdf

Early thirties making a bit over six figures. Currently saving/investing about $4k a month.

Really good advice here.  I ready the Richest Man in Babylon a while back, and it has good principles.  Investing young (if you can, is the way to go), and 2nd best is starting NOW, not waiting, no matter the age.

However, is this not assuming that the stock market will be going on like it has for the last umteen years?  As someone noted above, the debt to GDP ratio is WAY blown out and manufacturing jobs have gone for a while.  You can't sustain an economy on the service segment forever.

While stocks/bonds/indexfunds, etc etc, are good for portion of the investing, what are those things that you can use to hedge against a stock market loss - or more realistically, inflation?  

Land? rentals? owning and manufacturing something necessary for everyone?

Just like the religion posts some people hate to see (but are important) this is one that needs to be posted and reposted again and again.

22-25  $5,419
25-34. $26,839
35-44. $72,578
45-54. $135,777
55-64. $197,322
65+     $216,720

Listed above are the average 401k balances by age group.   I’m not sure how anyone thinks they can retire with those numbers.  So many people put it off until it feels like it is too late to start.  As noted, start early and put in some real contributions each paycheck. At an absolute bare minimum put in whatever your employer will match dollar for dollar.  That might be 4-6% for some and maybe 9% for some really lucky folks.  Also look at what funds you are investing in.  Pretty much all 401/457 plans give you a choice of which funds you want to invest in.  Some have higher returns, usually accompanied by a higher risk.  The whole risk/reward part comes into play.

For the average worker, you can put up to $19,500 pre-tax into your 401k/457. Yes there are exceptions if you’re over 50 and some other really high earners, but for most Americans it is $19,500.  That is pre-tax.  You can also buy stock, invest in real estate and all kinds of other stuff to make your retirement years even better above and beyond the $19,500. Making contributions even on a 401k/457 will lower your tax liability and give you something to look forward to…a real retirement, not just working forever.

GME thread?

If all you are doing is maxing your roth and 401k match and never really selling anything you don't need a pro until you are looking at switching your millions to a more conservative strategy and doing backdoor roths and estate planning and shit.

How is that bragging? This is just common sense advice.

People, especially young people, should (ideally) be saving at least 15% of their pre-tax salary. Keep it simple and put it in an S&P 500 or total market index fund. Do that for ~25 - 40 years (depending on your income, spending habits, investment success/luck, etc.) and you'll be set.

Wish I had done this much earlier

The bot speaks

I make 7 figures too.

I have to disagree with all the advice people throw out to "just throw your money in an index fund."  That is BS advice designed to minimize risk.  Index funds are for boomers who still think it is 1980, with GE and XOM ruling the world.

You know how you get rich over the long haul?  BUY TECH STOCKS AND HOLD THEM FOREVER.  I'm a perma-bull like spidey, in this area (mostly because I work in IT and see it every day).  Microsoft, Apple, hell even Adobe...they're all up between 290,000% and almost 300,000% since their IPO back in the 80s.  Amazon is up 190,000% since their IPO in 1997.  And they're in so many sectors, each one is practically an index fund by themselves.

• Microsoft is in enterprise software, cloud, home stuff, hardware (Surface), gaming (xbox and accessories).  With Azure and 365 they're going to have recurring subscriptions out until infinity.  Last quarter they brought in 182-million in PROFIT, per day, every day.


• Apple sells so many devices that last quarter, they brought in $241-million in PROFIT per day, every day.  They're in the phone market, the tablet market, laptops, desktops, steaming/TV, apps, enterprise stuff (as much as I don't want to admit it).  They sell about 141,000 iPads per day.  In 2020 they sold just over half a million iPhones per day.  You know Airpods?  They're a $6-billion/year side-business for Apple.  Apple is a money-making machine.  I'm talking, Scrooge McDuck style of jumping into their money.


• Adobe -- Creative Cloud is the only professional creative editing suite.  Nothing else compares.  That shit is expensive (and they're on a recurring subscription model) and if you're in a creative field, you need it.


• Amazon -- They have their claws in everything.  Hell, something like 1/4th of the internet runs through AWS.


• Google -- same.


• TSMC -- Taiwan Semiconductor Manufacturing Corp, if you've never heard of them. They make Apple's CPUs, plus a ton of other contract work.  Computers are in everything these days and they're only going to integrate into our lives even more over time.


• nVidia -- enough said.  Up 49,000% since their IPO in 1999.


• Tesla -- don't bet against Musk. I know a lot of you guys hate him but he's changing the world whether you like it or not, and electric vehicles are going to be huge soon (hell, they're already selling like hotcakes).  Plus he also has SpaceX and Starlink.  Everything he touches is worth bajillions of dollars.  I watched a multi-hour interview/walkthrough of his SpaceX facility in Texas, and it's obvious he cares an incredible amount about his companies and knows super intricate details about the tiniest parts of his businesses.  Dude's a genius.  If SpaceX or Starlink ever IPO I'm throwing every penny I have into them.

I understand that index funds are there to minimize risk and make it easy to invest.  BUT, they do have management fees (albeit very small, these days), and honestly, they're boring as hell.  Just look at the charts below - they're from Google Finance, which makes it easy to compare stocks over the long haul for their total return since IPO, in case anyone wants to do their own research.



Since Apple IPO'd in 1981, they're up 298,000%.  MSFT IPO'd in 1987 and they're up 292,000% since then.  Adobe also IPO'd in 1987, and while I don't have them on this screenshot, they're up 289,000% since then.  Amazon IPO'd in 1997 and they're up 190,000% since then.  Compare that to the S&P500...which is up 3,300% since 1981 (chart is a direct comparison based on oldest stock's starting date).  You see that tiny yellow dot practically next to 0 on the graph?  That's the S&P500 line.  Compare that to the orange and blue lines.



Even over the past 5 years, if you're put your money in Apple, Microsoft, or Adobe, you'd have 5x-6x as much money, whereas if you'd just put it in an S&P500 index fund you'd only have doubled your money (which still isn't bad, but 2x is a lot less than 5x).



Hell, even Target is up way more than the S&P500 over the past 5 years, at a 272% gain instead of a measly 105% gain.



Over the past 5 years, TSLA is up almost 1,500%.  They IPO'd in 2010 and they're up 18,500% since then.

Reminder: boomer stocks like GE and XOM are fucking worthless.  Invest in something that is growing and will change the world.  TECH.  At one point in 2000, GE was up almost 25,000% since their IPO.  They've done nothing but slide backwards for over 20 years now because they can't innovate.  Fuck 'em.  Another boomer stock, PG, is up 6,400% since their IPO, but only up 64% in the past 5 years...they're not even keeping up with the S&P500.

XOM?  $66-billion in quarterly revenue but only $4.7-billion in profits...seriously a 7% profit margin.  Compare to MSFT: $46-billion in quarterly revenue but $16.4-billion in profits...35.6% profit margin.  Apple -- $81.4-billion in quarterly revenue, and $21.7-billion in profits.  GE?  $18.3-billion in quarterly revenue and they posted a $1.1-billion loss.  How the fuck...?!

No...

It is a good idea...
The poors have to be stopped.

Here's what I suggest, only because I have young bucks that work for me.

1. Your 20s are for stacking cash.
This ain't the 60s 70s. Most employers require a degree.
If you must obtain that piece of paper, treat college and your career path in terms of ROI...
Most fuck up and see college as an extension of highschool, but with free/cheap booze/partying.

2. Whatever your career path is, trade/vocation...
Master it. Ask questions. Always show the older guys respect. If you have friends that work in the same establishment? To hell with them, you're there to make you money. When 5 rolls around Friday, let them go to the bar to piss their pedantic paychecks away. Chances are, most will still be living with mom and dad and have that buffer.
If you live with your parents post college, toss em a few bucks to show appreciation, stack cash to buy a house. Don't ever go for some goofy assed mcmansion or brand new. And try to get the owners to hold the mortgage for you (private sale owner financed) and pay double-triple.

3. Dont knock a chick up on a pull out couch.
Again. This ain't the 60s-70s. I know dudes from divorced parents, Thank obama for this one, you're no longer on the hook for 18 years...
Parents with kids, are on the hook for health insurance until age 26

4. Houses are not investments
I don't give a rats ass what boomers and suburbanites say.
Your residence/domicile/home? IS NOT AN INVESTMENT. It costs $$$$ in property taxes, maintenance, insurance, utilities. You work hard for your money. Fuck trying to impress others with a flashy house. Your costs of living should be as low as possible.
A small 2 bedroom 2 bathroom 3 bed/2/3 bath, rent the room out to your dummy friends if you must and have THEM pay the mortgage and utilities.
Short dick the tax man. If you knew what property taxes helps fund, you'd all be letting lawns grow like hayfields, a sprinkling of junkyard bound vehicles as lawn ornaments. Let retards fund their demise trying to be impressing others. They need Muh property valuez to go up so they can get out from under a chintzy built mcmansion to break even if they're lucky, post taxes/capital gains.

5. Avoid credit cards and car loans like the plague
But Muh credit scorez!
Buying power is not some arbitrary make believe consumerism driven #.
If you can't buy it today, what the fuck is the point in paying interest on it?

6. Don't do shit to impress others. Don't be a follower of trends.
While your goofy buddies are out pissing their paychecks away making bars/clubs rich? Make yourself rich.
While they're out being poors buying shit on credit to impress each other, one up each other, or impress a girl? Impress yourself with what your take home pay is. Rural America gets it right, we buy a 30 pack at the gas station and drink by a bonfire with a radio going for pennies on the dollar opposed to bars/clubs.

7. All days end in Y, Y are you not working?
I had expensive hobbies (and wasn't here) AND my own house. I wish I had the money I spent on racing stock cars today.

BUT. I worked 6 days sometimes 7 days a week. I was also paid based on production. (Flat rate/piece rate)
Office rats, desk pilots do the 9-5 drone thing. Fuck that.
You absolutely can be "in the building" per (thanks to obama and biden) the "minimum" to have health insurance via employer, AND hit your $ AND have a 3 day weekend. Only weak willed spineless fucks will tell you boohoo work wears me down, it will burn you out
Under achievers are fine with Muh 40 hourz! Muh 2 weekz paid vacationz! Fuck that. Trade the vacations and unused sick days for money.

8. Your driver's license is gold
DON'T! Under any circumstance. DON'T DRIVE DRUNK!
No license for many these days = no job. No way to get to work = no way to make money.
Once you're in the system? You're in the system. And it's next to impossible to get a good job unless you've mastered your skills early on and can go into business for yourself.

9. Following that, YOUR REPUTATION is EVERYTHING.
Be reliable. Be the best. Always give your best. Know your worth, don't be a yes man/do bitch.
At 22/23 I was telling management to go fuck themselves I'm not doing ______. Even if it paid a million dollars.
I commanded my terms of employment. Not going to pay me what I desire? Paid time off that I desire?
You're not the only employer within driving distance. Nor are you the only employer chomping at the bit for me.
There is ABSOLUTELY no need for a fucking union. Why am I going to pay some commie like entity... part of my $... to "negotiate" my terms of employment...
When... I can use my words and get it for myself...
Mechanics/techs TOOL BOXES HAVE WHEELS FOR A REASON.

10. I touched on living expenses before.
You need to sit down and maths you a budget.
$ time.
We will say your take home pay is (after taxes and health insurance) on average 850 per week, at 20/21.
That's $3,400 per month.
That 900-1,100 sqft "fixer upper" is perfect. Taxes won't be shit.
Gas/diesel is a living expense. You need to: establish yourself within a place. And have a side hustle. And calculate fuel 40% more than TODAYS prices.
You absolutely can live "in the boonies" and drive to work. I did it for 4 1/2 years. 52 miles to and from.
All tolled your living expenses per month at MOST should be no more than $1,400 per month.

If the property taxes are 900-1,500 per year?
That's $79.17-$125 per month rent to the tax man, to pay for others to be bums on welfare, to pay union/pension lackey bureaucrats, and pay for other retarded good feelz things.
Small house = cheap to heat and cheap to cool. Know how suburbanites cunt and cry over Muh property valuez and be retarded with confusing inflation for Muh equityz? Real equity = putting an upfront investment into that little house via insulation. The better it's insulated? The cheaper it is over time to heat and cool it. That's REAL equity. Not stucco. Not 12ft tall doors. Not crown molding and baseboards with seconds/cheapest subcontracted granite all the things.
Utilities-Gas/Heating oil/Electric: should be no more than $125-150 per month if solo.
Food. Eat good-work good. Buy in bulk.
Fuck the grocery store. Go local/direct to source. Get you a freezer piled high of steaks, chucks, and prime rib.
Hygiene. Again. Buy in bulk.
Insurances. House and vehicles. Don't be afraid to call around for the best price to coverage ratio possible.
Vehicle.
You absolutely will save a ton of money with doing everything maintenance and repair wise yourself. However.
Fuel is not a constant. It is a variable.
Insurance goes up. Fight it. Clean driving record? No accidents? No tickets? NO you're not getting more money out of me.

If you bust ass at work, you absolutely can live for pennies on the dollar, and not worry over what retards on social media or in dah burbz piss their money and time away on. Remember. Those retards are 9-5 drones. They have to work 5 days a week.

What you need to do with that budget, is Pay yourself.
That nifty new phone? That flashy new truck? That awesome toy? (Boat, jetski, snowmobile, quad, dirtbike, weekend car, project car, race car, Bad ass bike) Can fucking wait, NOR be brand new! You won't die without it, I promise!

If you get $ set aside, no reason you can't do both-work hard, and invest.
If you look at $ honestly. It's a vehicle to get you where you want to go and need to be.

Money makes the world go round.

Do this right? By 25. You absolutely can:
Own (not finance) a house.
Own (not finance) a new truck/car.
Have the toys.
Have epic 3 day weekends. Or use Friday you would have spent making your "boss" more money, to make YOU more money, and under the table.

Remember.
You're out there for YOU. Not your friends, not some ditz, not to make bars/clubs/etc venues $$$.
Some will surely say-Reee antisocial!
Fuck that. There's nothing anti social about putting yourself in a better path, to make life far easier later.
The human body slows down come mid 30s...
Pull your 16-18 hour days in your 20s, so you can drag by in your late 30s+
Know your worth. Don't ever be afraid to use your words, and follow with action.

There's 5 types of people you'll meet in life.
Fuck ups-always have an excuse for everything.
Boss-big ol sack of shit that needs you, more than you need them to make his bonus.
Blow hards-I'm so good... I'm the best there is, best there was, best there ever will be! Yet... they and the boss both could fuck up a wet dream.
Brown nosers-This ass kiss could give the boss a colonoscopy if they stopped short. And often times both the brown nosers and blowhards HAVE TO point out their flaws in others, and go stirring shit with the boss acting like they're doing the boss a favor and should be rewarded for being a ratfink.
Fuck those 2 assholes. Ignore them. Let your work speak for itself.
Workers-Be this guy. You know your strength, your weakness, your responsibility, and your worth.
Don't ever be afraid to say No to the boss. Don't let the boss's scheduling problem, become your problem.
Don't be a do all brown noser. Be a company man within reason. Fuck the company, you're there for YOU and you only.

You won't need to brag about
How good your work is/final product is.
How fast you got it done.
How much better you are at A,B,C, than so and so.
Do this right? I promise your name will be good as gold. Your reputation is far more important than your employers.
Half of my side work? Was half of what my former employers cash paying customers.
Why pay my employers @$150 per hour... and a 35% mark up on parts... when...
You can pay me $85 per hour on a Saturday/Friday off.
(Don't repeat this to the customer)
Use my employee discount on parts, for my mark up, still coming in LESS than my employer.
So I can make the $100 per hour (markup+labor)

3 things absolutely are investments.
Education.
Tools.
Experience.
You don't get what you need in school. So don't be a retard. This whole... graduate highschool and jump right into college... that's the most pants on head retarded path in life ever.
They all don't prepare you for reality. They sugar coat shit and make it seem as though without that campus's degreez, you won't make it.

To be honest. College is a used car salesmans scheme. I know folks who graduated from fucking community colleges, 13th grade whose education expenses were peanuts in the grand scheme, and for that? Make more than their ivy league counter parts.
How? Dat student loan debt doh.

Some of the ivy leaguers (this isn't the rule nor the exception, it's called dorm life) fucked around and found out... 4 year for a piece of paper. Flunk 1 because partying and chasing women.
Now that's 5 years...maybe 6 depending if you can get back in the classes you flunked...

Again. Don't make the bar and social venues money. Same with college. Don't make the college money.
MAKE YOU THE MONEY.

You only have 1 body. Do not become a prisoner to it.
Don't get fat. Life is hard. It's a hell of a lot harder being fat.
Don't skimp on taking care of yourself. What you do now, affects you 20+ years down the road.
Eat good. Stretch. Lift heavy shit. Twist and bend like a cutie doing yoga. Make at least one day for walking/jogging/running.
There's nothing cool, or cute about the beetus. I watched it kill my father and reduce that man to a fat, pain filled, sucking wind, hollow shell of what once was.
Everything in moderation. Beer = fat. If you're gonna drink. Be smart. Limit your intake of delicious foamy fattening intoxicant.
Besides. The hangovers in Florida fucking suck. Your weekends should be fun and exciting or productive and enrichening. Not spent hugging the porcelain throne, calling to the dinosaurs. Laid up in bed with a roaring migraine and the sweats. Fuck. That.


Mid 20s.
Here's where you can afford to slow down a little, work wise.
By 25/26 your first house should be paid for.
If you do as I say and did? By short dicking the tax man, you will have taken your savings and pumped them into REAL tangible equity, within the INSIDE OF the house.
Who gives a shit what it looks like outside. You don't live outside.
That fucker is insulated.
You let the exterior look like the Beverly Hillbillies live there.
No reason you can't go buy a saw, and a slab of granite and do your own damn counter tops and island.
No reason you can't go buy your flooring and a router for crown/baseboard/interior trim.
No reason the inside of your house isn't fit for royalty.
Short dick the tax man.
Insulate that fucker.
Put the money inside the house. Flaunting = tax man taking more. Fuck the tax man. He's not your buddy. He's a dirty commie heathen that wants you to work harder so he can redistribute YOUR wealth to shit bags that abuse good feelz programs at state and federal level. Probably even give his cousin/buddy a bidded subcontracted job locally/state.
Fuck the tax man. Fuck outward appearances.
Know that phrase "sleeper car"? Well. This is that, applied to housing.
Only instead of stock appearing/grandpa sedan/coupe appearing but goes like a raped ape...
This is, incognito poor projection We do taxes back asswards.
Trailer parks and ghettos pay shit for taxes. Dumpy "bad neighborhood" "other side of the rail road tracks" etc...
Pay minimal taxes. Yet. Receive the most benefits...
Why. WHY IN THE FUCK DO YOU RETARDS IN DAH BURBZ WANT TO FLOAT THAT SHIT!?

Does anyone really sit down and look for what their tax money pays for? Or am I the only one because growing up in ny and seeing the rampant corruption and abuse...
I promise if ya'll learned how property valuez worked against you... You'd all be parking 2nd/3rd Gen camaros on fucking blocks.

So mid to late 20s you can slow it down a little and work at a comfortable pace/rate.
Throw money in real investments (it's not just stocks, bonds, options, 401ks, IRAs)
One man's garbage. Is a talented man's gold.
From 12/13 years old, right up until my last day in ny.
I was constantly buying fixer upper cars/trucks, dirtbikes, quads, snowmobiles, jetskis.
2 stroke > everything 4 stroke.
Ain't shit to put a new piston, ring pack, wrist pin bearing in.
Ain't shit to clean and rebuild a gummed up carburetor.
Shit. Splitting the case if need be to put new bearings and seals in is fucking simple.
Buy that low compression YZ/KX/CR/RM 125-500.
Buy that low compression Rotax sled/ski.
Pay 500.
Throw 500 in mechanics, (chains, sprockets, pistons, rings, gaskets, seals)
Throw a couple hundred in new plastics on it. New handle bar.
That's 750-850 out of your pocket in 1 Saturdays time. Sell that fucker for 2k.

Cars. Trucks. Same.
I used to hop over the border to CT and MA where they failed for body rot. Grabbed many a cheap plow truck and Subaru. Some! Some even had new tires, brakes, front ends within a years previous time! Picked up for scrap prices. Brought to ny.
Registered. Drove. Flipped for 2-8k without putting anything into it except a junkyard fender/door or two.

Put that money to work for you later.
Or.
Buy that toy you want.
Go to that awesome get away for the weekend or week.
Fuck putting shit on credit.

Early 30s.
If you peaked at your pay? Fuck them. Go work for yourself. Make you MORE money.
You absolutely can be blue collar taking home white collar pay.
And when you get tired of white collar pay? You can get you golden parachute pay going in for yourself...

If you do... I'll be honest with you. Speaking from my personal experience.
Having a business is what I figure, being a parent to a special needs kid is.

Hear me out.

You're going to have BOTH customers AND employees at the SAME time bitch.
You're going to do everything in your power to see it grow, trade time in for a more rewarding fulfilling acconplishment.
You're going to have okay highs, and really hard lows that no fucking business school teaches you how to solve/fix.
They crank out retards that only know Muh cost savingz and fire everyone hire fresh/new, trim Muh fat.
But this? This is your baby...

You don't have the luxury of corporate commie Muh cost savingz. Muh fat trimming. No useless sacks of shit middlemen "managers".
Know why they're called managers? They manage to piss off customers and employees simultaneously. All while coming out smelling like a rose on the other side with the consistency of death and taxes.
Fuck them.
You don't need some business school lackey to ruin your established reputation.
This actually happened. And is why I don't have a manager working under me.

-Oh. But boss. I got so and sos _____ done 1 day sooner!
To what expense did you get it done?
-What do you mean?
You thoroughly pissed one of my better guys off, by almost over promising and under delivering. You think I didn't work with these guys before you came along? You think they don't have my personal number? You think you can just make shit up as you go along? And do it at the cost of my guys in sweat, blood, and money?
-BUT BOSS! IT GOT DONE A DAY AHEAD SCHEDULE!
No buts. You screwed one of my best guys, Made it so 1 other had to jump in on it. I see you split that job 2 ways. A good paying 1 at that.
You kicked dude 1 in the balls, and got dude 2 to bitch because you pulled him off of a big great paying labor intensive job, to "bail out" dude 1. Now you have those 2 quarreling over pay.
BUT I GOT IT DONE AHEAD OF SCHEDULE
No. You didnt. They did. The fuck do I need your stupid ass for? If anything? That big job dude 2 is on? Should have been split. But. It wasnt. So.
Here's what you cost me.
A shop that runs smoother than a Swiss watch.
2 guys that are loyal and will jump for the moon when I say jump.
1 customer leary something got done in 2 days when I promised 3 to buy them time and accounting for Murphys law, and so the dude doesn't have to pull a 14 hour day, or split it up with someone else. You? You got lucky they work well together. Ever hear of too many hands in the pot spoils the stew? Well. That happens.
You made a decision without consulting me. This is my business. I built this. Not you. You however will destroy this. If this is what they teach at business and accounting? You need to demand a refund. You're fired for undermining my operations and causing me to pay out of pocket to 2 of my guys and cause me to return and personally go over the customers vehicle with them watching me like a hawk to double check everything.

Fuck managers.
I don't need them. I estimate for the worst case scenario. Buy the guys a little extra time. If they don't need it? It comes off the bill.
This fucking dummy? Pfft. Absolute desk pilot. Kicked that fucker out in 4 days. Paid him for 2 weeks he only "worked" for 4 days. He knew what my expectations were. He knew what my operations were. Go against that to try and impress? Get the fuck out. I groom my employees to be every bit as good as I am and always encourage them. Not kick them in the balls and make them kill themselves for some retard in a cheap suit.

If you're truly wise...
Don't get married young. Don't have kids young. Establish a trust.
Buy the house. Put it in a trust.
The guns? The boat?/toys? Trust.
On paper? You don't own a fucking thing.
Can't take what isn't yours.
You're just an executor. Pay the trust for the property taxes and utilities.
Do it right? You can sit back and laugh at retards in the rat race, trying to champagne life on beer budget.
Beer life champagne budget = retire at 40.

Be an opportunist.
Don't be the nice guy . Don't be afraid to prey upon others stupidity, ill fortune, and laziness.
There is money to be made fucking everywhere!

Prime examples.
Living in upstate ny, we got hammered with lake effect snow storms that shit 3feet over night.
Most folks needing to get to work paid 20-50+ to have their driveways and mail boxes cleared.
Take money from the roofers and gutter guys. Ask after you've plowed their driveway if they want you to snow broom their roof so it doesn't do damage. Come back later and do it. 1500 sqft house =$200. 2k=350 3k+ $500.
Have dogs? Want the backyard cleared so puppers can shit? $100+
Call the boss. Tell him it's coming down bad. You'll be there by 9. He'll tell you most called out and waiters called to rescheduled, but if you're like me? There's work waiting for you. Just covered in snow is all.

Was nothing to get up out of bed at 4am. Make coffee. Hop in a ratty clapped out plow truck. And have a glove box with 2k for only 4 and a half hours worth of "work" and have additional $.

Pay attention to the Muh happy wife happy life crowd.
Must sell, wife says it has to go.
Cut him out. Talk to his nag. Grab that boat, that hot rod, that brodozer, that mustang, that camaro for peanuts.

Old guy losing vision? Has the beetus and because nueropathy, can't hold a bike up?
I bought a wide glide for 6,800 that had only 480 miles on it. Like brand new condition. Ol boy couldn't hold it up. A bike that fetched 15k used. 6,800.
I beat the piss out of it. Why? Because I can sell that fucker tomorrow for 10-12k and be ahead.

Little johnny did bad in school? Dirt bike/quad/snowmobile/jetski has to go.
Pennies on the dollar flip for an easy thousand.

Winter beater needs $ to pass state inspection? GET IT as long as the frame and sub frame isn't rotted out. Grab that fucker after work.

Doesn't snow in Florida but, most are too lazy to mow their own lawn. They'll pay others to be out in Dantes humid inferno. $100+ per cut. Easy fucking money. And with mcmansions on almost every vacant inch? Sheeeeeit... less than a quarter acre worth of grass to mow It's easy money because lazy fucks won't want to bother. (Especially if they're recent transplants or retired)

There's even driveways to power wash and seal coat too. It's simple.

Building boom right now, right?
Okay so. There's a shortage on skilled trades.
Also. What's gonna be bad for Florida but great for me?
When the music stops. Mcmansions for pennies on the dollar again. Muh equityz crowd gonna find out exactly how right I am and how wrong they are when they financed 400k for something that cost 180-225k to build to pay NY level property taxes.
Lose it to the bank.

DON'T BE A RETARD! DON'T BUY IMMEDIATELY FOLLOWING A FORECLOSURE.
Let the banks sit on the fuckers for a couple years... That's yards that need mowing. That's 5-12k in annual property taxes the lein holder/lender has to pay! That's liability/negative equity for the banks! Stupid should hurt. Raise hell with town code enforcers office. You've got snakes in your yard. Winged death building nests around the place. Can't mow/weed whack by the fence because Winged death. Make that a "nuisance property" and cause the repo mcmansion to be a costly thorn in the banks side. And buy that fucker for 50 60 80 100k! Add 3 to your collection. Air BnB them. Stock pile them. And use them as rentals. There's Muh equitzy. There's Muh housingz an investmentz! Rent a pool house out where I live? 300 per night.
Bros. That's 1800 per week. Holiday weekend/weeks? Triple that. Command your own price. The wine fueled traveling fur baby obsessed up nawth will want their happy wife happy life retards to take them to tropical pool house to get shit faced pool side and take selfies for Facebook/instagram/snatchchat... AGAIN. PREY UPON THE STUPID.

T-boned/rear ended truck/car? As long as the cross member didn't kink up and crack the bellhousing/transmission... pull the engine and trans. LS and angry snail for a C10 or S10. Fill the carcass with scrap rotors drums cracked blocks/trans... haul for scrap steel.
Did just that with an Express 2500. Pulled the good engine trans PCM and harness for a C10. Even has AC compressor etc.
Piled rotors and drums floor to ceiling.
Had a good straight rear diff, that I swapped into a customer's box van, that the pinion races spun (over loaded, burnt gear oil absolute catastrophic failure) put the nuked rear in that, chocked the wheels. Gutted the seats (like new) for customers van too.
Even welded in a plate between the frame rails for brodozers that wanted fancy full sized matching spares, factory steels jammed through the trans tunnel and engine bay with a couple nuked 4 pots. Laid a couple junk transmissions and rear diffs across the floor where the driver and passengers seat was.
3k in scrap. That fucker was HEAVY. Made my duramax grunt and trailer squat.

There is money literally everywhere. Use your eyes. Find it. Get it.
You ideally should spend your teenage years working with tradesmen, your father, and your friends fathers that own businesses/farms.

I used to pick apples at an orchard when I was 12 13 Get 300 to fill a crate. All the apples I wanted.
I paid 2 friends 50 a piece to pick apples with me. We'd meet up on our trail with dirt bikes.
Do it after school/on weekends.
It's nothing to climb a tree. Toss apples into the crates.
200 for me per crate. 100 for them. They thought it was good because that was dirtbike/quad money. Parts/gas.

There's money everywhere. You just have to find it. Be ambitious. Get it.
Suffer now so you can have it easier later. Those retards on social media? False idols. Alot of them that my young bucks look up to... wouldn't be where they are if they didn't have daddy's money/the cushion of living with mom and dad making videos/postings to instagram/twitter.
Jokes on my young bucks. Their views = their false idols $.

Shoes were put on the other foot... they wouldn't be able to walk a day in my young bucks shoes. Most of their friends have mommy and daddy's money...bought and paid for vehicles, still living at home with their parents.

I agree and that’s actually what I do. It’s a mix of “get both”. Tax deferred 401k//457 is all us index funds, super low fees. This is the “safe” investing. I was trying to cover the basics for young people to get them started. Also sp500 index funds have plenty of tech, it’s their largest holdings.

Then there’s the brokerage account which has more risk with all individual stocks and very,  very tech heavy. Buy and hold, and keep buying at regular intervals. Ours auto buys every week pulling a set amount from checking account. Set and forget.

I forgot to mention the most important part…know the funds, their objective/risk, you’re buying and the fees.

Holy shit, dude.

Brevity has value.

I'm assuming doing Adderall is on this list somewhere?

I'm convinced that Spidey has 2 accounts and a split personality. This is his alter ego.

All that.

Also, if you don't have a family/wife you don't need to live in a nice neighborhood. I socked away so much money living dirt cheap in a somewhat ghetto hood. My living expenses where around $750/month for everything including a not completely terrible three bedroom house.  Took me something like twenty years to break the 40-50k income level but when I did I a had liquid six figures and a funded investment account. When the market crashed in 07 I dumped that liquid money into the investment account.

Everyday I debate walking away and getting a job as a door greeter @ 40 years old. Feels good man.

Land isn't horrible if it's good land and you have a plan to turn it back into money when the time comes. And it's just a part of your plan.

Renting out property requires a lot of engagement. Potentially your entire life can become a Nathaniel_Hawkins thread. And the last year or so had shown what a bitch landlording is when the courts refuse to enforce straightforward contracts. There are people who can make a good go of it but it's not a side hustle by any means. I tried to treat it as one and lost some hair and some money until I threw up my hands and walked away. In theory,  owning shares in an REIT or an index fund of REITs gets you a lot of the benefit without the direct hassle,  but i bailed from those too a year or so ago when it looked like WFH and eviction moratoriums were going to drain the profitability out of them.

In theory, well-chosen stocks are how you get ownership of the manufacturers of stuff people need. The trick is choosing well. That's Warren Buffet's approach: buy a stake in whoever makes the razor he shaves with, the railroad that carried it, etc. He has bad politics and worse friends but on the topic of making money I'm inclined to listen to him.

ETA: apparently selling cocaine to HappyLife_NoWife is also what you seek.

That's the first time I have ever read every word of a wall of text!  I enjoyed it!  You're right!

Where were you 30 years ago when I was destroying my financial future with reckless spending?
I'd probably have listened.

I have been getting a lot of use out of this lately. It's not rocket science, just pick a fund with a good track history and put money in it. If you want a product that you don't have to mess with, adjust as you age, and rebalance just pick a target date fund that matches your age/retirement age.

Keep a minimum six months of living expenses in a savings account in addition to what Spidey says.

Life is so much less stressful when you have that cushion.  

Don’t ever dip into it for an awesome deal on a toy, or a once in lifetime vacation opportunity.  Only dip into it for an emergency auto repair or dental catastrophe, and if you do, pay it back ASAP.

The idea is that it’s there so you can stay a float for a while after you lose your job, and are still looking for employment.

Agree one should have a rainy day fund, but once funds are deposited into a bank/S&L/credit union, it's not yours but the institutions.  Per the Dodd-Frank Act you are an unsecured creditor.  Like Market Holidays, Bank Holidays can happen.  I hope neither happens.

Besides, how you save determines if you saved anything.

Get the shortest mortgage you can afford. I started with the "usual" 30 year mortgage, then refi'd with a 15 mortgage after 5 years and paid off my house 10 years faster. The difference was only $100 a month, but the cash from not having a monthly house payment was golden.

Concur with this too.  Git that monkey off your back.

Roth IRA can act as an emergency fund. You lose out on returns because you sell/withdraw but it’s a nice way to invest and have a safety net for real catastrophic issues.