Build a 6 month emergency fund, invest part of your paycheck for retirement every month, and work out 3-4 times per week
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Build a 6 month emergency fund, invest part of your paycheck for retirement every month, and work out 3-4 times per week
It’s like you read my life right now. I really needed to hear this…
Thank you 🫡
That stuff seems minor in your 20s but your future self will be really thankful you began early
Get a solid skincare routine going too, do better than we did at your age, good luck! 💪
Also, if you start making more money later, don’t rush to level up every part of your lifestyle. You’re better off investing more while you’re young before you adjust to a more expensive way of living
If it doesn’t improve your physical and mental health, it can probably wait
If you invest $1000 today and retire at 65, it is expected to grow to $13,000.
If you put in $1000 today and $100 every month until 65, it’ll be around $275,000.If you put in $1000 and add $380 every month, you’ll hit a million. Your contributions will be about 200k, and the other 80% ($800,000) is from compounding interest.
I really wish I had put even 20 or 30 bucks a month into a Roth IRA or even a HYSA/money market acct. It would’ve felt like nothing and I’m still doing alright at 40, but those would have been some really nice chunks of money to have around.
Also learn to cook healthy meals and count calories. If you want kids, don’t wait until your 30s. You’re never going to feel "ready" whether financially or otherwise so do it while you still have the most energy.
Not a financial advisor, but…
Borrow “The Simple Path to Wealth” from your local library, it’s a quick read and will set you up with a solid strategy for a comfortable retirement. Max out your employer’s retirement benefits then take the five minutes to open a Roth IRA with Vanguard/Schwab/Fidelity or another low-fee brokerage. The people over at r/bogleheads are a great resource.
I’d recommend telling NO ONE about the emergency fund. People who care the least about your wellbeing will come up with ways to manipulate you out of it. (At least in my experience) They may not even be bad people... they just value themselves more than they value you.
Protect your health. Little toxins throughout your life can and will alter your DNA.
Also, repeating the point about exercise, but add progressive resistance weight lifting. Muscle mass has a HUGE impact on diabetes and Alzheimer's. Lifting weights is also a great outlet for stress, and a great way to build a non-work social circle as an adult once School and extracurriculars end.
And lastly, don’t trust random strangers on the internet. I could be an AI bot. Please verify things for yourself with a reputable source.
Oh this is solid advice! With the number of insanely bitter scammers online who prey on young healthy minds and mentally and financially scam them, this is important!
Also emergency fund - yes. I’d maybe use a broader phrase- financial independence. Hands down the most important asset for anyone.
There is plenty of research on “toxins”- especially on how when u start also matters heavily for your overall wellbeing and brain chemistry.
Good advice .
Yes, like the people who tell you to "live a little" and not be so strict with your money.
I learned the hard way that sharing your financial “safety nets” can bring more pressure than support, even from people you trust. On the health side, focusing on strength training along with cardio really does pay off physically and mentally. And yeah, double-checking advice online is just common sense; no one’s looking out for you like you are.
That last part is so true these days.
Xard
Seconding this. Start investing for retirement ASAP. With compound interest, time is your greatest ally.
My husband is a Financial Advisor and he’d agree with you 100%. Always pay yourself first and start younger than you think you need to! It’s much easier to save $1M for retirement in 360 small increments than in 60 massive ones.
DCA into a low-cost total market fund. Start with a 401k if you have access and your employer matches. Anything extra should go into a Roth IRA. Once those are maxed, put any additional investments into a brokerage fund. If you don’t know what any of those words mean, Google is your friend.
boring advice... which is exactly why it works
Esto es literalmente lo que nadie te enseña a esa edad.
Speak english
this is boring advice but it’s literally the stuff that saves people in the long run
6 months is a lot, but definitely necessary these days since jobs aren’t easy to land. Wish I had a fund like that available. Hell I’d be happy with one month.
You don’t need 6 months of your salary, just figure out your absolute necessary expenses and multiply that by 6
Also…Build discipline before motivation disappears. Motivation is unreliable
This.
Why don’t you start small, Mr Life Advice?
“Starting” implies small at the beginning
/thread
Yeah, start with your next paycheck: 50% to necessities, 30% to fun, 20% to investments. If you think that’s too much, begin with 10% to investment and start trimming expenses
That’s the blueprint, it’s just wild how doing the boring stuff consistently is what actually unlocks everything else
good advice across the board
This. Try to take care of yourself, save in a brokerage account for some “No Thanks” money (when you don’t NEED a job, you don’t feel as stressed about tolerating someone’s bs at work and can say “no thanks”