[LWJ]

First. He isn't really listening. So this is for other 19 year olds that will listen.

1) Live well below your means. Try to spend 50% of your take home. Invest the other 50%.
2) Leverage with an eye on risk.
3) I like real estate. If he can buy a duplex, triplex or four plex, do it.
4) Hire a property manager for the legal end but do as much of the maintenance as possible yourself.
5) Add to the mix every year but caution to being over extended. I think Oregon is at peak value on RE for a while. It is very pricey in Portland.
6) I am a big fan of buying cashflow. Working people will always need housing. Buy in secondary or tiertiary markets that have good infrastructure.
7) Work on your career. Investments are great but a career can pay very well which gives you more to invest.
8) Marry well. A sane spouse is a great investment. Divorce is a huge destructor of wealth. Best yet, marry someone with a killer career or portfolio.
9) Life -work balance. I could retire today at 52 but I still would be earning / doing something with my time. I have friends that are trust funders who loaf at home all day. I don't envy them.
10) Remember that children are costly.
11) Don't be a zealot. Your time on Earth is limited. Enjoy it.
12) Be a good human. Karma pays large dividends.