There are no hypothetical financial questions if you manage your money well. Zippy. The math always pencils out. It simply does.
There is no more powerful metric than compound interest over time. One, as Tabs would aver, needs discipline and a readiness to build a nest before taking risks.
As an Ensign in 1984, I put $200 a month into a USSA growth fund. Still do. Amazing return...
See below, no better advice. The 'marry well' portion of the post is penultimate. Do that and win.
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Originally Posted by 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.
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