Financial advice

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>>1829495
This flow chart is better than any other advice you'll get here.

If you're young work 7 days a week and save as much as you can for as long as you can. Ignore all this wage slave meme nonsense. The only sure fire way to make money is to work.

>>1829660
Good advice, but I don't agree with working 7 days a week. That shit gets old fast.

Better yet save but have the skills to get a job that pays well enough to effectively save for early retirement and you still get your weekends.

>>1829664
It only takes a couple of really good years to set you up well for decades. Knew a guy who worked two factory jobs for 9 months at age 19 and he went from being your average broke dude to having paid off a decent used car with 40-50k in the bank.

Military members returning from deployments also fall into this category where they return to a large quantity of cash. Having several tens of thousands to invest when you're 20 puts you WAY ahead of the game.

how do you guys feel about the 50/30/20 rule?

50% necessity expenses
20% savings
30% personal spending

>>1829511
>wagecuck 101

>>1829824
Too much personal spending and who the fuck spends 50% of his income on necessities. Live cheaper save more.

>>1829846
If you live on 10k a year its 100% expenses.

>>1830174
>making 10k a year

Buy high, sell low

Or spend all your shekels on scamcoins. I'm pretty sure that icn guy is able to provide more informations on this matter

>>1830210
Don't you mean buy low and sell high you fucking retard?

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>>1830234

>>1829495
Do not try to get rich quick.
Have patience and save consistently.

>>1830279
My problem

>>1829495
Smart investments mean nothing when you're earning less than $40 per hour / $80,000 per year.

>>1829495
Only fuck married women without a rubber.

>>1829511
Good stuff. Can I just hire a financial advisor instead of reading all this shit? Genuine question here.

>>1830820
What do you mean?

>>1829844
Fuck off roleplayer. It's good advice for anyone.

>>1831052
Yea if you want to waste money. The flow chart takes max 5 minutes to read you mental midget.

>>1829660

Worst advice I have seen here in the last 6 months

>>1829511
As a financial planner this cheat sheet is pretty good.

Lacks some advanced stuff but realistically every citizen should be doing at least this depending on circumstance, it's staggering how financially retarded most people are.

>>1831091
Most people aren't doing any of this. Anyone doing most of it is easy top 1% financially literate. Pissing away money instead of making money work for them.

>>1829495
Don't buy things you cannot afford.

Buy ethereum

>>1831103
I'm Australian and yeah, 18/20 aren't doing any of this, makes it difficult to help most people because they seek help in their 50's like..."so how will I get $2,000,000 in assets by age 65?".....uhm...you're fucking not, should've thought of this 20/30 years ago.

>>1831066
I mean if you're squirreling away $5,000 per year into investments, at best you might return $500 before tax - but at what cost? You're sacrificing quite a substantial standard of living if on a low wage and for very little reward.

If you're at least earning a decent wage you can begin to 'invest' without sacrificing nice things AND have a greater return (i.e. if you save $20,000-$40,000 per year that'll grow into something worthwhile)

get rich or die trying /thread