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/biz/ - Business & Finance

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15428466 No.15428466 [Reply] [Original]

What are the most responsible and sound financial decisions you can make in your twenties? This is not an invitation to post shitty alt coins. Just a thread for sound financial advice for all.

>> No.15428486

>>15428466
Rent should be no more than 30% of income
Your primary goal should be to get on the housing ladder ASAP
Women ain't shit, don't waste time and money chasing them

>> No.15428501

Education is invaluable. Get as much as you can when you are young and have energy, go into debt if needed, you'll be able to pay it back once you settle into your chosen career.

>> No.15428503
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15428503

buy chanlink faggots .

>> No.15428504

>>15428466
Start working immediately at 18 or go to college for a non-meme degree and spend the first two years at a community college. Staying with your parents is fine IF you're doing it to be able to put shit tons of money into savings. With a mediocre job and staying at home you could be putting $1,000+ a month into savings or investments. Do that from 18-24 and you have $72,000+ in cold hard cash.

Start saving and investing as soon as possible and as much as possible.

>> No.15428512

>>15428486
So much this!
Fuck i wasted so much money on rent over a decade and chased women who turned out to be shit and shallow. Ironically met the love of my life once I stopped chasing and actually concentrated on my own well being.

>>15428501
Fuck off boomer. Never get in debt

>> No.15428551

>>15428512
I think all the advice so far other than the cryptokid I muted is pretty viable. I look at my old man who got his masters a little bit later into life and it really did him justice. Don't give the boomer so much shit. Education isn't that bad.

>> No.15428575

>>15428551
Sure. If that's your thing go for it. Debt is not for me. Also everything i ever needed to learn was free on the internet. Not trying to sound edgy, but some people just can't put themselves to work and need to be spoonfed which is what college does. Just learn computer sciences, machine learning, ai, hell even biotech. Guaranteed next gen stuff

>> No.15428588

>>15428575
You won't get a job with Apple, Google, etc if you are self teaching yourself machine learning, computer sciences, or ai though. Kudos to you for being resourceful but you miss out on a lot imo. Like you said though, school isn't for everyone which I also agree with. There's just a whole other lane to explore that I think you're being a little rash about is all I'm saying

>> No.15428625

>>15428575
Most employers aren't just going to take your word that you have a full working understanding of biotechnology though. Besides studying at a college provides far greater resources for learning than Wikipedia

>> No.15428644

>>15428625
Most tech jobs ask you a lot of straight forward questions about the job at hand. He could probably land a decent tech job if he is actually as resourceful as he says, but he would be competing with people with education which would rule him out of a lot of cushier positions at more prestigious companies.

>> No.15428694

>>15428644
You have to get past HR first to even get an interview. If you have no degree and no years of real world job experience, they're gonna skip right over your resume.

>> No.15428784

>>15428588
>>15428625
I am almost 40 now last job i had was when i was 19
I guess it really depends on what you want out of life. I for one will never work for someone else

>> No.15429414

>>15428784
How do you make a living? Or are you a NEET at 40?

>> No.15429523

>>15428575
That’s what I’m doing. Learning to code for free. Wake up boomers... technology isn’t going away. You are.

>> No.15429689

>>15429414
using pajeets, reselling their cheap labor. Duh

>> No.15429703

>>15428512
>Never get in debt
poor people have debt. Rich people have leverage. Know the difference.

>> No.15429808

>>15429703
this but if you play your cards not right, its more likely to just be debt

>> No.15430135

>>15428486
Rent should be 0% friend. Live with your parents and become a landlord like every bar mitzvah boy does.

>> No.15430152

>>15430135
This. Live with your parents as long as you can or leach off of gf place. If I were smart in my 20s, Id never move out. I used so much money on rent and other stuff.

Living at home with parents gives you electricity and food as well.

>> No.15430215

>>15430152
Yes, the best part is you can leverage your income like crazy these days. You can get a 56.99% Debt to Income FHA loan.

So that means if you can clear $10,000/mo by working 2 jobs for 2 years, you can qualify for a Triplex that has $5699/mo in monthly payments, sometimes even more if there are qualified tenants in the other 2 units.

So imagine working hard for 2 years, then taking out a 1M+ FHA loan with a low downpayment and you're basically retired if you bought the right property. You only have to occupy 35% for 1 year to qualify for the loan. Then you can buy another after refinancing to conventional after your 3rd tenant moves in.

>> No.15430327

>>15428466
Buy Holo

>> No.15430349

>>15430215
Shows how dumb and uninformed you are.
You can't take out an FHA loan for over $1m or even $1m.
Dumbass. They are capped.

>> No.15430370

>>15429703
this is stupid

go back to 2008 and see how many former rich people still loved their "leveraged" decisions

OP open a Roth IRA and live on less than you make

>> No.15430376

>>15428466
Make sure to have $100k in retirement savings by 30th birthday.

>> No.15430424

Buy a decent car with cash, financing a car is a nightmare

>> No.15430429

>>15428466
All in link

Or if you want to wagecuck for 40 years, a diversified portfolio of a sensible proportion stocks and bonds, but got forbid you take any real chance and buy individual companies. Only index funds for you, goy

>> No.15430479
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15430479

>> No.15430773

>>15430349
It goes up to 1.4M for a quadplex. Of course you cant do 1M for a single family lmfao.

>> No.15430790

>>15430773
https://themortgagereports.com/27779/fha-loan-limits-mortgage-rates-interest

>> No.15430924

>>15428466
the only way to make it is by doing asymmetric bets on good R/R ratio investments.
when those investments mature, put them into stable coins earning interest thru a DeFi.
and you should be set for life.

>> No.15430964

>>15428501
fuck i read ejaculation.....

>> No.15431180

>>15430370
not that guy but if you want to make it big you have to risk it big

starting a business is the most obvious example. most fail but some make people fortunes.

The IRA or an index fund is the safe way but you're going nowhere fast with those

>> No.15432440

>>15428575
>Not trying to sound edgy, but some people just can't put themselves to work and need to be spoonfed which is what college does


Sounds like you're just a retard

>> No.15433596

>>15428466
Stopped frivolous spending. Back in 2012 I bought a fresh computer instead of putting in crypto, even though I knew about it. It's been 7 years since I've last upgraded but I feel no need for it now that I can