Sunday, December 27, 2009

What advice would you give to a 24 year old man?

If you live in the United States, move.


Don't get caught up in 21 century materialism.


Save money.


Don't think that marriage and children will make you happier, studies show they don't.


Read a book once month.


Don't get married to a girl who wants to be a stay at home mom.


Don't smoke.


Clean up after yourself, do your own laundry, no woman EVER wants to be a housemaid


Keep your credit good.


If you do get married, get detailed pre-nup agreement showing settlements after divorce so everything is fair.


Don't drink and drive.


Teach your kids a second a language with English when they are born and teach them to read just as early.What advice would you give to a 24 year old man?
Land is King





own property. start now!





i wish i had this advice when i was your age.What advice would you give to a 24 year old man?
You should be saving for your future by contributing money to a Roth IRA and/or 401k... These 2 savings plans plays on the stock market with your money with very reputable and money making companies... Starting in your 20s with aggressive stocks is an outstanding start to building for your future... When you retire, you will have a retirement account near $1,000,000 which you can withdraw at your pre-set retirement age and that money will be your salary over the next 20 years of retirement... For example, let's say you were contributing 10% of your salary (recommended) and you ended with $1,000,000... You turn 62 years old and become eligible to retire... You can quit your job and withdraw the million bucks to deposit into your banking account... You will be taxed so you'll walk away with around $800,000... Let's say you planned on living until around 85... Since you retired at 62, you're assuming you'll be alive (and need money) for 23 years... so divide $800,000 by 23, and that will be your yearly salary... This adds up to $34,700 a year... That's not even that much right?... But imagine if you DON'T have a retirement account?... This should be a priority...





There are lots of minute differences between Roth and 401k but the biggest one is that a 401k is money you put in from your paycheck before it gets taxed... So this means if you make $100,000 and you're contributing 10% a year($10,000), you will only be taxed for having made $90,000 that year... But when you withdraw your 401k you'll be taxed then... A Roth IRA is money you put in after you've been taxed so you will not be taxed when you pull money out of a Roth IRA...





If you're not in college, you need to go... Don't get suckered into trade schools like ITT tech and Art Institute, they're a waste of money and don't even compare to a 2 year community college degree in the real world... Figure out what you want to do, go to school for it, and seek employment that offers a 401k...





stay out of jail... even going to jail for a DUI will appear on your records when applying for credit, a home, a job...





do not destroy your credit... stay away from credit cards right now... stay out of debt.... they rape you on the finance charges and late fees and take advantage of you when you are at your weakest... learn to live without the wants in life and you'll enjoy your adulthood much more, especially when you're depositing paycheck after paycheck and not having to pay down debt...
The only advice I could give is, to try and be helpful and considerate to others but not to forget to live while your at it.
shave

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