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Old October 22nd, 2017 #38
H.B.
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Join Date: Dec 2006
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I was talking to friend the other day about what we would differently if we were 18-21 again. We both did things differently. Both ended up okay but both could have done things much better.

Here's some things that came to mind:

Chose an in-demand major: Software engineer, computer programmer, computer scientist, petroleum engineer, etc.

Leverage scholarships, financial aid and working through school to avoid student loan debt or pay off right away.

Get a job with a large stable company with good benefits and short driving commute. Work your butt off, develop in-demand skills and keep your head down (don't discuss politics, don't complain, etc.). Develop a meaningful career path.

Put aside 20% of your pre-tax ncome into 401K.

Buy a one year old Honda Accord. Keep mileage low, keep up with preventative maintenance and try to get 20-25 years out of it.

Buy home at bottom of market in an area undergoing gentrification. Put 20% down to avoid PMI. Only buy what you can afford to pay off on a 15-year term.

Get 1-2 roommates via word of mouth who are trustworthy, pay you on time and don't give you drama. In exchange, give them a deal that is 30-40% cheaper than if they would get in a private apartment. Use extra cash to do upgrades that add equity and or enhance energy efficiency and pay off mortgage sooner.

Make you are you are getting the best deal on everything: cable, Internet/TV, cell phone, utility company, prescription drugs, food, necessities, etc.

Be able to spot good investments and get into them before they explode - Amazon, Google, BitCoin, etc.
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Last edited by H.B.; October 22nd, 2017 at 02:59 PM.