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re: 22 y/o Seeking MT Advice
Posted on 12/15/22 at 5:00 pm to tigerbrauf
Posted on 12/15/22 at 5:00 pm to tigerbrauf
Marry a nerd in med school.
The rest will work itself out.
The rest will work itself out.
Posted on 12/15/22 at 5:32 pm to tigerbrauf
First thing you need to do is move out of your parents house and learn to survive on your own.
Posted on 12/15/22 at 5:46 pm to NewIberiaHaircut
Currently working on the road, living on my own
Posted on 12/15/22 at 6:03 pm to tigerbrauf
Too much can change to anchor yourself with a house especially a build. Either rent or buy a rental you can live in and house hack with roommates/tenants. If you buy it may limit career mobility options and youre likely to meet someone and end up selling anyway.
Max your retirement accounts early. Roth IRA is ttpically best in your early career low earning years.
Max your retirement accounts early. Roth IRA is ttpically best in your early career low earning years.
Posted on 12/15/22 at 6:11 pm to tigerbrauf
Other than what’s been stated, make an account with Mint or Personal Capital that will allow you real-time visibility of your net worth. You will be able to see the impacts of good and bad habits more clearly.
Posted on 12/15/22 at 7:29 pm to tigerbrauf
Good: expenditures < income
Better: income - expenditures = savings
Best: income - savings = expenditures
Better: income - expenditures = savings
Best: income - savings = expenditures
Posted on 12/15/22 at 8:55 pm to tigerbrauf
Now is your chance to do something with investments. I was living with my girlfriend (now wife) when I got my first big boy job. Our combined income was around 150k and we were living off about $700 per month in a shitty 1 bedroom apartment. We had both recently just got our first jobs that were like $12 an hour but we continued to live like that for a couple years.
I took that time to start a business and invest in real estate. Best decision ever. Not saying it needs to be real estate, but now is a good time to set yourself up investing. I work with a bunch of guys that want to try other stuff, but their lifestyle now matches their income and they don’t have the money to take chances like you do now. A few right decisions now and you could be set for life.
I took that time to start a business and invest in real estate. Best decision ever. Not saying it needs to be real estate, but now is a good time to set yourself up investing. I work with a bunch of guys that want to try other stuff, but their lifestyle now matches their income and they don’t have the money to take chances like you do now. A few right decisions now and you could be set for life.
Posted on 12/15/22 at 9:08 pm to jlsufan
quote:
Best: income - savings = expenditures
This!!
Posted on 12/15/22 at 10:36 pm to tigerbrauf
Save up and build you 2-4 duplexes. Live in one and rent the others out. Let them pay for your living expense all while making money to save up for either more rentals or down payment for a house eventually in the future.
Posted on 12/16/22 at 1:48 am to tigerbrauf
Building a house at 22 sounds completely insane to me. No need to rush into that just rent for a bit and see where life takes you
Posted on 12/16/22 at 6:21 am to tigerbrauf
As much as I don't want to live with my parents, I really don't want to spend $1,400+/month on rent. I am not by any means being pressed to move out I just feel like it needs to happen in the next year or so.
I have near an acre of family land and have listened to horror stories from friends on getting trailers moved and ultimately would like to avoid this route. Any advice?
I have near an acre of family land and have listened to horror stories from friends on getting trailers moved and ultimately would like to avoid this route. Any advice?
Posted on 12/16/22 at 6:31 am to tigerbrauf
Rent a place with some friends, don’t fall in love, and enjoy yourself for the next 10 years. Life’s a bitch once you get married, have kids, a mortgage, etc.
Posted on 12/16/22 at 6:34 am to questionable
I might have already dropped the ball with that one. Been with my ole lady since high school.
Posted on 12/16/22 at 9:02 am to tigerbrauf
Save money like your life depends on it. Like it will keep you out of prison.
If you get in the right mindset at an early age, the habits will be set, and your future self will thank you.
If you get in the right mindset at an early age, the habits will be set, and your future self will thank you.
Posted on 12/16/22 at 11:18 am to tigerbrauf
Hold off on the building. - Probably not what you want to hear but it's great advice. What I thought I wanted in a house changed so much from 22 to 25 just because my taste changed. My preference changed even more after a year or 2 of living in my first house and again after being in my 2nd house for a couple of years. Get an older home in a good neighborhood, fix it up while you live there. You will start to notice things you like and dislike. When you are ready to move, sell it or rent it.
Start saving for retirement now, future you will appreciate it - I don't know what kind of plan you have with your company but if you aren't putting money in to some kind of retirement account, take this as your sign. You start now and you will be way ahead of your peers that are playing catch-up later.
Start saving for retirement now, future you will appreciate it - I don't know what kind of plan you have with your company but if you aren't putting money in to some kind of retirement account, take this as your sign. You start now and you will be way ahead of your peers that are playing catch-up later.
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