How's a 20-something achieve financial security?

[Knightskye]

Eh?

[mconder]

What's a 20 something worried about that for? You can loose a decade and still be alright. The real question is how a 40 or 50 something does it.

[trey4sports]

purchase assets and minimize liabilities....I.E. dont buy a 20,000 car if you make 20,000 a year.

in reality, im 19 and when i have enough money for food, the rest of my money goes to shit that has no real value besides my education. its really impossible to make any kind of money at your age

[CUnknown]

Make sure not to get in debt. Always pay your credit cards as soon as the bills come due is the most important thing. Beyond that... try to cut expenses in other ways. But, yeah, there is no real way to become secure in this economy right now for a 20 yo.

[idiom]

Rent your ass.

[Truth Warrior]

Beats me! :(

[Knightskye]

What's a 20 something worried about that for?

http://www.ebooknetworking.com/books/047/004/big0470043601.jpg

[fr33domfightr]

Save as much money as you can. Getting involved with women at a young age can suck the money out of you like a smokin' hooker in Vegas. Don't spend too much money on things that depreciate, like expensive cars, or by paying Rent. Maximize automatic deductions of your pay for 401Ks and Savings early on in your working career, so you get used to NOT having that money to spend.

I know some guys that are really misers. They barely take out women or have a life, but they've got lots of money and assets to show for it. We can't all live like this, as some of us do like to have some kind of social life.

If you want to have tons of money or assests on hand, and that means Financial Security to you, then you might need to work for yourself. Most people who are really well off don't make good money working for someone else.

I should have added, most 20 year olds won't be finacially secure. That usually takes many many years of savings and investments. It really depends on your definition. Young women like guys that are financially secure for a reason, so they can get you spend time and money on them. That does nothing for your career!!!!! Watch out!!!!



FF

[mavtek]

Prosperity comes from Hard work, my advice, be prepared to work your ass off. Oh and use your brain when you do it.

Don't get into unnecessary debt (some will say don't get into any debt, which is a great idea if possible, but not always the case when you have an emergency or need something like a reliable car and only have $99 to your name, thus a $2500 loan on a decent beater isn't such a bad thing)

Obey the law and be responsible with your finances, use as many automated tools your bank provides you with. Late fees, speeding tickets, etc are a big waste and cost an insane amount of money.

Save your money. Save for a rainy day, save for a place to stay (land or a home), and save for old age.

Live by that and you'll be rich, at least in your own mind.

[Truth Warrior]

Yep, all of those $.000000000000000000000000000000000000000000000001 FRNs will really start to add up quick. ;) :mad:

[Knightskye]

Yep, all of those $.000000000000000000000000000000000000000000000001 FRNs will really start to add up quick. ;) :mad:

:o:(

See you in Weimar.