If you were to go back in your 20s, what financial advice would you give yourself?

Make all you can, you will need it! ... :coffee: ... Love your money, treat it well!
Play close attention to Mayberry RFD. Except for Barney. Treat your $17 can
of coffee as irreplaceable.

Give him dusting jobs around the house and $5 and hour. Raise him right.
 
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I'm not sure how or why I knew but saving for retirement was important to me, when 401(k) plans were introduced I knew I wanted that. The company I was working for didn’t have any kind of retirement plan, eventually I started advocating for a plan and put my job on the line, either they implemented a plan or I was leaving. It worked, they started a 401(k). Then when another business started courting me I made the same demand, only way I would work for them is if they put a retirement plan in place, and it worked again.

Regardless, my advice to my 20 year old self would be save more, party less!
 
HoneyNut said:
Maybe just tell your own stories to them about what you wish you had done, or what you were glad you did. It is really hard though because it seems like the world has changed drastically for young people and our experience is not as relevant.
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Revelency is the condition of the Cell Phone in 2025. If you upgrade you may get one free. ... :coffee: ...
 
I Will Teach You to Be Rich, by Ramit Sethi, is the best book I have ever read about personal finances. When I read the first edition, I was amazed and immediately gave to each person who asked me to make a budget for them and teach them how to do it. The younger a person is who reads this book, the better. (not including children)

In my former life, I was a cost accountant in charge of making budgets for millions of dollars for television shows.

Here's the link for the book. It has 22,181 ratings on Amazon, averaging 4.7 stars. The most important thing about this book is that it teaches readers how to be in control of their finances, including investing and savings, especially for retirement. If making more money is important, it has ideas for that, and Mr. Sethi has more on his website (although a lot of that is in-depth getting rich classes that cost money.

https://www.amazon.com/Will-Teach-You-Rich-Second/dp/1523505745
 
Same thing my parent told me, "Save all you can" "Never spend money you don't have"...

It took me a long while to learn they were right...! Life has been good since I figured it out!
 
I wish I'd been more like my father. In my 20s I purchased for self-gratification. He purchased when he needed something. It used to drive me crazy that he would takes months to buy something like a new TV, but when he did he bought the absolute best quality because he'd done all the research.

I think I would have been more responsible had he not been a financial advisor, but as is the case with many children they want to be the exact opposite of their parents. So, if I went back to my 20s I'd tell myself to wait for the good things in life and save more. In my 40s I started socking away everything I could into my 401k, so at least I had 20 years to prepare for retirement. The irony is, now I am very much like my father, understand finances and have his spending habits.
 
When it comes to money, I would rather have it and not need it than need it and not have it.

Make savings and investment a part of your everyday life, pay yourself first!!!

The hardest thing for me over the years wasn’t saving and investing it was leaving those savings and investments alone to let them grow and compound over time.

Money won’t buy happiness but it will buy you some breathing room so you can concentrate on the things that are important to you and the people that you love.

Finally, set a good example for your grandsons and be honest, kids know what bullshit smells like. 😉🤭😂
 
Would not change anything. So no different financial advice.

Have never ever taken out a loan.
Never looked up my credit score but when I recently bought a used vehicle from a dealer, saw it for the first time ever from their sales manager.
Have always saved to buy any products and that includes always paying for vehicles with cash.
Have never ever been in debt.
Have never collected unemployment insurance beyond the first year of HD from the USAF.

Have never been wealthy as am not $$$ oriented but usually had enough savings to last for months to years without working. So often didn't work for months to years between jobs until my assets dwindled down. Well, I once had a half million $ in stock on paper through corporation employment grants but in 2001 that went underwater worthless haha.
 

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