Posted on 03/08/2015 8:14:57 AM PDT by Kaslin
Too bad that is part of otherwise generally sound advice
Darn....I guess that means I'll have to start borrowing some grandkids from other people.
Actually, my oldest and her husband are following (most of) this advice. Except they own TWO houses....one rental property and one of their own.
Especially since he didn’t mention getting married.
>>1.Live below your means.<<
.
The best advice ever. That’s exactly what I did the moment I got out of college with an MS in Chem. E. I could afford almost everything I wanted but I realized that I did not need everything I wanted.
Years later, I told this to my financial advisor and his answer was, “If everyone lived like you, the economy would collapse. Our economy is based on the people to spend, spend, spend.”
I never took his advise, I have one credit card and have always paid my debts first before spending any money.
Yup, the “spending rises proportionally with income” and “Gimme dat!” attitudes is what keeps people in poverty, regardless of income. “The borrower is slave to the lender”, and I am thankful to the likes of Dave Ramsey to at least getting some people thinking. I have told my kids (after educating them in this) that there is no “Daddy Bailout” if they ignore these tenants and fail financially...
People who write advice articles need to carefully read what they write.
Specifically, “Examples: Have you though about ....? “ is most certainly incorrect. Let’s try, “ Examples: Have you thought about ....? “ makes much more sense.
“Would it be to settle for nothing less than something they are passionate about? ...”
Not really on topic but: “Passionate”. I am sick unto DEATH of this damned word.
Get married.
Care for somebody besides yourself.
I would amend his Land a Job list slightly: Buy a 2-5 yr old car with a loan and establish a history. Try to build up your credit as much as possible. Credit can come in very handy later in life for a great many things.
“I would amend his Land a Job list slightly: Buy a 2-5 yr old car with a loan and establish a history. Try to build up your credit as much as possible. Credit can come in very handy later in life for a great many things.”
Unfortunately, I must agree with this. My parents rarely bought things “on time” and never had a single credit card of any kind. I had a good job starting Monday after I graduated on a Saturday, yet I had no credit at all until I was maybe 24 and never had a credit card until two weeks before I got married in my late 20’s. You simply cannot live this way today unless you have wealthy parents who will bail you out of the unexpected.
“Not really on topic but: “Passionate”. I am sick unto DEATH of this damned word.”
I really, seriously wonder exactly how many people have jobs that they “love” or are “p****onate” about. I believe that the actual percentage is FAR smaller than what is pushed by the media and “common perception”. I would bet that the real percentage is less than 10%.
If someone would pay me 300K a year for shoveling sh$% without a shovel, I’d do it - that would buy a heck of a lot of soap, with plenty left over for my family, hobbies, leisure, and so on.
The appropriate advice, is telling them that unless they make themselves a part of today’s ‘work culture’(which has nothing to do with WORK)will they benefit from their brainwashing from these institutions of so-called ‘higher learning’. Job, or no job.
There is ample enough evidence that proves America has chosen to take the WIDE path, therefore, making more sense to forewarn those who will be the most subjugated to the ‘system’ (which are the youth), rather than advise them of things that have very little meaning anymore. That’s REALISTIC advice. Otherwise, your children will one day be your Masters.
“It’s easier to find a job if you have a job.”
I have told this to every kid in our family. So has Mr. GG2.
I have seven.
They are the only true wealth.
BTTT
Your financial adviser must be a liberal
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