Start saving for retirement now. You can make literally millions by putting away 10% of your income early on. Do it automatically so you never even notice the money gone.
If you are worried about making the wrong choice and your company doesn’t have a 401k, open an IRA somewhere (Fidelity if you need someone to make the decision for you) and pick a date targeted fund. Set up auto deposit. Never look at the balance.
You can always make it better later but for now the best thing to do is start. Don’t let analysis paralysis get in the way.
I don’t want to come off as insensitive, so I’ll try to phrase things carefully.
If you have even the slightest spare money per pay period, like $30, and a 401k or 403b is offered to you, you really need to do it.
That money comes out of your check before taxes, so you will be investing more money than what actually comes out of your check. By deduction 6% of a $15/hr full time job, you’re putting in $36, but your paycheck will only go down about $30-free money!
Many places will match you some, say half of that first 6%, so now you’re saving $54 while only being out $30. You’ve almost doubled your money in one week!
Come tax time, you’ve saved $1872, and you’ve been given a free $936. It doesn’t stop there though, because now you only are paying income tax on $29,328 instead of $31,200. If you get a tax rebate now, you will get even more back!
So now you’re saving $2808 a year at age 20. Let’s put that in one mutual fund, a SP500 index fund. Over the last 10 years, that has returned 12‰, but let’s be conservative and call it 10. If you never make a cent more per hour, by age 65, you will have saved $84,000 and your job has chipped in $42,000, over a year’s pay! But with that 10% compound interest, you have $2,000,000! You are a multi-millionaire for $30/wk!
If you get a raise or get a better job in the future, this number can be even higher.
Please keep this in mind. Even if you can’t do it now, do it ASAP. Here are the same numbers, but starting at 30 instead of 20.
Still amazing, but seeing this difference is why we older on ones tell you not saving earlier was our big regret.
I hope this was helpful and doesn’t get taken as a “pick yourself up by your bootstraps” thing.
Yes that’s cool and all but I have to pay rent and food and as things stand now the average salary is like enough to cover ⅓ of the rent
Question: If I had money saved in a 401k or Roth IRA, what if I died before I retired? What would happen to the money? Would it go back to the government or to a close relative?
- Get an exercise routine now and keep it
- Take care of your teeth
- Invest in your retirement now
- Keep your mind sharp
- Eat right most of the time
If you’re working in the attic, under the house, around dirt/dust/debris wear a mask/respirator. It’s so nice to be able to take deep breaths without coughing later in life (and outclass your peers in the stamina department) 👍
Pro tip: Even though they’re bigger and bulkier respirators are much more comfy than masks.
Smoking, drinking and gambling never ends well. Stay away from addictions.
Don’t try to proof how manly you are to your friends/girls. It rarely pays off. Its ok to have a veggie dish at the restaurant instead of a bloody steak. Its ok to not speed with your car to look cool. Its ok to wear whatever the fuck you want as long as you like it, it fits well and its practical for you. Do what you like and be proud of it.
Always save time for your hobbies. Growing up doesn’t means you can’t have fun. If you are in a relationship make sure your partner gives you enough space and time for yourself.
I’m 36.
Do yourself a favor. Dont drink alone.
Sound like a tall order? Work on that. Your liver is important. You’ll be alone a lot. You get in that habit now, it’ll be with you when you’re 40, and your liver will not be a fan.
“Work on that” what do you mean?!? – you get home from a shit day at work, or you stop at a bar on the way home. You get drunk to numb the calcified agony of the working life. – that’s what I mean. There are other ways to numb thatee less maladaptive, they just take more effort and take affect less quickly. Move toward it for me tak health.
Do you spend hours on the couch scrolling on your phone? Try to go on a 2 mile walk every day. 4 is even better. Your heart will thank you. Your hips, knees and ankles will thank you. Listen to a podcast. You can still binge content, just… Get your body moving. And get your eyes to focus on the horizon every now and then. It’s good for your eyesight long term.
Get yourself out of breath, heart racing from pushing yourself physically at least once a week. Preferably nearly every day.
Take up an artistic hobby. Write bad poems. Write bad stories. Write bad songs. Draw dumb cartoons. Draw bad portraits. Sing your best, but sing. Dance.
Stretch.
Brush your teeth twice a day.
Floss.
Do planks.
Side planks too.
Drink water.
You should be able to do 20 pushups.
You should be able to touch your toes.
Sprint as far as you can at least once a month.
Just don’t get complacent being complacent.
Invest $1 for every $1 you put in a savings account. Put $1 into a retirement fund for every $1 you put in that savings acct too. Oh, and $1 in a Roth IRA at the same rate.
Got an extra $100? $25 to savings $25 to investing, $25 to Roth, $25 to 401k.
Do that til your savings ~= 6 months living expenses. Then stop that fund and split it 3 ways for investing, retirement, retirement.
Use your investment (and if things go south, savings) for a down payment on a house to minimize your mortgage.
Edit: in debt? Have more than 1 source of debt? Focus on the biggest one. If you can make minimum payments on all and have money leftover it goes to the largest debt/worst interest. Pay em off one at a time til your chins above water.
Yeah regarding the drinking alone; it’s an easy escape from whatever is happening right now (45+ yrs here). Not an alcoholic but I definitely have a bad habit (that’s what all alcoholics say, right?) during non work hours to disconnect (not sure from what to be honest…life?)
I’m not good by what I suggest lol.
Trying to get them young because these habits die hard.
It is easy to say you’re not an alcoholic. Have you read what defines alcoholism? I qualify. I wouldn’t assume I do.
Here’s the cold slap in the face for us all. Count up your points…
Alcohol is often taken in larger amounts or over a > longer period than was intended.
There is a persistent desire or unsuccessful efforts to cut down or control alcohol use.
A great deal of time is spent in activities necessary to obtain alcohol, use alcohol, or recover from its effects.
Craving, or a strong desire or urge to use alcohol.
Recurrent alcohol use resulting in a failure to fulfill major role obligations at work, school, or home.
Continued alcohol use despite having persistent or recurrent social or interpersonal problems caused or exacerbated by the effects of alcohol.
Important social, occupational, or recreational activities are given up or reduced because of alcohol use.
Recurrent alcohol use in situations in which it is physically hazardous.
Alcohol use is continued despite knowledge of having a persistent or recurrent physical or psychological problem that is likely to have been caused or exacerbated by alcohol.
Tolerance, as defined by either of the following:
*A need for markedly increased amounts of alcohol to achieve intoxication or desired effect.
*A markedly diminished effect with continued use of the same amount of alcohol.
Withdrawal, as manifested by either of the following:
*The characteristic withdrawal syndrome for alcohol (See the “How is alcohol withdrawal managed?” section for some DSM-5 symptoms of withdrawal).
*Alcohol (or a closely related substance, such as a benzodiazepine) is taken to relieve or avoid withdrawal symptoms.
The DSM-5 defines AUD as a problematic pattern of alcohol use leading to clinically significant impairment or distress, as manifested by at least
booze shame warning
2 of those previous 11 symptoms occurring within a 12-month period.
The number of symptoms determines the severity:
2 to 3 symptoms for mild AUD,
4 to 5 for moderate, and
6 or more for severe.
Happy Friday I am sorry
That also relates a lot with other addictions (including behavioral addictions like social media or general electronic addiction)
Whew! I drink 4 or 5 beers daily and have for years. None of those listed markers applies to me. I don’t drink to get drunk, just to relax.
Four or five a day and not getting drunk? Holy shit, that’s a tolerance! If this isn’t tongue-in-cheek, I say examine the list a little more closely.
That’s typically less than a beer per hour. I get a buzz if they’re IPAs or other high APV beers, but otherwise I just like the mellowing effects
Okay, you do you, but my father’s career was as an AODA counselor, so I’ve heard a lot of stories, and “I just use it to relax” comes out of the mouths of alcoholics so often it’s a cliché. There are other ways to relax without the long-term damage to one’s health.
This alone qualifies you as an alcoholic. You can kid yourself all you want. Your body will catch up with you.
A downvote doesn’t change this.
Both of the last two apply to you. As do the second and third.
You meet at least 4 of them. Your alcoholism is “moderate”. And that’s assuming you’re being honest with yourself about the rest.
Remember alcohol is itself a central nervous system depressant. I do drink in moderation (2-3 a week) but everyday is a bad idea, even outside of any harm to your liver or whatever, because it can make you depressed and downers of all sorts (including Benadryl) accumulate damage over time that can contribute heavily to dementia risk.
If you are worried about it, that seems a clear enough signal, you don’t have to label yourself as anything, cut down if you can. Going to the gym or yoga class after work can provide the same wind down in a healthier way. I do understand wanting a separation - it is so nice to come home, sit on the porch with a drink, to separate work from home life, but most days I go to yoga instead.
None is better than some, some is better than a lot.
- Don’t be afraid of loneliness; don’t be afraid of too many people around; don’t be afraid of sharing your life with an SO you think you don’t really know. As you age, these phases tend to blunt and blend together, like the seasons. The only thing you really have, in the end, is yourself.
- Adult life is a lot more about compromising than fighting. Don’t make other people’s life shitty on purpose, neither allow them to make yours shitty.
- Get your regular medical check-outs.
- Leave a place if you positively can’t stand it any longer, and start from scratch. It’ll be okay.
Listening to other people, especially to women, is a skill. Don’t spend silent time in a conversation waiting for your chance to speak or be smart or witty, stay quiet and really process what you’re hearing. Imagine yourself in their situation. Accept that what they say is exactly how they feel.
The less time you spend talking, the more your conversational partner will tell you, and the more you will start to understand them, their lives, their goals, and their anxieties.
Knowing and understanding other peoples’ experiences will help you not only make better decisions in your own life, but understand why other people act and think the way they do. You’ll be less likely to snap-judge or make assumptions about others. And knowing more about your loved ones, co-workers, and neighbours will allow you to help them effectively if they need it.
And travel abroad as much as possible - listen to people from other countries and cultures. The human experience is wildly varied and endlessly fascinating.
Spend quality time with your parents (assuming you’re on good terms of course).
I lost my dad when I was 30, after a short and unexpected illness, and I regret not spending much more time with him when I could have.
The random aches and pains you start waking up with are here to stay. Learn to embrace them.
And drink more water.
And get your eyes checked once in a while. For a while I would get massive headaches by early afternoon. I thought I had a nutrient deficiency. Bloodwork came out ok. Turns out I needed stronger glasses.
University isn’t intended to get A grades, university it’s for you to make connections with other people. A grades are good but a good business partner can save you life.
Also regarding university figure out your reasons for studying whatever it is you’re going to study before going into massive debt for it. Too many people my age went to university a bit aimlessly because going to university after high school is what was supposed to happen. Then they spend the next decade or two kicking themselves about their debt and how they were naive about what they studied.
agreed, but usually those that get A stick with those that get A and from my experience you don’t want to do business with those…
Working hard is for suckers.
Getting paid is what the whole song and dance is about.
Don’t rawdog a rando
Wearing a rubber every time unless you’re in a committed relationship greatly reduces your chances of an STD or an unwanted pregnancy.
STDs are sooo much more common than people think because often they don’t even know they have them.
The best raise you can get is by changing jobs. Businesses are not going to be loyal to you, there’s no benefit to being loyal to them - add either a customer or employee. Embrace and welcome change.
When you get a pay raise immediately increase your 401k (or equivalent retirement fund) by at least 1%.
Enjoy your 20s, they don’t last long but the person you are today is who you will feel like you are in 20 years. Don’t rush your life. There’s plenty of time to get married and have kids. You and your kids will benefit from you having an extra decade of experience before raising another human.
Learn to clean your butthole and keep it clean
You will get fatter unless you eat less and less for the rest of your life, probably starting around 32
Appreciate what you have. I know you think you are doing that now, but you’re probably steamrolling over people and things all day long
If you are doing something awesome, remember it and document it. You’ll want to revisit that many times later - see above
Start saving some of your money. Whatever you can but have damned restraint and dont spend it
