Money advice for a 19 year old

[Dos XX]

Whatever you do, don't waste money. Spend it on whiskey and women.

 

[Z71&Gun]

Whatever you do, don't waste money. Spend it on whiskey and women.

Whiskey and *a woman. Buy nice, not twice.

 

[MTWop]

Focus on increasing income. It’s easy to save money when you have a big shovel. Don’t go to college just to get a degree. Figure out what you want to do and how to get there the most quickly and with the least amount expense/debt. I think the advice about trade schools is great, but it has to fit the lifestyle or have some flexibility. You need a skill set that people are willing to pay for. You’re smart to be thinking about finances and how they can ultimately give you the freedom to live how you want. Maximize the gifts the government gives you to help reduce taxes when you start making money: HSA, Roth IRA, 401k, etc. Read about the power of compound interest and the importance of saving early

 

[MallardSX2]

#1 Max out a ROTH IRA every year for the next 35 years (though Fidelity.com) in the FID500.....
#2 Put enough in a Roth 401K at your work to get the full company match......Contribute more to this if possible.

#3 See #1 and #2....


You'll thank me later. Actually, probably not, I'll be dead by the time you can touch it, you'll be rich in retirement.

Retire in the year you turn 55 using the Rule of 55... Enjoy your life.

 

[Brent]

I went the military route to pay for school and to serve on active duty as a commissioned officer. I'm set to retire with 25 years of service next July with a solid high 3 retirement.

It's not for everyone, but it provided a means for me to hunt in nearly every Western state and take at least one trip to AK annually.

I also have Roth TSP and a Roth brokerage account building up to allow me more freedom as I progress into final retirement.

 

[Boarmaster]

Hey everyone I’ve been on this forum for probably a year now maybe and I’ve seen that at least some of you guys are going on really cool hunts and building these insane rifles with 2-5 k scopes. So clearly you guys know what your doing when it comes to saving money and planning for the future. So I’d like to ask for your money advice for a 19 year old kid. I have a few stocks and cryptos like 150 dollars worth. And I do plan on starting a Roth IRA this year. And I’m also planning on getting a little better paying job. 12$ an hour currently. I don’t have a truck yet which is what I’m saving for currently. Thanks for any advice.

If your into hunting and fishing then focus on developing a career and lifestyle which you have some freedom to be away after you build your book of business. Also one that affords you the money to finance it without being irresponsible. You arent going on many hunting trips if you got a wife , five kids , a mortgage and two car payments. Focus as well on where you live. The closer you are to your hunting and fishing the better. Heck of a lot easier to jump in the truck and be hunting in a half hour than traveling days to get to your area.

Remember you dont know whats going on in someone elses life. A guy with a $5000 dollar rifle setup and $3000 optics might be driving a 12 year old truck living in a travel trailer in pops back yard and have a few side jobs to finance his gear habit.

Most guys dont start where they end up. I bought a second hand ruger 3006 bolt action rifle for $100 and a some binos for $75. My first knife was a $10 special.
My clothes were bought at the army surplus And I had a poncho for rain gear. All that has changed now for me but I got a lot of hunting in with that old gear.

Your going to likely have to make trade offs to pursue any dream or passion. Dont try and live through looking at what others are doing. Especially dont look at a composite picture of everyone. You wont be able to keep up with what all 10,000 hunters have or do.
At 60 I have luxury of being able to look back. I did some things right, had some luck and totally screwed the pooch on other things. Good Luck.

 

[nomercy4you]

Your earnings will naturally increase as you age. Don't feel so sullen when you are young and don't have much. That will improve given time.