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Well, it doesn’t serve the interest of those who are trying to make a living to buy the latest Jordan’s for 200$ a pair, live in the most happening part of the

Well, it doesn’t serve the interest of those who are trying to make a living to buy the latest Jordan’s for 200$ a pair, live in the most happening part of the city where rent is a premium, and go out every week to the latest trendy restaurants. Of course my experience with my fellow 20 somethings are anecdotal, I believe We are doing this to ourselves. I can buy a house now in a very expensive part of the city and I’m 30. I saved, and most importantly invested, while others were lavish and spent. Yet they want the easy route? My generation forgot what meant to live in moderation. All the drinking, poor diet from restaurant outings several nights out of the week is not good for health or the wallet which affects the former thing.

pdimitar 7y ago
I have never ever, not once in my life, seen an investment advice in my country and schools, even when I tried. Everybody is just like: "save some money, don't go to restaurants". Ace advice, all financial problems solved! I'm 39 and I've almost literally broke my back working. Never had much time or motivation to look at the sides. So here's me, at 39, who still has no clue what does "invest your money" mean. Will you give me a few examples? Same for diet, by the way. A lot of genetic advice is floating around but when you try to find a concrete set of rules, they are not there. My generation was never educated on diet. As far as I can see, the next ones aren't either.
- anotherman554 7y ago
  "If You Can" by William Bernstein is a free, meant-to-be simple primer on investing aimed at Millennials: https://www.etf.com/docs/IfYouCan.pdf https://www.etf.com/docs/IfYouCan.pdf
  - pdimitar 7y ago
    Appreciate the link but dude, this is not beginner material. I have zero idea what an "index fund" even is. I can learn it in an afternoon but then I'm not even sure my country has markets like that...
    - erikpukinskis 7y ago
      Index fund is just a bunch of stocks bundled together. You can buy small amounts of it, and you just ride the market as a whole, rather than some specific stocks you picked. You can buy it at Vanguard.com. You’ll need to sign up for an account, and then it’s a process similar to setting up online bill pay. If you can put a consistent amount into an index fund, even if it’s $50/month, religiously, that’s a huge step.
    - dublinben 7y ago
      If you prefer a more basic starting point that links to definitions of the terms it's using, check out the Bogleheads introduction: https://www.bogleheads.org/wiki/Getting_started_for_non-US_investors https://www.bogleheads.org/wiki/Getting_started_for_non-US_i... There are certainly online brokerages available in your country that offer index funds (either mutual funds or ETFs) like Interactive Brokers or Revolut.
    - georgeplusplus 7y ago
      Its a whole different field with its own lingo . Like learning a new programming language that seems difficult because it uses a crazy syntax you must read and research and discuss until you are comfortable working within it. How I learned was through trial and error. I opened a brokerage account. Which now in my country is the easiest it’s ever been since there’s are 0$ fees for transactions. And just bought stocks at like 100$ or whatever I was comfortable to lose until I understood the basics of why something affected the price one way over another. It’s not a science it’s more of an art and it’s own of those things that you need to put the effort in and someone can’t really explain to you until you do it.
- nradov 7y ago
  Dilbert’s One Page Personal Finance List • Make a will. • Pay off your credit card balance. • Get term life insurance if you have a family to support. • Fund your company 401K to the maximum. • Fund your IRA to the maximum. • Buy a house if you want to live in a house and can afford it. • Put six months’ expenses in a money market account. • Take whatever is left over and invest it 70 percent in a stock index fund and 30 percent in a bond fund through any discount brokerage company and never touch it until retirement • If any of this confuses you, or you have something special going on (retirement, college planning, tax issue), hire a fee-based financial planner, not one who charges you a percentage of your portfolio. https://www.mattcutts.com/blog/scott-adams-financial-advice/ https://www.mattcutts.com/blog/scott-adams-financial-advice/

pdimitar 7y ago

I have never ever, not once in my life, seen an investment advice in my country and schools, even when I tried. Everybody is just like: "save some money, don't go to restaurants". Ace advice, all financial problems solved! I'm 39 and I've almost literally broke my back working. Never had much time or motivation to look at the sides. So here's me, at 39, who still has no clue what does "invest your money" mean. Will you give me a few examples? Same for diet, by the way. A lot of genetic advice is floating around but when you try to find a concrete set of rules, they are not there. My generation was never educated on diet. As far as I can see, the next ones aren't either.

anotherman554 7y ago
"If You Can" by William Bernstein is a free, meant-to-be simple primer on investing aimed at Millennials: https://www.etf.com/docs/IfYouCan.pdf https://www.etf.com/docs/IfYouCan.pdf
- pdimitar 7y ago
  Appreciate the link but dude, this is not beginner material. I have zero idea what an "index fund" even is. I can learn it in an afternoon but then I'm not even sure my country has markets like that...
  - erikpukinskis 7y ago
    Index fund is just a bunch of stocks bundled together. You can buy small amounts of it, and you just ride the market as a whole, rather than some specific stocks you picked. You can buy it at Vanguard.com. You’ll need to sign up for an account, and then it’s a process similar to setting up online bill pay. If you can put a consistent amount into an index fund, even if it’s $50/month, religiously, that’s a huge step.
  - dublinben 7y ago
    If you prefer a more basic starting point that links to definitions of the terms it's using, check out the Bogleheads introduction: https://www.bogleheads.org/wiki/Getting_started_for_non-US_investors https://www.bogleheads.org/wiki/Getting_started_for_non-US_i... There are certainly online brokerages available in your country that offer index funds (either mutual funds or ETFs) like Interactive Brokers or Revolut.
  - georgeplusplus 7y ago
    Its a whole different field with its own lingo . Like learning a new programming language that seems difficult because it uses a crazy syntax you must read and research and discuss until you are comfortable working within it. How I learned was through trial and error. I opened a brokerage account. Which now in my country is the easiest it’s ever been since there’s are 0$ fees for transactions. And just bought stocks at like 100$ or whatever I was comfortable to lose until I understood the basics of why something affected the price one way over another. It’s not a science it’s more of an art and it’s own of those things that you need to put the effort in and someone can’t really explain to you until you do it.
nradov 7y ago
Dilbert’s One Page Personal Finance List • Make a will. • Pay off your credit card balance. • Get term life insurance if you have a family to support. • Fund your company 401K to the maximum. • Fund your IRA to the maximum. • Buy a house if you want to live in a house and can afford it. • Put six months’ expenses in a money market account. • Take whatever is left over and invest it 70 percent in a stock index fund and 30 percent in a bond fund through any discount brokerage company and never touch it until retirement • If any of this confuses you, or you have something special going on (retirement, college planning, tax issue), hire a fee-based financial planner, not one who charges you a percentage of your portfolio. https://www.mattcutts.com/blog/scott-adams-financial-advice/ https://www.mattcutts.com/blog/scott-adams-financial-advice/