If you went back to 16 years old, what would you do different?

[Ryan P. Kotschedoff]

Hi BP,

I am 16 years old at the moment and I plan on getting into the real estate Agent/Investor industry once I am of age to do so. I take it most of you are either an agent or an investor right now. My question is, if you could go back to 16 years old what would you have done to make yourself more successful as an investor or agent today? Would you have studied something different or wish you didn't make certain mistakes?  I am just curious so I have a greater chance of success when the time comes. Thank you for your time.

[Anthony Wick]

Is “everything” an acceptable answer? For starters, pick a life partner that is like minded financially. If you’re dating someone who squanders money, run the other way. Then, do a house hack as soon as you can. College is not too early. Rent rooms to all your friends and live for free. Third, pay yourself first. Every paycheck, every bonus. 15-20% goes into your bank account that you’ll use for investments (real estate, Roth IRA, 401k if company matching, Vanguard brokerage account). And never buy new vehicles, use credit cards, or buy that “dream home”. That’s for starters. Ask me again when you’re 21.