All Forum Posts by: Shane H.

My biggest gripe with college is that it doesn't reach people how to make money. Meanwhile it's costing a fortune. I listen to Dave Ramsey constantly tell people that the best investment they can make is in their education it will pay more than their 401k or IRA. Well.. yeah... Because they don't pay well. Lol

if someone works from 18 to 22 instead of college, but lives at home as if they stayed in school and socks away 50k since they have no bills. Then invests that at an 8 percent return which can be done by just dumping it into a solid mutual fund, which I don't recommend. But for the faint of heart 8 percent can be done that way. They'd have 1.5 million to retire at 67. They never need to contribute to their retirement account again. Done in 4 years. I don't invest in anything with less than a 10 percent cash on cash return. Which would make that 3.6 million. Man I wish I did that during those 4 years. I could have. I just didn't plan that far ahead. But what if that's what guidance counselors were pushing instead of college?! I just solved the social security crisis! Now that person no longer needs to worry about a percentage of their check going to retirement over the next 45 years. They can add a little more if they're making it so they can retire earlier. But their retirement is solved. Ready when they are. Vs. taking student loans that may not be repaid until that same age... 

 To each their own. That's just one of my pet peeves. Co workers used to tell me all the time they'd fire me if they were in charge, or "if you worked for me." I'd always look at them like, you're 45 and working in the same job as me at 19... I'll never work for you. Lol and I'm not saying that you're that guy by any means. Please don't take it that way. Anyway, those guys (not necessarily those exact guys but the 45 year olds who need jobs of that type,) are calling me for work now. I'm 31. Funny story when I was 25 and running my business I had a 70 year old man working for me. I asked him before he started if he was okay working for "some kid." He said no problem as long as I'm paying the bills. Well that lasted like a week before everything was "when I ran my own business," or "I've been doing this for 50 years." He ultimately won a multi Million dollar lottery so I guess he got the last laugh I guess, but I was laughing while he worked for me because his business shut down and he was working for me. He was a real nice guy and remianed down to earth after winning the lottery, overall I liked him it was just too much for him to work for a kid at his age, which I anticipated and let go as best I could  occasionally I would have to do something that needed to be done a certain way for safety reasons when he refused because 50 years ago that didn't matter! lol

 I've yet to find the magic formula, but not for lack of trying. I am in a sense one of the lucky ones. I had a tsp account in the g fund through the recession. It grew ever so slightly. But I had not knowledge or interest in acrual investing. I thought investing meant dumping it in a retirement account and waiting for 50 years. Because we'l that's what I was told it was. Anyway I cashed that put and spent it like a fool. But not before I switched to c find for a year or two and took some gains after the drop. I have a skillset that kept me employed through it all. I didn't take college debt. I did one semester and realized that those people couldn't reach me how to make money. Shortly thereafter I began building my business and looking at real investing. In 5 years I've built a profitable business albeit not as profitable as I'd like, and I've begun investing. But the bulk of millennials followed the advice given by their parents and that's why they're in such bad shape financially. Completely different market. Many are bums too so there's that. Lol but they are also regularly confused with the generation after. Most people don't realize the first millennials are turning 40 this year. Everyone seems to think they'll be 18 forever. The youngest millennials are 20 now. I bought a house at 25. But you can't blame the bulk of millennials for not doing so. Many watched their parents lost there's just a few years ago!

 Where is this easy money millennials grew up in? Sure a few idiots made millions making YouTube videos and Instagram accounts or whatever it is they do... But baby boomers stumbled into millions by throwing a few bucks in a retirement account, or just being awarded retirements for the time they put in... Millennials came of age just before and during the recession. Anyone who started investing early the traditional way was wiped out. Baby boomers came of age during a booming manufacturing economy. Millenials came of age to outrageous unemployment rates. Near zero interest rates. Record national debt. They've been strapped with trillions of debt to stop baby boomers from losing their shirts. They've been coached by those same baby boomers to go in to debt 10s of thousands of dollars, which they'll have to pay back 100s of thousands for, just to get degrees in fields they can't work in... Honestly millennials have taken a hit in the reputation department because the ones that make the spotlight tend to be morons. The greatest generation thought the same way about baby boomers though so I guess it's warranted...

 Who said he wanted to be hired?! 

 Believe it or not millennials start turning 40 this year!

 That excursion costs more than the BMW anyway. Haha

hey I don't blame you for wanting to keep going. I would stop at 50k/yr either, but I would know I was free. From there you can build. I work on refrigerated trucks. So I'm climbing ladders and run the potential of falling off them too. I always think what would happen if I fell off and couldn't work. I might be able to get by on government programs. Other than that I'm screwed. I have a few years until I can cover it myself. 

Sounds like you'd take a hit on lifestyle, but you could downgrade and survive comfortably. That's awesome. You're free. From there it's all about you choosing the lifestyle you want. Us little guys are looking up to you right now!

To be fair, most people could live on that cash flow. Though they probably would have to drive Impalas instead of BMWs. Lol

 As you've gotten older? You're 22... 

its actually because you're so young that the paper matters. As you get older you'll realize how little it mattered. A truck driver with no degree will make more than your average college grad for the bulk of their career. A construction worker will too... Close to 100k a year within a few years is not an unreasonable expectation in those fields. They are overtime heavy fields where you can dump that excess into investments while living off a portion of your base income. Say starting salary is 40k. Investing 10k of that plus all overtime. Say.... 20k/yr. At 22 you have 80k invested. At a measly 5 percent you're looking at 750k by retirement age. At 8 percent return it's 2.5 million. I don't know about you but I scoff at 5 percent returns. 8 percent I'll start seeing if I can work the numbers to get it up a few points... 

unless you're aiming for a career that requires a specific degree, and then you better know there's a market for it, that's a collossal waste of 4 years. If you can handle full-time college and a full time job, work 2 full time jobs and invest the second one entirely... Better yet spend that time building a business with an infinite return. 

Yep. And they come at people angrily if they don't fit in that box. Telling people they don't have enough to start investing. They're starting too early... Can you imagine? Starting too early?! Well that defies Mathematics...