Advice For First Job

lonewolfsigmamgtow · 2019-05-25T09:37:48+00:00

Just be a GHOST. You just have to shut your mouth and keep your head down and do your job brother. The gynocentric world is a clown world nowadays people are having a meltdown over anything & everything.

2019-05-25T13:34:42+00:00

At the start of your working life you should be investing in things that maximize your earning value:

a reliable vehicle (truck for certain jobs)
formal education in a useful field
informal education to bolster a skillset, overall mental ability or area of knowledge
emergency funds so you dont end up paying credit card rates and/or more to a fix a serious problem that could have been fixed earlier for less

A good early goal is to save for a down payment on some property so that you are effectively paying rent into your own retirement account. If you plan to live light, move around a lot, travel, etc, then grab a small slice of land somewhere rural that won't break your bank and won't require a lot of maintenance.

Short term investments should have fixed rates of return. Find the highest possible rate for the period you will be 'locking it in'.

Long term investments should be into the stockmarket. This is with funds that you will not touch until your retirement. This is because the stock market has big swings up and down, but in the long run it offers the best overall returns. While it may be up 14% one year and down 7% the next, over a 30 year period you will average (hopefully) around 6-7% returns. You can mix it up with various stock indices based on your risk appetite, but that is beyond a post like this.

$10k per year for 30 years at 7% with reinvested earning is $1m in 30 years. That's the key to retirement savings. As you get older you'll start transitioning to a higher share of bonds and smaller share of equities, but you don't need to worry about that until your late 30s at the earliest.

Learn to live frugally in your day to day. This will help you to build lifelong discipline, establish healthy habits, save money, weather inevitable periods of bad luck and enjoy really nice things that you can afford because you don't waste money on eating a shitty fast food lunch every day.

rogerhuston · 2019-05-25T09:11:32+00:00

For now, save as much as you can. You'll get grips and it will fly by without you even realizing it. Put it into a high yield savings account, maybe treasury notes/bonds/etc... and wait until you may be more business savy and you'll thank yourself later.

edit: And where are my manners, congratulations.

themasculinemonk · 2019-05-25T18:34:02+00:00

I don't know what your living situation is. But if you're living a home consider yourself lucky.

When you start "adulting" the three big expenses will be board, transportation, and food. I suggest getting use to saving for these expenses now. So I'll give you a ballpark of how much each for these will cost per month.

For board depending on where you live might cost $650-$1000 per month.

For Transportation I recommend buying a used car ($2000-$6000 upfront cost)+ insurance $100-$150 per month+$100-$200 for gas per month.

For Food it might range from $100-$300 per month.

Let's say your total monthly expenses are $1650 per month. Get use to the idea of saving $1650 when your expenses are essentially zero. Develop the habit of saving. Developing that habit is more important than the money itself because once that habit is in place you can always figure out how to make and save more money.

Try to save at least 6 month to 1 year of living expenses. $1650x 12 = $19,800.

A good book I recommend is Dave Ramsey's Total Money Make over

NEVER GO INTO DEBT

Never buy a new car, do financing, or lease.

Obtain other frugal habits.

Use a bike for transportation. Save $350 per month plus the upfront cost of getting a vehicle.
never eat out. Make your own food. Do meal planning (make all your meals for the week in one day)
Reduce or eliminate your board expenses. You could get a roommate, live with your parents, live in your car, be a beach bum or be homeless. This will give you an opportunity to save even more money rapidly.
don't buy clothes, jewelry, drugs.
buy in bulk
Rid drug and alcohol addictions. Alcohol especially at bars at expensive. Weed is insanely expensive. Blow is a rich man drug for a reason.
You already know this. Women are the highest risk and expense. Stay MGTOW or wear a condom and flush that bitch down the toilet.

I also recommend once you rid your debt or have no debt, have an emergency fund of 6 months- 1 year of expenses you start investing asap.

I currently use Betterment.

Their online savings account gives your 2% interest compared to usual .02% from generic banks.

They also offer all sorts of retirement accounts. I recommend the Roth IRA. Tax free retirement plan.

Then invest in Index Funds at Vanguard. Doing Real estate or starting any online business or small business and start building those money making assets.

Good luck!

ihurtmyangel · 2019-05-25T09:12:31+00:00

Read books by Jim Cramer between now and then. Open an account and put what you have learned to use.

throw_7 · 2019-05-25T12:41:40+00:00

Save it up for car and car repairs.

tearteto1 · 2019-05-25T13:44:17+00:00

If you're 17 you can just use it to save it up for cars / repairs. When you're 17 I doubt you'll get decent rates. You could use bank savings account with high monthly interest and then just shuffle money around to get it.

ihurtmyangel · 2019-05-25T13:48:01+00:00

I always recommend one of his older books called Getting Back to Even. It is his reasoning on what your stocks should be like when the market is bad. Do that for a solid base and tgen you can gamble with the market on other things later.

Title	Advice For First Job
Author	JoeOverthrow
Upvotes	7
Comments	10
Date	May 25, 2019 9:09 AM UTC (7 years ago)
Subreddit	Posted in /r/MGTOW
Original Link	https://old.reddit.com/r/MGTOW/comments/bssjgp/advice_for_first_job/
Archive Link	https://theredarchive.com/r/MGTOW/advice-for-first-job.459850 https://theredarchive.com/post/459850

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