I am completely lost financially. Looking for advice.

wegsty797 · 2021-03-17T17:17:49+00:00

[deleted]

Dizmal · 2021-03-17T19:25:42+00:00

Have you seen breaking bad?

mustard5 · 2021-03-17T16:36:53+00:00

You have to get behind the wheel and drive.

As this clip so eloquently expresses, you have to create the person you want to be.

https://www.youtube.com/watch?v=fgT9zGkiLig

Many people believe that they are the victim of external circumstance and the they let life drive. When you have the epiphany that you need to be the person behind the wheel, you can start to plan your route to a better future.

Good luck in your journey.

Arnoux · 2021-03-17T16:01:48+00:00

I'm 28. I assume I have way higher net worth than people in my age. I was saving money since I was a little kid, like 10. Obviously my savings were low before I started working but I still kept that habit and now saved a decent amount.

Also got a degree and moved up on career ladder a couple of times until I was happy with my salary.

I also like to check the deals in the nearby supermarkets and buy in bulk if something is cheaper.

The fundamentals are simple. Save more and earn more. I haven't found any magic yet. You just have to grind for years even if you hate it.

There are some subreddits what I used to check time to time, like frugal, financial independence, eatcheapandhealthy.

DS_1900 · 2021-03-17T21:59:19+00:00

Hey OP, are you 21? If so I think I know who you are!

cunningcaring · 2021-03-17T16:17:40+00:00

Get a job - lots out there. Then, get into a trade or into college, whichever suits your personality. If you can’t find a job you are not trying.

MarsPornographer · 2021-03-17T18:01:51+00:00

Maybe consider the military. Guaranteed pay, food, housing, and medical care for the length of your contract. Financial benefits that extend passed your service (tuition assistance and cheap home loans). Also training in a specific field that can take you in many different directions depending on what you actually sign up for (some military contracts are trash, so due diligence is a must).

You'll also have tons of down time to figure out what you want to do if the military doesn't end up being a permanent life solution.

SenorTonto · 2021-03-17T17:43:05+00:00

if you arent in debt as I read in one of your comments then you are in a good place. Others have given you good advice on jobs/trades you can pursue so I wont go there. A good book is the millionare next door. it talks about how 10% of millionares acquire their wealth and its nothing magical. Its saving your money and marrying someone who can contribute to that financial ascend. One of the examples in the book is a fireman who is married to a secretary. Over time with saving, 401k, etc they were able to ascend into that 10% of millionares. Nothing magical. Just being frugal and teamwork.

Also you need to pick something and stick with it. Barely anyone likes their job so just pick something you can tolerate where you can make some money and start investing and saving. Over time you will acquire wealth. The 20 something year old or even the 30 year old wealthy man is a rare specimen. Most men become wealthy or acquire sustainable wealth that can get them past retirement into their 40s and 50s.

If you have no kids and no debt you are good. Just get to working on something and develop some discipline. If your dad can help you achieve your goals there is nothing wrong with that. Use what resources you can. We arent meant to go about life figuring things out on our own. He knows you will pay it back when he can no longer take care of himself

chasingexcellence · 2021-03-17T21:08:16+00:00

I'm 27 and just now getting my shit together financially. I'm severely ADHD and live almost completely in the moment, which resulted in lots of partying, impulsive spending, and zero financial literacy. I relyed on my dad a lot through my early 20s and never really knew what it was like to earn my own living.

I currently am paying down debt from my party years. I own a Photography business and do UberEats to fill in dead time. I avg $35 an hour on UE and pull in anywhere from $150 to $1500 a week with my business.

I have 5 bank accts plus a business acct. I have it split up into "Income," "taxes," "fun money," "emergency fund," and "personal pay." I learned this method from the book Profit First. If there's food on my plate, I will eat it hence the separate accts. I have a spending card with Cash app that I give myself allowance through.

Basically, if you don't structure your finances, you will continue to flounder and feel lost.

MonxtahDramux · 2021-03-17T19:11:31+00:00

Sorry about that man. Awful position to be in.

But if you're down bad, you need to do whatever it takes (legally) to make a buck. Here are a few ideas:

Dress well. Cut your hair.
Start an errand service: Knock on doors and tell people you'd help them run errands for $X bucks. Transportation is on them. Offer one free service to prove your trust.
Start a home-painting/cleaning service: Painting isn't easy but not the hardest to learn. Take money from #1, watch a couple YT videos and buy a brush set. Knock on doors and tell people how you can help them feel anew in their household.
Buy some empty frames and print royalty-free photos on them to sell on EBay. Make a deal with the printer to increase your $$
Can you drive? Got a license? Help people pick their kids from school (I know there's COVID. Dropping this here for anyone if we ever get out of quarantine)
Saved enough? Learn MS Excel. It is the closest you may get to be a programmer. Most SaaS apps aren't that different from what Excel can do. Walk into small/mid businesses with offers to track their inventory/earnings/marketing so they can gain useful insight.
Crypto and Stocks: Check YT and download free books on those.

Get your mind and body right. Pushups if you can't hit the gym. Remember, no one cares about you but themselves. Use that to your advantage.

Always improve your skills. A degree doesn't mean shit.

Books? Get the fuck out there and make some buck. Read afterwards.

benhurensohn · 2021-03-17T15:15:48+00:00

Surely your age will reveal your identity. 🙄

Check out Dave Ramsey for financial advice. He has gotten many people out of debt and put in a good place.

Ask_For_Cock_Pics · 2021-03-17T17:23:35+00:00

Have talents and skills, I didn't graduate college, but in my free time I would look up tutorials on software like premiere pro (video editing) and photoshop (image editing), wordpress (web development).

I got pretty good at doing things, and people started to notice. Then someone hit me up to work as a video editor for their company. I did good work and got promoted to lead video editor. They asked if I'd be interested in learning hands on camera work, and started doing a bit of directing for the company.

Atrp1961 · 2021-03-17T17:13:50+00:00

Sounds like you are trying to start from scratch.

Start with something basic like delivery (ubereats, favor,etc) wont be much but u won't be homeless or starve.

Save some money, and look for something you are good at. People sell custom stuff on etsy is a good basic start. Grow and venture out from there.

I would say stay away from stock market unless u plan to stay invested long term (years).

-Bran- · 2021-03-17T17:16:09+00:00

1) check out the 2 checking account system. There’s a YouTube video on this. High level is you have 1 account for automated bills and 1 for fun spending. The bills has a full extra paycheck of cushion just in case. Get a savings account for emergencies. 1k to start, add 6 months after you tackle debt. This helps to let you see how many fixed expenses you have and will help you start to cut on subscriptions, get rid of car payments, change internet/phone etc because it gives you more money to save.

2) add your accounts to mint or one of the budgeting apps. This will show your monthly spending and allow you to setup a simple budget to adhere to.

3) Dave Ramsey is good to follow for fundamentals and the psychology of stopping all your bullshit spending, learning to say “no” and getting out of debt.

4) once that is down, begin more advanced information beyond basic budgeting, psychology, and getting out of debt. Start reading the common sense investor and other top selling investing books. Learn about passive index funds, watch Graham Stephens personal finance YouTube, join subreddits like FIRE, bogleheads etc.

It took me till age 30 to get to step 4 so it’s a long road for some.

Remember, having a great income helps but is not required. It’s about how much you can save/invest.

Who’s going to have more $ in 10-20 years,a dentist racking in 300k that has a 100k car and a luxurious lifestyle of expensive dinners, clothes etc. and 400k and student loans and other debt which leads to almost no savings.

or, a chemistry high school teacher with no debt that’s driving a paid off 2014 civic putting half his 50k salary in a passive index fund that tracks the S&P 500 around 8% return?

You’ll figure this out soon enough.

Good luck.

Casanova-Quinn · 2021-03-17T17:19:51+00:00

Personal Finance: https://www.thebalance.com/

Investing: https://www.investopedia.com/

DoItForDalebaby · 2021-03-17T16:50:07+00:00

Go take a year in a trade. Electrician, HVAC, welding, heavy equipment operation, carpentry. Blue collar jobs will always be in demand and they pay well until the Chinese and Mexicans take over then you’ll be paying them for cheap labor. Women also don’t find blue collar very enticing for them but your young so grind and stack money and precious metals and maybe some stocks. Get a Roth ira and maybe some other mutual fund( I haven’t tried one yet). You’ll be set buddy. You’re already fine you don’t have student loan debt or heaps of debt anyways so figure it out. Don’t marry or get a women pregers and if you do all of that it’s very possible for you to drive 911 turbo by the time your 55. Cheers buddy.

-since · 2021-03-17T17:12:39+00:00

Go for Blue Collar, or learn to code.

The solid foundations of finance is a consistent income.

wowkwo · 2021-03-17T18:35:53+00:00

Work, live at home, Buy bitcoin and HODL. You will thank me later

SiLLY__Go0Se- · 2021-03-17T21:22:49+00:00

Do the male version of becoming a stripper bro

hollabomb · 2021-03-18T00:54:37+00:00

You have gotten a lot of advice, but this is your own adventure. My advice?

1) Military 2) learn a trade, or 3) go back to school

RustyTurdlet · 2021-03-18T01:25:06+00:00

Bigger pockets money podcast has great info.

Zdzblo · 2021-03-18T02:09:42+00:00

Are you a hard worker? Are you willing to work your ass off to make great money. Can you force yourself to be bold and keep going no matter the circumstances? Look up some summer sales programs. Selling pest control door to door can be great money. A nephew of mine in his 20s sold pest control door to door last summer and cleared 50k in about 4 months of work. Some make more. Many make much less because they can’t handle it. I sold alarms for 2 summers and I learned more real world skills from those two summers than I did from my graduate degree. If you want to eventually start your own business, sales skills are the number one priority in my opinion. If you’re not selling a product then your selling an idea or selling yourself. These same skills transfer over to everything in TRP as well. A lot of people look down on these sales jobs, but I’m convinced it was the key to my success in my career.

tropicsGold · 2021-03-18T03:27:11+00:00

This is a great topic for TRP! The good news is that with that attitude, a little hard work and success is guaranteed, it just takes a little time, and your first ideas may not work. But if you keep at it, you will find the niche.

First off, you don’t typically want to jump right into entrepreneurship from unemployment. You need to make enough for Raman and such. And you need some basic experience. Fast food may be a start, but try low level positions in a field you would like to enter. You need to learn the ropes. You need to learn the basics. I learned a lot about hiring managing and firing from my first fast food job. The key is to Learn from the job, don’t just drift along.

Some fields to consider. Amazon selling is absolutely huge opportunity right now. I have clients (I am a patent attorney) making millions, and it takes no formal education. It does take a little startup capital, but not much, and a lot of learning. There is a lot free on YouTube. There are many great seller groups. If you can work with an Amazon seller, or even in Amazon itself to start, you can work up to your own business.

Real estate is the root of all real wealth. Huge opportunities and no formal education. Start as an agent and work up. Once you learn the biz, find good investments for investors. Then partner with them. Then do your own. Start with small residential, work up to shopping malls and apartment complexes. Construction may be a place to start. Or Work for an agent while you get the license. Lots of entries, huge back end.

madfox99 · 2021-03-18T06:26:44+00:00

You need to learn skills if you haven't gone to college.

Go to trade school or get into STEM asap. I recommend trade school. Be ambitious and be an electrician or plumber and make 6 figures easily.

knicks2021 · 2021-03-17T16:02:12+00:00

Ahhhhh, you sound like a pussy.

Don't hate yourself for that.

Do know, there are plenty of gents out here who would be happy shovelling shit so they can get to the next level.

"Tried looking for employment, but literally everything is closed right now."

Suppose you are going to starve to death then?

Millions of years of evolution, leading up to this moment, where your bloodline dies.

Because of what? Sit and contemplate, what your father's father would say, and then what his father's father would say.

Economies always oscillate, sit and bitch and/or ask dumb questions and go extinct.

VigilantCMDR · 2021-03-17T20:05:29+00:00

first of all, red pill really is at its "Core" a self improvement forum, not a seduction forum. so your question is more than acceptable.

second, let's look at this: you want to start a business, good.

i recommend reading the millionaire fastlane, there is a whole bunch of entrepreneurship books for free in TRPBooks including rich dad poor dad etcetera.

start reading yesterday, finish those books, i cannot explain how important millionaire fastlane and unscripted are. i now run my own successful business because of it.

you only have high school education? that's ok. sign up for your local community college and start taking some of ur generals. you don't need to be a full time student or anything, but even 1-2 classes a semester can make a dent while you're still trying to figure out what you want to major in.

employment? fast food or gov. job. they are always hiring. even Mcdonalds pays like $7k a year for your college or something like that. that's a good place to start while you start to build yourself.

invest that income in your business, or something like REITs/dividend stocks. if you really can, put that money towards buying a house using the house hack.

i think your question 'any ideas what this business could be' would be answered in the millionaire fastlane.

there are quite a few posts on the main sub about running businesses and entrepreneurship, so do read them- i don't know how you didn't find anything worthwhile

feel free to msg me or reply here I'm more than willing to help with whatever

mabden · 2021-03-17T17:03:22+00:00

>I am willing to do work I just don't know where or how to start

Look into the trades. Electrical, HVAC, Plumbing, Carpentry. If you can find an apprenticeship program, that is the best way in.

Also to kick start that path, look into the local BOCES programs for courses in Electrical/HVAC you can take. Upon completion (at least for Elec.) they will set you up for taking the licensing test.

It's work, but once you have several years under your belt working for a master, you can go independent if that's your goal. Those types of skills are easily traveled anywhere.

ApoIIoCreed · 2021-03-17T17:04:17+00:00

Ways to make money without a 4-year college degree:

Trade School
- Doesn't have to be physically demanding. Being a CAD tech is a 2-year degree and you'll be making $60k after few years of experience/company hopping.
Learning to code
Sales

Without knowing your age and interests I cannot really give you specific advice.

I Will Teach You to Be Rich by Ramit Sethi, is hands-down the best intro book I've read on the topic of becoming financially literate and building wealth. I read it in 2018 and it set me on a very good path. It will get you to stop thinking like a poor person. Most people my age, <30yo, think like a poor person, They look at money as something they need in order to buy shit (making themselves poorer) instead of something that they should be investing so they can buy shit with the returns (making themselves richer). Once you get to the point you can live off your 4% of your portfolio, you're pretty much set for life and could stop working if you want.

Subreddits on wealth/investing/financial literacy:

personalfinance
- The flowchart in their wiki is the bible of personal finance is is well-regarded in all of the subs I mention below.
leanfire
financialindependence
bogleheads

Pezotecom · 2021-03-17T18:15:43+00:00

Learn about Bitcoin and you win in life.

GetThaMop · 2021-03-17T20:24:51+00:00

start scamming !!!!!

Spartawolf · 2021-03-17T17:50:59+00:00

I recommend Wholesale Ted. Ignore all the paid course guru bs and take from it what you need. This is a good video to get you started. Merch is easy even if you're not an artist. Just take royalty free images or manipulate existing art to make it different.

Helpcalculus · 2021-03-17T18:17:07+00:00

What do you know, what are your interests?

cfbovernfl · 2021-03-17T23:58:44+00:00

Can't say your age for privacy reasons? What? I'm 22, go find out who I am right now.

Stupid...

Aubrey_D_Graham · 2021-03-17T16:33:09+00:00

This isn't financial advice but anecdote. Because of the online brokers like Robinhood, stocks are liquid assets. There are two kinds of stocks, long and short. I put the majority of my money stocks on positions I intend to go long 1+ years, but the short options I treat as liquid cash, which means I can sell at any time and withdraw. You get taxed in all capital gains. Keep that in mind.

SkeletonTwoTone · 2021-03-17T21:56:29+00:00

I’m not personally red pill(On my way there) but I feel like I can put input you didn’t wanna say your age so this makes advice kind of hard. But in terms of starting your own business mix what your passionate about with the long term needs of society. You can be as passionate as you want about your buisness but if people don’t have use for it it is bound to fail First of all at this point any income will do so I might suggest working at Walmart their always hiring. And invest that money into your business and work your way up.you gotta start somewhere.What about your living situation is that sorted?If so then I believe i just checked all the boxes in terms of a plan.Ps. Feel free to call me out if I said something wrong .

Title	I am completely lost financially. Looking for advice.
Author	Pajca
Upvotes	0
Comments	76
Date	March 17, 2021 3:01 PM UTC (5 years ago)
Subreddit	Posted in /r/askTRP
Original Link	https://old.reddit.com/r/asktrp/comments/m72c8w/i_am_completely_lost_financially_looking_for/
Archive Link	https://theredarchive.com/r/askTRP/i-am-completely-lost-financially-looking-for.753128 https://theredarchive.com/post/753128

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