The big 18 and adult things?

[BuzzH]

Totally agree, I already mentioned that in this thread. A lot of people were out of work for a lot longer than that though they burned through that and then some.

No, there really wasn't.

I'm sure you did, how many days were you out of work?

I'm not trying to derail this kids thread Buzz because its a good one and you and I probably align on more issues than not. But once again for a union rep and a guy who is always talking about the working class I think you prove to be pretty far removed from it. Akin to your snarky, arrogant comments on the no tax on OT thread and various others. Have a good evening.

I don't disagree that short term shit can happen. You just cant let a small speed bump slow you down.

Not far removed from anything. My entire family are as blue collar as they come...lumber mills, railroad, creamery workers, etc. All had/have pensions so investing wasn't necessary.

Different deal for my generation and those trailing. Although, in fairness I chose a profession that includes a pension on the advice of my parents and grandparents.

I also took the advice given to me by a close friend about investing in the market. He is 1 of only a few people that I would trust with anything, including my life. His advice has made me more money than I will ever spend. So simple too...

The OP has the most valuable thing that most commenting on this thread don't have and that is early investing opportunity and long window to acquire all he will ever need.

I have counciled a lot of coworkers on retirement investing. Some took the advice and are beyond happy with the results. Others didn't and thats fine too.

 

[homestead]

If there’s something you want to do, hunting, traveling, whatever, do it sooner than later. Be financially sensible. YOU DONT NEED ANOTHER PERSON TO COMPLETE YOUR LIFE, so learn to be good with and by yourself.

 

[Nick87]

I don't disagree that short term shit can happen. You just cant let a small speed bump slow you down.

Not far removed from anything. My entire family are as blue collar as they come...lumber mills, railroad, creamery workers, etc. All had/have pensions so investing wasn't necessary.

Different deal for my generation and those trailing. Although, in fairness I chose a profession that includes a pension on the advice of my parents and grandparents.

I also took the advice given to me by a close friend about investing in the market. He is 1 of only a few people that I would trust with anything, including my life. His advice has made me more money than I will ever spend. So simple too...

The OP has the most valuable thing that most commenting on this thread don't have and that is early investing opportunity and long window to acquire all he will ever need.

I have counciled a lot of coworkers on retirement investing. Some took the advice and are beyond happy with the results. Others didn't and thats fine too.

Sure. 08 wasn't a small speed bump for some though that took years just to get back to break even. A lot of that was on them and spending habits for sure. But that doesn't change the fact that it was major for a lot of people not just "hey were not going to cancunfor the next two winter breaks" let's just all hope that isn't looming anytime soon. I swe everything from people.losing there house to divorce to literally suicide so family could get life insurance money. I wish I was exaggerating.

 

[Nick87]

And we bailed out the banks. Disgusting.

 

[BuzzH]

Sure. 08 wasn't a small speed bump for some though that took years just to get back to break even. A lot of that was on them and spending habits for sure. But that doesn't change the fact that it was major for a lot of people not just "hey were not going to cancunfor the next two winter breaks" let's just all hope that isn't looming anytime soon. I swe everything from people.losing there house to divorce to literally suicide so family could get life insurance money. I wish I was exaggerating.

A big part of 08 was predatory lenders that got off scot free. Those that did it should still be in prison.

I will say again you cant let a couple bad years deter you from long term retirement investing.

Stay the course.

 

[JShane]

"Don't treat a company or business like a living breathing thing, because it isn't and it aint gonna treat you like one either."

 

[Charlie Bob]

I did buy a $9k shotgun used for $2800.

Or did you buy a $2800 shotgun ? Value is subjective .

 

[cgasner1]

I may not understand how most of the market works but I do believe having an understanding of how compound interest affects any sort of a 401 would be huge for a kid at this age. I know guys that rob from their 401 because they don’t understand it in their 40s. Go watch one of the videos on how much money you need to rat hole to get a 401 to 3 million it’s insane a couple hundred bucks a month now will move mountains for you later

 

[Nick87]

A big part of 08 was predatory lenders that got off scot free. Those that did it should still be in prison.

I will say again you cant let a couple bad years deter you from long term retirement investing.

Stay the course.

100% I hear you what im saying is it took a lot of people with trades jobs etc almost a decade to get back to where they could save enough to invest money (thats probably a stretch 5 years more like it). Your not investing or buying sales when your out of work, i feel like ive said that enough now? Our local was literally handing out boxes of food to members following the crash. Different worlds i guess.

 

[recon6036]

Live with your parents and bank all your money for a down payment on a house…

 

[JShane]

This kid opened a can of worms.

 

[Nick87]

@TrapperJ Don't ever let women come between you and your friends. That one you'll regret ill guarantee it. Women come and go especially ones who will put you in that position.

 

[Bighorner]

If you are looking at a physical long term job I would look at becoming a lineman. It pays well and offers a fair amount of job security in an a largely uncertain and changing job market. A lot of co-ops still have pensions. It's important to be smart financially and it will make your life much easier, but it will not replace the people and experiences that will make life happier. It looks different for everyone. Remember that it is the people in our lives that bring happiness not things.

 

[cgasner1]

If you are looking at a physical long term job I would look at becoming a lineman. It pays well and offers a fair amount of job security in an a largely uncertain and changing job market. A lot of co-ops still have pensions. It's important to be smart financially and it will make your life much easier, but it will not replace the people and experiences that will make life happier. It looks different for everyone. Remember that it is the people in our lives that bring happiness not things.

I feel like in this trade to some degree the pension is over rated. We can make so much more money not being a a co op. I’d look for a balance of work life before I just settled with a pension. It’s a great big world with a lot of opportunities I wouldn’t let that be the reason I kept a job in this trade

 

[Wyoming270]

If you have to get loans for living expenses you went wrong somewhere along the way.

Sometimes you have to choose between accessibility and growth. For younger folks, they are probably better off with it inaccessible and making better returns. That’s not to say you should invest a house down payment fund in stocks. But, putting everything in a 5% CD is terrible financial planning.

Also, if you want to look at short term blips, you are correct. When you look at long term returns it’s not even close.

You don’t beat inflation by purchasing used stuff. You beat inflation by outperforming it in your investments.

A house is the category of living expenses. Most people do tend to finance those.

 

[Wyoming270]

I feel like in this trade to some degree the pension is over rated. We can make so much more money not being a a co op. I’d look for a balance of work life before I just settled with a pension. It’s a great big world with a lot of opportunities I wouldn’t let that be the reason I kept a job in this trade

Your right. A pension should be a bonus not the deciding financial factor. Most people wont make it at the same place to see a full pension. Lot of places close on people, or they need to move at some point. Look at how many people get career fatigue because they stay just for the pension.

 

[Nick87]

I feel like in this trade to some degree the pension is over rated. We can make so much more money not being a a co op. I’d look for a balance of work life before I just settled with a pension. It’s a great big world with a lot of opportunities I wouldn’t let that be the reason I kept a job in this trade

My 401a (company paid i cant contribute) is kicking my pensions ass, has been for about 18 years. Not even close.

 

[El Jason]

@TrapperJ Don't ever let women come between you and your friends. That one you'll regret ill guarantee it. Women come and go especially ones who will put you in that position.

Unfortunately, so do friends. Make sure you bet on the right horse.

 

[El Jason]

A house is the category of living expenses. Most people do tend to finance those.

Do you take out a loan to cover your mortgage payment?

 

[Nick87]

Unfortunately, so do friends. Make sure you bet on the right horse.

I guess I was referring to dont mess around woth your buddies sister or ex girlfriend. But yah, what you said too.