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Old 04-14-2014, 12:06 PM
 
Location: Tennessee
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I'm 27 and have had financial setbacks the past few years with the economy and all before getting back on track. If I could do it all over, I'd give this advice to myself a few years ago.

1) You have to get your income up FIRST. It is much easier to save and invest when you aren't feeling "deprived" than having to cut out 10%-15% from things which are needed/useful for retirement. Trying to save on a $25k income is much different than on a $50k income at this age.

2) Avoid debt as much as possible. While it's certainly nice to have a new car, for example, the ability to live on a reduced net income grants a lot of flexibility in terms of career choices, where you can live, other hobbies, etc.

3) You have to do what's best for yourself and your financial future. I'm from a town where there is not only little financial opportunity, but little hope and high crime. Staying in an area that is struggling or around people who are struggling sets yourself up for a lifetime of struggling. It's absolutely imperative to surround yourself with a place and people who can contribute to a positive frame of mind.
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Old 04-15-2014, 07:50 AM
 
Location: Columbia SC
8,969 posts, read 7,741,639 times
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Originally Posted by Geo-Aggie View Post
Hello friends,

I realize I can Google this and read any number of topics of self-proclaimed 35 year old financial "experts" (aka bloggers) telling me to invest 10%, 15%, 20%, invest in a roth after my match, don't use a roth at all, invest everything I can to be comfortable, be risky, be safe, automate, save more now, spend more now, etc. I also realize there will be conflicting opinions here, but what I'm after are those who are maybe late career, or already retired, who've been there and made good choices and made mistakes.

What decisions, when it comes to retirement investing, are you happy with or do you regret? If you could go back in time to meet your 28 year old self, what would you tell him or her? Are you comfortable now? If so, why? If not, what would have made you comfortable? Do you wish you'd have saved less and enjoyed life more when you were young?

Any advice would be awesome! Thirty-five years from now I want a comfortable retirement in a nice suburban home with a $50,000 sports car and yearly vacations to somewhere new, just like all of you wonderful planners!

PS, let's keep this non-specific to me (which is why I provide no personal income/investment info) so any younger person can read and benefit from it.

Thanks!
Do not marry the first wife, get divorced and lose it all thus having to start over.
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