- get out of debt...because eventually someone with a weapon will be at your door...to force payment compliance...
...self reliance STARTS here...
- save and invest “at least” 20% of your take home pay (after taxes)...work up to this via pay raises is the least painful method...
...concentrate your investment in “index” mutual funds (Vanguard or Fidelity or ??? is your choice) (that way when Coke decides white people are too white, you won’t suffer needlessly)...be cognizant of fees and use following percentages:
US funds: 28.5% International Funds: 23.5% Emerging Market Funds: 13% US Real Estate Funds: 20.5% US Bond Funds: 4.5% Emergencies/dry powder/cash: 10%
...do this with the goal of using annual dividends as ALL of your income in retirement (IE, no pension...no Social Security, no other job). As the USA succeeds or fails (long term), adjust your percentages accordingly...this is a “longevity portfolio” and not a “become wealthy portfolio”...
You will find that it will make you quite wealthy...and the peace of mind cannot be valued...
- Start getting healthy...
...proper hydration and eating responsibly will go a long way toward equalizing body weight to more normal levels.
Get active...start moving around again. There is no simple way of saying it...we are a fat, lazy, entitled nation. No one will be coming to help. Make a “get healthy” plan and start executing. The time for “maybe tomorrow” is over.
- Take the fight...to the enemy...financially...
...pare down your spending...become more discerning...stop the wasteful bullshit...
...the US economy is a consumer based economy. Your dollar is the most powerful weapon you have and it’s use in living a lavish lifestyle is your greatest weakness.
...the gov must have you (actually, your money) to continue to torture you. The large corp are in bed with big gov...and shoving it in our faces. They think you are too weak to go back. The time to starve them down and make them think twice before they continue...is now...
- One last word...
...all of these steps I list are tested and effective over many thousands of years and through the worlds absolute worst periods. They are not special and require absolutely no special level of education.
I didn’t create them but I did learn bits and pieces of them over many many years. I put them here only for those looking for ideas of “what do I do now”. I apologize if you have seen this post several times but I am hopeful that new people come here daily and this helps them focus toward positive action. Oh, and if you believe you are too old, too poor, too young, too whatever to begin, you are listening to the wrong people. Those people suck and are probably a big reason why you are...”here”...
As you start ingraining these into your life you will be amazed at how successful you become in all aspects of life. Self discipline creates more opportunity then education, family background, or “lucky breaks”. Not one step is easy which why most don’t try...or give up after a few months....
...are you ready to change??? You know it must happen...
“See you on the high ground” “Embrace the suck”
Part of investments need to be inflation-protected (based on a commodity that is mined; if inflation goes up, the price of that commodity will go up because everyone needs it, ie. if the gasoline price doubles, we will still buy gasoline but we will not buy a new car.).
Real estate is not a true inflation-protected investment. Inflation causes real estate value to increase; higher interest rates cause the value of real estate to decrease.
I would add:
All good advice. I'm on board for most of it.
One thing I am very grateful I did was, 10 years ago, I decided that CA was unfixable and going to shit so I moved out to the mid-west. IMHO, it's one of the best decisions I ever made.