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79 votes
Accepted

Should a high-school student invest their (relative meager) savings?

You should invest in that with the best possible outcome. Right now that is in yourself. Your greatest wealth building tool, at this point, is your future income. As such anything you can do to ...
Pete B.'s user avatar
  • 76.2k
36 votes
Accepted

Paying off debt and living within means vs. long term planning

Frugality When someone mentions living frugally, I always point to the book "America's Cheapest Family". I'm not affiliated with this book in any way and do not gain anything from promoting ...
computercarguy's user avatar
36 votes

Paying off debt and living within means vs. long term planning

In my opinion, your idea is bad and your husband's idea far worse. You need to find a way to live within your means, that is spend no more than 84K/year. That could be done in a few ways: You get ...
Pete B.'s user avatar
  • 76.2k
24 votes

Paying off debt and living within means vs. long term planning

While your husband's basic premise that debt is reasonable to secure higher earning potential, not all debt is created equal. For example, mortgage debt may be reasonable because the interest paid is ...
NL - Apologize to Monica's user avatar
18 votes

Paying off debt and living within means vs. long term planning

This statement My attitude has always been that I prefer to live frugally and within our means both because it is a good habit and because I have always been very afraid of debt. and this ...
sevensevens's user avatar
  • 4,099
14 votes

Best way to start investing, for a young person just starting their career?

I started my career over 10 years ago and I work in the financial sector. As a young person from a working class family with no rich uncles, I would prioritize my investments like this: Achieve the ...
James Jones's user avatar
9 votes

Is an academic career financially feasible for me?

This is a difficult question to answer. To address the specific points of your question: I'm a nontraditional student interested in pursuing an academic career in the humanities. If you were already ...
0xFEE1DEAD's user avatar
  • 8,498
6 votes

High-risk investing is better for the young? Why?

What is the importance or benefit of the assumption that high-risk is preferable for younger people/investors instead of older people? Law of averages most high risk investments [stocks for examples, ...
Dheer's user avatar
  • 57k
5 votes

Paying off debt and living within means vs. long term planning

While it is true that our family can help us out, I prefer to be self-sufficient as much as possible and would be mortified if we had to ask for help. You have your answer right here. If they can ...
Julien Lopez's user avatar
5 votes

Resources to begin trading from home?

As JoeTaxpayer has commented, the markets are littered with the carcasses of those who buy into the idea that markets submit readily to formal analysis. Financial markets are amongst the most ...
not-nick's user avatar
  • 6,410
5 votes

Should a high-school student invest their (relative meager) savings?

You have a few correlated questions here: Can you invest with limited capital? Yes you can. There are only a few investment strategies that require a minimum contribution and those aren't ones that ...
Lilienthal's user avatar
4 votes

High-risk investing is better for the young? Why?

There's two reasons. One is that you have a longer time horizon, other answers cover that. The second is that for someone who is younger, most of their capital is human capital in terms of their ...
DanTilkin's user avatar
  • 1,698
4 votes

High-risk investing is better for the young? Why?

The reason that you are advised to take more risk while you are young is because the risk is often correlated to a short investment horizon. Young people have 40-50 years to let their savings grow if ...
NL - Apologize to Monica's user avatar
4 votes
Accepted

Buying house on a loan when you're just starting a career

is it a smart thing for an entry level employee with a basic pay to buy a property on debt ? This is opinion based and can't be conclusively answered by others. Only you can make the choice. Their ...
Dheer's user avatar
  • 57k
4 votes

What types of careers consistently make the most money entering with no background or social skills?

You may think it sucks to have learned a crap ton of category theory, which is seemingly useless outside of academia, but have you considered picking up a "functional" programming language, e.g. ...
Jane's user avatar
  • 41
4 votes
Accepted

How to save as much money as possible from my salary?

The way to save more is to pay yourself first. What this means is to treat your savings like a bill you HAVE to pay every month instead of something you do with the money you have leftover at the end. ...
JohnFx's user avatar
  • 53k
3 votes

Buying house on a loan when you're just starting a career

I would strongly consider renting; as homes are often viewed by people as "investments" but in reality they are costs, just like renting. The time-frame for return is so long, the interest rate ...
McFlySoHigh's user avatar
3 votes

Paying off debt and living within means vs. long term planning

A university education puts you in trouble financially during and quite some years after the education while it in general pays off in the long run. It makes sense to finance this education by debt, ...
NoDataDumpNoContribution's user avatar
3 votes

High-risk investing is better for the young? Why?

I'm going to diverge from most of the opinions expressed here. It is common for financial advisors to assume that your portfolio should become less risky as you get older. Explanations for this ...
farnsy's user avatar
  • 15k
3 votes

Resources to begin trading from home?

Since then I had gotten a job at a supermarket stocking shelves, but recently got fired because I kept zoning out at work This is not a good sign for day trading, where you spend all day monitoring ...
Brythan's user avatar
  • 21k
3 votes

High-risk investing is better for the young? Why?

If you spent your whole life earning the same portfolio that amounts $20,000, the variance and volatility of watching your life savings drop to $10,000 overnight has a greater consequence than for ...
CQM's user avatar
  • 20.2k
3 votes

Should a high-school student invest their (relative meager) savings?

At your age (heck, at MY age :-)) I would not think about doing any of those types of investments (not savings) on your own, unless you are really interested in the investment process for its own sake,...
jamesqf's user avatar
  • 11.1k
3 votes

Is an academic career financially feasible for me?

As was pointed out on your question on Academia SE, regardless of financial considerations, if you are unwilling to relocate it is going to be difficult to pursue an academic career, period. ...
BrenBarn's user avatar
  • 23.9k
2 votes

Should a high-school student invest their (relative meager) savings?

IMHO It is definitively not too early to start learning and thinking about personal finances and also about investing. As for investing real money, I agree with Pete B's answer that your financial ...
cbeleites unhappy with SX's user avatar
2 votes

Paying off debt and living within means vs. long term planning

Whatever you decided to do, whether to live within your means or to continue your current lifestyle, or something in the middle, what you must do is make a concrete plan. Sit down with your spouse ...
Lie Ryan's user avatar
  • 230
2 votes

What types of careers consistently make the most money entering with no background or social skills?

It sounds like you're massively under-selling yourself. You presumably have a degree to get into the PhD program, and you now have work experience as well. But you're applying for jobs in fast food ...
Simon B's user avatar
  • 10.3k
2 votes

Is an academic career financially feasible for me?

It's really important to emphasize that many more people receive PhDs than there are jobs in academia. The vast majority of PhD holders work outside academia. Unless you are truly at the top of your ...
Eric's user avatar
  • 3,642
1 vote
Accepted

Finishing university and not sure if I want to work in my field or to continue my dad's business

As others mentioned in comments, this is a broad subject and may attract opinionated answers; however, I shall share my views. First, you need to do a growth potential analysis of your father's ...
Ironluca's user avatar
  • 1,185
1 vote

High-risk investing is better for the young? Why?

There is no rule-of-thumb that fits every person and every situation. However, the reasons why this advice is generally applicable to most people are simple. Why it is good to be more aggressive ...
Ben Miller's user avatar
  • 115k

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