Financial Advice for a 16 year old MGTOW?

[Anonymous 0]

Greetings Gents! I am looking to seek some financial advice that’ll come in use. (Get the milk and cookies, beer and snacks…whatever you like.) So, I’ve always been a long term thinker and the kind of guy who plans ahead. I would like to have a good chunk left to buy a couple of rental properties. Anyways, let me organize my idea chronologically. So, I don’t really want to take up a job dealing with customer service of any kind, that includes the retail, fast food, and restaurant industries. I know I’m not fit for any job dealing with customer service. After I complete high school (currently in my Junior year), I would like to attend a local community college and major in Computer Engineering. I love tech whether it be classical or contemporary, analog or digital, mechanical or electrical. I would also like to start a couple of businesses here and there, as I can’t see myself being a corporate slave/drone. I don’t really have the herd, pack, hive, or conforming personality/mentality to work “for” or “under” someone.

Anyways, is there anything I can do to generate income whenever I turn 18? I’ve been looking into the stock market and familiarizing myself with the economic terminology. (Excuse the lack of organization of this post.)

[RoyDalParticipant]

I made my pile in income producing real estate. Look up “Rich Dad, Poor Dad” in a large library. No matter what happens, be it inflation, deflation, war, invasion, or any other disaster, people will always need a place to live. Be the man who provides them their roof over their heads, and charge them rent. By that means, you will always get by and prosper.

Society asks MGTOWs: Why are you not making more tax-slaves?

[chirParticipant]

Rental properties look good on the surface but friends who have owned and managed a few will tell you its no walk in the park. Main problems are tenants and taxes. Property and school taxes are getting pretty horrid as many counties and states try to maintain budgets by raping their constituents. Tenants can destroy a property and disappear. Women signing on the lease is a certainty that they will level some sort of discriminatory lawsuit at you if you try to recoup from all the damages they inflict on the property. Had this one friend who was a woman and owned a rental property, it took her 2 years and multiple lawsuits to kick another woman out because she was a “disadvantaged woman” (lol, translation, takes no responsibility for poor life choices). Imagine if you were a man trying to evict a woman. Feminists would be up in your s~~~ claiming you were Satan for evicting a woman because she had not paid in a year.

However. Owning your own property is a solid way to prepare for the future. Save up. You wont have to pay for a woman and spawn so as a single man you can save money fast. I would recommend learning a trade. Trades will always have work. Unless you are learning programming, you will be better off taking IT certifications rather than going to IT school which can be a scam.

If you are going to play the market, make sure you protect your earnings while you use a portion of your funds as “mad money” to play the market. I also recommend buying a little physical silver or gold to protect yourself. By physical I mean in your hands. The stock market silver and gold trading is a ponzi scheme waiting to crash.

Mgtow goal is to own some property, be as self sufficient as possible and not feed the feminist beast ruling our country now. Starve the Beast. Good luck, travel if you can to see the world, and enjoy life. Only go around once so enjoy it with a vengeance. 🙂

It is by caffeine alone I set my mind in motion, it is by the beans of Java that thoughts acquire speed, the hands acquire shaking, the shaking becomes a warning; it is by caffeine alone I set my mind in motion.

[CatsPawParticipant 423]

If you are serious about looking for financial advice at 16, you are on the right track.
My advice, Start searching. You will need to have at least 3 points of view in most aspects on your financial before you can estimate that you have enough information to make an educated guess.

I started my journey at 30, and most people around me are still amazed that at 30 I am “already” looking to get my currency into order.

Anyway, you will have to be a drone or slave, at least for a while, to get you started.
People like Bill gates say that they worked everyday over 10 hours since 12 to 30 before their business was what it is today.
I dont know anyone who works that hard in my personal life, but its clear that success is not easy nor free.

[DrAK74Participant 77]

Save and invest my boy, save and invest……..Properties can be good investments, but stay away from the trap of receiving government tenants for a guaranteed rent check….NOTING BUT A HEADACHE! I agree with Cats Paw, you will have to work for someone for a while while you gather your seed money. Also, find opportunities to earn….they are all out there, but they are often disguised as hard work. Take every opportunity to add to your pile of cash and soon it will be growing on its own. Lastly, don’t fall for entertaining yourself with silly gaming platforms or soul sucking HS girls, both will sap your will and your cash pile. Good luck young man, the world is your oyster if you are willing to take it!

[economistParticipant 225]

Hi there, it’s nice to see you taking an interest in your future before you’re even out of high school. I would caution you not to say you will “never work” service, retail, or other entry level jobs. Putting yourself on a pedestal like that is silly, I would recommend getting some job experience no matter what it is. Even if you’re a fresh graduate from school that doesn’t mean you’ve ever worked a day in your life or can punch a clock on time. Which, even if you’re a software developer, is a necessary skill. Another thing I would tell you is save twenty or thirty percent of all of your income, and you will be stacked before your early 40’s if you are NOT successful.

[TaxGuyParticipant]

A few observations, and these are my opinions only. First, I would be hard pressed to buy real estate right now. I’m in the US and not sure where you are, but on a macro level housing prices are too high. The Federal Reserve replaced a demand bubble in real estate with an interest rate bubble. When they do eventually raise interest rates, housing prices are going to fall. I wouldn’t buy real estate until that bubble has burst. Unless you believe that the Fed is so smart that they can raise rates at the perfect amount at the perfect time. If you do, you have more faith in the Federal Reserve than I do.

Second, spend less than you earn. Duh, right? But keep your standard of living below your income so always have bullets in the gun when the time comes to invest.

Finally, read. Rich Dad Poor Dad is good, Warren Buffett. I like a guy named James Altucher and the Casey Report. Don’t take any of this as gospel but they will give you different perspectives on investing.

Order the good wine

[BritGHOWParticipant 2566]

Two things I learned growing up:
1. Work hard for your money, then make your money work hard for you.
Part of that:
2. The rule of thirds. If at all possible limit your cost of living to one third of your take home pay, spend up to another third on yourself, what ever you want, you earned it, save the last third, high interest accounts, investments, property again whatever you want, just make sure you do your homework and spread your risk.

[Biggvs_DickvsParticipant 3725]

I would advise being VERY WARY of buying property in most urban areas right now. At sixteen you’re probably several years away from being in a position to do so anyway, and that’s probably a good thing because:

* Many places are at a near all-time high for income to purchase price ratio. 1.5-2x annual income for purchase price has been the yard stick for hundreds of years. Go past that ratio, and the odds of non-repayment go up sharply. Many areas, especially tech heavy ones like the Bay area, Seattle, or Denver are at 5-6 times annual income.

* Historically high student debt vs historically low degree based employment. While we may have low employment officially, the number of young people with a degree who can’t get a job that the degree was supposed to net them has never been higher. These are the “Barista graduates” and there has never been anything quite like this in (at least this country’s) history.

* Huge wave of baby boomer retirement just getting started, and many if not most in this age group are depending on selling their house to retire. Since the aforementioned graduates are clearly not going to have the money to buy that they have in the past, this could, and very likely will cause an extreme lack of new buyers which for generations, have been the reason for house prices being fairly dependably keeping up with inflation. “That train has sailed,” as Austin Powers would say.

* Watch for a mad stampede to the exits once the aforementioned (hopeful) retirees realize everyone else has the same idea and there aren’t enough buyers to fund everyone’s retirement. He who first lowers his price to what the aforementioned barista grads can actually afford wins.

* There is a possibility that the Chinese “investors” using the EB-5 buy-a-green-card-for-$500k program may keep things afloat for a while, but with China’s economy in trouble, you have to wonder how many more people with a half million dollars to kick around will continue to show up.

Keep your powder dry. You might do okay if you buy somewhere where the prices haven’t been run up through the stratosphere.

Look up the case-shiller index and other housing metrics from unbiased sources and you’ll find prices are still well above historic norms, and that’s not even accounting for the perfect storm on the horizon of the baby boomer retirement intersecting with the younger generation having less earning/purchasing power than ever before. Look out below!

"Data, I would be delighted to offer any advice I can on understanding women. When I have some, I'll let you know." --Captain Picard,

[Anonymous 0]

RoyDal wrote:

I made my pile in income producing real estate. Look up “Rich Dad, Poor Dad” in a large library. No matter what happens, be it inflation, deflation, war, invasion, or any other disaster, people will always need a place to live. Be the man who provides them their roof over their heads, and charge them rent. By that means, you will always get by and prosper.

Sure thing, but “Rich Dad, Poor Dad” is still relevant? I’ve heard that title thrown across the net a couple of times, I guess it can’t be all that bad. But, thanks for the advice!

[Anonymous 0]

chir wrote:

Rental properties look good on the surface but friends who have owned and managed a few will tell you its no walk in the park. Main problems are tenants and taxes. Property and school taxes are getting pretty horrid as many counties and states try to maintain budgets by raping their constituents. Tenants can destroy a property and disappear. Women signing on the lease is a certainty that they will level some sort of discriminatory lawsuit at you if you try to recoup from all the damages they inflict on the property. Had this one friend who was a woman and owned a rental property, it took her 2 years and multiple lawsuits to kick another woman out because she was a “disadvantaged woman” (lol, translation, takes no responsibility for poor life choices). Imagine if you were a man trying to evict a woman. Feminists would be up in your s~~~ claiming you were Satan for evicting a woman because she had not paid in a year.
However. Owning your own property is a solid way to prepare for the future. Save up. You wont have to pay for a woman and spawn so as a single man you can save money fast. I would recommend learning a trade. Trades will always have work. Unless you are learning programming, you will be better off taking IT certifications rather than going to IT school which can be a scam.
If you are going to play the market, make sure you protect your earnings while you use a portion of your funds as “mad money” to play the market. I also recommend buying a little physical silver or gold to protect yourself. By physical I mean in your hands. The stock market silver and gold trading is a ponzi scheme waiting to crash.
Mgtow goal is to own some property, be as self sufficient as possible and not feed the feminist beast ruling our country now. Starve the Beast. Good luck, travel if you can to see the world, and enjoy life. Only go around once so enjoy it with a vengeance.

Yeah, in addition to owning several businesses, I’d like to own this home one day: http://www.zillow.com/homedetails/3311-Del-Monte-Dr-Houston-TX-77019/27844753_zpid/ alone with some personal property outside of the city. I’ve saved several pins on pinterest dedicated to self-sufficiency and homesteading, that’ll prepare me to be independent of %95 of the system. I’d rather not hire females, rent to females, or deal with females, unless absolutely necessary. Yeah, I’ve been programming since I was 11, still learning new stuff and what not. I’m trying to get into not only software, but hardware as well. Yeah, there’s two economies, the real one and the false one. The false one being the stocks, bonds, and finance industry.

[Anonymous 0]

CatsPaw wrote:

If you are serious about looking for financial advice at 16, you are on the right track.My advice, Start searching. You will need to have at least 3 points of view in most aspects on your financial before you can estimate that you have enough information to make an educated guess.
I started my journey at 30, and most people around me are still amazed that at 30 I am “already” looking to get my currency into order.
Anyway, you will have to be a drone or slave, at least for a while, to get you started.People like Bill gates say that they worked everyday over 10 hours since 12 to 30 before their business was what it is today.I dont know anyone who works that hard in my personal life, but its clear that success is not easy nor free.

Agreed, although I’d rather perform a job that is related to my career path.

[IGMOW (I Go My Own Way)Participant 2572]

Anonymous wrote:

RoyDal wrote:

I made my pile in income producing real estate. Look up “Rich Dad, Poor Dad” in a large library. No matter what happens, be it inflation, deflation, war, invasion, or any other disaster, people will always need a place to live. Be the man who provides them their roof over their heads, and charge them rent. By that means, you will always get by and prosper.

Sure thing, but “Rich Dad, Poor Dad” is still relevant? I’ve heard that title thrown across the net a couple of times, I guess it can’t be all that bad. But, thanks for the advice!

The idea of converting money into assets that continue to generate positive cashflow (this is a core point of Rich Dad, Poor Dad) is valid. What is seen as a main way is real estate that does this, but other assets can do the same. Idea of Rich Dad, Poor Dad is cashflow, not appreciation of asset value, but revenues generated from assets owned. There is also the four sectors which are relevant to.

"I am my own thang. Any questions?" - Davis S Pumpkins.

[Anonymous 0]

economist wrote:

Hi there, it’s nice to see you taking an interest in your future before you’re even out of high school. I would caution you not to say you will “never work” service, retail, or other entry level jobs. Putting yourself on a pedestal like that is silly, I would recommend getting some job experience no matter what it is. Even if you’re a fresh graduate from school that doesn’t mean you’ve ever worked a day in your life or can punch a clock on time. Which, even if you’re a software developer, is a necessary skill. Another thing I would tell you is save twenty or thirty percent of all of your income, and you will be stacked before your early 40’s if you are NOT successful.

I’m not putting myself on a pedestal. I’m just saying, I know my traits and I would not be fit for a job deal with customer service, or the retail industry. I don’t really like dealing with people much. I’d much prefer an internship at a technological based company or something of that sort. I know that I can’t continue to smile and serve someone who disrespected me at a fast food job or within a store.

[Anonymous 0]

TaxGuy wrote:

A few observations, and these are my opinions only. First, I would be hard pressed to buy real estate right now. I’m in the US and not sure where you are, but on a macro level housing prices are too high. The Federal Reserve replaced a demand bubble in real estate with an interest rate bubble. When they do eventually raise interest rates, housing prices are going to fall. I wouldn’t buy real estate until that bubble has burst. Unless you believe that the Fed is so smart that they can raise rates at the perfect amount at the perfect time. If you do, you have more faith in the Federal Reserve than I do.
Second, spend less than you earn. Duh, right? But keep your standard of living below your income so always have bullets in the gun when the time comes to invest.
Finally, read. Rich Dad Poor Dad is good, Warren Buffett. I like a guy named James Altucher and the Casey Report. Don’t take any of this as gospel but they will give you different perspectives on investing.

I live in Houston, the housing prices are a bit high here. I’m sure they will be restored to a more lower rate, as everything in this market as it is is currently overpriced. Yes, I wouldn’t buy until the bubble bursts as well, as then it will be a buyers market. Overall, thanks for the advice!

[Anonymous 0]

Thanks for the advice!

[Anonymous 0]

Biggvs_Dickvs wrote:

I would advise being VERY WARY of buying property in most urban areas right now. At sixteen you’re probably several years away from being in a position to do so anyway, and that’s probably a good thing because:
* Many places are at a near all-time high for income to purchase price ratio. 1.5-2x annual income for purchase price has been the yard stick for hundreds of years. Go past that ratio, and the odds of non-repayment go up sharply. Many areas, especially tech heavy ones like the Bay area, Seattle, or Denver are at 5-6 times annual income.
* Historically high student debt vs historically low degree based employment. While we may have low employment officially, the number of young people with a degree who can’t get a job that the degree was supposed to net them has never been higher. These are the “Barista graduates” and there has never been anything quite like this in (at least this country’s) history.
* Huge wave of baby boomer retirement just getting started, and many if not most in this age group are depending on selling their house to retire. Since the aforementioned graduates are clearly not going to have the money to buy that they have in the past, this could, and very likely will cause an extreme lack of new buyers which for generations, have been the reason for house prices being fairly dependably keeping up with inflation. “That train has sailed,” as Austin Powers would say.
* Watch for a mad stampede to the exits once the aforementioned (hopeful) retirees realize everyone else has the same idea and there aren’t enough buyers to fund everyone’s retirement. He who first lowers his price to what the aforementioned barista grads can actually afford wins.
* There is a possibility that the Chinese “investors” using the EB-5 buy-a-green-card-for-$500k program may keep things afloat for a while, but with China’s economy in trouble, you have to wonder how many more people with a half million dollars to kick around will continue to show up.
Keep your powder dry. You might do okay if you buy somewhere where the prices haven’t been run up through the stratosphere.
Look up the case-shiller index and other housing metrics from unbiased sources and you’ll find prices are still well above historic norms, and that’s not even accounting for the perfect storm on the horizon of the baby boomer retirement intersecting with the younger generation having less earning/purchasing power than ever before. Look out below!

Yeah, I’ve got two to three more years until I can legally purchase things on my own. I live in Houston and have noticed that the housing prices are high. I know of the barista graduates. As far as it goes with those baby boomers, they didn’t do so well with their finances then and we are paying for it now. I’m worried of how this will effect me, but until then I continue to plan ahead and think long term. Thanks for the advice!

[Anonymous 0]

IGMOW (I Go My Own Way) wrote:

dalvarez wrote:

RoyDal wrote:

I made my pile in income producing real estate. Look up “Rich Dad, Poor Dad” in a large library. No matter what happens, be it inflation, deflation, war, invasion, or any other disaster, people will always need a place to live. Be the man who provides them their roof over their heads, and charge them rent. By that means, you will always get by and prosper.

Sure thing, but “Rich Dad, Poor Dad” is still relevant? I’ve heard that title thrown across the net a couple of times, I guess it can’t be all that bad. But, thanks for the advice!

The idea of converting money into assets that continue to generate positive cashflow (this is a core point of Rich Dad, Poor Dad) is valid. What is seen as a main way is real estate that does this, but other assets can do the same. Idea of Rich Dad, Poor Dad is cashflow, not appreciation of asset value, but revenues generated from assets owned. There is also the four sectors which are relevant to.

Ah, okay. So the book is relevant in this day and age then. Thanks for the advice! I’ll head to the local library and check out a copy, if I really like the book I’ll purchase it and add it to my personal library.

[Author]

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