A letter to your younger self!

New thread just wondering if you could write a letter to your younger self in relation to investing/share trading, ip's, money management or even beliefs and views on becoming financially independent what would you change or look out for if you had the chance again?!

Strange post it just curious on mistakes ppl have made and either still make and how and why they want to change!

Cheers!

 

I would say - "Wisely invest (not just save) 10% of your income. Stick the course and you will never have money worries again"

 

Easy DON'T marry the first wife.

 

Earn more money to build the bankroll faster.
I only got $175/week for my first year out of school.
It don't matter what you do, just get the cash and the experience will come.

 

Perhaps it should be 'marry the first wife cheaply'. Without the first, you can't have the second (or a third).

 

perhaps that was his point??

 

I wouldn't give myself any advise about investing, I would focus on being happy.

My advice "tell more people to F off and sooner"

Time and happiness is more important than money. You can never make up the time people steal from you, but you can always make more money.

 

Classic!!!

 

1. interest only loans are fine, as is LMI
2. buy as much blue-chip property as you can as early as you can.. for affordability issues, see above!
3. don't just buy shares, buy into solid businesses that pay dividends

 

Buy more Sydney property!!!

 

Learn about property investing while in school, and save at least 20% of all the part time after school work towards buying investments.

Realise the difference between a doodad loan and investment loan.

 

Listen to your dad, buy that town house he drove you passed when you were 20...