Search found 4 matches

by ElevatorGuy
Wed Mar 20, 2013 2:11 pm
Forum: Investing - Help with Personal Investments
Topic: 20 Year Old Seeking Financial Advice
Replies: 17
Views: 1082

Re: 20 Year Old Seeking Financial Advice

Another piece of advice would be to, when you get your raise, keep living like you make your current salary. If your salary doubles but you don't spend any more, that's $30k you can save in just one year. That's a nice house downpayment. To many, this may seem like common sense. But I really apprec...
by ElevatorGuy
Wed Mar 20, 2013 12:37 pm
Forum: Investing - Help with Personal Investments
Topic: 20 Year Old Seeking Financial Advice
Replies: 17
Views: 1082

Re: 20 Year Old Seeking Financial Advice

You are now in a decent spot but realize it is because you appear to be living rent free and I guess your parents are paying for your food. Once paying rent and food, I don't think there will be any excess and maybe even a deficit. I know you do not want advice on the car but you are spending 40% o...
by ElevatorGuy
Wed Mar 20, 2013 12:22 pm
Forum: Investing - Help with Personal Investments
Topic: 20 Year Old Seeking Financial Advice
Replies: 17
Views: 1082

Re: 20 Year Old Seeking Financial Advice

Wow, thanks for all the advice so far. One thing I'm definitely going to do is set up an emergency fund. And one question I have is about the Roth IRA. I already have 15% of my gross income going into my 401K. So is the Roth IRA also a retirement fund or could it be shorter term than that. And shoul...
by ElevatorGuy
Wed Mar 20, 2013 8:38 am
Forum: Investing - Help with Personal Investments
Topic: 20 Year Old Seeking Financial Advice
Replies: 17
Views: 1082

20 Year Old Seeking Financial Advice

Hi all! I'm new to the forum, my name is Charlie. I am a 20 year old elevator mechanic and just started making "decent" money. I'm hoping that because I'm relatively young that with some good advice I can put myself in a comfortable fincancial position. (And if my fiance gets a nice job out of colle...