I met with a friend who’s a financial adviser and she gave me some insight, but i would like to look it up more thorough, so I was wondering if any financial experts could just inform me of names of savings ideas and plans, and I can look them up. I am 25 single degree in education and I bartend, so when I get a teaching position I should have around 70k salary Between the both. Thank you all who reply
#1 by I_think$ on August 10th, 2010
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One rule of thumb is to be cautious when the financial advice comes from someone wanting to sell you a product (maybe not the case with your female friend). Make a budget, because your taxes and expenses will go up too [suits and ties as a teacher, dependable car, may stop bartending, ...] Your savings and investing options are open.
#2 by justin on August 10th, 2010
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A good “saving idea” only has one name, it’s called a bank! Just save your money and avoid incurring unnecessary debt. If you have a car, make sure it’s paid off. If you have credit cards, pay them off. Don’t buy a house if you can’t afford to put a large down payment on it, 20% is a good amount.
Whatever you do, don’t get married or have any kids. Stay single! Getting married will most likely derail your future aspirations as well as deplete your savings account. A vasectomy would be about the best investment you could make right now. If you must have kids either adopt or find a sperm bank if it must be from your own genes. If you knock up some drunk girl at the bar she will suck that 70k in a heartbeat. You don’t want to pay for some stupid girls new SUV, do you?