I have never felt further behind

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Most people don't have fortunes. I earn five figures, will probably never be able to afford to buy, can't go back to school for more degrees, have no idea at all how to invest (and don't have much money anyway so ...), don't get family money, have never left North America, can't afford vacations, and just ... exist.

Maybe hang out with more working class people?

Thank you for this reality check. I’m going to stop feeling sorry for myself.

Hi OP. Don’t compare yourself to others, unless you are getting a reality check of people in other classes and other parts of the world.

That being said, you said you have no idea how to invest and don’t have much money anyway. This is SO easy to fix. I taught myself over a year just through reading, listening to podcasts and experimenting with some small amounts in apps. If you don’t have a lot just start with $20 here and there.

First, check if your workplace has a retirement plan. If you’re not using it, start. Next, I have used Betterment to begin and it does all the work for you (the Core plan allocates between US/international/bonds). If you get confused easily just stay there and automatically put in a little money every pay period.

If you do want to learn more and start managing yourself, there’s a learning curve but you are totally capable! It’s a myth that you can’t invest.

NP - what are the top 3 books and podcasts have you found useful? There is tons of advice out there…and some of it so obviously bad and hokey.

[Anonymous]

Anonymous wrote:It is surprisingly difficult for people whose parents went to college, knew how to navigate college choices, pick majors, the impact of networking, how to invest (where to look for information, whom to trust), how to buy real estate, understand what a maze it is for someone who had none of that direction. Where to even look or understand the terminology of many scenarios. Then, as you get older, you realize just how much money people have accumulated with the help of not just direction, but economic assistance here and there over time and then sometimes a whopping inheritance on top of it all. It all adds up. Just "studying hard" does not come close to it all.

That said, while you might have missed out on that direction early on, there is good advice on this thread - there is no time like the present to place yourself in a place of security - for you. Now is not the time to compare if you are older. Learn enough to ensure your economic security for later years.

This is so spot on. Neither my wife nor I had any real guidance other than the push to go to college (though mine were dropouts and didn't really know anything beyond that I should go). My early career was a series of bumbling from job to job with no sense of a career. I'm exceptionally lucky that I stumbled into a good career path and ended up very successful. No regrets, but having some experienced guidance could have pushed my success path up by a decade. But I'm just grateful it happened at all.

[Anonymous]

honestly… as long as you’re not part of the asset/ownership class you’re going to be behind.

Starting a business is your best bet to get ahead!

[Anonymous]

Anonymous wrote:If I were you I would stop reading this forum. It is toxic to people who are not upper class. Most of it is bored millionaires who just want to brag and find ways to optimize their finances (how do I avoid taxes while saving $500K for my kids college, while complaining about how terrible Trump and his policies are - hypocrite much?).

And most on this forum are liars…. If you have your good health and one good, reliable person (family or friend) you can trust, consider yourself blessed. Just ignore the ongoing drama around you. Stay focused and embrace gratitude.

[Anonymous]

OP, you sound like my sister. Out of all of us though, she has the "fun" job though it doesn't pay well. She has the most degrees that she got over time because = no kids. She has less the the other siblings, no property, etc. But she has a wonderful friend group, a good life, and she has me, her sib looking out for her. I'm going to make sure she gets the lion share of parents' wealth. So it will all work out for her.

[Anonymous]

Anonymous wrote:what was your major and grad school major?
choices have consequences

DP. I had no direction from adults at all as to the importance of major or career choices. I was lost in the wilderness. By the time I figured things out, it was too late.

On the plus side, I saved as much as I could and did what I could to max my salary.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It is surprisingly difficult for people whose parents went to college, knew how to navigate college choices, pick majors, the impact of networking, how to invest (where to look for information, whom to trust), how to buy real estate, understand what a maze it is for someone who had none of that direction. Where to even look or understand the terminology of many scenarios. Then, as you get older, you realize just how much money people have accumulated with the help of not just direction, but economic assistance here and there over time and then sometimes a whopping inheritance on top of it all. It all adds up. Just "studying hard" does not come close to it all.

That said, while you might have missed out on that direction early on, there is good advice on this thread - there is no time like the present to place yourself in a place of security - for you. Now is not the time to compare if you are older. Learn enough to ensure your economic security for later years.

This is so spot on. Neither my wife nor I had any real guidance other than the push to go to college (though mine were dropouts and didn't really know anything beyond that I should go). My early career was a series of bumbling from job to job with no sense of a career. I'm exceptionally lucky that I stumbled into a good career path and ended up very successful. No regrets, but having some experienced guidance could have pushed my success path up by a decade. But I'm just grateful it happened at all.

Similar story here except my parents went to grad school, but were academics with zero street smarts or financial sense. I had no idea how to make it early in my career and no direction from them. I honestly think someone, like an influencer type, needs to start a YouTube channel discussing all the things to know to get ahead in life if you didn’t have a leg up from your family. How to network. What to wear. How to start investing. Posture. Industries to apply to that you may not have thought about. Business and social etiquette. Social media presence. I could see this being so valuable. It would have been to me.