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<p>[QUOTE=&quot;vpr, post: 1670339, member: 41554&quot;]It all depends on your goals, life choices etc. Here is what I do. Maybe, some of it might be helpful.</p><p><br /></p><p>Investments:</p><p><br /></p><p>0. Invest in yourself first. Get an education, update your skills. Learn something new. Petroleum engineers make 150K straight out of college, these days. I got a Masters last year, and currently applying to business schools for an MBA. Once I&#039;m done with that, I should be able to switch jobs and make at least 20-30% more.</p><p><br /></p><p>1. Put enough into 401K to get company match. 401K has very limited and usually terrible investment choices.</p><p><br /></p><p>2. Put money into Roth IRA.</p><p><br /></p><p>3. Put money into trading account. I work in financial services, so I know my way around trading. And trust me when I say, it isn&#039;t hard. Just spend some time reading, then get a practice account before you start playing with real money.</p><p><br /></p><p>4. Put money into unconventional investments. My goal is to retire asap. I&#039;m 26 now and aiming to retire by 45. I will invest in anything I think I can make money on. Startups, precious metals, options, real estate etc. </p><p><br /></p><p>5. Think about starting a business. Remember that doing what everyone else is doing will never make you rich. </p><p><br /></p><p>Spending:</p><p><br /></p><p>1. Buy a house. Inflation is already as high as rates on a 30 year mortgage (real inflation, not the BS CPI numbers). It&#039;s like getting money interest free. In a few years, chances are that inflation&#039;s going to even start eating away the principal. But, remember to buy something well within your means without accounting for future raises, unless you&#039;re betting that house prices will go up a lot in the future. I bought my house for 1.6 times my annual earnings although my earnings will likely go up since I&#039;m still only 26 and still in the beginning stages of my career.</p><p><br /></p><p>2. Don&#039;t buy a car unless you really need one. Or, share one with the wife. I just use public transportation for the most part, but then again, I live in Chicago.</p><p><br /></p><p>3. Live under your means. I try to save/invest half of my take home pay. I just feel uncomfortable when I can&#039;t.</p><p><br /></p><p>4. Cut healthcare costs. Stop eating out and take that money and invest into healthy, organic, local fruits and vegetables. Think about how much money you will save in the long run by not getting sick. And think about how great your quality of life will be when you are older. You will actually have the health to enjoy the wealth you will have worked so hard to build. This is still work in progress for me. I grew up not having eaten a salad till I was in college. Huge fan of meat and all sorts of ethnic food. So, it&#039;s been a real struggle for me. But the benefits I think will be well worth the sacrifice.[/QUOTE]</p><p><br /></p>

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