Congrats Class of 2021

[BrunswickDawg]

I have no idea if we have any students or grad school students on this board or not -

So if any of you on here are graduating today or tomorrow, congratulations!
Hope you enjoyed the experience and are off to successfully make your way in the world.

As a parent of a member of the class of 2021 I give you this advice I?m giving my child today - "Terrific work - now go get a job!"

[Lord McBuckethead]

Another bit of advice, once you get a job.....max out your 401k and then start an investment account and set yourself up on automatic deposits.

Take your financial plans as serious as your drive to advance in your career.

Another thing, do not rush out to buy a house and spend above your means on getting married and such. Stay within your means.

Also, you do not know everything. Ask tons of questions.

[Commercecomet24]

Another bit of advice, once you get a job.....max out your 401k and then start an investment account and set yourself up on automatic deposits.

Take your financial plans as serious as your drive to advance in your career.

Another thing, do not rush out to buy a house and spend above your means on getting married and such. Stay within your means.

Also, you do not know everything. Ask tons of questions.

Amen! Dang good advice. Solid!

[Dawgbite]

Another bit of advice, once you get a job.....max out your 401k and then start an investment account and set yourself up on automatic deposits.

Take your financial plans as serious as your drive to advance in your career.

Another thing, do not rush out to buy a house and spend above your means on getting married and such. Stay within your means.

Also, you do not know everything. Ask tons of questions.

This is probably the best advice you will ever get right here. I had an uncle who said that you should save 15% of your take home over and above any company retirement plan. He would ask me every time we met if I was saving 15%. It took about ten years in the workforce to understand why but in my early thirties I started saving and trying to catch up for past years. I retired at 55.

[Offshore Dawg]

The sooner you start saving and investing, the sooner your money starts working for you = principle of compound interest and the time value of money

[Offshore Dawg]

Oh and on the subject of marriage. It's cheaper to rent that stuff than it is to own it.

[Joebob]

Another bit of advice, once you get a job.....max out your 401k and then start an investment account and set yourself up on automatic deposits.

Take your financial plans as serious as your drive to advance in your career.

Another thing, do not rush out to buy a house and spend above your means on getting married and such. Stay within your means.

Also, you do not know everything. Ask tons of questions.

Before you worry about starting a retirement investment plan though, you need to build up an emergency cash reserve of several months of expenses. You don't want relatively minor problems to turn into catastrophes which cause you to go into debt.

[BeardoMSU]

Oh and on the subject of marriage. It's cheaper to rent that stuff than it is to own it.

And it's beneficial to marry someone who makes way more money than you, lol.

[Dawgbite]

And it's beneficial to marry someone who makes way more money than you, lol.

Amen brother, and if you can keep her working after you retire it’s just icing on the cake. I don’t agree with Dave Ramsey 100% but his book should be required reading for anyone starting adult life

[Rex54]

And it's beneficial to marry someone who makes way more money than you, lol.

Your goal should be for her not to have to work.

[msudawg1200]

My son graduates with honors tomorrow with a degree in Computer Engineering.

[BeardoMSU]

Your goal should be for her not to have to work.

Uh, huh.

If a girl has a DVM and a PhD, she's gonna work, but sure...

[BeardoMSU]

My son graduates with honors tomorrow with a degree in Computer Engineering.

Congrats dude. I bet you're super proud!

[Commercecomet24]

My son graduates with honors tomorrow with a degree in Computer Engineering.

Congrats!

[BrunswickDawg]

My son graduates with honors tomorrow with a degree in Computer Engineering.

Congrats - my daughter was this morning. Major was Operational Meteorology
She’s a lot smarter than her Dad.

[Commercecomet24]

Congrats - my daughter was this morning. Major was Operational Meteorology
She’s a lot smarter than her Dad.

Congrats man!

[Commercecomet24]

Y'all don't stone me. My oldest son graduates from usm next week, he has a double major in athletic administration and spanish.

[BrunswickDawg]

Y'all don't stone me. My oldest son graduates from usm next week, he has a double major in athletic administration and spanish.

Congrats back!

[THE Bruce Dickinson]

Than you can work for in a lifetime.

Remember these things

[Johnson85]

This is probably the best advice you will ever get right here. I had an uncle who said that you should save 15% of your take home over and above any company retirement plan. He would ask me every time we met if I was saving 15%. It took about ten years in the workforce to understand why but in my early thirties I started saving and trying to catch up for past years. I retired at 55.

That's pretty good advice. I wish somebody had explained to me that 15% was barely adequate when I started off.

If you get 6% real returns (which I view as on the optimistic going forward), and save 15% year in, year out, you'll be financially independent in 38.6 years. Obviously that assumes you will the same amount of money in real terms your entire career which won't be the case, but that means to do any better, you actually have to start saving more than 15% as your salary grows if you want to maintain the same lifestyle in retirement as you do while working. And that assumes that you save every year, and don't have setbacks, which is not going to be the case for most people.

Of course you should have social security on top of that, but I'd never want to be in a position where I felt compelled by my financial position to argue that younger and on average poorer people should have to pay more taxes to support my lifestyle.