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/biz/ - Business & Finance

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215740

Anonymous Sat Mar 15 11:57:11 2014 No.215740 [DELETED]

[DELETED]

[Reply] [Original]

Searching for life advice!

Just paid off the last of my debt, being a retard in my teens lead to me spending all of my earnings on partying & bullshit however its now out of my system and I'm ready to move on with my life.

>24 years old
>Earn £24,000 gbp a year will be promoted by the age of 30 and earning £30,000 a year
>Have zero outgoings other than a mobile phone. I don't even have to buy food or pay for laundry as I'm in the navy
>Get a £5k bonus this time next year

How much would you save in my position? Although I'm not on a huge wage I'm guessing the fact I have zero outgoings and don't have to pay into a pension works massively in my favour.

How would you invest in my position and how would you save?

Should I just sacrifice everything, save as much as I can get on the property ladder and start renting the place out as a secondary income?

All advice much appreciated

INB4 asking to be spoon fed!

>>	Anonymous Sat Mar 15 12:00:11 2014 No.215745 Fucked up, I will be promoted by next year which will make me 25

>>	Anonymous Sat Mar 15 12:16:10 2014 No.215767 bump

>>	Anonymous Sat Mar 15 12:26:40 2014 No.215782 File: 1.96 MB, 3000x1687, 1394115682522.jpg [View same] [iqdb] [saucenao] [google]

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Anonymous Sat Mar 15 13:00:17 2014 No.215839
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>better thread than yesterday
Despite what people on 4chin say, don't put anything in alternative assets, most of them lack strong liquidity and are difficult to value. Asking you to save 100% of your post expense income, with your level of expenses, would be unreasonable, but high levels of savings could really help you. If I were you, I'd try to save around 15,000GBP per annum and put it in mutual funds like the Putnam Absolute Return 500.
>inb4 shilling, I don't work for them.
If you do that for five years and then just leave it alone until you're 60, you'll have about an 80,000GBP retirement salary per year without touching your principle.
>leave your principle to your family, let them be rich too
Also, read a shit load on valuation and trading. Day trading and going long are two different paths to financial freedom. Take 1000GBP and long it or put it in a leverage account and trade FOREX with it. Be ok with losing this money. Finally, any money you have left that you don't want to blow on cheap whisky and loose women, look at placing in alternative assets.
>no cryptos pls.
You're in a great place. Don't piss it away.

>>	Anonymous Sat Mar 15 13:00:47 2014 No.215838 bump

>>	Anonymous Sat Mar 15 13:02:47 2014 No.215841 Invest in Vanguard Total Market funds. Also read this site: http://the-military-guide.com/

>>

Anonymous Sat Mar 15 13:08:47 2014 No.215851

Sorry for taking OPs thread, but I have a dilemma as well.

>uni has no tuition fees, no accommodation fees because I live at home, I even get a scholarship worth thousands
>Scottish government let you borrow £4.5k a year as a student loan
>student loan meaning it only goes up with the national interest rate, you only pay it after graduation, and only if you have a job (basically a loan that can't fuck you up the ass)

Would I be dumb in not taking this to invest?

>>	Anonymous Sat Mar 15 13:12:17 2014 No.215855 >>215839 Brilliant advice. Now I have some research to do

>>	Anonymous Sat Mar 15 13:13:18 2014 No.215857 >How would you invest in my position and how would you save? i saved half of the money i've made

>>	Anonymous Sat Mar 15 13:17:17 2014 No.215864 >>215857 Thinking of limiting my spending to £200 a week leaving me £700 savings a month. £8,400 plus my £5,000 bonus will give me £13,400 savings in one year.

>>

Anonymous Sat Mar 15 13:24:18 2014 No.215873
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>>215851
Learn the terms of the loan, not familiar with Scottish law or conditional loan restrictions, but if it's kosher, take the money. Worst case scenario: 18k debt to a socialized education system. Putting it all in mutual funds (>>215839
like this) would probably give you enough to pay back your loans and still have some sweet gains. If you're experienced or willing to become experienced, trade. If you're ballsy as shit and think you can do it, start a business with that.
>Boost your CV
>potential for profit

>>215864
This

>>	Anonymous Sat Mar 15 14:05:41 2014 No.215934 >>215839 what phase is doge in now??

>>	Anonymous Sat Mar 15 14:09:41 2014 No.215945 File: 704 KB, 160x160, bateman laughin.gif [View same] [iqdb] [saucenao] [google] >>215934 Denial, rolling into bull trap

>>	Anonymous Sat Mar 15 14:13:41 2014 No.215959 save 75% after you hit a decent sum in your savings, use 25% to start investing

>>	Anonymous Sat Mar 15 14:31:09 2014 No.216001 >>215945 >such a pure meme >can't be, no...

>>	Anonymous Sat Mar 15 14:33:09 2014 No.216007 Thanks for all the advice guys. It seems if I sort my financial life out now whilst I'm young I will reap the rewards in the not so distant future

>>	Anonymous Sat Mar 15 14:40:39 2014 No.216018 >>216007 What does navy life consist of daily and yearly?

>>	Anonymous Sat Mar 15 14:43:09 2014 No.216029 >>216018 Depends on which branch (trade) you are and whether you are along side or at sea, any specific questions?