I am working on writing up some thoughts for a nephew about to graduate and go off into the world. I definitely have lots of thoughts, but given this forum is a nice gathering of men who have done well in life and lived some adventures, I am interested in advice and pearls of wisdom from this group of men and the handful of women here too.
Debt is slavery. Slaves never make a mark on the world.
Debt makes you take less risk and fail to reach your potential.
Coveting your neighbors property usually results in buying the same lousy stuff neither could afford.
Save as much as possible early when you're poor, those dollars are far more valuable than saving everything you earn later.
Never buy a loaded mutual fund or an annuity.
Never by whole or universal life insurance.
Set aside $10k as fast as you possibly can in an interest bearing account. NEVER buy an extended warranty. Carry huge deductibles on all your insurance products. The $10k is the catastrophic deductible fund you may never use, but you've saved hundreds of thousands of dollars in your lifetime.
OPEX is how you stay poor. Do not buy anything that has a recurring charge. Not Netflix. Not subscription services for goods. Nothing. If you can't pay cash and buy it outright, you can't afford it. (exception is cell phone...they got us with that one)
Always have a sport coat and khakis clean and ready along with a button down shirt. Always accept an invitation that requires one. Reevaluate your life choices if you think you don't need them.
Assume everyone in a social event hates you on sight. Give a firm handshake and be polite, by the end of the conversation everyone will have reevaluated their opinion.
People that do exceedingly well in life do it by living a lower standard than anyone imaginable. In turn they get so wealthy they live a higher standard than anyone imaginable 30 years later.
Whatever you save, calculate that amount today with it doubling every 7 years until you retire. That's what the money is worth. Whatever you spend, realize how much lower quality your future life will be by inverse.
Only buy durable goods that hold or go up in value. Do not buy disposable items.
Learn how to service and maintain everything you own.
When you're young and broke, work on your own cars. When you meet a damsel on the side of the road way above your batting average, fix her car and get her number.
Even if they are legal, you cannot financially afford recreational drugs.
If you're socially enjoying recreational drugs, you're in the wrong place because you're supposed to be business networking and volunteering.
Never date a woman with a high body count. A slut is a slut and you won't marry her. If you do marry her, the odds of her divorcing you is absurdly high. (80% plus)
Avoid women that don't at least consider being a stay at home mother. If she's career oriented the odds are higher she will decide to upgrade to someone else. Since she's not family oriented its likely she isn't going to pair bond with you.
Don't marry a woman unless you're broke and miserable together first. If you can make it through hell, she's a keeper. Entitled women are everywhere, but the woman that joined you in the suffering will have gratitude.
Select girls to date that have great relationships with their fathers.
Avoid women with loads of student loan debt, especially if in the humanities, psychology, or social work. They've harrangued themselves and you with a debt noose they will never repay. They've shown impulsivity and illogic that will lead to financial ruin. 80% of divorces are due in part to financial problems.
If you can't say it in front of the lady, either stop doing it or get a new lady. That could be financial spending or activities.
Find the cleanest girl you can and only marry them if they snicker when you tell them a dirty joke.
Select for friends and spouses that have profound sense of duty. Military service. Caring for an ailing relative. Active in their church or temple. Loud mouth lefties are everywhere but people that shut up and step in to be the positive change are rare. Find the latter.
Make sure that 100% of your employees are driving vehicles 150%-200% the value of yours. If its not the case, you're going broke and the employee with the beater is going to eventually take your job.
Always arrive early and leave late at work, even if unpaid. The person that works 10% hard gets noticed and they make millions more over their lifetime due to natural promotion.
Beware of second homes, boats, RVs, horses, and other items that need massive maintenance. Most people cannot afford to maintain them properly and very few people follow the wise rule of only buying them when 100% debt free and at not more than 10% of their total net worth.
Host dinner parties. Acquaintances become reliable friends when you let them into your home.
Never owe somebody money.
Always overpay your portion of the bill. Better to be an idiot that be deemed miserly.
Be able to cook at least 2-3 world class recipes. No woman wants a man that cannot handle the kitchen duties occasionally.
Pre-made foods are just glop. Don't buy them. Never serve them to others.
Women age poorly. Always look at the mother and grandmother's health and skin. A solid 6.5 woman at age 25 that stays out of the sun will be a 9.5 by the time she's 40. Sun worshippers hit the wall before they are 35.
Never forget, every duty of a married man is legally and contractually enforceable: quality time with kids, paying for braces, having a good job, alimony/child support, etc. Every duty of a married woman is contractually and legally un-enforceable: great and frequent sex, charming, demure, kind to your kids, a good civic volunteer, done up and pretty, charming the pants off colleagues so you make partner, etc. Be very wary of marriage in light of these facts or you'll marry the wrong woman and pay dearly.
Never leave a woman with a car that has low tire pressure, needs an oil change, has trash in it, or is low on gas. Don't ever do it. Not ever. You'll see.
Never, ever make a second meal for a child. They become entitled brats you cannot take out to dinner. In turn you do not do social events with your kids which in turn means they never reach their potential.
Always shine your shoes, its one of the first things people notice. It says a lot about your preparedness and propriety.
