At nearly 19 years old what should my priorities be?

rictus123

Not really. Im set on accumulating wealth and getting myself as financally secure as i can, as quick as possible but not hurrying if its cutting corners.

I love money and money does make the world go round. None of us would be on this site if it wasnt for money.

bodmil

I just think maybe by the time you've amassed your required wealth, you might look back and wonder if you missed out on a few things along the way.
I do like money but I like being here so I can manage my money as best I can in order to fund some awesome experiences. I'm not one to have money for the sake of having it.

MacsReturns

rictus123 wrote: »

But who was that above, how could i possibly retire at 40? I would love to but i just dont see how i could.

http://earlyretirementextreme.com/

Just think outside the box, most advice here will get you to fit the box more snugly

diable

Chase women, have fun, live your dreams, drink, party, go on holidays, see the world, drive fast cars, be wild and carefree, as one day you will be old and regret all the things you haven't done ;o)))))

margaretclare

You've got the right idea. I agree with much of the advice you've been given so far. In particular, I agree with not treating your overtime as regular income - it can disappear. First and foremost, a 'rainy day' fund of several months' regular salary, then optimise your ISA allowances every year. If you manage to maximise the cash ISA then think of a stocks-and-shares ISA as well. Yes, it will go down, but over 40 years the 'ups' may equal the 'downs' and even out into an upward trend.

Don't pay money on bank charges, credit card charges etc. If you have a credit card, pay it off religiously every month.

I wish all your age-group had the same attitude that you have! I was taught to save at a very young age, when the Battle of Britain was still raging, would you believe. The people who taught me were desperately poor themselves, they knew little beyond the 'rainy day' idea, but they pushed that idea at me for all they were worth. Wish I hadn't been diverted in the intervening years...

Very best of luck to you!

rictus123

Well iv opened up an account for getting into shares. Going to invest a bit at a time,often,spreading the risk. In 5 years i might find this is one of the best things iv ever done. Il love seeing my net worth going up and im investing in me,not wasting my money away.

bodmil

So you just wanted to change your bank accounts, not your priorities at all then?

rictus123

What do you mean Bodmil?

Basicly starting from scratch in August, need to put away as much as possible and get a few k together. Tomorrows the start of June which is good news as my pay is supposed to - and better - go up at the end of the month.

Im going to aim for £750 a month so £3,750 by the end of the year. Saving bond ends in November so thats £700 from there to put towards it. Im going to have a look for current accounts with a high paying apr.

bodmil

rictus123 wrote: »

Now i dont want everyone telling me to go out and live, only young once etc

Just seems like you shot down the topic within your first post.

Lokolo_2

bodmil wrote: »

Just seems like you shot down the topic within your first post.

No need to be so rude is there, the OP works hard and saves money, not spending it like most people in this country are, he should be praised to the fullest extent!

Everyone is different so I don't see what right you think you have to go around telling people to change their priorities just because you don't agree with them!

Well done Rictus123, keep working hard and saving, it will pay off when you get older and have loads of cash to splash :j