Real advice I would give any young professional:
-Do whatever it takes to save 20% + of your income
-80% of your energy should go towards increasing your income
-20% should go towards optimizing Investments / finances.
-Taxes matter. Get help or educate yourself on the impacts.
-Avoid the shiny objects (they’re usually a distraction)
-Comparison is the thief of joy. Don’t waste time comparing yourself to others.
-Most of the material success you see is fake anyway
-Don’t forget to live. Pinch pennies on the big things, not the small things.
-Order the appetizer, get your friends drinks, give something to a charity. These aren’t the things that will drain you.
-Credit card debt, the fancy apartment, the house you can’t afford, the expensive car… These are the things that will make you broke.
Here is how I would prioritize financial decisions for someone in their 20’s or 30’s making 6 figures +
1. Maximize your employer’s 401k match
2. Pay off any CC debt
3. Build a 4-6 month emergency fund
4. ESPP (if you have a discount) -> Sell immediately to cover other needs (Like your roth or HSA)
5. HSA Max
6. Roth IRA Max
7. Brokerage contributions
8. Back to 401k if you still have room