What would you tell 19 year old you?

Question

Hey everyone,

I'm a 19 year old college student at Penn St (and from the area) studying electrical engineering with a little money to start investing with. So far I have only invested in stocks, but I would like to have a little more control over my portfolio. I'm most interested in any advice successful/experienced people have. Even if it's just a book recommendation, I would like to hear what kind of advice you would have given yourself at 19. Any tips are greatly appreciated!

Ryan Billingsley · Answer

That was a long time ago!  I would of told my 19 year old self to buy Apple, Google, and many other stocks!!  Haha!  But on a more realistic note I would of given my 19 year old self rich dad poor dad and explained financial freedom.

Joel W. · Answer

I would tell myself: "join the military, its only four years and you will reap the experiences, lessons, and benefits for the rest of your life. When your done at are 23 get out get a job, and begin investing with your VA loan in a fourplex. Get an education from there. It can be from a college that is paid for by the 9/11 GI Bill (tuition and housing allowance covered) or begin the real life stuff (ex. agent or contractor). get a hold on your spending habits, otherwise you may marry the love of your life and hers and your spending habits will doom both of you (a potential mate that doesn't have or won't develop good defensive wealth building tactics will become very unattractive)"

That's what I'd tell myself, and will tell my kids if they want old pappy's advice.

Jeff Greenberg · Answer

My recommendation is simple. Go to as many real estate events/meetings as you can to learn about the different ways to make money in RE investing.  Find an active expert in the area that fits your interest. Find out how you can help them.  Unselfishly give your time and energy to helping them.

Read the forum started by Nicholus West.  He is 20 and now owns part of a multimillion  dollar portfolio.  He also was interviewed on joefairless.com

Todd Campbell · Answer

Dear 19 year old self,

I'm not sure where to being, but I guess the starting point should be about breaking down some walls. You have always had your own way of doing things, even if it meant doing extra work, or putting in extra effort. There is nothing wrong with that, but I want to understand a key distinction. You don't have to follow the pattern (go to school, get good grades, get a good job, keep your head down, put money into a 401k, use investment bankers, and retire).  I want you to start by reading Rich Dad, Poor Dad. It's a quick read, but it doesn't matter you are going to have a hard time putting it down, you love this stuff.

Next, you should meetup with that girl at school who just started landlording with her parents. They are very smart, and you will learn a lot from them. Don't worry about not being able to invest right away, there is plenty of time for that after you have learned under them for a few years.

In the year 2000 your friend Zack is going to tell you how he made a few thousand dollars in the stock market. This will lead to your first rental property purchase. Hopefully, you would have learned a thing or two in the last 8 years while working with that girl and her family.  If you need a reminder, screen those tenants, and trust me "it is better to leave a property vacant, than to fill it with the wrong tenant."

If you have been listening this long, I don't need to tell you to listen to your mentor about buying properties during the frenzy. Sometimes the best deal is the one you didn't make.

Discover biggerpockets sooner!

Remember, education is expensive. You can pay for your education in by making mistakes, investing money, or investing time.  Let me give you a hint 19 year old me, investing time is going to be on your side at your age.

Oh yeah, you know those ideas you come up with and say, "but who would ever buy that?"  It doesn't matter, they are all homeruns. Knock them out of the park!

- your 42 year old self

Sean Kuhn · Answer

Take all that money you saved up and leverage yourself to the hilt on rental properties. Max out everything. I was 19 in 2007

Sterling White · Answer

@Joshua Cetnarwelcome to the site!

1)Read more

2)Failure is your best friend(fail fast and learn).

3)Traveling into the unknown isn't as scary as general population makes it out to be(starting a company).

4)Listen to Earl Nightengale's "Strangest Secret"

5) You create your own destiny

Matthew Nixon · Answer

@Joshua Cetnar

Welcome to the site. I grew up in State College but did not go to Penn State.

I would tell my former self to read GOALS! by Brian Tracy. Great book to help build a success mindset and helps get rid of those self-limiting beliefs.

Joshua Cetnar · Answer

I also just read Rich Dad, Poor Dad! I picked it up from the library and had it finished by the afternoon. Great book.

Joshua Cetnar · Answer

Thanks for the advice everyone! I've been listening to the podcast whenever I can to hear about the stories of other investors and learning from them. I also try to read whenever I have some free time.

Any book recommendations?

Beau Romstedt · Answer

Education ,education, And massive action !!always be listen to the bigger pockets podcast ,and find a mentor and never listen the negative people.

What would you tell 19 year old you?

Most Popular Reply