I Am Fifteen, What Can I Do Now?

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I Am Fifteen, What Can I Do Now?

Adrian Grauer
Leander, TX · Member since 2016 · 3 posts · 2 votes

Hello everyone,

Today I signed up for BiggerPockets. I am a fifteen year old boy living in Texas, and my name is Adrian. I don't know if I'm posting this in the right thread, so please tell me if I'm not. 

I have this constant fear of not knowing what to do when I graduate. I have had this issue since (haha) sixth grade, and I am a sophomore this upcoming school year. Architecture and homes in general have always caught my attention, as well as the tiny house movement. 

Bottom line is, I wanted to know if anyone had ideas of what I could do now to prepare. I've been debating on joining the Air Force when I graduate, but I feel being controlled and moved around a lot with a very small pay wouldn't be a good idea.

A few questions-

1. Should I go to college for investing, or any type of finance degree? Would it help me?

2. Is there anything I can do now, at fifteen, turning sixteen in December? Keep in mind, I only have 900 dollars that I'm saving for a car. I can't get a job until I get a car.

3. Are there any books or media that I should take a look at?

Gosh, I'm just really worried. I've always been that way- very organized and always have a plan. My ultimate goal is to be able to live without the fear of finances weighing on my back. I'm going to be reading BiggerPocket's Ultimate Guide to Real Estate Investing, but I would very much appreciate any help anyone could give me on where to start. Thank you.

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Leland Barrow
Investor · San Marcos, TX · Member since 2015 · 272 posts · 360 votes
10y
First of all you have your whole life ahead of you. You are not a typical fifteen year old and that alone will put you a big advantage compared to your peers. I have three daughters so I will give you the advice I would give a son in law. Life is a journey and the journey in itself is the most important part of life. A little worry is good but too much worry can be bad. The military is not what it used to be. As a veteran I would not whole heartedly suggest that anyone join. If you are going to join then I would suggest joining only as an officer (air force) or as a warrant officer (army). I would only suggest joining if it is a passion of yours to serve. Being intelligent and enlisted can be a very frustrating experience. A four year college degree is the equivalent of a high school diploma pre-1990. A Masters degree is the equivalent of a four year degree pre-1990. If you want a career that is rewarding financially then choose an engineering type of field and prepare for 6-8 years of schooling. You do not need a degree to be successful but you do need knowledge. There are two types of people in this world. Those that get paid for what they do and those that get paid for what they know. You should strive to be the second type of person. If that is your goal then look at life's journey as a lifelong education. Always learn and develop a hunger for knowledge. Financially there is only three powerful things to understand. Compound interest The true value of owning assets The power of passive income The American dream is a fraud. The idea of living to own a home that you cannot afford and saving for retirement is the best way to make sure life's journey is boring and hard. Wealthy people have two things that separate them from everyone else. Options Time The more options you have in life directly correlates to true wealth. For example if you cannot quit a job then you are poor and another man's slave. The more options you have the faster that you will accumulate wealth. Always look to expand your options. Time is the only way that wealth is enjoyed. The more time you have to do what you want the wealthier you are. Time + Options = Wealth Read Rich Dad Poor Dad.
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  • Celso Balan
    Investor · Miami, FL · Member since 2016 · 31 posts · 3 votes
    10y
    Save, save save. Get your car when the time is right, go to college, if it's something you want to do, get a job and continue to save, save, save enough for your first down payment. Then, the sky is the limit.
    0Reply
  • Cash Lawless
    Multi-Strategy Real Estate Investor · Brooklyn, NY · Member since 2016 · 12 posts · 7 votes
    10y

    It's great to see someone so young asking good questions. I'll give you some take it or leave it input. 

    A good life is a series of good choices. And our decisions when faced with choices, are rooted in what be believe; our values, beliefs, opinions. So if you want to make a good choice that you are unlikely to regret, make the decision after you've decided what you believe and value about each opportunity. A great way to discover what you believe is to surround yourself with those you admire for the way they live life; those who's behaviors resinate with the person you want to be. As you begin to see characteristics, and values in them that you admire it will be easy for you to identify them in yourself. They will be your mirror so to speak. And this also goes for reading books. When a thought, belief, or value resonates with you as you read, you will again identify more of your values in life. I hope you find these concepts as useful as I did when I was younger. These were taught to me as I am sharing them with you now. If you want to change your life, change the way you think. It is a great, low cost way to start developing yourself. The more you develop yourself, the more equip you will be to use resources like money, time, and people to develop the world you want to see and experience the life you imagine. 

    0Reply
  • Daniel Lee
    Professional · Sierra Vista, AZ · Member since 2015 · 18 posts · 2 votes
    10y

    Join the United States Border Patrol when you turn 18. You can make 100K a year by the time you are 22. And start investing it. It's a good job. Check out Border Wars.

    0Reply
  • Tamara Elliott-Deering
    Real Estate Agent · Cedar Creek, TX · Member since 2010 · 161 posts · 63 votes
    10y

    You've started quite the conversation, I think most of us wish we had started when we were 15. My advice for you is slightly different. You are saving up for a car which is great you will need it for all practical purposes to work in Texas. But what you can do right now is start a small service business, every homeowner has maintenance tasks we hate to do or projects that we could use some help with. Exterior painting, moving dirt, rocks, gravel and prepping gardens, unplugging a drain or installing a toilet come to mind. Look around your neighborhood for older people who look like they can use some help or someone who has just brought home a truck load of stuff from home depot. See if they need help. Earn money doing stuff that will benefit your investing career. I recommend that you first property be a fixer that you live in and do as much of the work as you can yourself. This hands on experience is invaluable when it comes to hiring people and writing and understanding a scope of work.

    As for college it's up to you, the best architect I know worked his way through college in the trades. It really helped him understand the difference between what can be drawn and what can be built. Construction Management is also a great field to study if you're of that mind and structural engineering is great if you enjoy math.

    One last thing, like you I was always afraid of not having enough money, my specific fear was ending up a homeless bag lady. I would suggest reading "Your Money or Your Life" by Joe Dominguez it changed my life and put things into perspective, if I read it at 15 I would have taken a much different path. 

    I'd love to know how your doing on your journey so keep posting.

    0Reply
  • Adrian Grauer
    OP
    Leander, TX · Member since 2016 · 3 posts · 2 votes
    10y

    Wow. So many people have left me so much great advice, and thank you all for that. I am so happy I posted this, because I really was worried, and now I have so much great advice on how to get started. Now the only issue is trying to decide who's advice to follow, haha. Thank you all for posting, and if anyone else has anything to ads, feel free to post it because I read every single reply.

    0Reply
  • Steve Moody
    Portland, OR · Member since 2008 · 123 posts · 73 votes
    10y

    @Adrian Grauer don't follow any ONE person's advice, pick and choose bits of knowledge. The fact that you're even thinking about this at 15 puts you years ahead of most people (and a lifetime ahead of many). As for college vs no college, it's really something that's up to you. If you have a specific goal that includes needing a college degree, then go for it. But as others have stated, don't go to college just to go and expect anything at the end (other than life altering debt). I didn't go to college, and I'm not doing too bad. Every job I've gotten in the last 15 years had a bachelor degree "requirement", funny how that works. That said, I'd probably have had more opportunities and better pay (at least initially) if I had an education, but it's hard to weigh that against losing 4 years of work experience and starting out in debt. If someone else if paying (parents, military, scholarships), then by all means go for it. 

    Some advise that I haven't seen mentioned (I didn't read all comments though), is getting yourself involved with a local REIA. Go to some meetings, talk to some people who are living it. Instead of getting a job flipping burgers for $7/hr maybe try to do some work for local real estate brokers, or other investors. Even if you do it for free, you'll likely earn more in education then some mundane part time job.

    Finally, come up with a big goal, and some small goals that will get you close to the big goal. Then write down a PLAN to get to each small goal. A goal without a plan is just a wish. You have to have a plan. Even if you find out in 5 years that the plan wasn't perfect, and needs to be changed, having no plan will make you spin your wheels. 

    You have time on your side. The older you get the less risk you can take, so be bold (but not stupid!). Take educated risks, if you lose learn from it and go at it again. 

    0Reply
  • Stone Teran
    Investor · Cincinnati, OH · Member since 2015 · 374 posts · 120 votes
    10y

    I disagree with Joel.  Adrian, you should work on your grades, go to college, get a good job in a related field and get into real estate for yourself once you have some money and experience.

    0Reply
  • Michael Hassell
    Investor · Davenport, FL · Member since 2014 · 64 posts · 21 votes
    10y

    Education would be a big priority in my opinion.  That certainly includes traditional school like earning your degree, but it also means just knowing about relevant things.  I think a degree is of great importance and strongly recommend you get one...but I'm even more strongly interested in getting that degree with absolutely no debt!  Do not shackle yourself to a bunch of school money that will have to be repaid.  It's like taking out a mortgage on your future.  School debt will be a factor that you will consider every time you make a move...not having this sort of debt is a huge financial boost.  PM me if you like, I can direct you to some site's that can help you set reasonable goals and teach some methods of keeping higher education costs down....some of those things you can probably start right now.

    College is just one area you need to know about.  Study current events, see how things work and how markets function.  Did you know that every time gun control makes it big in the media that sales of guns and ammunition go through the roof?  No matter the side you take in the debate its interesting and relevant to understand how one thing affects another.

    Read everything you can find on BP.  listen to every podcast.  No mater what vocation you take, real estate can be a foundation upon which to build your real fortune.  Maybe you only learn enough to parlay the homes you buy and live in well, so that it becomes a big nest egg as you age, maybe you learn to go full time and develop whole neighborhoods...point is the info you learn here can have a dramatic affect on the rest of your life.

    I would recommend a few books for you:

    Anything about business by Jefferey J. Fox, but especially "Rain" https://www.amazon.com/Rain-Paperboy-Learned-About... It might seem to be a little beneath your age level (though I was 40 first time I read it)...I assure you there are some profound tidbits in there.

    On real estate, my favorite title is "The Millionaire Real Estate Investor" by Gary Keller, https://www.amazon.com/Millionaire-Real-Estate-Inv...The fundamentals are in this one book, since it touches on so many things I think it's a fantastic starting point for any would be investor.

    "Think and Grow Rich" by Napoleon Hill https://www.amazon.com/Think-Grow-Start-Motivation... and "What Color is Your Parachute" https://www.amazon.com/What-Color-Your-Parachute-2... round out my recommendations for now, TAGR is about mindset, WCIYP will maybe help you focus on something.

    Finally I will say that you have a lot of time and will probably "be" many things in your life.  A wrong decision just means you have a reason to start again...savor the ride as much as you can.

    0Reply
  • Bill Gulley
    Investor, Entrepreneur, Educator · Springfield, MO · Member since 2009 · 21k+ posts · 12k+ votes
    10y
    Originally posted by @Adrian Grauer:

    Hello everyone,

    Today I signed up for BiggerPockets. I am a fifteen year old boy living in Texas, and my name is Adrian. I don't know if I'm posting this in the right thread, so please tell me if I'm not. 

    I have this constant fear of not knowing what to do when I graduate. I have had this issue since (haha) sixth grade, and I am a sophomore this upcoming school year. Architecture and homes in general have always caught my attention, as well as the tiny house movement. 

    Bottom line is, I wanted to know if anyone had ideas of what I could do now to prepare. I've been debating on joining the Air Force when I graduate, but I feel being controlled and moved around a lot with a very small pay wouldn't be a good idea.

    A few questions-

    1. Should I go to college for investing, or any type of finance degree? Would it help me?

    2. Is there anything I can do now, at fifteen, turning sixteen in December? Keep in mind, I only have 900 dollars that I'm saving for a car. I can't get a job until I get a car.

    3. Are there any books or media that I should take a look at?

    Gosh, I'm just really worried. I've always been that way- very organized and always have a plan. My ultimate goal is to be able to live without the fear of finances weighing on my back. I'm going to be reading BiggerPocket's Ultimate Guide to Real Estate Investing, but I would very much appreciate any help anyone could give me on where to start. Thank you.

     Concentrate on being 15, then 16, then 17......

    You have a job, it's going to school, do the very best you can there first.

    Yes, if you're interested in real estate most of the related professions require college, finance is a very good path to take, so is engineering and law.

    Begin by studying real estate, not this investor stuff, this stuff can put you on the wrong track quickly, especially internet folklore from spin masters.

    Stick to text books and specific aspects written by qualified persons, lawyers, engineers, or by professional organizations for appraisers, real estate managers, title companies, ALTA, for an overview. Most of this information is free on line. Make sure you're not getting into any guru site, you can usually tell when they tell you how rich you'll be following them. 

    Also, learn construction aspects. Learn the lingo and each part of a house from the vapor barrier to the roof ridge cap. This way you can converse intelligently with contractors and other professionals.

    Your first duty is to yourself, get a solid education and don't worry about the future as the future has already started. Take you time and test the waters as you go, that will lead you to making your own destiny. 

    As I say, learn real estate before trying to learn how to deal in real estate!  Good luck :)

    1Reply
  • Manuel Gonzalez
    Lake Jackson, TX · Member since 2013 · 119 posts · 34 votes
    10y

    my recommendation  is  start making money cutting yards, painting curbside address, selling homemade beef jerky at school, etc cutting yards is probably  your  most profitable  my 12 year old saved about 400 last summer cutting yards for first time donation after that it's 40 a yard plus  weed eat no edging.Nothing against armforces  but I've worked next to them overseas in Afghanistan  for two years I was a contractor  and I don't recommend  it. What ever you choose to go to collage  for do it for the money even of you  don't like it  that's why we have hobbies  chemical  engineering is not a bad option good money and easy to land a job good luck

    0Reply
  • Eric Calabrese
    Flushing, NY · Member since 2016 · 70 posts · 22 votes
    10y

    i just turned 22, best advice i can give you is save as much as you can and buy a junk car that gets you from point A to point B. I did not go to school which put me into a pretty good saving advantage (school may not be the best road or it might that's for you to decide). stay away from women who try to get you to pay for everything, i can testify that i was able to save way more money single than in a relationship. Moral to the story sacrifice.

    0Reply
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