What are some good financial advice you can give?

[Anonymous]

What’s the best way to say?

Best way to learn passive income?

people talk a lot about investing but how do you get into that? How to know what’s the best fit for you?

How to be stable coming out of college?
How to make the best out of of working 9 to 5?

[Middleman]

It varies between people to people. But if you want the best savings advice, I'd advise you to look at the 7 Baby Steps method by Dave Ramsey.

The best way to start is by try starting to save your first $1,000 for small emergencies (Baby Step 1) and learn the art of budgeting on a weekly or monthly basis. Once that is done, you start to try and cover your debt payments by saving and spending less (Baby Step 2). Once that is out of way you save 3-6 months of salary pay (also called Emergency Fund or Baby Step 3) and from there work to save for a house (Baby Step 4 - pay it off fully before 65) and retirement funds like a Roth IRA and other savings. You ideally need to put about 15% of your annual savings into a fund for retirement.

For a stable career out of college, it really depends upon your skillset and interests. And higher paying jobs will often require extra degrees these days.

I personally prefer self-employment. I have been largely self-employed for most of my life (I work in the arts industry). I chose it because I love art and I didn't want to work for anyone else other than myself. It has worked out okay for me so far.

[BarryLiverstone]

Be sure to take advantage of opportunities like an IRA and 401K. A monthly 401K matched by your company becomes forgotten but adds up passively over time.

[Asker]

Currently I possess a 401(k), life chance, and a pension plan

[BarryLiverstone]

If you are in a stable career then find an investment firm. It’s worth it in the long run to pay a team to manage your investments.

[Asker]

What about working off dead such as student loan car and a personal loan that I try to fix the house with they still need more help on that and I just paid off my credit card

[BarryLiverstone]

Debt should be a focus in addition to the financial relief it’s a mental stress break in life. Reduce stress as much as you can and you add years to your life

[Asker]

Yes but where do you start where do I try to put funds towards first

[BarryLiverstone]

Start by asking your fam and friends for a referral to an investment firm. Don’t start to invest yourself. Have a meeting with professionals and tell them your longterm goals: they will guide you into where to start investing

[BarryLiverstone]

Ty for MHO

[Ruenella_]

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