If you could meet your 18 year old self, what advice would you give them?
Life’s lessons are often learnt the hard way, like taking out a loan to buy a car you struggle to pay off, or maxing out your credit card on frivolous items. As Elson Goh from EG Financials told Mike “the advice we would give our younger selves is often the advice that our parents tried to pass down to us in our youth.” “We have all been given financial advice from our parents. Have we followed their wise counsel? Have we learnt new lessons from our past mistakes?”
“Wealth is not only gained through knowledge, but experience as well. Let us vicariously live through each other’s experiences and learn from our collective wisdom.”
- Save as much as you can
- Avoid the extremes.
- Buy as house as soon as you can
- Avoid the share market
- Some experiences may be unique to individuals and should not be assumed over future circumstances
- Be open to suggestions and seek professional advice
- Make some new year financial resolutions