What's the best piece of advice you were ever given?

[Darth_Uno]

When finished college my first job was at a coal mine in East Texas. The first day of work I was in the main office waiting to sign all my paperwork which included signing up for benefits. I had no idea what any of it meant and HR wasn't about to help me understand it. One of the company accountants was an old-timer, yellow-dog Democrat local that talked with an accent like James Carvel. He pulled me aside and said, "Young man you are about to sign up for benefits. Most of them don't mater, you're young so pick the best of everything because it is cheap. However, the one that maters is the 401k. Sign up for the maximum amount the IRS allows right now. Not only does the company match the first 10%, you are used to being poor so you'll never miss the money coming out of your paycheck."

This advice has served me well and I try to beat it into the heads of my students. Including having them work different retirement savings problems.

My investing journey has been pretty much self-taught and self-funded. Unfortunately my parents never told me anything about it, because they didn't do it. Which leads me to a quote I don't know the author of: "There's two kinds of people; those who understand compound interest, and those who pay it."

I do have to say that my parents were frugal (by necessity), so the other thing that was drilled into me was, "Don't spend the money if you ain't got the money." That's served me incredibly well.

[CDH]

The people I learned that from used the rated R version of that saying!

YEP. That was rule #2.

[Borderland]

When my mom disagreed about what someone else was doing in the neighborhood my dad would always stop her and ask the question. Is that really any of your business?

He was a yuge believer in live and let live. If it didn't affect him he just didn't express an opinion about it. That was truly evident as he used to say that's no skin off of my ass.

He was born in 1919 and was a WW2 combat vet (1st Infantry Div.) and survived the war.

I always ask myself that question when dealing with situations I disagree with. "Is that really any of your business".

[37th Mass]

Early in my professional career, I read some financial advice: It's OK to buy a nice house if you can afford it, but even if you can afford it, just buy an adequate car.

My dad says a variation on this: "Buy the nicest house you can afford and the cheapest car you can stand."

[UNK]

I was hanging out with a bud who ran security at a strip club. This hard bodied good looking stripper was hitting on me hard. He warned me stay away from her. She’ll give you diseases, handcuff you to the bed and then her boyfriend is gonna jump out of the closet. Maybe not the best advice I ever got but I was really glad I got it.

[okie john]

I was hanging out with a bud who ran security at a strip club. This hard bodied good looking stripper was hitting on me hard. He warned me stay away from her. She’ll give you diseases, handcuff you to the bed and then her boyfriend is gonna jump out of the closet. Maybe not the best advice I ever got but I was really glad I got it.

Advice regarding strippers could be boiled down into two words: avoid them.

Those who choose to ignore that advice will need their own thread.


Okie John

[AzShooter]

Best advice was to not let anyone else talk me out of my dreams. When I was younger I shot archery. My parents thought it was a waste of time and money since I went for lessons every week. I found it to be a great stress relief and even won a National title when I was 17. I stayed with the hobby and even coached 5 young kids to win their divisions at the Nationals.

If I'd had listened to my parents who know what I'd be doing now.

If you have a desire, follow it and don't let someone else tell you it's impossible.

Best advice I was ever given.

[MichaelOrick]

Remember what the Dormouse said. Feed your head.

[Glenn E. Meyer]

My father was an athlete. He said that he wasted his time and could have done better if he went to night school. You will study, he said. Also said: Never trust a coach!

YMMV - but I saw quite a few students screw up because of a focus on some 'team'. Not that others didn't screw up for other reasons.

Example - comes to college to play soccer. Bait and switch - told he will play soccer. First week, doesn't make the team. Gets wildly drunk and expelled for various foolish behavior.

The great student, great athlete was a rarity. Most were minorities who were exploited by the school for PR purposes.

[JAD]

Sirach 11:30 Praise not any man before death, for a man is known by his children.