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Sam Dickson's avatar

All good pieces of advice.

My 2 cents on #7 and #16:

1. #7. The prenup. Yes. Definitely.

But: it's hard to get the prenup when you and your fiancee are all love and roses. It's hard to conceive that your future marriage may break up even though half of marriages do. Snap out of it, fellows. Be prudent. Get the prenup.

Here is a practical way to try to sugarcoat the difficult process of asking her to sign off on the prenup. SAY, "THE COMPANY REQUIRES THIS." That way, someone else is to blame, and you don't come across as an unromantic heavy.

And, a word to the wise, courts will not enforce a prenup that is unfair. So make sure that she is treated fairly. Fair provision for kids. Fair provision for her share of property acquired during the marriage. Don't try to set it up so that if the marriage breaks up after 30 years, she's supposed to walk out the door with a single suitcase.

2. #16. Pay yourself first. SAVE MONEY. Yes. Right on point.

Here are several practical suggestions in this regard.

a. Pay yourself first. Put 10% of your paycheck into investments. Write the check for 10% of your take home pay the first thing, before you pay the bills.

Stocks, money market fund, etc. to start out with because the amount of money will be small. As the amount grows you can branch out into things like real estate. And, yes, contrary to what a lot of advisers are saying nowadays, buying a house counts as an investment so you can use the money you saved for the down payment. Do NOT touch any of the return on the savings. Set it up so that all income (dividends, etc.) are added to the account.

If you do this consistently, in 20 years the income from your investments will equal your salary.

b. Don't tell me that you can't live off 90% of your salary. The fact is that tens of millions of people DO live off 90% of your salary. You can too. By immediately writing the check for 10% of your salary and putting the money into your investments, you will FORCE YOURSELF to learn to live off of 90% of your salary.

c. Youngsters, 20 years may seem as far off as when the Sun runs out of helium. No. 20 years will go by in a flash. Life is a fast trip. And see "d", below.

d. The most important thing in determining ultimate success?

Long term planning!

It's more important than brains and hard work.

Hawkins inspires me.

I have long intended to write an advice book for White males.

This must be done.

Jay's avatar

#20 ("future you") is a lot like what Jordan Peterson says: "Treat yourself like someone you are responsible for".

It really does help.

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