#FinanceRegrets #MoneyMistakes #FinancialJourney
Hey everyone! 💸 Let’s talk about financial regrets – we’ve all had them, right? So, here’s a look at mine and I’m curious to hear yours.
Here’s the scoop on my financial journey:
– I opened a Roth IRA right out of high school in 2008 📈
– I had every intention to keep contributing, but life happened and my priorities shifted
– Fast forward to a few years ago, I realized I needed to get serious about my finances again
– Looking back, I wish I had found a better balance in my early 20s and kept up with my original plan
But hey, life is all about learning and growing, right? 🌱
Possible solution:
– Seek out financial guidance or resources early on to help create a balanced investment plan
– Consider starting small with investing, even if it’s just $25 a month – every little bit counts! 💰
So, what are your financial regrets? Share your stories and let’s learn from each other! 💡 #FinancialLessons #MoneyManagement
selling my first house (that i bought in 2009 at the bottom of the market) in 2014 to use the equity for a proper down payment on my second home.
granted it would had required getting creative with financing and probably stressed me out, but if i still had it now i’d be clearing $2k/mo renting it
I purchased the today’s equivalent of a $90k truck in my early 20s. Absolutely no need for it, could barely afford it, but I was very material back then.
I started contributing to my 401k at 21 but not a lot. I really didn’t start turning it up until now at about 40 years old. I have about 145k saved now at 40 so I’ll be fine for when I want to retire at 62-65 but who knows what it would have been if I put in more earlier.
My biggest regret is not buying a condo at age 27 when I moved out and renting it out when I moved away. Rental income today would probably be triple my mortgage payment that I would have had 23 years ago. Instead I just rented a condo until I moved in with my bf now husband. I also regret waiting until I was 40 years old to househack.
I’m 38 now. Looking back I wish I started investing sooner. I bought a house at 30 and am in good shape that way, but my retirement savings aren’t where they could’ve been, had I started earlier.
Of course it’s easy to say that now, although back then my savings were spent running around town chasing loose women.
I wish I had saved more when my expenses were less.
Taking a 401k loan. I needed the money and seemed like a good option, but imagining what I would have had in 7 years makes me sad. Also, I waited for my now husband to agree to buy a house, I could have done it on my own but was too scared. We would be sitting on an additional $350k just because of how our neighborhood has exploded in the past three years.
I married a women who was a control freak with money. She would use me at every turn to siphon funds from me and hide them with her father. Being a nice guy cost me and people out there need to have a prenuptial agreement and to keep funds separate. Also, when I was younger, I spent money on cars and silly stuff. I wish I could go back and just invest some of the money. But life is a journey and the internet was only around for few people.
Going to college not being 100% on that decision. I went because I thought that’s what your suppose to do. I have no degree and all the debt.
I should of gone into a trade which is more up my alley
Buying a house in VHCOL area that has not appreciated in value in since 2018
And so locking up 1.1m downpayment that could have doubled in an index fund
Wish i’d rented
Spending 90% of my money on crap I didn’t need in my 20s to impress people. I saved and bought a house, but I could’ve done so, so much more.
Not sellonf my nfts when they were worth 70k
Spent $400 on a drop shipping course.
Buying a new car in college and trading it in every two years for the next 6. I graduated debt free and funded my car with a decent college job but I wish I could have just kept the first car I had and not continued to have a car payment from about 2007 until about 2018.
Used credit cards through college. It was all I knew and it instilled a lot of bad habits. I’ve finally broken the cycle but I know I could have been much further ahead if I hadn’t had that detour.
Definitely buying a car I couldn’t really afford when I had a perfectly fine paid off car already. Lesson learned. Now I actually have the money for a nice car but will drive my Toyota Rav 4 into the ground.
Worst decision I made not not spending 5-10 hours of my time to learn basic investing principles and letting a ‘financial advisor’ (aka salesman) handle everything for me for 15 years before realizing the fees he was charging to do basically nothing
Parent never teach me, so I never invest money, and did not have emergency fund until I’m 25ish.