Get out of the U.S.

... You know, this is kinda true. I can't think of a single young person who looks at the future (writ large) with hope rather than dread, or at least YOLO-ish apathy. The difference between people is in degree, and if they think it will eventually get better again.

Even most old people know the outlook is kinda fucked.

Yeah, but timing the market is always iffy. For all you know the bubble will burst so far out that it's still better to buy today.

Plus, you can invest in other countries. I myself hold some of an everything-except-the-US ETF.

Diversified stock without AI exposure is an option. Bonds give less return and also are looking a bit funny these days, while metals give literally zero.

After you turn 65 there is no penalty for using your HSA for non-medical purchases, you just have to pay income tax on withdrawls. This effectively turns an HSA into an IRA after you turn 65. So you can contribute pre-tax, it grows tax-free, then you can withdraw without any penalty - making it effectively just another retirement account.

https://ourtaxpartner.com/hsa-distribution-rules-after-age-65-medicare-premiums/

Don't. Just don't. Ever.

lol don't ask us. we're just as fucked as you. :\

"Don't believe sermons, fairy tales, or stories about money."

I’m over 50 so apparently I don’t count. But if I did I would say maximize salary. Live below your means. Invest because compound interest is your biggest ally.

Lose fat and build muscle. You will be more financially stable when you’re healthy.

Hi, I'm OP, stop getting into arguments in my thread, thanks.

Lots of good tips in here already.

I would recommend checking out The Money Guys or Caleb Hammer on YouTube for some great tips with actionable goals.

money (you need enough) so keep dollar cost averaging into ETF, don't forget the world is a big place, so international as well and consider the debasement trade.

Switch to income investing when you "retire", don't try and time markets.

https://www.youtube.com/channel/UCuNKV0CMgcVUiJNdA-JNlJA

https://www.youtube.com/channel/UCxU4PhPfJEBgaeYT1rMhvCg

and physical health ; no smoking, no drinking, moderate cardio (running cycling etc) and lift weights to help prevent muscle loss and osteo.

and mental health: hike, enjoy the woods, spend time with friends and family you care for

Am 61, retired at 40 , gf is 57.

Cheap used EVs are great, but if you are still in college, you don’t need that much range, so a beater leaf is even cheaper.

Your refusal to go into credit card debt in your 20s was great. Continue not fucking doing that.

Denying every indulgence makes you explode in spending desperation once you eventually get a windfall. Instead, ration indulgences, don’t forbid them. Get familiar with “this was expensive. I shouldn’t do that often.” It will make resisting temptation much easier with the new shiney XL+909T comes out when you’re older.

RRSP contributions are income tax deductible, and up to $60k from the account can be used toward a down payment for a home. For someone trying to buy, its a good idea to focus on that RRSP first.

money (you need enough)

sounds like legitimate financial advice

Save your back. Don’t bend over to pick stuff up off the floor unless there are at least 2-3 things down there to get.

True, maybe a mix of both. I heard 401k in some TV show and knew it was an American thing but if someone said TFSA or RRSP without mentioning it was Canadian I'd have said the same thing. Canadians know there's a world outside Canada though and would've specified so in the opening post.

• Marry someone rich.

• Get lucky

• Don't have health problems

• Don't have children (even if you find someone rich)

• Win the lottery (backup for if you can't marry someone rich)

• Get out of the usa

• Don't eat anything approved for eating in the usa

• Exercise

Drinking water and mountain home meals. I'm afraid their value will skyrocket sooner than later.

Don't listen to anyone born before 1980. They don't live in the same world as you.

There is no hope without a revolution.

But also whenever you get a raise or pay off a loan take the majority of that money you would have added to your regular paycheck and put it in your superannuation (or your country's equivalent retirement fund) as an automatic deduction. That way you're saving without feeling the pinch of giving something up.

Also once you reach an age you start dealing with funerals you'll realise how nightmarish and expensive that whole process is, so get a proper legal will made up.

Everything in the market is exposed to varying degrees, unless you have something particular in mind? If you can think of a stock that will go up when AI goes into freefall, name it, please.

Learn to cook & meal-prep. Invest time into your health and fitness. Self-host as many techy services as you can (bonus points for Arr stack - streaming services are expensive). Try to "BIFL" where possible - Terry Pratchett said it best:

The reason that the rich were so rich, Vimes reasoned, was because they managed to spend less money. Take boots, for example. ... A really good pair of leather boots cost fifty dollars. But an affordable pair of boots, which were sort of OK for a season or two and then leaked like hell when the cardboard gave out, cost about ten dollars. ... But the thing was that good boots lasted for years and years. A man who could afford fifty dollars had a pair of boots that'd still be keeping his feet dry in ten years' time, while a poor man who could only afford cheap boots would have spent a hundred dollars on boots in the same time and would still have wet feet.

And go where? Do you realize how hard it is to immigrate? Even if you're successful, find a cowpany who will sponsor a visa, everywhere I look seems to be taking sharp right turns. AfD in Germany, crazy grandchildren of literal Nazi collaborators in France, the grand daughter of Mussolini is prime minister of Italy. UK is doing whatever the hell it is that they do.

https://www.moneycontrol.com/news/trends/old-fidelity-study-goes-viral-reveals-why-dead-investors-perform-best-13631692.html

G4S, Dollar Tree or a payday lender like Curo Holdings should go up in any major downturn. Specifically if/when AI craps out, some of the big losers in white-collar services would rebound, although I don't know enough to really give details on that. Lots, like Nestle or Goodyear, aren't countercyclical but will be fairly unaffected, because they aren't in tech and sell something people can't really do without.

Yes, everything in the market is exposed to volatility. In which direction can vary, though. If you have a crystal ball and know the bubble is imploding this quarter, you could also buy bearish options on things like Nvidia. (There's no off-the-shelf options that go out many years, I checked)

I’d still rather be in Canada or the EU.

And I totally realize how hard it is. I’m fucking stuck here. The U.S. has turned into a gigantic prison. It’s just my advice m. If I could expatriate I would. But realistically I’m just going to stay here and vote and then the maga Nazis will probably kill me at some point when they start their own final solution. I’m just sayin’.

Just save your money as much as you can, dont suffer but live in the studio until you're ready to buy a house. The car and the two bedroom and all that shit just keeps you perpetually a decade away from buying a home.

Oh, and there's also the FHSA, on that note.

Damn gonna have to give up Bananas

That's funny because I live in a shared house which has 8 bedrooms but only 1 kitchen. Even if I worked 40 hours a week I couldn't afford a studio in my city. New Zealand rentals are unaffordable, here I'd need to have a professional job and be married just to rent a 1 bedroom apartment with almost no space.

I'm not really up to date on Canadian affairs, but I would absolutely not be surprised if they have anti-american sentiment and actively try to discourage or prevent people from immigrating to canada, specifically US citizens.

Yup, and it's good if you start using it early. I'm not a fan of the restrictions on it though, compared to the RRSP. But they are strong when used together.

I’m pretty sure they are and from what I’ve seen the polls say they are not happy with us. Go figure.

You don't have to invest in the stock market to invest in a 401k. There are funds dedicated to bonds and you can pick the funds with low overhead ratios. You can even pick treasuries if you really want to.

It is better than shoving it under the mattress.

If you ever come into some money, whether it be a raise, bonus, or gift, don't let it sit in your checking account. Move it to somewhere that is able to earn money.

im in the US but yeah i moved halfway across the country to go to a lower cost of living because I just couldn't make it work in a HCOL area like you're describing. I mean, im just way happier now but i understand that NZ is a smallish country where you can't just find a lower cost of living area further away.

True. I've looked for rentals further south of me but it's the end of the world at the bottom of New Zealand. Every time a "cheaper area" pops up in the news, everybody from Auckland floods the new "cheaper area" and it ends up like everywhere else after 1-2 years (more pressure on house prices).