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Personal Finance Lessons for Technology Professionals

173 点作者 piecu超过 6 年前

19 条评论

hoaw超过 6 年前
I expected a better article to be honest. Some of the ideas are correct, but I think the perspective is overall wrong. For one he is probably ten times richer than the average tech worker.<p>But you don&#x27;t want to be rich as much as you want to be wealthy. And that isn&#x27;t just about money. My friends in other industries didn&#x27;t make as much in their twenties, but the are relatively wealthy in their thirties. Their career, prospects and family life is generally better than my friends in the tech industry.<p>The whole article is basically all the other things you should do and manage to try to become successful. Most of it unrelated to technology. That isn&#x27;t wealth in my book, nor is it happiness.
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aedron超过 6 年前
Quite a disagreeable post, in my opinion.<p>&gt; Which leads me to the &quot;but money can&#x27;t buy happiness&quot; position so many people have repeated over the years. Bull. Shit. Anyone who has ever said that simply doesn&#x27;t know where to shop.<p>If happiness for you is about things you buy in shops, then you are a shallow person, and you are missing out. A lot. In fact you are poor, but in a spiritual sense. The next statement: &quot;money spent on physical items can bring people a huge amount of pleasure&quot; reinforces the impression that you have some concepts confused.<p>It&#x27;s great to have cool stuff, and thanks for the probably sound advice on how to achieve that. You don&#x27;t have to try to convince (yourself?) that this equates happiness.
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loeg超过 6 年前
I strongly encourage Technology professionals (and everyone else) to learn some basic personal finance and how to effectively (1) set aside some cash for emergencies, (2) pay off and keep off high interest debt, and (3) invest for the long term, i.e., retirement. But this rambling post which is heavily focused on Troy&#x27;s personal experiences and anecdotes isn&#x27;t a particularly great resource for teaching anyone personal finance; nor is it especially interesting.
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robjan超过 6 年前
I respect his work and contributions to the field but the message of this post has kind of been lost in the Tony Robbins style motivation fluff. Most of us, for example, didn&#x27;t&#x2F;wont have the capital to buy multiple investment properties at the age of 25.<p>The real takeaway: don&#x27;t waste your money, don&#x27;t get into too much debt, invest your money and invest in yourself. Every motivational speaker&#x2F;guru&#x2F;life coach will say the same thing.
ganonm超过 6 年前
The best piece of financial advice I can give people just starting out (e.g. early 20s), especially if they are working in startups, is this: make sure you have enough cash savings so that you can afford to be unemployed for at least 2-3 months. Besides the obvious safety net to ensure you aren&#x27;t out on the streets in the event you leave&#x2F;lose your job, the more important reason for this is so that you can afford to be picky about where you work next.<p>The opportunity cost of making a sub-optimal choice when it comes to employment is huge, both financially and in terms of your career. Taking a hit on a few months pay is a complete no-brainer if it means you can take a job that you find intellectually stimulating, gets you out of bed in the morning, and offers better long term compensation.
jb827超过 6 年前
Seems he would have done very well out of property as Australia hasn&#x27;t been affected by 2008 GFC. There are young people that would have invested in property in Ireland before GFC and would have dug themselves a financial hole. This guy doesn&#x27;t like calling it luck but I don&#x27;t know what you call different outcomes for investors between the two countries. We are living in the time of quantitative easing, cheap credit and this seems to result in speculative asset bubbles and busts. Dow Jones is over 200% up in last 10 years. I think outcome of central banks printing money at this scale is unknown and puts a big question mark on long term investing and the &#x27;time in the market&#x27; advice.
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humanbeinc超过 6 年前
It&#x27;s at best just another &quot;solid&quot; save and invest advice, buried under bragging, overused motivational quotes and videos and a huge underestimation of personal luck and purely being a straight white smart male in a market that us is booming for decades...<p>No other takeaways for the general public here.
jondubois超过 6 年前
&gt;&gt; just take one simple truth away from a glance at it: investments grow over time<p>This statement is false. The truth is that &quot;investments have grown over time&quot;. It&#x27;s not necessarily true that they will continue to grow over time. The efficiency benefits of corporate growth have been reached long ago and are on the decline. Corporate growth today relies on crooked government policies, stock buybacks and other methods of wealth concentration without value creation - There is no guarantee that it will stay like this; people are already wising up to this.
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jstewartmobile超过 6 年前
Those tweets seem more like something a rapper would do than a security guy.<p><i>What have we become?</i>
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ck425超过 6 年前
Not the best article I&#x27;ve read on finance, and far too consumerist for my liking but the basics are correct. If you are in your 20s in tech then the advice to get a retirement plan and to aggressively save and invest now (in said plan or not) is solid.
sbmthakur超过 6 年前
Lessons Troy talks about:<p>1: Money Buys Choices<p>2: The Money You Earn Young is the Most Valuable Money You&#x27;ll Ever Earn<p>3: Invest in Financial Literacy<p>4: Learn the Tax System<p>5: Know Good Debt from Bad Debt<p>6: Diversify Earning Potential and Risk<p>7: Prepare for Luck<p>8: Put a Price on Your Time - and Your Family<p>9: Have a Goal<p>10: Financial Prosperity is a Partnership
benj111超过 6 年前
Not really for tech professionals exclusively. His reasoning should really be replaced by: 0. Get a well paid job.<p>Theres also this &quot;Bad debt is the likes you have on a credit card. It&#x27;s almost always accrued on a depreciating asset (for example, a new TV) and it&#x27;s very often at a high interest rate&quot;<p>Why is depreciation always mentioned as a problem of bad debt? My house will depreciate if I don&#x27;t maintain it.<p>Surely bad debt is a combination of interest rate, and whether you actually need, and can afford the thing you&#x27;re buying on credit.
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ikeboy超过 6 年前
The problem with the distinction between good and bad debt is that money is fungible. If you have some amount of &quot;good&quot; debt, then every penny you spend on &quot;bad&quot; depreciating assets is money that could have gone to pay down the good debt.<p>Conversely, if you have bad debt, every penny that goes towards paying it back could instead go towards the kinds of purchases he endorses using &quot;good&quot; debt for.<p>There&#x27;s no principled distinction between the two.
xupybd超过 6 年前
While I’m sure this has worked for Troy his approach is way to high risk for my comfort zone. Dave Ramsey has a great approach that is no doubt slower but more suited to people like me that want a bit more security. Get debt free as fast as you can, get a good emergency fund. Then start saving &#x2F; investing in low risk funds.
sakisv超过 6 年前
I&#x27;m in my (very) early 30s and I found it very interesting. I don&#x27;t necessarily agree with the entire mindset, but overall is one of the &quot;I should have read it 7 years ago&quot; articles.<p>Most of the &quot;lessons&quot; are not groundbreaking, they are rather things that are obvious and most of us know about. The value for me came from having them all written down in an organized way. It&#x27;s much easier to refer to something more tangible than your memory.<p>One thing that bugs me and puts me off is the financial literacy that Troy mentions. I try to translate some terms to my mother tongue only to find that, even then, I still don&#x27;t really understand them.<p>Does anyone has any pointers on how you can start improving on this like finances 101 or something?
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RickJWagner超过 6 年前
There is some great advice here, and it simply echoes what is available elsewhere. Saving and investing a small portion of your income will make you rich over time.<p>Especially for those working in tech, there are ways to put the odds of becoming wealthy greatly in your favor. It&#x27;s our choice to act on it or ignore it.
andydavieswork超过 6 年前
&gt; &quot;As we began planning [a child], we literally went to a quiet spot in a local restaurant with a laptop and drew up a spreadsheet of what having a baby would mean. We did this together and planned everything from loss of income due to maternity leave, government parental benefits, the taxation implications of both and even medical expenses and the maintenance cost of a child.&quot;<p>Money is important. But I hope I never get to the point where my mind is as anxious and clinical as this.
peteretep超过 6 年前
That Kerry Packer clip is terrible. In summary he says (and I&#x27;m trying to neutrally paraphrase his words):<p>&quot;Since I was a boy, 10,000 new laws have been passed, and the country isn&#x27;t any better. The new laws that have been passed are just for the sake of it, and you take away someone&#x27;s freedom every time you pass a new law&quot;<p>This sounds a lot like the Trumpian:<p>&quot;If there’s a new regulation, they have to knock out two. But it goes far beyond that, we’re cutting regulations massively for small business and for large business&quot;<p>Yes, there exists duplicitous and over-zealous legislation, but most of it is written to protect the rights of people. Since Mr Packer was a boy, Australia has new rights for gay people, aboriginal people, a great deal more environmental protection, and so on and so on.<p>The &quot;rich person appeals to common sense by saying they shouldn&#x27;t be regulated&quot; meme needs to die a death.
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jstanley超过 6 年前
I enjoyed the clip on taxes: <a href="https:&#x2F;&#x2F;www.youtube.com&#x2F;watch?v=DBg7DnQjjcY" rel="nofollow">https:&#x2F;&#x2F;www.youtube.com&#x2F;watch?v=DBg7DnQjjcY</a>
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