Things I Wish I'd Known At 20 | Hacker News Reader

Things I Wish I'd Known At 20

teejayvanslyke.com

Great list. I'm 37 and I still haven't mastered many of those things.

The only one I would really take issue with is "Don't Buy a House". If you get a good deal on a property that is good for you and your family, buying always makes more sense, especially at current interest rates. You can fix your monthly cost for year after year instead of paying ever increasing amounts of rent.

Buying also brings some people happiness. I enjoy making improvements to my home, landscaping, etc.

I would not make these investments in somebody else's home if I rented.

Thanks for the comment! I think my main point here was that buying a house isn't necessarily a good investment, depending on your goals and the price of the house relative to its value.

I will say though, that it makes sense for owners to defend their position, since they're already owners. And, as a renter, I'm likely to do the same.

Regardless, I appreciate both perspectives!

It's really strange that, ever since the financial crisis, 20-30 somethings are starting to rationalize rent over ownership. It's a counterproductive argument that hinges on interest rates quickly shooting back up to 7-8% so housing prices go back down. There are a lot of forces moving against that though. Asset holders (homes and stock) aren't so keen on giving up the new values they've become accustom to, and Europe has negative rates. When Ben Bernake left the Fed, he started giving these 250K dinners to Wall Street. The crux of his message was low interest rates are here to stay.

http://www.businessinsider.com/r-at-big-ticket-dinners-a-blu...

And, even if interest rates do rise dramatically over the next 10-20 years, inflation will act as a counterweight against the argument of buying now.

Instead of rationalizing rent, I think you'd do better to downsize and try to get a house you can afford. That way you have a strong asset you can work with if your $150,000 in 401K money doesn't amount to squat in your 70s.

Not trying to be a jerk, but America has been sold a lie with the 401K (watch "The Retirement Gamble" on PBS), There's going to be a major crisis in 30 years. In my view, there's no real answer other than trying to amass a shit ton of assets and hoping technology relieves some of the burden rather than compounding it. Ok, now I'm getting off topic... :-)

Anyway, yours is a smart piece, and I'm sure you'll do fine.

Just think of buying as renting from yourself and cutting out the middle man.

While I agree with most of this I think it's somewhat too strict. For many people their twenties is the only time they will have time, money and vigour. If you get the chance you should take advantage of that.

>Invest in ergonomics. Stand at work.

I invested in a Mirra chair in 2006, transitioned to a stand up desk in 2014 and I wholeheartedly recommend doing either or both if your finances and ability permit.

Lots of these are mutually exclusive. Don't sweat work and work 8 hours a day, but if you're in debt, work hard. Don't spend any money and live like the average person and don't drink but fall in love. Where will you meet this person who loves your boring frugal 20 year old self? Don't go out, but enjoy sex now. Don't be in debt but follow your dreams.

"Symbols of status matter, but the symbols aren’t your car, house, or clothes." What are the symbols that matter?

Hm. I'd say happiness, influence, and respect. Maybe those aren't symbols. Maybe I just liked the way that line sounded as I typed it.

I'd correct one thing. Instead of "If you’re a man: Respect women." to "Respect people."

This is a great list. The only thing I would add:

35.1 Gratitude is not a feeling but an action.

Can I go back in time 30 years now?

Great list though 13 and 24 seem almost contradictory, can you expand on 24?

Reply on news.ycombinator.com