Financial planning for single men.
You need to realize that you are much better off financially than your married and divorced co-workers.
Most of your married co-workers spend 75%-95% of their income on their spoiled wives and kids.
Your divorced co-workers with child support spend about 25%-30% of their pre-tax pay (often well over 50% of after-tax pay) on child support. They probably also got completely wiped out financially
during their divorce, effectively losing 5-15 years worth of everything they earned.
That means that majority of your male co-workers survive on a fraction of their income. As a single childless person you have very little excuse for not saving and investing a large percentage of your income. You should save and invest at least half of your income if you make really good money. You need to seriously re-evaluate your lifestyle if you live paycheck to paycheck. You probably either have some costly addictions you need to overcome or you spend way too much money on
dating women. Chapter 7 has some good suggestions on how you can save money while dating American women.
If you make pretty good money and don’t have to pay for children and a house in a good school district, then you may be able retire within 15 years or semi-retire (where you work around 20 hours a week and take a few months off a year) within 10 years.
A very smart thing to do is to buy a house or an apartment and get one or several roommates to pay most of the mortgage. That way your monthly payment can actually be less than what you are currently
paying to rent. (That is currently hard to do in areas like Boston, NYC, DC, LA, SF, etc. Housing prices there are a little out of control and renting there is currently cheaper than buying. But this situation
will likely soon correct itself with housing prices in these areas declining to align with rents). Get a good price on a house near college campus that needs a few hundred hours of work and fix it up
yourself. You can also convert the basement into a stand-along apartment for rent. You should be able to pay the house off within 1015 years and then you will no longer have house payments or rent to
You should also consider starting your own business, particularly if you are working at a dead-end office job. There are many businesses you can start with mostly your spare time and very little money while you are still employed. Go to a bookstore and start reading books that describe different business you can start.
Your own business will eventually give you flexibility to work your own hours and take a lot of time off to travel. Most people who have done very well financially own their own businesses.
If you are having problems saving money, then you may want to try my recent invention – “marriage role-play shock therapy” ™. It is very simple, it will help you save money, and it will prepare you for the future marriage. It works like that -you take every paycheck from now on, you put half of it in a jar, and you forget about it. Every time you think you are short on money, you take an additional $100 and put it in a jar as a penalty for complaining. Pretty soon you will have plenty of money saved up and you will be ready for marriage.