Hey guys I'm 19, started investing this year I have 8k invested. I did my first year of university but I want to switch my major and drop out of my current university. If I drop out right now I'd only get a 50% refund from my school meaning I need to pay around 1.7k And Id need to pay my 5k loan back on top of that (if I don't drop out I don't need to pay that loan back for another 2 years)
I have no idea what major id switch to but I didn't do grade 12 math cause I didn't need it for the major I'm currently in. This worries me because idk if I'll be able to get into another program and I might need to go to college instead or redo whatever Highschool courses I need to do.
I was thinking that if I can just find a part time job and drop out of school I'll be able to afford to lose that 6.7k. But I feel like finding a part time job will be insanely hard and probably unlikely due to job shortage.
The thought I have in my head is to just work as much as I can, pay for school after the gap year and invest the rest of the money. I have no expenses since I am lucky enough to live with my parents.
I have the idea in my head that you can become financially free by just working maybe even average paying job and putting 90% of the salary into investing until my compounding interest is more than my yearly contributions, then buy a small affordable apartment and eventually upgrade to something else and perhaps rent it out for extra income.
Any tips? Is it unrealistic? Can you get financially free with any job?
For some reason I'm really worried about my future and confused on what I want to do, but I do know that I want to invest as much money as I can.
Anyone who tells me to just enjoy my life while I'm young, Its possible to do both isn't it?
19m need some advice on my future.
byu/PresidentBusin3ss ininvesting
Posted by PresidentBusin3ss
3 Comments
What program are you dropping out of and what area do you live in? Putting 90% away on a low or average paying job is ridiculously hard if not impossible
Investing and getting meaningful results is near impossible without a high income. Unless you want to be living with your parents and driving uber until your super old you need to figure out your life quick. By the time most people are about 30 they are usually stuck in the direction they are going in life. Without a college degree or any skills you will almost certainly be making below median wage aka broke as shit and no you can’t be financially free with any job. Most people are up to their eye balls in debt.
Sure, it’s possible to reach financially independence with an average job if your parents took care of all your expenses for like 20 years while you save everything.