Slashdot Mirror
What You'll Wish You'd Known
sheck writes "Eminent computer scientist, author, painter, and dot-com millionaire, Paul Graham has written down the things he wishes somebody had told him when he was in high school in What You'll Wish You'd Known, suggesting, among other things, that students treat school like a day job, working on interesting projects to avoid what he has found to be the most common regret among adults of their high school days: wasting time."
The author writes:
What you need to do is discover what you like. You have to work on stuff you like if you want to be good at what you do.
Why do our lives have to center around friggin' work? I would rather not work at all. And most people feel the same way, if they would just admit it. If we had the adequate resources, wouldn't we choose NOT to work at all, or just work a little bit?
So what is wrong with just admitting the truth?
eat shiat and bark at the moon
It's only those obsessed with status & material wealth who get wrapped up in the notion that every worthwhile waking hour should be spent working on advancing careers and whatnot.
Power to the Peaceful
By the time you are old enough to want to make a list of things to tell young people they need to do to be happy, you are too old to relate to any young person in a meaningful or influential way. But inevitably, generation after generation, the old people are compelled to spew advice which the young will absorb, but ignore, until they themselves are old and ready to acknowledge its correctness (and then to futilely victimize that generation with advice).
I think the biggest cause of regret in young people is mixed messages being sent from all directions from know-it-all nannys who all regret their own youth and so want to live vicariously through others still in possession of it. Laissez faire.
I assumed 10% return under two scenarios:
In the first $3000 is invested each year as a 15, 16, and 17 year-old, for a total of $9k put in. Then no more investing is done. At 65 you have $963,381.
Second scenario is starting to invest at 30 and putting in $3k per year until 65. A total of $108,000 is invested. At 65 you have $897,380.
The moral of the story? You can't afford not to put money away when you are young. Sacrifice early for long term gains.
Note that I am not suggesting that you stop after high school. I am suggesting that you start right now and not stop.
Lasers Controlled Games!
Yes, except...
how the fuck does a 15 year old acquire $3,000?
And how the fuck does he acquire another $3,000 the next year, and the next?
If you're in debt because of college, it's a fool's errand to invest unless you can get a much better interest rate than the one you're paying on your loans. Otherwise you'd be better off paying off the loans.
Oh -- and how the hell do you find a consistent 10% return on investment? The stock market historically returns 7%, and that's about as risky as anyone should get for the long-term.
Yes, compounding interest can be very impressive, and your numbers are very pretty. But they're also very unrealistic.