Okay. Time for the last question. This one came in from Bubba:

What system do you use for getting things done your life? To-do lists? How do you prioritize? Things of that nature…

Also, if you had to give financial advice to twenty-somethings…how to save money, invest, etc… what would it be? (Because clearly… we’d all like to be in your position!! hahaha)

The first part of your question will be easy to keep short. I use a very high-tech organizational method. It’s very complicated. In fact, I hesitate to even mention it for fear that it might overwhelm you. In order to keep track of my daily tasks (not appointments – for those I use iCal or Outlook), I use a notepad with a checklist. At the end of each day, I move all tasks over that I didn’t get completed and I add new tasks for the following day. I rank them in priority, then voila! Then I keep my checklist in front of me all day (by my keyboard). The only other thing I do try to do is block time on my calendar to do my task list items. I know that’s not very exciting, but it works.

Ok financial advice. I’m not sure what “position” you’re referring to in your question, but here’s what I’ve learned. And trust me, I haven’t done this perfectly. Here we go (in no particular order):

- I like that you said “how to save” and not “should I save?”.
- Diversify. Keep some cash in a money market account that earns more interest than a savings account. You need to have cash available to buy things and for emergency purposes.
- Think long-term. You’re young. You shouldn’t need most of your savings for quite some time. If you have access to a 401k contribute. In fact max out your yearly contribution. Most employers match your contributions so it’s free money. The catch is, you can’t have this money until it’s time to retire. Unless it’s a matter of life or death, don’t touch this money. If you don’t have access to a 401k, get an IRA. Either traditional or Roth. Both your 401k and Roth are tax deferred.
- Risk. Accept some risk with your money. Again, you’re young so you have time to ride this market crisis out. There’s a lot of stocks and funds that are taking a beating for no good reason other than the widespread market panic. If you have any cash, now is a great time to open a brokerage account and put some money into some good solid companies or funds that are undervalued right now. Warren Buffet gave this quote last week: “A simple rule dictates my buying: Be fearful when others are greedy, and be greedy when others are fearful. And most certainly, fear is now widespread, gripping even seasoned investors. ” Warren knows a little something about wealth. I’m taking his advice right now (pulling from cash savings and moving into securities).
- Give. This is a personal thing, but there’s so much satisfaction in helping others. Plus, my rant about the $700 billion robbery a few weeks back implies that the government shouldn’t fix these problems, people should. If people shared the wealth they had, the government wouldn’t have to steal it for social programs.
- Spend some. So this one seems out of place, but it’s important for your health to enjoy life. And sometimes it takes spending to enjoy life (take a trip, buy a new shirt, go out to eat with a friend). That probably sounds superficial. I’m ok with that.

Again, I haven’t done this perfectly. If I have any single regret, it’s that I didn’t put more into my 401k when I was single. Life only gets more expensive, so save as much as you can when you’re single.

Later!