Personal Finance for Men: Making and Saving Money

In the latest Danger & Play podcast (available on our SoundCloud), we discuss personal finances for men. We received a lot of fantastic reader questions. Thank you for submitting them. We did our best to get to all of them.

Your Questions About Personal Finance for Men

  • Can you talk about the mindset needed to quit a well paying job to become self-employed?
  • When it is too late to make a career change?
  • Roommates – bad news or what?
  • Is it beta to live at home with your parents?
  • Assuming you’re earning between 40-80K, what are 10 things you can do to maximize your net worth?
  • How do you invest? Should you trade stocks or buy index funds?
  • How much money should you have saved in a “rainy day” fund?
  • Can you eat big while on a budget? If so, how?
  • How do you start over when you’re broke in your 30s?
  • How much money to you need to make in order to create a  lifestyle that impresses women?
  • How much money do you need to earn to move to Las Vegas?

Have additional questions?

Post them in the comments below. Or find me on Twitter. If there is enough interest and additional questions, we will do a part 2.

Podcast 3?

We do these podcasts for you, and the second podcast was done in response to reader demand. What do you want to see covered in our next podcast?

Listen more: Danger & Play Podcasts.

  • Aaron

    Yo dandp,

    Great, professional, straight to the point, no fucking around podcast my man.

    You and your buddy are a great team.

    Some q’s for next time:

    You mentioned cognitive traps. What are the most common cognitive traps that young entrepreneurs need to watch out for?

    Everybody is always looking for the answer you know? How do I fucking make money? What business can I start right now, that will make me some fucking money? I don’t expect a straight answer, but it’d be badass to hear you guys opinion on that matter.

    I’m starting to buy and sell on craigslist as a side hustle. I’m starting with watches, since that is something I have some experience buying. Any advice?

    I want to be fucking jacked. I’m in my early twenties and considering pro hormones to gain some fucking muscle. Tired of being slightly better than average athletic person. How do I fight this urge? I want the fucking power, the strength, I want to take my shirt off and make pussy around me dripping wet. I want the high t to help me make more money too.

    I had some more questions that would’ve been great to ask, but they slipped my mind.

    I look forward to hearing what you guys have to say or even other readers of this blog.

    • Danger & Play

      Thanks for the ideas; the more the better and we intend to make the podcast a regular feature.

      (And of course anyone reading is welcome to chime in with your own responses to his questions/comments.)

    • ello

      I’ve bought gorgeous timepieces in the Philippines. if you pick a simple mechanism eg no dates they will last. there is a market for these, especially if you stay away from known brands.

  • Mark

    I think a podcast that focuses solely on self-employment would be great.

    Or maybe a podcast about how to climb your way up the corporate ladder.

    Just out of curiosity, which wordpress theme is this?

  • Mark

    In the past you’ve encouraged lying. Do you recommend lying on your resume to get a gig? For instance, I want to get a job in sales but I don’t have much sales experience.

    Or let’s say I’m two years into a copywriting career. I want a position with a specific agency but they require a minimum of five years. I know I would do the job well. I know I’m better than most of the guys who have been doing it for 20 years. What’s the harm in lying to get the gig if I know I will do it well?

    • Danger & Play

      Do employers make false promises to you? Is any employer ever really honest with its employees, or are they always looking of ways to break promises and screw you over? If so, what’s a little white lie on your end?

  • Mark

    Here’s the real question. What are some of the best sales gigs to get if you want to rake in huge dough.

  • C. Freeman

    Popped out of longtime lurking to give props, this was right up my alley.

    Most definitely looking forward to a part two – there are lots of us in the 25-40 demo that are itching for this type of content.

    The point you both made about men being *forced* to be entrepreneurial in this time period really hit home.

  • Manny09

    Is there a download link for these?

    I have a 1 h 45m hour commute to work every day, so it’d be convenient for me to listen to the podcasts then.

  • Aaron

    Should a single man rent or buy an apartment/house/condo?

    Does life insurance have any value for a single man?

    • BA

      A single man doesn’t need life insurance. All you’re doing is giving somebody a ‘cash prize’ if you die. The purpose of life insurance is to protect your family if you die unexpectedly. If you don’t have children to raise, you don’t need it. I had term life insurance when my kids were small. Once they became adults, I cancelled my policy. Also, if you do have kids, only get term life insurance. Not whole life, which tries to combine insurance with an investment and the result is you lose.

      I would recommend short-term disability and long-term disability, so you have some income if you get hurt.

      Rent vs buy. That’s harder. Owning is nice cause you can do pretty much what you want with your property. And you can put down roots & be part of a community.

      Problems are property taxes (2% a year here in TX), HOA’s, maintenance, improvements, repairing damage and the mortgage (French for ‘death pledge’). Selling a house is hard, regardless of the economy, and it will cost you approx 10% in selling costs. Your house might appreciate and sell for a higher value. Though I doubt that it will be more than you pay in interest. Alternatively, your neighborhood may turn into a slum.

      Biggest issue for me on the house is that it limits your flexibility. Want to move to a better part of town? Got a gig overseas, or in another state? Want to move to a state that is better for you politically? That asset & liability combination (house & mortgage) are a millstone that you must deal with.

  • Joshua

    Another good podcast, D&P.

    Your friend is relatively pessimistic about beating the market – in this instance, I disagree with him…

    Index funds have their place but, over time, value investing will always outperform the market.

    I began info-marketing in 2007. Had a five-figure launch followed by a six-figure launch. With money to invest, I began learning to price the instrinic value of a business. The crash hit at the perfect time… I bought into good companies on the cheap and have done exceptionally well.

    Even after the crash, I continued to buy into good companies at shrewd prices and have outperformed the market.

    When investing your strike rate is very high if you buy at sensible prices. Plus, you get an income off the company (dividends). The returns dwarf the odd mistake.

    But value investing is a long-term game. Most of the companies I buy, I would be happy for the market to shut down for five years as I generally intend to hold for much longer than that.

    (That said, I’m currently learning to invest over relatively short time horizons (one to three months) with the guidance of Anton Kreil. This time next year, my thoughts on investing may have evolved.)

    • Danger & Play

      Thanks for your input. We don’t know eveything and always keep an open mind.

      • Joe

        I love how you guys tell it straight on corporations and the whole plantation game they run on as many of us as they can. Really, a mans only choice is to get away from those sociopath pigs and do his own thing. Ideas on how would be super cool.
        What do you guys think about importing cheap crap from China- Alibaba is a site full of half ass turds though- who buys all that cheap crap? Seriously?

  • Joe

    I enjoyed this podcast.

    Can you give some specific ideas on how to start a successful commercial operation? Is online better? How can you Crete a good niche? What are some areas or opportunities that will be big in the future?

    You guys seem to know a lot about lifting- can a dude over 35 who hasn’t been lifting his whole life get jacked and pumped enough to make an impression on low 20s girls? Do you prefer 5×5 compound lifts?

    Eastern Europe is it good for game? What about South America?

  • ‘Reality’ Doug

    Your podcasts are excellent. I know it’s hard to do. Some of the information is news to me and believable. Today’s worker is like a soldier in a landing craft, door down and no cover, looking up a mountain of sand, mines, barbed wire into the breach of the guns of the haves. Only the highest high ground is worth anything anymore. Always happens in a winner-take-all economy, shrinking, endlessly shrinking. I’ll consider Vegas for my job search. I’d rather get paid now and learn some marketable skills if possible. In my case it would be a step up as long as it’s a middle-class job. I’m no entrepreneur until I figure out how to give people what they want, and they are the fucking egotistical hedonists as you essentially said. You know how many people looked me square in the eyes and told me about honesty, integrity, pulling together as Americans. Fuck them. Appreciating your honesty and integrity about looking out for #1 and people who actually matter to yourself as #1. You ever wish you could have been your own dad? The cost of incompetent parenting has to be fucking staggering, as designed of course. CH gave some real advice on that lately. I love the true red-pill stuff! Great job!

    • Danger & Play

      My dad went well but made many mistakes. Yes, I wish I had been my own dad and am happy to play a “big brother,” “uncle,” “older mentor” roles to so many of my readers who had incompetent dads or no dad at all.

  • Eddy

    Great stuff,do you guys think that college degree is that important,considering expenses and all that


    • Danger & Play

      College is a fun party. It’s necessary for some jobs (engineering, finance, pre-med, etc.). If you don’t know what you want to do, take some time off before college.

  • http://N/A Adam

    Hey, long time listener (reader), first time caller (commenter)
    This is great stuff. Wish I not only heard this earlier, but I implemented this earlier.

    I like the podcasts as it is more personable (also think I am more of an auditory learner). That said, I would be interested to hear your and Jay’s personal stories of success and failures.
    I always enjoy hearing other’s life success stories and it is a good inspiration. If someone else can do it, I can maybe as well. I enjoy the positive and can do mentality you and Jay possess.

    You were talking about freedom. Is freedom a mindset or a number (i.e. $1M in the bank) or just knowing that you don’t have to work?
    (speaking of freedom , I have to laugh as I cannot access the podcast from work. Soundcloud is a blocked site! Master doesn’t want the slaves listening!)

    What’s your opinion on work? I find that working on something that I enjoy gives me great joy/fulfillment/etc (again probably a mindset / attitude thing). I think that one can only goof off so much. Not sure if you feel that or if it is just an ingrained guilt/shame that I have, but I feel like I have to do something / work towards something. Just my two cents.
    Keep up the great work and thanks for providing practicable, actionable, helpful advice.

    • Danger & Play

      These are great questions; thanks. We’ll do an “Ask Us Anything” type podcast within the next couple of weeks.

  • ello

    I was surprised to learn about the CFO ego trip. let’s hear more of these unpopular truths. more stories about the human aspect of becoming an entrepreneur, about reasoning in business and at work.

    I’ve recently started my first big side hustle. it’s bringing in maybe 500/mo after expenses. initial calcs had put me at 1.5k/mo but there is so much that comes up. I’d like to hear about the individual challenges and pitfalls budding entrepreneurs face.

  • Rick

    I was thinking of emailing you these questions, but since you’ve started the podcasts I figured it’d be more beneficial to throw them out in public:

    -I’ve read your posts on it before, but what are the more specific pros & cons for a young man (22 now) joining the Marines/Army now? Would you recommend it? I have my own reasons for considering joining, not trying to be a real patriot or anything.

    -Older women/sugar mama pick up tips?

    Bonus: any good dog training books you’ve read?

    I consider you a true mentor who has given me the tools to succeed when no one else would. As a long time manosphere lurker you pushed me to start engaging in these parts. If you answered those in a podcast or even here that would be great but otherwise don’t stop, you’re on a roll with these.

    • Danger & Play

      Great questions and thanks for the kind words. I’ll answer them in a Q&A podcast.

      Briefly…If I were to join the military, I’d either go all in and get in shape to be an Army Ranger (11 X-Ray with an Option 40 contract) or else I’d get an easy gig with the Air Force.

      You’ll meet a lot of dirt bags and idiots in the Armed Forces. So either be elite (Rangers) or get that government cash and GI Bill money and stay safe (Air Force). Anything in the middle would be unacceptable.

      • Rick

        Awesome. Thank you. An elite unit has always had appeal to me, but my shitty eyesight made me think twice. It’s fine with glasses so I hear it’d be okay. I’ll look into it, maybe I can get some LASIK out of it.

        Air Force or even Coast Guard would be nice in their safety, but I want to get over the fear of death. I’ll think about it more and prepare in the mean time, thanks again.

      • Howard Beale

        I agree as I was in both an elite and non-elite Army unit. The difference in quality and intelligence of soldiers is big. To this day I’m still in touch with some of the elite guys, but non of the others

        The Army was full of L.I.F.E.R.S. – Lazy Incompetent Fuckers Escaping Reality

  • Badger

    A bit late to the thread but this was outstanding, thanks for answering so many of the questions I posed in the first podcast thread. Living free with financial security has got to be such a relief, and I like how you guys emphasized not being caught up in the social trappings of lifestyle – i.e. crockpotting, living with parents/a roommate – so you can actually focus on living the lifestyle you do want to live. The book “The Millionaire Next Door” talks about how most wealthy Americans become wealthy because they have financial security as their top goal and are deeply motivated by it moreso than by living a rich lifestyle.

  • Poledaddy

    I thoroughly enjoyed your guys comments on office politics, particularly Jay’s story about getting pushed of his gig out due to hate from the CFO when he was a rainmaker. And your comments on the “autistic” mindset that all companies work logically. Would love to see that stuff expanded in the future. Strategies to navigate office politics present in self and corporate employment, becoming indispensable to your clients/boss. Especially when you have cases where your client/boss doesn’t understand what you do exactly (for instance old school CEO and you are a technology consultant of some kind). Excellent work, please keep it up.

  • Poledaddy

    One more thing – if you can share or link the recipe you use for crock pot chilli, that would be awesome. I’ve had a crock-pot for a while now; tried a few things but haven’t found something I liked yet.

    • Danger & Play

      Just saw this comment. Yeah, I’ll post up some recipes.

  • Hugo

    Finally got time around to listen to this. Neat podcast btw.

    Much of the entrepreneurial fire is fueled by a desire for freedom and the resistance of being a wage slave. And good on shattering the myth that you wont be working when you’ve ‘made it’ as an entreprenuer, most of the time the advantage is putting in the hours when you want.

    Work is just imposed by you now, instead of some other dud.

    Cheers for this creation.

  • Zachary

    What do you think about investment properties?

  • Barry W

    Outstanding podcast. Very impressive.

  • Dionysus

    Hey D&P,

    You have previously suggested for me to get a job, but I can’t find one. I am 21, and need the pocket money as I am getting sick of relying on “mommy” and by relying on her financially allowing her to control my life (which she tries to do). I’ve been looking for a retail job, but no one seems to hire (other than pyramid scheme companies that want you to sell water filteration systems or knives using shady means).

    What kind of job can you suggest? Where can I find it? Whom do I talk to find a job?

    • Danger & Play Blog

      I’m not the right person to ask those questions. Go talk to Robert.

  • Ao393

    This podcast here was amazing – what I’ve noticed however in the Manosphere is the huge lack of lessons in how to make money for the younger crowd such as myself (18-21) other than the Oil Fields or getting a good degree job. I myself am going to start doing CPA marketing. I really want to get $5,000 per month coming in minimum and then I’ll either stay in my city or move to Vegas while traveling a lot. Also, a part 2 would be great.

  • George Potter

    Very good information. But if I am from a country where my salary is 400$ and I sped 100-150$ on rent, how can I spend 250$ on food?