If I Were 22: 10 Tips for The Class of 2014

This week on LinkedIn, a boatload of thought leaders were asked to share their wisdom to all the youngins graduating college across the country. The common theme was the question of follow your passions vs practicality, highlighting that the majority of commencement speeches harped on passion and lacked on the latter.

While I'm not 50 or 60+ as those who were asked to share their advice for the class of 2014, at 30 I have many things to say to my 21 year old self when she graduated college. So here's my take on the #IfIWere22 writing prompt.

1. If you want to take a few months or even a year to travel the world and can afford to do so, do it, but volunteer and try to pick up various jobs along the way so you have great stories to tell when you interview and return. It's much easier to take the time now than it will be later. If you have large loans to pay off, a year-long trip may not be possible, but see if you can do a month. Traveling abroad can be very cheap, even cheaper than living at home.

2. Your first job is not your last job. That's ok. The most important two things in your first job are 1) does this job enable you to use and hone high-value skills on a daily basis (i.e. as a journalist I learned how to become a much better and faster writer) and 2) does it provide an opportunity to network with the right people.

3. Speaking of the right people, it's great to work hard and get stuff done, but don't forget to take the time to look up and talk to your colleagues of all levels. Ask more senior level folks for coffee and start to get an idea of where you see yourself in 5, 10 years. Ask them what they would do differently at 22 if they could.

4. Unless you really hate your family, make sure to spend as much time with them as you can (without going crazy) through your 20s. It's easy to get caught up in your own life, but when your family has their health (if they do) this is a good time to spend with them, not waiting for them to get older and sick. Sure, it may cost a few hundred dollars to visit family for the holidays, but spend it if you need to.

5. Open a Roth IRA if you haven't already and start saving for retirement. It sounds like a far way off but it really isn't. Roth IRAs are amazing tax shelters for lower income earners. What's more, thanks to the magic of compound interest a penny earned today is worth much more than a penny earned tomorrow. While you shouldn't just work for money in your 20s, and you should take time to travel (see #1), do focus on increasing your income as fast as possible so you can invest as much of it as possible. It isn't at terrible idea to consider taking on two jobs now to increase your income, you have the time and energy now to do this. Try to land a day job with health insurance and then make money on the side doing what you love or helping out with random tasks.

6. As your income increases, do not spend as if it had increased. Your 20s should be about reasonable frugality and investing. This will make it possible for you to enjoy life much more later. (Even if the stock market goes down dramatically, as it did in 2008 just a year after I began investing, it will recover. Buy Vanguard funds to start, don't try to be a stock picker, but do learn about the markets and how they work.) If you ever want to be able to afford your future children's sky-high tuition costs when they reach college age, or even part of those costs, saving now is key. If you have $10,000 to save now, at 5% rate of return over 10 years, that $10,000 will be worth $16,289. That same $10,000 would be worth $43,219 in 30 years. At 22 compound interest is your BFF.

7. Don't forget your passions. While your day job may not encompass all of these, what you love now will probably still be what you love and care about in 10 years and beyond. It's possible you can take these passions and one day turn them into a career. Invest in yourself and pursuing these passions. If you like to sing, sing. If you love robots, build one. If cooking makes you happy, make sure the place you rent has a reasonable kitchen. Do one thing you're passionate about every day.

8. Don't be afraid to move on from your job when the time is right, but don't change too frequently. You'll know when it's time. Additionally, you will learn a lot and fast, so don't underestimate the value you can provide to your own or a future employer. Also, by the same token, don't overestimate it. The worst thing you can do for your career in your 20s is stay in one job if you don't think it allows room for growth.

9. Don't have kids in your 20s. I'm going to get some flak for this one, but I am a firm believer in waiting until you've saved substantial wealth before bringing anyone else into this world. That said, if you're a woman, don't ignore the fact that it gets harder to have kids in your mid and later 30s, so if you want kids and you're female take time to date and find your soulmate. However, don't settle for Mr. Wrong. If you don't want kids or plan to adopt, then this is not relevant to you, but if you think you want a family and you're female, don't forget that there is a biological clock you're working with here.

10. Make mistakes, but minimize your losses. Your 20s is the time to swing for the fences. Try a lot of everything (this doesn't mean spend a lot of money on everything.) Even if you're shy, take time to get to know a few good people. Your network is more valuable than anything else in your life. Don't be fake. Trust yourself and what you know is right, but be open to new ideas as they come. And most importantly, have fun. You'll be 30 before you know it.