Especially if I want to retire by the time I hit 60, invest in a townhouse, house or even with renting.
You didn't pose a real-estate question....but couldn't help commenting.
Every situation is different, but many on this forum are DIYers to various degrees. A townhouse's monthly dues of several hundred dollars can add up quite a bit over time. Think long and hard about buying a townhouse, versus being a DIYer and taking on that risk of the roof and yard maintenance on your own with a smaller house. Over 10-20 years, those monthly fees can add up big-time.
Feel free to chime in on how you took control of your careers and boosted your earnings over time.
Well, my personal situation is only having worked at my family's construction company for 8 years, followed by my current employer for just over 4 years. I did get an offer from another company back in Feb, and put my 2 week notice in....and then promptly had a much more generous compensation package given to me by my current employer, which caused me to stay.
So, having worked for just one "real world" employer (i.e. not the [-]overly dysfunctional[/-] special situation of working for family), my advice is limited, but here it goes:
Work hard, get noticed, keep looking out for opportunities and don't be afraid to jump ship if you have to. I've seen people who started at a company the same time I did make 3 or 4 jumps when I only made one. Every 6 months they applied to an opening and got the position they applied for. Situations can arise in a company where one mistake is on your record and it prevents any type of promotion / transfer for 6 months to a year.
It sounds like you have a good fearless attitude of getting out there and improving your career path, which is great! I'm a little more comfortable in my position given my past sacrifices, so I can look more for 'quality of life' aspects of the job rather than what will get me to the FIRE line sooner. As I mentioned above, don't be afraid to look for new positions at your own/other companies and apply. Also, if you get a job offer from someone else, don't be afraid to show that to your current employer to try and negotiate a better situation at your current job (salary and/or position). HOWEVER, it can backfire, either in being fired, or having them trust you less and think you'll just repeat it again down the road. All depends on the industry and employer.
Also, remember one thing I learned the hard way: when I started working for the non-family employer, I had a rosy view of the job world. I thought only my family was back-stabbing, made me suffer through the younger-brother/son' syndrome (i.e. you're too young to know anything), lacked productivity, etc....boy was I wrong!
Just because you bust your butt and do a pristine, PERFECT job doesn't mean it will amount to a hill of beans. You WILL be ignored, looked over, have your creativity/production stolen from you and your efforts 'shared' with your boss/co-workers, etc.. Peoples' personal traits WILL get in the way and make life hell at times. Realize this. Don't think it's a simple as
Working extra hard + having a job = great raises/promotions
First and foremost, know how to recognize peoples' traits early on, and know how to work with those, and in spite of those. If your boss ignores you, DOCUMENT things. Don't be afraid to know how to politically hold your ground when you are correct, but also know how to do it politely as possible so you ruffle as few feathers as possible. You will have to bite your tounge many times over the long haul. It's tempting to go for a short-term victory, but sometimes it could lead to losing the battle (in the form of promotions/raises).
One other bit of advice - be wary of jumping ship too many times. If your resume shows 10 different employers over 5 years, future employers will assume they'll be #11 with their company occupying another 6 month stint on your resume, and they'll have to look for another person to fill your role 6 months from now when you inevitably jump ship again as you did in the past. While your courage to constantly look and better yourself is commendable, being too aggressive could carry long-term negatives. Don't jump ship for just a meager amount or role...make it count
. And learn as much as you can from wherever you are, as it may take a while to get to the point of being able to learn new things at an existing job.