I was asked a great question last week from a client. “What financial advice would you give my 18 year who has just started his first full time job?”

It really got me thinking. What would I tell my 18-year-old self about money.

Below are my 3 money lessons:

1. Start investing now.

Don't wait until you're in your 20s or 30s or 40s or 50s. Start now because the longer your money is invested the better it is for you. It’s time in the market not timing the market that will make you wealthy.

2. Buy as many assets as you can.

My first major purchase was a car just like most 18-year-olds. Unfortunately a car costs you money, it's a liability. A car will never make you money. Focus on buying assets that generate money such as shares and property. Then allow your investment returns to buy the car for you.

3. Take more risk.

Most 18-year-olds live with their parents which means they can save a lot. The money is sitting in the bank account not earning a lot. Sitting there until they figure out what to do with it. Figuring out what to do may take months if not years. All that time, your money is not earning anything for you. Take risks and do something with the money. Always ask yourself how can I grow my $1. If it doesn’t work out, you have time on your hands. Take the risk.

By following the above I promise your future self will thank you.