Here is some really stupid advice for 20-somethings, making the rounds as a viral email apparently:

People who are saving in their 20s are people who don’t set their sights high. They’ve already dropped out of the game and settled for the minor leagues.

Your 20s are not the time to save; they’re the time to gamble. $200 a month isn’t going to make the dent that a $60,000 pay raise will after spending all those nights out networking.

When you’re 40, you’re not going to look back on your 20s and be grateful for the few thousand you saved. You’re going to be full of regret.

You’ll regret the experiences you didn’t take, the people you didn’t meet and the fun you didn’t have because you were too worried about a future that came and went.

Well, I just turned 40, so let me think back to my 20s. I was a particularly clueless 20-something in many ways, but somehow I built a career, saved some money, and had a lot of fun too. There were big expenses and small expenses. The big expenses were housing and transportation. I controlled the big expenses by living in small, cheap places and having a small, cheap car (and later, no car). That left me plenty of money to save, and plenty of pocket change to have a little fun. I am glad I had fun – I have no regrets, other than maybe having a little too much fun and getting behind the wheel once or twice when I shouldn’t have. I certainly don’t regret the “few thousand” I saved back then, which gives me and my family some piece of mind 20 years later. So that’s the advice I would give 20-somethings, if they ever thought they needed my advice – pick a profession, build a career, save, live in a small place, go car-free if you can, make some friends and have some fun. When you turn 40 you will like where you are.