Economic survival advice: what would you tell young people these days ?

[A HERETIC I AM]

3. "Pay yourself first"

The adage that suggests placing money in savings/investments/retirement accounts FIRST, before you pay your bills.

This demands discipline, but if one pays all the bills first, one tends to use what's left for superfluous items.

Of course I include all living expenses in the word 'bills', but the primary point is to save and save religiously from the very beginning. Something lost on many, not just in my generation (last of the baby boomers) but subsequent ones as well. (edit) A 30 year old with a positive net worth is very rare, and being able to proudly know that one has a 5 figure positive net worth (as an example) at a young age is very satisfying.

Also, use credit cards sparingly and do not look at the "Available credit" number on a credit card statement as free money. It is, as I am sure you know, damned expensive money, to say the least. Don't get into more debt than your salary allows.

Put as much down for large purchases (Home, Cars, etc) as absolutely possible, to the point of being painful.

Ask them "How long do you want to work?" The secret (and it really isn't a secret) to a secure and early retirement is proper planning and discipline.