I have been lurking on these forums for a little bit, as well as educating myself recently on the philosophies of MMM and other individuals such as Dave Ramsey, Jack Bogle, Ray Dalio, Tim Ferriss (via various podcasts, bigger pockets, YouTube channels et al). I have learned a lot in terms of understanding certain key financial tenants that I must respect and employ if I wish to attain financial independence. I know enough to realize that I must set aside a budget that I shall stick to, plan to save about 40% of my income, utilize my company 401k as well as a Roth IRA of my choosing to take advantage of compound interest. I am also getting into various entrepreneurial endeavors which I will share in the future. Additionally, I wish to get into the world of rental properties and perhaps go full Grant Cardone and buy an apartment complex in the distant future! However, it seems while following so many financial "gurus," that while there are certain aspects of what each says that parallel one another, many of their recommendations and opinions differ to a point where I feel that I do not know which direction to go. I am suffering from paralysis by analysis.
For example, Dave Ramsey says pay down debt immediately, never lease a car, own a home, invest in Growth Stock Mutual Funds (as opposed to Index Funds) which outperform the S&P and break it up into 25% growth, 25% growth and income, 25% international and 25% aggressive growth. He also seems to say that one should utilize a financial adviser and a good accountant and not to worry about fees because, "Fees never prevented anybody from becoming rich." He also recommends Class A shares as opposed to no-load funds, and thinks that one should pay down all of their debt before even considering investing of any kind. Meanwhile, individuals like Bogle and Buffet would recommend Index funds instead.
Then, I listened to Rob Berger, who utilizes a 6-fund mutual fund strategy and also believes in switching up his asset allocation during say a recession period vs a non-recession period. He also believes that target-date funds are a good way to go. Contrary to Ramsey, Berger states that waiting to invest until one pays down all of their debt is foolish, as that can take time and you are losing the ability to take advantage of the compounding by waiting x amount of years to invest.
Then, we have individuals like Grant Cardone (while not a financial adviser), who says the hell with any investing of any kind in terms of a 401k or Roth, and that one should stockpile away cash working hard until they have amassed enough money to put together a deal acquiring a business or real estate, which will then provide them with passive cash flow at a higher percent return rate than any index fund could. He also thinks that owning a home in and of itself does not necessarily mean that it is an "asset," and that one should "rent where they live and live where they rent."
So here is my situation...With all of this information, I am not sure which direction to go. I am not interested in becoming an active investor, and would prefer a solid strategy to apply that I am able to employ consistently and without worry that I am not "doing the thing that would yield the best returns." I am in my early 20's, and have just graduated college with $38,000 to pay back. I have a car payment of $212 per month, car insurance of $140 per month, a cell phone bill of 60$ per month, and my loans (which start in a few months) start at $200 per month and increase $100 each year, (never going above $400). I currently live at home, although in a year or so I plan to have an apartment closer to work, and I have just started a new job which is only 30 minutes from home. The job pays $55,000 base and has an unlimited commission, although the average is about $15,000-$20,000 per year. The company also offers a 100% match up to 5% for my 401K. I also have $1500 in an ETF (SPDR) from a long time ago (before I realized what I was doing or knew anything about investing). I had not contributed to it, so I ruined the compounding, and it has been just sitting there for 5 years.
Given this information, where do I start? I want to set myself up for success. How should I set up my 401K through my company? Also, should I start contributing to a Roth IRA as well, and if so, should I hire a financial adviser to manage it for me or simply use Vanguard? What should my asset allocation look like? How much of my income should I look to save? What smart moves should I make in my 20's to set myself up on the road to financial freedom and independence in the future?