-Don't invest in single stocks. ( enron or mci anyone?) Invest in growth stock mutual funds.
Dont buy a home on a ARM... the only way the rates are going now is up. On the same note, if you cannot put 20% down, keep renting as you really aren't ready to buy a house.
Never borrow against your home. Why would you risk your HOME against some credit card debt that you bought pizza with?
If you decide to invest, find someone locally, yes- not on the internet, that will sit down with you and teach you. Make them show you why it is good to invest in that genre of investing.
If you really wanna be wealthy, why not act like it? Check out this book:
The Millionaire Next Door
You'll find neat things like:
Most millionaires don't have, and have not had in many years, car payments.
Most millionaires do not spend more than the average person for things like clothing or shoes.
Most millionaires do not invest in single stocks, they diversify in mutual funds.