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Old 12-08-2019, 03:07 AM   #76
Hawker
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Quote:
Originally Posted by Draz
Finally hit $100k today.

Feels amazing but now I don't know what else to work towards.

Look up CD Ladders for that $100k.
Put $25k each in 3 month, 6 month, 9 month and 1 year CD and as each one matures take the earnings and reinvents the principal in the CD so you'll always have money coming in every three months. When the 3 month CD matures, put it in a one year CD, same with the 6 and 9 month.

There's no reason for you to continue to save as you'll be over saving at this point. You have your emergency fund. Now you need to maximize your retirement contributions and look to buy a home. Start saving for a house deposit.

Buying a home makes sense to avoid paying mortgage or rent in your retirement as that eliminates a huge expense.

You can also maybe increase the amount of money you put towards your leisure activities or long term holiday fund.
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Old 12-08-2019, 05:25 AM   #77
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Default Re: Finance Advice Thread

Quote:
Originally Posted by Draz
Finally hit $100k today.

Feels amazing but now I don't know what else to work towards.
Watch Graham Stephan, great resource. The big three would be businesses, stocks, or real estate. They all have their pros and cons.
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Old 12-08-2019, 01:12 PM   #78
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Thanks fellas. I'm way too liquid. I'm going to have to make a move soon. I was a man on a mission this year to hit this goal. Not sure how I compare to other people my age (27) but, I can tell I'm doing decent. I just need to focus on my future now and stability (mental and emotional) for how stressed I am with this line of work. I'm exhausted.

That's my biggest worry. I can't be too excited with this accomplishment until I finish this out.
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Old 12-08-2019, 04:32 PM   #79
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Default Re: Finance Advice Thread

Quote:
Originally Posted by Draz
Thanks fellas. I'm way too liquid. I'm going to have to make a move soon. I was a man on a mission this year to hit this goal. Not sure how I compare to other people my age (27) but, I can tell I'm doing decent. I just need to focus on my future now and stability (mental and emotional) for how stressed I am with this line of work. I'm exhausted.

That's my biggest worry. I can't be too excited with this accomplishment until I finish this out.

I saved my first $100k in liquid when I was 28 and single so if you did this with just your portion of total household income while married, it’s actually pretty impressive considering the fact that saving with 2 people’s purchasing interests in mind is more difficult than just your own. Ultimately you want to get to the point where you have a career that is not stressful and pulling in 6 figures a year. Find someone you know that has done this, and model your career after theirs. That’s what I did. The end result is so much free time and minimal stress lifestyle where at that point your just setting small goals and knock them out one at a time. With regards to sound investments, read...read....and then read again. Then talk to people who have done well and absorb their advice like a sponge.

This forum is excellent:

https://www.bogleheads.org/forum/index.php

Last edited by egokiller : 12-08-2019 at 04:36 PM.
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Old 12-08-2019, 08:06 PM   #80
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Default Re: Finance Advice Thread

Consider betterment.com if you are too lazy to research/buy/sell stocks yourself. Betterment uses artificial intelligence to automate the process and maximize efficiency
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Old 12-09-2019, 03:12 AM   #81
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Default Re: Finance Advice Thread

Quote:
Originally Posted by egokiller
I saved my first $100k in liquid when I was 28 and single so if you did this with just your portion of total household income while married, it’s actually pretty impressive considering the fact that saving with 2 people’s purchasing interests in mind is more difficult than just your own. Ultimately you want to get to the point where you have a career that is not stressful and pulling in 6 figures a year. Find someone you know that has done this, and model your career after theirs. That’s what I did. The end result is so much free time and minimal stress lifestyle where at that point your just setting small goals and knock them out one at a time. With regards to sound investments, read...read....and then read again. Then talk to people who have done well and absorb their advice like a sponge.

This forum is excellent:

https://www.bogleheads.org/forum/index.php

I'm in the Vanguard retirement 2045 retirement fund.

John Bogle is a great man. Invented the first index fund.

Man I bought six chicken thighs for only $3.50 (not USD) and bought a bag of potatoes for $4.00 made a great tasting mealfor really about $3.50 in total that lasted two meals.

That's cheaper than any fast food or restaurant meal.
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Old 12-09-2019, 07:19 AM   #82
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Quote:
Originally Posted by Hawker
I'm in the Vanguard retirement 2045 retirement fund.

John Bogle is a great man. Invented the first index fund.

Man I bought six chicken thighs for only $3.50 (not USD) and bought a bag of potatoes for $4.00 made a great tasting mealfor really about $3.50 in total that lasted two meals.

That's cheaper than any fast food or restaurant meal.

Thatís a good fund. Eating that way is not only cheaper, but itís the right way to eat healthy. Add a vegetable and you are set. I eat every 3 hours and meal plan each week on Sunday. Cook all the shit in the beginning of the week and store in Tupperware. Itís a much better lifestyle than stuffing your face with tacos and burritos all day thatís for sure.
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Old 12-27-2019, 11:02 PM   #83
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Was talking to accountant coworker at work today, she said that if you have money lying around and maxed out retirement for the year that buying+renting out a property on airbnb would be an option.

https://www.youtube.com/watch?v=fvK6ihMzJbE

@Sajo

Definitely something to consider if your area allows it.
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