Guide Online Investing Hacks - 100 Industrial-Strength Tips 26 Tools

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The PV of the tax cost is probably more realistically the net worth as that represents such a large portion of the analysis. As someone who has recently discovered the FI community, these numbers provide a great guideline to track against. After putting myself through college I had a negative net worth in my early 20s. Upon getting a job in my field, I promised myself that I would never put myself in that situation again and I started saving what I could while paying down my loans. I am currently 28 years old and my Vanguard accounts just crossed the k mark for the first time today!

Comparing my own spreadsheet to the numbers above I will cross above the average by 35 if I can maintain my current level of saving. Another problem is the money needed for basic living. Most people in Canada live in large urban centres where the cost of living is not cheap. Good luck having your parents come anywhere close to footing the bill these days, especially if they are trying to keep up with the wealth curve shown in this article. Sam, looking at your chart 53 our NW after 30 years of working is approximately that of a 65 year old. No debt. It may be scary, so please try and negotiate a fat severance package.

Just a quick comment from a 53 year old who has worked hard, invested wisely on my own and been somewhat lucky as well as challenged by the circumstance life brings. Sam is spot on. I read the article s and continue to learn yes, I still allow myself to learn. If I would have been reading this 25 years ago I also might have thought Sam is unrealistic. Not saving early, investing early. Yes, dividends have been reinvested. I could have probably bought a car…gone on an expensive vacation…. I changed jobs 25 years ago. Could have withdrawn the money…spent it on something I wanted at the time.

Like I said, please invest early. I could go on with more examples but hopefully you get the point. Spend your time in a positive manner and trying to figure out solutions and looking for opportunities. Actually, great for you. Money is certainly not everything. But having grown up with little, I can tell you that I feel better knowing with certainty that my finances with outlive me. I try to find the balance that allows great memories to be created for my family and yet not live outside of our means.

Best of luck. You may need some. But you can make it happen. Trust me, I did. You can as well. I have to say I think your comment hit the spot. I especially agree with the last paragraph. Money certainly is not everything in life, but it is good be financially sound and know that you will always have enough to live on and then maybe alittle more.

At the end of the day, we are given one life on this earth and we should enjoy it and like you said, create memories. Its all about achieving that balance between enjoying life and living responsibly and within your means. And there are so many ways people can do this by trying to enjoy the simple things in life. One anecdote of this is how many of us point out and in many cases rightly so that expenses have increased while real take home pay has generally increased.

Again, just an observation. Coming from someone who is on target with the above benchmarks, I would say to take it with a grain of salt. Similarly, he is free to define metrics in the way he sees fit and using the statistics to which he is privy. To touch on the student debt issue; One of the biggest mass-crimes of the last few decades in my opinion is the phenomenon of the educational system allowing individuals to pursue degrees that are not financially viable with little-to-no guidance up-front.

By that I mean that when you are contemplating pursuing a degree in any field, it should be mandatory that you are told how much that education is going to cost you vs. It should be no secret that an engineering degree will, on average, command a higher starting income than a communication degree. At many institutions especially private , these degrees cost relatively the same, which does not make much sense to me.

I am not saying that no one should pursue these degrees, merely that someone should approach it with eyes wide open. I think we would have far fewer people in the debt plight that has become commonplace if they were made to acknowledge this up front. Okay, John. You lost me at 3. It is statements like this that give Millennials a bad name. However, it is entirely fair to say that the educational system fails individuals when it comes to pursuing certain degrees and their associated loans. HR departments are knocking people out of their systems based on their education. Interviewees are getting ranked, in part, by the name of the school they got their degree from.

Getting a bachelors degree used to be something to be proud of, and something that would set you apart as a candidate. Now, getting a bachelors degree is the expectation. To get ahead, you have to have a masters degree. I should have clarified. Generally, when making an investment, there is full disclosure of the ramifications of the investment, i.

I just mean that when you decide to pursue the degree, the loan company should provide similar information. People who advocate freedom of choice without the same zealousness for creating an aware population to make same choice scare me. People deserve a choice, but they also deserve to be informed when making a choice. If there was a doorway that said 'go here for a better life' over it, and you were free to walk through it, but there was a spiked pit on the other side of said door, you would probably make a different decision based on your level of knowledge of that part of the situation.

Full disclosure, I am a finance major, and made a good choice with the help of my parents who informed me of all my options when I went to school, but a lot of people don't have that leg up. You are obviously a very intelligent young man. Your views are expressed in a very clear and articulate manner. As a Baby Boomer, I clearly recognize the generational differences between my generation and Millennials. Millennials seem less reliant on independent thinking and more on group-think. I know, painting with too wide of a brush, but there are certain inhibitors that impact [some in] either generation from moving forward in a productive way.

Active listening is a critical aspect of learning. Millennials were the first generation to grow up with computers in the home and classroom, which, in my opinion, has hampered their growth socially. My face-to-face conversations with Millennial tenants involve virtually no eye contact and plenty of texting. Conversely, there are plenty of examples of people from my generation that are poor listeners, which has hampered their ability to make sound decisions.

It is difficult to conflate the pursuit of a degree — and all that it entails — to the choices people made during the subprime mortgage crises. The only similarity is that both groups had plenty of information to make an informed decision, but were they listening? During the subprime mortgage crises, people of all shapes, sizes and age groups made choices that were facilitated primarily by greed.

I was very concerned that one of my properties sold at a percent profit after two years of ownership. Did I know about the banks reckless behavior in issuing stated income home loans, no; or, the subprime lending and lack of government oversight, no. All I knew is that no one should receive that type of return on a property after two years of ownership, which prompted me to sell my entire real estate portfolio and sit on the fence — for two years — until I gained a better understanding of what was actually happening to the housing market. A college friend of mine in his mids leveraged 80 percent of his net worth to participate in this market; he lost most of his retirement.

Both were fully informed as to their debt obligations, but nonetheless, made poor decisions. I must say, though, both of them took personal responsibility for their actions — no excuses, they learned from the experience and moved forward. Blaming circumstances or others for bad decisions will most certainly handicap one form moving forward.

I would be more afraid of not learning from those mistakes. Our generation millenials are maturing in a vastly different time than the previous generations. Cost of living is at record highs, wages have barely moved in the last two decades, and student loans is an abomination that I think will seriously mess up my generation in the future. Even my dad told me his generation had it much easier. Am I complaining about it? Definitely not. Sure I worked hard, but I got lucky as well. After getting a few decent bonuses in my early years , I subsequently invested that at the beginning of the current bull market.

Nowadays, from the aftermath of , my bonuses are negligible. Are you a perfect example of a millennial who is doing well and has it good? Yes, of course there will be those who are still struggling. But even in the struggle, the access and technology we have is still amazing. Congrats on your progress! Apparently the whiners and the winners are at odds among the Millennial generation. I agree that the Millennials have challenges, but so did many other generational groups; remember the stock market crash of ? The difference is that previous generations had two things working in their favor: grit and critical thinking skills.

Millennials, in large measure, have neither one of these skills to help them survive. In , my wife and I had recently graduated with professional degrees and begun working, and we had a negative net worth. Our home is rapidly appreciating in value, one of our cars a is paid off, our weighted average interest rate is 2. Our parents did not pay for our educations and I just work part time. We did several things to make this happen:. In our opinion, wealth building is more about what you do with your income than how much money you make. Well done Dustin!

I like what you say about wealth building as more about what you DO with your income rather than how much you make. There are some folks who discredit my progress or what I write because of the income I made while working in finance. But the fundamentals of finance are the same, and it is often times HARDER to stay in good shape or spend more frugally if you have more money to spend. It sounds like you have properly mapped out your finances and are tracking things well.

See: Track Everything! When did living with parents become a bad thing? My wife and I lived with my parents for almost a year before moving into our first home. Each of our children lived with my wife and me after college.

Background

Our first grandchild was born while his parents were living in my house. We were happy to have the company and they were able to save money. I think living at home for several years after college is totally fine. Especially if you can save money and use that money to buy a home. I would also be wary of painting an entire generation as lazy. Millennials by definition have higher healthcare costs, record student loan debt, a challenging job market, etc. These decisions are mine, and I own them. I just know that these statistics, as they relate to the younger generation, are far off — especially when compared to other studies that report on the same numbers.

Take it from someone quite a bit further down the lifeline than you are and with a grain of salt!! I love the mix and it has yielded long term results. Perhaps others can do it better than I have!! Quite a few young motivated folks here and a mix of whiners too … claiming the bar is too high at the ripe old age of something. I have made a lot of mistakes and am not the smartest guy in the room, but I am motivated, hardworking, and very very persistent. If you think the charts are tough at 25 and are complaining about it … cry to mommy and go home.

I am and have been about 2. No inheritance, no family money, no free ride in college but please try to dismiss me and whine about your problems. Shut up and work whiners. To the rest … congrats.. Same here. Grew up in a dingy 1BR apt on the wrong side of the tracks. Paid for my own school, and cars, and everything from 16 junior in HS on.

But I am also going to let everyone on a secret — get married to a great partner. Life is easier with a teammate who has your back and vice versa. Best financial decision accept that she might be a cost center, but whatever i ever made was to marry someone who shared the same values and goals and stuck it out through think and thin. I too paid my own way through college with three jobs and a small school loan. I slept in my car the last semester of my senior year to save money. To me, searching couch cushions for spare change was a sporting event.

But, inch by inch, I worked my plan to get out of it. I lived with my brother after graduation while interviewing for jobs during the day and working night-audit shifts at night. Once employed, I formed an investment club with a college buddy. We eventually had enough to start investing in buy-and-hold real estate, the rest is history. My plan is not necessarily your plan, but there is a way forward for you.

There are many people reading this blog that have found their path in life; others are looking for it. It is up to you to find yours. It is up to you to give [life] a meaning. Do you think these numbers are not accurate because you are below these figures and in your 20s? There is no discrimination regarding how much you can contribute to the k up to the max. I started saving for retirement way before anyone in my social circle, too. At 22, no one else knew what a Roth IRA was. Got it. Everybody who objects to my figures tend to be under Just give it some time.

Spend more time reading pertinent articles, searching the web, reading my archives and you will see different perspectives. I promise you if you spend a couple hours one day reading posts on this site, or if you want to support financial education and read my Best of Financial Samurai book, you will get super motivated to build your wealth and actually gain more wealth over time.

If you have literally no way to save money, how are you supposed to save money? One paycheck goes to student loans, and the rest goes to food, gas and rent. I go to work, and I go home. It takes a whole lot of sacrifice to max out my Roth every year. I went to a relatively expensive private college. I would be able to go out to lunch once a month!

I would be able to not let my gas ride on E! I would be able to get the medication I need! But the average person my age has a huge amount of student loans. Those must have been some incredibly large student loans! I know plenty of people my age that are doing very well and some that are not doing great. For the most part, those people are either entrepreneurs or have worked their ways up in their careers to command very healthy salaries, combined with modest living. You should not be putting money into a regular IRA or k if available as you most likely will continue to increase your income.

I was largely able to avoid accumulating student debt. As an undergrad I went to community college for three years and an inexpensive state school for three years. I paid for that by working as a dishwasher and a pizza delivery driver. That was a big help as the school was an expensive private school. I still had to pay taxes, but Uncle Sam made me do that just-in-time. Long story short I left school with almost no student debt. The fact that you are reading this site and thinking about your financial future speaks volumes about the necessity of financial planning, Lauren.

My epiphany came much later in life. I now own commercial and multifamily property that provides me with the financial freedom I so desperately craved. There is an old adage that you become what you think about every day. The time between 27 and 60 will move at lightning speed, so I would strongly suggest implementing plans to provide financial security for the year-old Lauren.

Step one in this endeavor is to use your net worth as a scorecard. It is amazing what you can accomplish if you focus your attention and strengths in the right area. Where do I find the gas money to make it to a minimum-wage, after-hours job after working my other job?


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  4. They are the biggest disruptors of student loan refinancing today. Make more money, leverage the internet, and reduce costs. Of course the sacrifice is effort and time. So the question you will have to ask yourself is how bad do you want to achieve financial freedom. Spoiled Or Clueless? Or is it something that has to do with your own beliefs and actions? I get home from my 9-to-5 and spend the rest of my evenings working on it. Until March of I owed 5k in loan. I have a full-time job in finance which covers my living expenses. But holding multiple jobs has allowed me to meet my short-term financial goals effectively.

    Move closer to work if possible 2. Sell your car 3. Get a bicycle 4. Cancel your gym membership if you have one as you now bike every where 5. Go to mrmoneymustache.

    4 Roth IRA Investing Hacks.

    Why do you think people still go to private school and pay that much money when the Internet has made education largely free? Is it lack of education, a great irony. Or is it a lack of financial understanding? Or is it propaganda somehow spending 60, a year on a private school degree means a better life despite whether you can afford it or not? Just developed a good income and savings system, give it enough time to play out and things will look much better over time.

    If you want to be an entrepeneur right out of the gate, and have the means to do so, then spending so much for a private school may not be needed, but it sure helps get a foot in the door in the big companies if you go the corporate route. Many people do, at least to start out. It will be interesting to whether this develops over time.

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    I suspect a bit of hyperbole in the comments from Lauren. That is your own assumption. I am actually slightly above the range of net worth for my age. I am 33 years old and a first generation American. My parents fled a war torn country that had experienced genocide. I grew up poor living in the rough parts of a small city. The pressure to do well was unbearable at times. We were told over and over, you need to be the example for the next generation.

    I took out loans for room and board and worked summers and winter breaks for spending money. I paid off all my loans aggressively, but was fortunate enough to be able to live at home for a couple of years rent free. There is no shame in moving home! When I finally made the move to NYC in my 20s living in a shoebox I really had to learn to budget and save.

    I have had a successful career so far which has allowed me to work and live abroad for a few years as well as travel. Many of my high school and college friends are in the range in terms of net worth provided by FS. Everyone came from low-middle class families. I am technically a millennial, but do not consider myself one. What happened to Generation Y? We are distinctly different from the millennials in our thinking. I am tired of people complaining. Is it because you live in an expensive part of the US? How do you account for household net worth?

    Should it be double for a married couple or partners? Post-Tax may also be commingled. Great question! Yours numbers are spot on for me. Since I had no hobbies I thought I would enjoy the house, golf course and lake that was built next to the house. I have since paid it off and enjoy it very much……………….. Great to hear! I especially like to hear feedback from folks over You can do better than that. My parents paid for my college by planning and saving even in hard times — they were by no means wealthy at that time and still are not.

    My point was that the list seemed to be about personal qualities, attitude, and accomplishmemt.

    Bonnie Biafore | LibraryThing

    So to me, including that your parents paid for your school as making you personally above-average struck me as odd. I definitely agree it makes them above average, though. Lockton, so your comment above talks about how you are above this curve at 50, but then you admit it was because your parents paid your tuition. This, and your insulting comments seems to say enough about your actual character.

    As for the article, what is really missing in this article is that you really need a far above average income to get anywhere near these levels. You also need to be lucky enough to avoid a whole range of potential issues, such as losing your job for an extended period of time, divorce, and disability. Somewhere, in the end, it all evens out. I suppose I have been lucky in many respects — but luck and destiny are somewhat guided by our own actions.

    I fail to see how this invalidates John N. How do you modify your real estate worth over time? I would establish a relationship with a local realtor who will periodically give you comparable market data. When it comes to my real estate investments, I like to factor in the expenses I would have to pay, should I have to sell the property today. And yes, that includes realtor fees. Why do that? It gives you incredible peace of mind to know that your net worth is the amount of money you would POCKET at the end of the day, should you so choose. Also, it trains you to look at the right number, which is what you will end up with at the end of the day.

    To be really conservative, just focus on your liquid net worth not factoring in the value of your home equity at all. I agree. I think the after-tax, after-fees number is better, for real estate, retirement savings, etc. Part of this would contribute to the equity, making your average by 30 low in home equity. The other part would be lost in the nasty world of closing costs, which may be significant depending on the state. This blackhole may be very small or very large depending on the location of the house, but it is still initially a setback until equity accumulates in the property and absorbs the initial investment.

    I wonder if the author is actually a home-owner….. Wishful thinking but way off-base in my book. The article should be inspiration for you — i. Lockon, I agree with your point, the framework of the article is aspirational. The post is aspirational for the majority. You claim though that these are the averages. Between student loans, mortgages, and all of the other debts people accumulate, this is definitely not the average… this may be what we should strive for, but these are not averages. These are for above average people.

    I will bold and we emphasize this point even more in the post be on the several mentions of above average. Thank you for reading. What am I missing? I was simply agreeing with you on closing costs with my own anecdote. Houses imho are not investments. Too much carrying costs! I am fortunate I paid off my house in 5 years. I am 35 with a net worth of k and debt free. I feel one of the main reasons I have become self made is buying a nice enough home that I could pay off quickly.

    I am convinced if I bought that million dollar house my net worth be far less than it is now. Got to enjoy life also. I agree, but like most things there are two sides to this. It is fully paid off. I view this as a good investment. Mortgage free is nice, but leverage also allows for much larger profits, even accounting for carrying costs. The landlord just packs maintenance, capital, tax, insurance, etc.

    Like death, there is just no way to avoid them. The rent one pays on an apartment is based on the rental market that is based on supply and demand. Anyone that has owned rental property, and suddenly had to replace expensive systems like plumbing, the roof, or anything else like that knows this, you can wish you could just tack that cost onto the rent, but raising the rent beyond market would just leave it empty for a long time, so you eat the cost and hope the market will go up the next few years.

    However, a savvy landlord will write into any lease agreement that each year the rents will increase. Fortunately for me, nothing major broke down we did replace the washer, but went with a good quality used one like the furnace, and it excluded major catastrophe in case a hailstorm took out a roof, but you can bet he appreciated not getting phone calls when the disposer needed servicing, etc. The difference in cost over time compounds. My rent has not increased in over 5 years.

    I rent to get richer. I love not having to pay for broken things and I love not paying high utilities and property taxes. I love doing zero maintenance.

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    The power of inflation alone has been strong. Cost of living is the number one variable that determines how much you can save for retirement. Low cost always beats high cost. Betting on high cost housing to give you high returns is a big risk. I have done far better in the stock market and will continue to do better with stocks. If I raised my standard of living, I would have a much lower net worth today. The key to early retirement is not caring about what other people think of you when you live like a student with no money. A frugal person like myself lives like the poor and is happy with the simple lifestyle.

    So the monthly rent payments would be basically like paying off your mortgage payments. MG Summer -I could not disagree with you more. If you have no pension and you are 60 you NEED a couple million to survive and do things for years. Also you mentioned plan for catastrophe???? Do you live in a third world country or a flood plane where your going to get wiped out by the next Katrina. Did you vote for Hillary? The advice here is sound. My wife and I, now in our 70s, are right on target. We were fortunate to not have any of the catastrophes you mentioned, but we did pay for the college educations and weddings of our three children.

    After we retired me at 52, she at 49 , and reached Many years ago, I told my children that, based on our projected savings, they would each inherit a million dollars. Basically, by doing what this site advises, I was right, so far. Sam, it would be cool to elaborate further in this article with a detailed breakdown of net worth detailing asset allocation for each investment category, pre-tax, post-tax and real estate equity.

    I think it would spark an interesting conversation regarding the types and percentage of assets to hold stocks, bonds, CDs, p2p, primary residence, rental, yada yada for each investment category because each category has unique tax implications. Which type of assets maximize returns pre-tax vs post-tax though? Each person is different, but my post provides some good frameworks for different types of people.

    Yes I previously reviewed the article and found it very informative. Do you have a strategy that targets certain types of investments for pre and post-tax accounts? I have just calculated my lifetime gross income from early December, until my 54th birthday Feb. That is right dollars a day for every day that passes. I am definitely happy with that. Greetings Sam. Excellent article along with so many real stories! I came across your website while research on what to do with my finances. It has become a bit more confusing reading so many personal experiences so I decided to directly as you and your audience to hear your thoughts.

    I am a married dude 15 years just turned My wife is 38 we have two children, one in school the other one in daycare. We both work full-time but I also do freelance work on the side. Our mortgage for the house we live, and two rentals. So I decide to buy another property. But have been a few months now and no good deal comes across, I am trying to find properties that gives me some cash flow so I can save that money for emergencies. I can also consider use that income to pay off sooner the other properties.

    BUT there are many people that suggest it is better to get another property for several reasons I do not recall one now. So here is my question: Would you or any of of you, would recommend or not and why to use the cash in the savings to pay off the mortgage on that property. Father Time has allowed me to buy many rental properties over the past years, which has produced a generous amount of passive income. I would, however, stay away from condos like the plague. Nevertheless, you are asking all the right questions. Hello Randy.

    Thank you for taking the time to respond. I am just a regular guy trying to make the best out of the circumstances. Yes, condos are not a good deal in my particular case, but single family homes at the price range I can afford require at least 10K repairs. I could do it, but then my cash reserve will be very low and with four properties I increase my risk of a problem in the event of a big repair, etc.

    That is why I am considering not purchasing another property, but at the same time, it bothers me to have that cash in the bank that is not doing anything for me. They way I see it my money is still there in the value of the property but producing something for me. To me, a simple mortal, this sounds like a good plan but then again, I am not a financial savvy person. We are in a deflationery recession. The only play right now is to hoard cash. Once the derivative bubble pops, the world market will come crashing down.

    It is then that you will be able to use your cash to buy properties times what you can buy now. Save your money folks for better opportunities ahead! But, I see big opportunities in oil over the next few years. I think real estate is doing well largely due to investors. It was easy for everyone to get a loan before the real estate market crashed.

    I see their being opportunities in real estate but not as big as there were a few years ago because lending was different then than today. Just like Real Estate in , we witnessed a big drop. Supply and demand. Maybe a possibility. Hard work, taking risk, and a bit of luck helped me where I am today: 49 Year old, stay at home mom, 2 young kids and lived in US and Asia.

    Net Worth 3. Hark work: Worked hard in school: average high school student and went to average university and had average jobs. My first job in paid me approx. However, It was also a blessed wake up call. I never want to be at the mercy of a corporation and person…at 22 I realized that I needed to be financially free in due course. But I was not happy with my actuarial job. Why did I go off the rails and do something totally different…?

    And I also believed that Asia economies was the place to be…I bet my career and growth on this premise. End game — USD5 mn.. And do something I want…e.


    • The Above Average Person is loosely defined as:.
    • Hayek: A Collaborative Biography: Part IV, England, the Ordinal Revolution and the Road to Serfdom, 1931-50.
    • Model and Data Engineering: 5th International Conference, MEDI 2015, Rhodes, Greece, September 26-28, 2015, Proceedings.

    Hey all. I am 33 with a company that does about 22 million in gross sales per year and 2. Own 3 cars and 2 motorcycles outright and my home worth about k. By made me 80k last year alone but maybe that was luck?? I work hard and treat my people right. People may think this or that but I know I work hard and try my best. How can I make more money.

    We all deserve to be free. So how to achieve that? The Above average person you described 2. The opposite of that person average or below 3. I came here to look at the data which is interesting. Most of the advice seems good generally speaking. I also have no friends. Few mentors. I sit quietly most of the time or just avoid social events. I stopped offering input. So, what advice do you have for me? Is it worth trying to be extraordinary or does it just make me a dick? What advice do you have for me I guess? Maybe this is the wrong place to ask…. You need friends to get ahead in society.

    A great communicator trumps a brilliant mind in my book. Sounds like you are being separated from the world, but you keep trying to follow the world. Change your focus and it will change your heart, your life, and fill that empty void you keep chasing. You will not find it in money. You will not find it in friends. You will not find it in material things. You will not find it in the frivolous things of this world.

    There is one place to place your trust and the rest will fall into line. Ah, the age-old question: Can money buy happiness? Probably the wrong blog for this type of question, but what the heck. They all seem to have the following in common:. They focus on others; 2. They are productive; 3. They realize happiness is found from within; 4. They have a positive outlook on life; and, 6. They have a content mind. Agree with what Sam said. From the postings on this site, we see a variety of motivations for earning more and managing wealth well family, retirement security, charitable causes, etc.

    You seem very articulate and intelligent, and there are probably hundreds of people and causes that you could have a great positive impact on. For example, visit a local school for special-needs kids and just volunteer to look at their books. A few hours of your time would probably bring huge efficiencies and help them help others for years to come … just one example of an wonderful thing you could do. I believe that I am in a very strange business I was let go about 15 months ago as a janitor and yet, I tried harder there than I do now.

    I shall probably be a solid millionaire by age 65 Can you explain that more? Does it matter too much how the wealth is allocated? How much should I be trying to restructure this or do the proportions not matter too much? I have profited handsomely in real estate between and today; granted, I had to sell everything in and sit on the fence for three years, but I started buying again once the market bottomed out. A rising tide will certainly float all boats, but you have to wade in during low tide to enjoy the benefits that high tide has to offer.

    Well said Randy E. The statement that we will flood the market when we all sell our homes is misguided. Our personal residences 3 will be left to our son. To suggest that people will pull market-changing amounts out is far-fetched. Those that blame external factors fear, basically for their financial short-comings are simply making excuses for their poor financial decisions and lack of wealth.

    The s above are a nice starting place, thanks for putting them up…. They have driven RE and stock prices up to high levels starting about Now, these Boomers will retire. Know what happens then? Now, no one knows WHEN that day will be. But according to statistics, it should be fairly soon. Think not? Who will BUY all these stocks? Gen X? Gen Y? So, be wary about anyone touting the returns of the stock market or how good an investment RE is. But will they be in the immediate future? A cursory glance at the stats foresees some dark clouds heading this way….

    Biggest stock market crash in our lifetimes already happened. Were you still in school in or do you not remember? However, I think that since we already went through a big bust so recently, the government is doing and will continue to do whatever needed to prevent it from happening again…. I think one thing that is missing from the article is the question of where you plan to spend your retirement years. I goofed off in college the first time through and dropped out with about 80 credit hours.

    I went back after 15 years in and at the time was making about 33k per year. I took part of the equity for remodel and the value of the house rose about the same as what I spent on remodel value add remodel like hardwood floors and kitchen upgrades. Cost of living here is quite low compared to California. There is no state tax at all either. So, when deciding whether your nestegg will meet demand, consider where you plan to retire.

    This is why a lot of Texas retirees move to Mexico. People have different goals in life. They live in different places and they pursue all kinds of different paths for a variety of reasons. Anyone can feel free to take anything into account that they like when comparing themselves to the standards in this article. My hope is for everybody to be able to have the OPTION to spend their retirement years in the best places possible, irregardless of cost because they have enough wealth. That said, conducting geoarbitrage in retirement is a no brainer if folks are up for going on an adventure.

    Due to my new job, my lifetime gross income from late to August age Your charts are great. But I would love to know what other factors are taken into account. Is your k and or the Post tax Cash, a straight up saving every year without taking into account a non- working or working part-time spouse and 2 or more children? Do you take into account contributions for kids? Childcare costs are raising phenomenal. What about how much equity you have in your home?

    Is that factored in? I have been inspired by your blog and I really enjoy reading your blog. It was definitely one of the blogs that made me want to start blogging myself! I just made a Net Worth model in Excel and was hoping to share it with you. I have posted it on my website:. It gives a person a rough estimate of their net worth over time given multiple inputs. It would be interesting to see the results and forecast you have currently and what my model would spit out! Question: One thing the article does not explain.

    Should your savings in these columns reflect your post home purchase savings? Have been contributing around 8k annually to k plus company match and maxing out Roth contribution for 3 years. The k has about 65k right now. Have 50k savings right now and am looking to put a down payment on a home here in next 3 months. Please share some thoughts here. Jeff, you are free to include the equity in your home as savings. However, just know that the equity is completely illiquid and should not be counted upon. Great website. Doubled salary with the move, bought a condo, rent out extra bm..

    RE is the way but it does take a certain willingness to suffer… e. I am 29 and have been working for 3 years full time since grad school, and renting. It has definitely occurred to me how much wealth I would accumulate if I bought a house instead of renting. In some calculations I NEVER make more money in a buying scenario vs renting even if my rent increases with the market, because my rent is relatively low and my paper assets will grow not being tied up in my house.

    Anyway this is all financial nerd math that we indulge in. What really matters to me is becoming financially independent so I can have the choice to live and work wherever I want, doing whatever I want. Then I want to live in other countries and stuff while I continue to build my business and maybe get back into research in a University.

    Would be a shame to me, personally and not necessarily for anyone else, to just live in the US my whole life. If I can keep it, may annual average salary will jump from 11 thousand a year to 15 thousand a year. One question — how do you determine what networth should be for a couple? Are the charts here assuming both parties in a couple have this month networth so the actual amount in a married couple for savings should be double — or does this change for married couples? But why worry though? Are you worried because you worry about your abilities to make money and support the two of you?

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