This millionaire stuff isn't that hard. You owe it to yourself to become not only a millionaire but a multimillionaire. Just do it.
Worth your time to read, or so I think.
2 years ago I met a person that had a car totaled out from under them. Before buying a new one, they ran the math on ride sharing vs miles on an owned or leased car. They gave up on owning a vehicle after that and just budgeted $300/mo for ride shares. Actual spending came out closer to $200/mo. For me, $300/mo is $36k of gas, insurance, maintenance, and cost of vehicle on a 10 year scale.Pretty good article. One thing that cost me lots was an addiction to new cars. My kids have that problem too, but they make it even worse by leasing. And night life, in the bars, riding the uber - expensive but they like it.
Congrats, that’s got to be taking work stress off as a bonus too.Got a bit of a late start with retirement savings but on track to join the 2 comma club before year end - month end if the market behaves. The market isn't helping today. Already comfortably in the club as a household (home equity not included). Contrary to the belief of some here (you know who you are), none of mine was inherited. 25(ish)% saving in a simple 3 fund portfolio of low cost index mutual funds and a healthy emergency fund in high yield savings account, CDs, and I-series savings bonds (mostly new money since current rate is something like 3.54%). Still a good way from retirement but on the downward slope and the clock is ticking.
Another high savings rate!25(ish)% saving in a simple 3 fund portfolio of low cost index mutual funds and a healthy emergency fund in high yield savings account, CDs, and I-series savings bonds (mostly new money since current rate is something like 3.54%). Still a good way from retirement but on the downward slope and the clock is ticking.
Don't spend a lot of time there but check in regularly. A lot of the same questions asked repeatedly. What should my asset allocation be? Should I dollar cost average or lump sum? Is this market timing? Etc.Another high savings rate!
3 fund portfolio - do you spend a lot of time at Bogleheads?
That sounds like a really high savings rate if you were to add it all together and divide it by your gross income.I’m currently saving 26% of my base pay in a Roth 401k. Maxing a HSA and putting left over funds in a taxable brokerage account. I really need to work on maxing my Roth IRA though.
I made 2 efforts to pay off the mortgage before maxing the 401k. Hindsight being what it is, I should have pushed for max 401k first. I eventually maxed the 401k then paid off the mortgage in the 3rd effort. My situation: I bought half the house I could afford early in my career, eventually paid it off 17 years later, and my income roughly doubled in that time.Dave Ramsey would say stop with the 401k contributions above match minimum and throw the rest towards the mortgage. He might be right but I'm not doing it.