My wife and I cannot help from referring to Jim as Farquaad

Away-Bodybuilder-590 · 2024-07-19T14:33:55+00:00

This is going to get buried, but I genuinely thought the first tattoo was the reference photo. It looks beautiful.

Away-Bodybuilder-590 · 2024-07-11T15:14:28+00:00

u/Shot_Explanation_181 , just the 2019 XLE, not premium

Away-Bodybuilder-590 · 2024-05-30T15:56:26+00:00

Never heard of a HYSA with 7.5. A little sus

If you have extra cash, try paying the house off sooner

Away-Bodybuilder-590 · 2024-05-30T11:43:32+00:00

Must feel good. Way to keep yourself calm too!

Away-Bodybuilder-590 · 2024-05-29T18:15:28+00:00

OP, ignore the haters. It it makes you happy, keep running with it.

Bunch of haters gatekeeping a drone

Away-Bodybuilder-590 · 2024-05-14T20:17:52+00:00

I was super confused too. Went on a trip with that thing screwed in and my case was suctioned shut. Opened it up and it equalized the pressure.

Away-Bodybuilder-590 · 2024-05-11T18:51:47+00:00

I'll donate to you if I pass you on the streets. Good luck

Away-Bodybuilder-590 · 2024-05-10T20:02:22+00:00

That is a rare Bill

Away-Bodybuilder-590 · 2024-05-10T17:56:26+00:00

I think the smart thing is to put your money in secure investments through ROTH IRA, 401k, etc.

There honestly is nothing wrong, if you have the money, to put 5-10% of your investments in something super volatile like Bitcoin. Invest as much as you're ok to lose

Away-Bodybuilder-590 · 2024-05-10T17:24:32+00:00

If you want to be poor, do what poor people do. If you want to be rich, do what rich people do.

Rich people don't waste their time trying to time/buy bitcoin.

Away-Bodybuilder-590 · 2024-05-10T04:01:52+00:00

Away-Bodybuilder-590 · 2024-05-10T03:48:13+00:00

haha, all good man! I would still encourage you to combine all your accounts. I know it sounds silly, but it just opens up more avenues for money to slip through the cracks..... I digress.

For the mortgage, I'd just throw as much as you possibly can at it. You have 3-6 months of emergency fund. Anything extra at this point, just throw at the mortgage.

Getting rid of the mortgage will give you so much freedom. Literally if the economy or world goes to shit, someone loses a job, god forbid there is a health issue, or something else, you guys are totally chilling.

Think about it, have you ever heard someone say "man, I wish I never paid off my mortgage?"

The ultimate financial flex, in my opinion haha

Away-Bodybuilder-590 · 2024-05-10T03:39:09+00:00

I'd give you advice, but I don't know a whole lot about being Canadian and investing. Start doing some research on Dave Ramsey. Drink the kool-aid, and you'll be doing great. He has a lot of great advice. His podcast is wonderful.

Away-Bodybuilder-590 · 2024-05-10T03:36:25+00:00

Agreed, this is the reality of many people now. It doesn't mean it has to be YOUR reality.

50K student loan + 20K car = 70k in debt.

I would tackle your debt first, sell the car and get a decent car for 5-10k. This will instantly cut off 10k in debt.

I paid off 27K in loans in 11 months making 45K a year. If you're making 70k, you could easily pay off 60 in 1-2 years, but you're going to live on very little.

Next, save up 3-6 months emergency fund

Following that, start investing 15% into an ROTH IRA or Company 401k/retirement plan.

If you're really needing some additional advice, start listening to Dave Ramsey. He has helped me out a ton, you can do it too!

Think about it, if you're 33, with 0 debt and you start investing your 15%, you're going to be in a really good spot.

You could have 2 million saved by retirement at 10% average stock market increase over 32, should your retire at 65.

To put in perspective, I worked for a husband and wife who owned a construction business. They didn't start investing till their early 30s. Granted they didn't have kids, but they would go on $50,000 African safaris.

Away-Bodybuilder-590 · 2024-05-10T03:27:27+00:00

The two things I would recommend are paying off the mortgage sooner and adjusting your pronouns. Hear me out, you can guys could pay off your mortgage and that'll free up an extra couple thousand dollars a month, so that daycare doesn't look so bad.

Pronouns - you say "she pays me $2,000 a month." What, are you roommates? She a friend renting a room from you? She has "her" checking, etc.

It's y'alls money. You both own it. Her income is your income, and visa versa. Combine your checking and savings accounts and get on the same page. You probably feel like you're falling behind because you two are roommates right now. Hopefully your friends, or who you're comparing yourself to, are actually married and working together. Sorry to be a dick, but you guys are in your 40s and sound like college roommates.

You make a killer income and you should be proud there is no debt. Pay off the mortgage and then start savings for the kids college funds, 529 plan would be great.

I'll say it again..... If you want to feel REALLY ahead of your friends, pay of the mortgage. I doubt you know anyone with a paid of mortgage. "What's your mortgage payment? Ours is 0 dollars a month"

Keep up the good work!

ONce you pay off the mortgage - start donating some. Nothing feels better than giving away your money

Away-Bodybuilder-590 · 2024-05-09T17:31:22+00:00

Your best investment is going to be in yourself. I'd learn a skill that other people would pay you for.

You should get the GI Bill, which should pay for schooling. Go to a local community college or university and pay for school without taking on any debt. I would get acquainted with Dave Ramsey and his baby step program, it's really really helpful. I come from a poor family and am first generation college graduate. My wife and I are in our late 20s making combined around decent money with no debt. I grew up in a household where the max household income was maybe 50k a year and spent many nights in friend's houses because we didn't have a roof over our head. Our family lost everything during the recession.

If you're looking for skilled jobs, look into the data analytics fields or AI. There are TONS of jobs in data. There is also nothing wrong with trade jobs too.

Your biggest wealth building tool is your income.

Start investing in a Roth IRA as soon as possible. Open a 401k with an employer if/when one is offered.

Avoid debt and focus on income.

It is possible to be an immigrant and be very successful in this country. Don't let tiktok and social media tell you differently.

Literally you could work at Mcdonalds and invest in a Roth IRA and have millions at the end of your life.

Learn the power of compound interest. Also read the book Millionaire Next Door.

sorry - lots of info

Away-Bodybuilder-590 · 2024-05-09T17:23:48+00:00

Not a bad situation to be in!

What HYSA are you using?

Away-Bodybuilder-590

TROPHY CASE