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Old 10-12-2014, 09:24 AM   #41
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Old 10-13-2014, 11:41 AM   #42
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Debts … 33k @ 2.99% - car…. I currently have a "beater" work truck I bought new in 2003 and a 2006 truck also purchased new I use as a second family vehicle.
You owe - or, now that you have just paid it off, recently owed - $33,000 on an eight-year-old truck?
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Old 10-13-2014, 01:13 PM   #43
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Unmmmn ...... No. Lol. I have 3 vehicles the 33k was for a car I bought for the wife. Beater truck I take to work, I have another truck I use as another family vehicle and the wife's car. All paid off .
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Old 10-13-2014, 01:30 PM   #44
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Pay off student debt as soon as possible...it's been what 10 years since college? Never let any debt get that old.

LBYM, you and the mrs. make enough to have fun inexpensively.

Track your progress monthly. If things arent improving, adjust.

Be patient...investing takes time.
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Old 10-13-2014, 02:06 PM   #45
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I have 3 vehicles the 33k was for a car I bought for the wife. Beater truck I take to work, I have another truck I use as another family vehicle and the wife's car. All paid off.
Three vehicles is at least one too many for a two-adult family hoping to build wealth and RE. Sell one and put the cash raised towards investments, or apply it towards your debt.
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Old 10-18-2014, 01:35 AM   #46
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We are new to the investment / 401k / financial independence / early retirement scene and would love to hear everyone's advise on how to invest, finances and life.
I didn't see anything about a taxable or IRA account. You NEED investments, badly. This is the time to grow your portfolio and be as aggressive as you can be in that endeavor. It depends on your risk tolerance, but just to ballpark it, you should be at least 50-60% stocks.

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Cash on hand is low due to all of this {sad face}, but we are currently saving 5000 cash every month. We are currently looking into investment accounts to put some of the excess cash, any recommendations?
Target retirement fund if you are less interested in managing money. If you want to get froggy with it, buy the SP500 index and throw out covered calls 2% OTM. If you don't know what that is, you have some reading to do.

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You may find good muni bond funds attractive for some of your taxable savings.
Dear. god. no. When rates rise, you are going to get slaughtered.
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30 , married with two children in South Louisiana
Old 04-01-2015, 10:13 PM   #47
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30 , married with two children in South Louisiana

1 year update

401k #1 44000
401k #2 26600
Roth #1 11600
Roth #2 11100

Cash 15000

Debt
Home 161200

So far not to bad for one year. Several unexpected cost arose as well as a couple of surgeries.
Also took a beating in energy both in investments and at work. [ lesson learned ]

Income is down a bit at 176000.

Goals:
Set up eTrade account
40000 total savings





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Old 04-04-2015, 09:46 AM   #48
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Awesome great job


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Old 04-04-2015, 10:30 PM   #49
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Great job on the income front. My advice is to try live off no more than the lower income and save the other. Then you will never get into what Elizabeth Warren calls the two income trap.
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Old 06-25-2016, 02:19 AM   #50
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30 , married with two children in South Louisiana

2.25 year update 😬

401k 1 76000

401k 2 55000

Roth 1 19000

Roth 2 16000

Debits

Home 149000

Income is at 180000


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Old 06-28-2016, 09:21 AM   #51
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Update on the cash position? What's it currently at? You've got everything covered, and are doing great.
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Old 06-30-2016, 05:36 AM   #52
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Cash is at 41000


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Old 07-05-2016, 03:36 PM   #53
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Well you passed me and my wife up. We are 35. congrats. I have a High COL here up north in MN...and it looks like yall earn a bit more we will clear 152k this year.


Nice work.
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FIRE in 2031 @ 50yrs old (+/- 2yrs) w/ a hypothetical $2.5mil portfolio, 3 appreciated homes worth $1.0mil and rental income to fund my gap years until RMD. Assets will go to an inherited IRA where I plan on watching the investments grow until I die or the trust gets executed.
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