Abreutime
Recycles dryer sheets
- Joined
- Jan 14, 2008
- Messages
- 325
Well, I'm not actually ready to retire, but it's never too early to start dreaming about it! I'm 24, married, homeowner (as of 6 months ago). I just compiled a net worth table a few weeks ago as motivation, and I'll update that monthly for kicks, and so that the wife (and I) can be well informed. (I'll be updating my records; I won't be dropping monthly spammy updates here). Here's a snapshot of where I stand:
Wage: 70k (finance field)
Bonus: ~15k
Poker earnings 2007: 45k
Poker earnings 2008: 15k
Restricted stock: ~30k
Mortgage: 185k
Equity: 25-30k
Student Loans: 40k
CC debt (0%): 9k
April Tax bill due to 2007 poker: ~15-20k
401k: 16.5k (aggressive growth fund)
Roth IRA (Vanguard): 4k (Target 2045 Fund)
Brokerage: 4k
Checking/Saving: ~40k
Poker Sites: 25k
Car: 15k (paid off)
Wife: Law student (1L) on full ride
I've been lucky to earn a good wage and find an interest (poker) that has increased my cash flow instead of the reverse. I am aware of a few other posters who also play poker, and I am aware their reception has been mixed. However, I am asking for advice which may be common for others who have a variable income. I am starting to run into "problems" which aren't really problems at all: Cash management and direction of non-retirement funds. 40k in savings is more than sufficient, since I am barely removed from living as a college student. I am mainly looking (at this board and other personal finance boards) for the best ways to invest in a tax advantaged/disadvantaged balance.
Having bought 1 house, I've been looking around to test the waters of investment properties (both single family and larger properties). I'm still trying to get over that fear, even though I've done a lot of studying up on it. Part of my hesitance involves getting the wife on board with the plan, and my other fear involves investing in places that we can now "afford," which are less desirable areas. I don't want to be a slumlord. Right now, I suppose I am saving up for a larger property in a more desirable area, although it seems like I'm in a holding pattern, building up reserves in ING.
I look forward to participating in the board, and I value all input and criticism!
-Abreutime
Wage: 70k (finance field)
Bonus: ~15k
Poker earnings 2007: 45k
Poker earnings 2008: 15k
Restricted stock: ~30k
Mortgage: 185k
Equity: 25-30k
Student Loans: 40k
CC debt (0%): 9k
April Tax bill due to 2007 poker: ~15-20k
401k: 16.5k (aggressive growth fund)
Roth IRA (Vanguard): 4k (Target 2045 Fund)
Brokerage: 4k
Checking/Saving: ~40k
Poker Sites: 25k
Car: 15k (paid off)
Wife: Law student (1L) on full ride
I've been lucky to earn a good wage and find an interest (poker) that has increased my cash flow instead of the reverse. I am aware of a few other posters who also play poker, and I am aware their reception has been mixed. However, I am asking for advice which may be common for others who have a variable income. I am starting to run into "problems" which aren't really problems at all: Cash management and direction of non-retirement funds. 40k in savings is more than sufficient, since I am barely removed from living as a college student. I am mainly looking (at this board and other personal finance boards) for the best ways to invest in a tax advantaged/disadvantaged balance.
Having bought 1 house, I've been looking around to test the waters of investment properties (both single family and larger properties). I'm still trying to get over that fear, even though I've done a lot of studying up on it. Part of my hesitance involves getting the wife on board with the plan, and my other fear involves investing in places that we can now "afford," which are less desirable areas. I don't want to be a slumlord. Right now, I suppose I am saving up for a larger property in a more desirable area, although it seems like I'm in a holding pattern, building up reserves in ING.
I look forward to participating in the board, and I value all input and criticism!
-Abreutime