I'm DROPOUT! I'm married with 2 DS under 3 years of age. I'm a small business owner/entrepreneur and have been since the age of 24.
As the name implies ~ I dropped out of high school. Long story short ~ I got bored and entered the work force immediately. I was a "millionaire" by the age of 25 and unlike others in their twenties, tried to always save atleast half my income.
Being both a market noob and scared (due to parents investments woes) ~ I stayed all cash up until about 2013 when I started to lightly dabble. I set up traditional IRA's that we then backdoored in to Roths and I started researching Index funds religiously. I'm a boglehead @ heart (or I at least like to think I am) so I feel I have a relatively good head on my shoulders.
Our Current Financials:
- 910k in investable assets, invested 10/90 index funds/cash (mix of 3 broad based funds)
- 850k in Property (1 rental, 1 parcel of land, & current home)
- 187k mortgage on rental (15yr note @ 3.5% with 12 years remaining)
- No other debt
- Wife is a SAHM and I bring home approx $500k a year. I own (or am a partner) in 3 different businesses.
- We currently spend well below our means but still too much. We currently spend roughly $100k a year.
Hoping to cut that in half this year as we start trying to live frugally.
Currently DCAing in to my Vanguard Funds. Slowly breaking my tepid attitude towards the markets. As you can tell, we are still incredibly heavy cash.
1) Cut spending
2) Cut spending
3) Move a majority of cash in to taxable accounts.
4) Cut spending
5) Try to get the wife from 75% on board, to 100% on board.
6) Start another business.
7) Spend more time @ home with the family.
8) Figure out exactly what we need to retire in 2025
Hoping to retire at the age of 40 however, I feel like I still have quite a bit of learning, reading, and hardships to overcome before I'm ready.
Thanks for providing such a great place for like minded people to come, meet, learn, and dream!