Hello from Oregon !
Me: Male, age 39, retail manager. Been with my wife nearly 20 years ( shes awesome) A son 11 and daughter 8
My dream started at age 19 for me and my wife when we slammed 15% each for years into our 401k's. They are up to about 650k right now in a widely diversified portfolio in which my employer picks up the admin costs of the funds and has a very generous match program in place. My employer compensates me very fairly at 80k a year.
Layer 2 of the plan came into the fold about 6 years ago. Real estate. We are in a highly appreciated market and have 2 rental homes and a 50% cash stake in a 13,000sf new light industrial building under construction. We recently moved a sizeable portion of our real estate portfolio out of state to a more stable market that has been plugging away at 4.5-5% annually for the last 15 years. That building nets us about 34k annually. Our r/e portfolo including our primary residence is at about 1.9M but the caveat is 400k debt on the primary res and 260k debt on the investment side. Current net postitive cash flow is about 34K (out of are a building) annually but when the industrial building is finished my portion will bring about 24k more net to the bottom line. Next spring we plan to sell the two rentals (about 600k / 260 debt) out of this market into more stable markets. That will buy 4 duplexes in a market that I have already identified and have holdings in. That will gross about 60k annually but I will have to service some debt, and of course there will be expenses as there are with all buildings. Sell our primary residence in about 2 years and walk away with about 350k while retiring the 400k debt. Move to a smaller town cash out a house for 250k put 100k in a mm fund for emergencies and call it quits at age 42 and my wife at 40. At that point we should be at about 100k net (after building maintainence and before taxes) annual income with only the 260k investment debt remaining. Thats a lot more than I need to make me happy so I will probably pay off the 260k debt depending on what the accountant advises.
If you backed out house & car payments we have lived on 2k a month for years.
Me: Male, age 39, retail manager. Been with my wife nearly 20 years ( shes awesome) A son 11 and daughter 8
My dream started at age 19 for me and my wife when we slammed 15% each for years into our 401k's. They are up to about 650k right now in a widely diversified portfolio in which my employer picks up the admin costs of the funds and has a very generous match program in place. My employer compensates me very fairly at 80k a year.
Layer 2 of the plan came into the fold about 6 years ago. Real estate. We are in a highly appreciated market and have 2 rental homes and a 50% cash stake in a 13,000sf new light industrial building under construction. We recently moved a sizeable portion of our real estate portfolio out of state to a more stable market that has been plugging away at 4.5-5% annually for the last 15 years. That building nets us about 34k annually. Our r/e portfolo including our primary residence is at about 1.9M but the caveat is 400k debt on the primary res and 260k debt on the investment side. Current net postitive cash flow is about 34K (out of are a building) annually but when the industrial building is finished my portion will bring about 24k more net to the bottom line. Next spring we plan to sell the two rentals (about 600k / 260 debt) out of this market into more stable markets. That will buy 4 duplexes in a market that I have already identified and have holdings in. That will gross about 60k annually but I will have to service some debt, and of course there will be expenses as there are with all buildings. Sell our primary residence in about 2 years and walk away with about 350k while retiring the 400k debt. Move to a smaller town cash out a house for 250k put 100k in a mm fund for emergencies and call it quits at age 42 and my wife at 40. At that point we should be at about 100k net (after building maintainence and before taxes) annual income with only the 260k investment debt remaining. Thats a lot more than I need to make me happy so I will probably pay off the 260k debt depending on what the accountant advises.
If you backed out house & car payments we have lived on 2k a month for years.