NT: Official Personal Finances Thread

[sneakaprince]

Bring home a lil over 4k a month (I'm 26)

Just copped a new crib (duplex) as long as I have a tennant I can save roughly 2000 a month. Without a tenant I'm looking at 1500.

Was saving 2500 a month prior tho.... I really try not to go outside my budget.

Just picked up a job at jcrew so I will prolly make closer to 4500 a month soon... I'm using that money to keep up with my hobbies

 

[Xennial]

After taxes I get a little over 4k a month, kick in $500 for bills since my daughter's mother pays the bulk of it.  $1,000 a month goes to eating out/coffee etc.  Roughly another $500 on alcohol.  Between using uber/lyft other services, there's just some left saved for music festivals and traveling that wipes out the rest.  I do manage to have a bit of a rainy day fund still

 

[yanky]

I save around $500.

I stop buying shoes. I want to save more.

I am paying a mortgage though.....


Side note: My wife needs to chill with this renovation project :x .

She's looking at a $6000 front door.

What's that door made out of? Hand carved wood from Asia or something? Sheesh

 

[usabasketball08]

About $3600-4000 a month after taxes. Try to save $1K~ but I'm working on paying down debt so it's been lower than that.

For 22 years old I think that's ok. Hate that I ran up my CC's though.

 

[trappstar]

Bout 10 after taxes right now. I save about 6.5-7 a month. Hope to leave this hectic law firm life soon. Just need to save another couple of years for a solid foundation.

 

[proper english]

Just picked up a job at jcrew so I will prolly make closer to 4500 a month soon... I'm using that money to keep up with my hobbies

i save around 2k a month depending on if i go on any trips.

really considering on getting a side gig too.. nothing srs, maybe a few hours at a local 24hr fitness.. free gym pass = more money saved.

 

[PRIME]

View media item 1544796

 

[copped]

damn some of you dudes working too hard man..

2-3 jobs...and all that to save for some future that is not guaranteed?


retire by 55? i'm trying to retire by 35....

retirement doesn't mean a few mill in the bank, house paid off, kids colleges paid...

nah...

retirement to me is at least 2-300k accessible cash...and maybe 2-3 investments bringing me at least 3-4k a month without me working (manage and maybe go in a few hours a week)...and thats all


no dreams of grandeur...live easy, live relaxed, and not over work myself...

i'll probably never buy a house as well....i'll rent and live off of my money rather than throw it in a house and break my back trying to support it...


interest is the biggest scam on earth... also against my beliefs...

 

[Xennial]

damn some of you dudes working too hard man..

2-3 jobs...and all that to save for some future that is not guaranteed?


retire by 55? i'm trying to retire by 35....

retirement doesn't mean a few mill in the bank, house paid off, kids colleges paid...

nah...

retirement to me is at least 2-300k accessible cash...and maybe 2-3 investments bringing me at least 3-4k a month without me working (manage and maybe go in a few hours a week)...and thats all


no dreams of grandeur...live easy, live relaxed, and not over work myself...

i'll probably never buy a house as well....i'll rent and live off of my money rather than throw it in a house and break my back trying to support it...


interest is the biggest scam on earth... also against my beliefs...

300k is only enough to retire in the phillipines or something at 35 yrs old

 

[copped]

300k is only enough to retire in the phillipines or something at 35 yrs old

readingcomprehensionfail

 

[andretti]

"I'm broke baby."

 

[capital sb]

6K a month pre tax income, saving 3K a month right now. Stacking for a house, living really basic right now and rent free

Once I buy the house I will be saving 1.5K a month.

@copped Alot of people don't understand that in retirement it is all about your cash flow and a good amount of money saved up that is continuously being invested. I plan on retiring from the corporate world in about 15 years when I'm around 37-40 years old.

 

[sneakaprince]

6K a month pre tax income, saving 3K a month right now. Stacking for a house, living really basic right now and rent free

Once I buy the house I will be saving 1.5K a month.

@copped
Alot of people don't understand that in retirement it is all about your cash flow and a good amount of money saved up that is continuously being invested. I plan on retiring from the corporate world in about 15 years when I'm around 37-40 years old.

I was like damn 6k a month for a sec but I'm probably not too far away from there before taxes. Props to you on your success though.

I was on the same tip for a good while. I moved home to Wisconsin in July, been staying with mom to stack bread. Closed on my crib last month tho and I def feel GREAT about it.

KEEP Grinding.

 

[fontaine]

damn some of you dudes working too hard man..

2-3 jobs...and all that to save for some future that is not guaranteed?


retire by 55? i'm trying to retire by 35....

retirement doesn't mean a few mill in the bank, house paid off, kids colleges paid...

nah...

retirement to me is at least 2-300k accessible cash...and maybe 2-3 investments bringing me at least 3-4k a month without me working (manage and maybe go in a few hours a week)...and thats all


no dreams of grandeur...live easy, live relaxed, and not over work myself...

i'll probably never buy a house as well....i'll rent and live off of my money rather than throw it in a house and break my back trying to support it...


interest is the biggest scam on earth... also against my beliefs...

How you gonna get there famb? To your 3k of cash flow passive income... what's the plan...?

And the 300k... where would it be sitting at?

 

[capital sb]

How you gonna get there famb? To your 3k of cash flow passive income... what's the plan...?

And the 300k... where would it be sitting at?

LMAO I didn't notice that. If your money isnt growing that 300K means nothing lol. 300K invested into an IRA will go far if you have a good cash flow outside of that money.

@SneakerPrince probably not far, its 4000/mo after tax. Thank man props to you too all we can do is keep grinding.

I can't wait to close on my house. You are living the good life in that duplex great investment

I'm looking to purchase a 2-8 unit property in 2017 for my first real estate investment.

 

[mplsdunk]

damn some of you dudes working too hard man..

2-3 jobs...and all that to save for some future that is not guaranteed?


retire by 55? i'm trying to retire by 35....

retirement doesn't mean a few mill in the bank, house paid off, kids colleges paid...

nah...

retirement to me is at least 2-300k accessible cash...and maybe 2-3 investments bringing me at least 3-4k a month without me working (manage and maybe go in a few hours a week)...and thats all


no dreams of grandeur...live easy, live relaxed, and not over work myself...

i'll probably never buy a house as well....i'll rent and live off of my money rather than throw it in a house and break my back trying to support it...


interest is the biggest scam on earth... also against my beliefs...

How you gonna get there famb? To your 3k of cash flow passive income... what's the plan...?

And the 300k... where would it be sitting at?

Not to mention you use other people's money to invest and damn the interest. Get a crib pay it off live in it while you pay it off for the tax break then rent it out and profit. The cop another and another and another.

@ houses being a money pit. Try and buy anything big with that 300k in a box and no one will touch it either. People don't want your cash. They want money that's clean and they know where you got it.

 

[Xennial]

 

[zapatohead408]

I probably save like 1,500-2k a month but then I spend it.

That's not how saving works.

, I save it then spend it on whatever I've been saving for. my 401K should be kicking in in October and I'm gonna put $6 an hour into that.

 

[capital sb]

@millenial How are houses money pits? Almost all wealthy/rich people have real estate in their portfolio.

 

[johnnyredstorm]

real estate is a tremendous investment if you can afford it.

 

[Xennial]

 
@millenial How are houses money pits? Almost all wealthy/rich people have real estate in their portfolio.

We're talking about the vast majority of people that own 1 property and not real estate moguls.  One girl I went to school with bought a house and already been spending tons on doing kitchen and flooring and chandeliers etc.   She's probably going to look at the $6,000 front doors etc. as well.  It's a money pit for the vast majority of americans

 

[copped]

300k sitting in the bank or under my pillow + 4k coming in clean every month? (mind you the 4k is bare minimum, not going to sit around and watch my money go to zero)...

If I can get to that point where i have that much money on hand and can make 4k + without working from my investments, then why in the world would I want more?

Sorry, some of you guys have been sold the american dream and you fell for it....working like a robot for 30+ years and saving a few millions, and you croak and die... lol if thats you idea of smart money management then good for you guys...me? I want to get to a comfortable place as fast as possible (35 years old), make less but live my life without having to be up for a 9-5 (which I am doing now..)..

best way to achieve success and wealth is to be making money when you are not working...some people just don't have the capacity to do that or the balls to pull the trigger on a venture...

finally the only reason why I wouldn't buy a house is because I wouldn't be dumb enough to drop 5-600k on a house cash...I don't do interest/usury, because I am muslim and its against our faith.


if it wasn't against my faith or my personal beliefs I'd be in it as well...but you have to draw the line somewhere when it comes to personal value/integrity and money..

 

[copped]

Not to mention you use other people's money to invest and damn the interest. Get a crib pay it off live in it while you pay it off for the tax break then rent it out and profit. The cop another and another and another.

@ houses being a money pit. Try and buy anything big with that 300k in a box and no one will touch it either. People don't want your cash. They want money that's clean and they know where you got it.

never took money from the bank nor did I take interest to start my business...

i fronted all 30k, no loans, no credit cards, no line of credits, nothing...

do you know how easy it is to clean 300k? plus its not all in cash anyways...i write myself a check...but lets say it was 300k in a box in bundles of 5s...it will only take a few grand to clean that money....why would I buy anything with 300k? at that point id have 3-4 investments bring me money in...that 300k is to live my life...travel, buy my kids what they want and my wife...as long as the money doesn't dip below 150-200k at all times, from the money coming in...i don't see how my plan is not feasible.

How you gonna get there famb? To your 3k of cash flow passive income... what's the plan...?

And the 300k... where would it be sitting at?

already have 1 business that is bringing me in cash 8k or so a month...i can easily (when I am ready) plug someone in my chair and work in my position, and instead of that 8k i'd bring home 4-5k...i.e. wouldn't get paid for my work hours...

second investment going to be a fast food restaurant...and third might be a taxi plate rented out...

i'm 27 right now, so 35 seems like a good enough goal for me to no longer work 9-5 hours...

 

[letsgetit22]

For dudes saying they make 5-6 k a month and saving 2-3k of that. How?

After taxes, 401k, insurance, money in stock. I bring home around 4k or a little more. If I put 2k of that up, I would need to be living at home rent free. I just want to figure out how to put up at least an extra $500 up a month in savings. Can't afford 2k a month.

 

[plansb]

For dudes saying they make 5-6 k a month and saving 2-3k of that. How?

After taxes, 401k, insurance, money in stock. I bring home around 4k or a little more. If I put 2k of that up, I would need to be living at home rent free. I just want to figure out how to put up at least an extra $500 up a month in savings. Can't afford 2k a month.

I was thinking the same thing, but I live in a pretty expensive area. Watching HGTV I see these people buying nice houses for less than you could even get a half acre lot around here, damn that would be nice.