Let's Talk Money

Life goals. ❤️ Love to see it!

 

Same deal with my wife, she’s an RN but hasn’t been working in a few years. I make enough to cover everything, we don’t need her income to live. That said, it sure would be helpful.

She wants a job, loves the work she does, was born to help people. Our only debt is the mortgage. I’ve been learning the stick market with a small account for the last 18 months or so. I’m not banking on it but I’ve been slowly figuring it out. Soon I’ll up the amount I’m playing with, see if I can keep the same mentality and bigger gains.

Time will tell. Financial independence is something I wish I’d caught onto earlier in life. I can’t wait to pay off the house.

 

What crossover did you get? My wife and I are casually looking for a 6+ seater...I'm hoping it doesn't end up being a minivan.

 

40 something, good income. 15 year mortgage with a decent amount of equity, two cars not paid off and won't be for a while , but no open lines greater than 2.5% interest.

I'm comfortable. Angry that I'm not a billionaire, but comfortable.

Trying to decide the better route. Open up the taps towards paying down debt, or go hard towards the toy investment account while the market is down (I'm a buy and hold guy.)

 

Or put it all into crypto and OTC trading and wait.

 

We are smaller people so the VW Tiguan fits us nicely. We also got a roof top carrier for cargo because the Tiguan is not great for space when you fill up 6/7 seats. We have put on 2,500 miles in the two months we have owned it which is about 1500 more miles than we usually do but that’s also because of a family road trip with my sister and her kid. To see the the rest of the family in the mountains. We are getting 22mpg city and 33mpg highway.

 

If you think you can beat 2.9% in market returns put it into the market. If you can't then best to pay down the debt as long as your locked at the 2.9% rate. Current macro-economic conditions might force long holds but it seems that's how you like to trade anyway. DCA some of the big boys for the next few months then just sit on it until 2024.

 

I can relate because gambling once ensnared me as well. The environment and the feelings I had were truly wonderful.

 

I think you quoted someone else's post in with mine- that last line is not from me.

That said, hopefully you're out of it, that's not something that's sustainable long-term. Nor should it be. Good luck. <3

 

what kind of toys?

 

"Toy investment" - meaning a low balance/small potatoes stock trading account.

 

ah i thought you were talking about toy collectibles, which is pretty hot right now.

 

Haha, i gotcha. Nah, I haven't counted my toys on my list of assets.

 

On a long timeline? Absolutely. For a quick day trade? Absolutely not. lol

 

A lot of thoughts through 8 pages. I've probably typed 3 pages myself in replies but keep deleting so as not to climb on my soapbox. I'll boil it down to this:

1. If you're reading this thread and thinking "holy shit I cant save 10% and still live" that's ok. You can save more than you think, but it doesnt have to be 10 right now. Save 2%. Put 1% in your 401k. Do SOMETHING. You'll find what you can cut and in 6 months, do another couple %. Next year you'll get a raise and all of that can go to your savings/investements because you've learned to live on last year's salary. You'll see gains and cutting gets easier.

B. Vehicles are the effing worst. We bought new because the used prices here were insane, but we bought outright because interest rates were even crazier. Why would I pay an extra $6K to use a bank's money, when we could afford it thanks to #1 above.

While I'm bumping a thread...mid 40s, papermill degree in Logistics Management

 

This is a good thread. A lot of good advice here.

I just turned 60 and have been saving for years now. I still worry about retirement but hey, who doesn’t. Surprisingly my stock picks have been doing better than my mutual funds. I’ll consider some of that is due a combination of doing my homework and dumb luck.

I just ordered my first Tacoma. A 2023 TRD Sport. Am super excited to get it, but it still came with sticker shock. Thank goodness I have the funds to pay cash. That being said, I had to dip deeper into my savings than I wanted to. I have no problem building the savings back up, but still a hard pill to swallow.

I recommend paying yourself first and save everything you can. It seems to take forever, but over time you will see results.


On another note; does Styx586 name come from one of my favorite bands?

 

Putting a mandatory 6.5 % into state pension, 200 a pay into deferred comp (401 k roth), plus tinker with 75 to 100 a pay stocks and mutual funds. Both sit idle plus minus 20 to 50 cents movement.

 

I'll contribute to this thread as recently I've become more interested in improving my financial wellbeing (have had a good life, always in good financial shape with very little direction or help from my parents). Also, from a Canadian perspective and the ever increasing cost of living up here (IT'S EXPENSIVE)

(Bit about me and wife) I'm 42, graphic designer, manager and 3gen co-owner of my family business. I bought my house 23 years ago for $100k (still have a small mortgage as I have remortgaged numerous times while being responsible with the equity, most money has gone back into the house). We have 4 times the value in equity, NO additional debt, NEVER missed any bill payment and both our credit is top notch. My wife (35 years old) has no debt other than our tacoma ($10k left) and VERY responsible with money. We have little to no savings, few assets and no kids, just a dog we spare no expense on.

Now that we feel settled post marriage, home is nearly complete with renovations, and we are deciding what's next. We ask ourselves, are we richer than we think?? What can we do with what we have?? Combined in CAN$ we make around $110 -120k/year. Again, not much savings, some retirement savings (little to no interest gained, can that money be put to better use and make more money elsewhere) We started to invest in the stock market and crypto. We use Wealth Simple, and throw about $500-$1000/month into an automated mutual fund and the rest we manually invest with the little knowledge we have. So far not too much gain but we are making money, and as previously stated, START NOW with whatever you can.

We have shifted our mindset, rather than binge watch some show on Apple TV, we research investment opportunities, learn how to invest better, and have started a side hustle with my artistic talent and use of machines at my business. We will then turnaround that additional $$ and invest it. We are young enough and free enough we can take risks so I'd rather invest than save.

Anyways, that's our story and Im finding these threads more engaging and useful. Let's face it the more money we have, the more we can spend on our rigs!