I have been living like a frugal no fun ******* for over a decade now. BRB 450k saved

[CobraTrapz]

Lol. I make that in a year hahah don't even talk to me bro.




Not srs. Mirin

[x8Pauly8x]

If you died tomorrow, would it have been worth it?

That's probably what his jelly broke as fuk friends must've told him on daily basis...

[dustiestuniform]

Lmao at kunts hating. Bro is 27 and has stashed almost half a million. Meanwhile some of kunts are probably basement dwellers.

[fadetoblack1]

Would you recommend starting a Roth IRA at 19 years old? I'm seriously considering starting now, saving a lot and being financially secure later.

Yes do it now. Time flys man next thing you know 10 years will go by and you will have 100K+ in that thing.

Also when you guys buy stock just buy it and forget about it, buy solid companies that will be around forever with a solid dividend and forget about it.

When I first started investing I would buy and sell stocks and try and make money, bad idea. Just buy and hold.

[MyManDan26]

That is saving money. You put money away into solid long term investments instead of blowing it on dumb sh*t you really don't need.

10 years to get 450k and you think in another 10 years it will be 1 million +?? Yeah you if he does not spend a dime and continues to live like a "no fun ******* for over a decade". You can have 450k alone in a 401k with max contributions per year and company match (if you have a decent enough job).

[TheNewestGuy]

lol. He didn't prove that you don't get rich by saving, how f*cking dumb do you have to be to arrive at that conclusion? He only has 450k BECAUSE he saved. That 450k will be a million+ by the time he's 37 if he's got it invested wisely, and that doesn't include any other sources of income he makes during that decade.

This is not true, or at least the entire picture. If you make $20k a year, you can save as much as possible (and still live with running water, etc) and you won't have $450K in 10 years.

He has $450K due to a combination of thrift AND smart financial decisions and investments. He makes $3,000 a month off of rental properties. That's not saving money, it's making money. It's not something that most people are in a position to do, no matter how much money they save.

[F2.]

you'll be fukking loaded at precisely the time when you can't fully enjoy it

Meh, he could leave what he has right now alone until retirement, and just blow everything he makes from now on.

OP it's a fine line between saving enough, and losing out on life experiences. I'd prob start giving a little more leeway to your spending, because you are set for retirement at this point.

[thr3E6]

$450k is not enough to live on at 27 - rest of you life. You literally proved why you don't get rich by saving.
Now every 100$ you spend if going to 1000$. You're going to be spending that 450k live you will never see another $ in life

[Ratfish]

Meh, he could leave what he has right now alone until retirement, and just blow everything he makes from now on.

OP it's a fine line between saving enough, and losing out on life experiences. I'd prob start giving a little more leeway to your spending, because you are set for retirement at this point.

the $1 beers taste like chit though

what i think opie should do instead is buy a house and then own it outright. you can't invite girls over to your 401k

[MrVeggie]

what i've learned from the pros is that if you have enough money, always buy land/building/real estate.

E.g: Toronto housing prices are insane and they only continue to go up.

[amills2015]

You guys with owning rental properties. How the heck you get started in this? Even if I had the money I wouldn't be sure what to do. There any degrees/schooling or just go in winging it?

[F2.]

the $1 beers taste like chit though

what i think opie should do instead is buy a house and then own it outright. you can't invite girls over to your 401k

OP has a house, several of them. If I happened to be worth 450k at 27 I would for ever blow every penny I make. Compound interest is a hell of a drug of the next 50 years

[BootneckBrah]

Live the dream with 450K?

how?

the car I want costs 490k and the house I want costs $3mil. Im far far away lol

That's not the point I'm making cretinbrah.


Brb saving like a Hebrew and going nc on life at precisely the age you should be living.


Lmao you can always save money *******, you can't get your youth back.

Lmao not having to work @ 60 but rigged up with a piss bag and skin looks like rotten fruit.


Legit waste of life.


If it was a true cool story that is.

[CalvesofGod]

Great job brah, buy yourself something nice

[fadetoblack1]

the $1 beers taste like chit though

what i think opie should do instead is buy a house and then own it outright. you can't invite girls over to your 401k

I own a 3,000 sqft house.

You guys with owning rental properties. How the heck you get started in this? Even if I had the money I wouldn't be sure what to do. There any degrees/schooling or just go in winging it?

I just bought one after reading many threads on biggerpockets.com basically the misc for people who want to buy rental property.

instead of posting 10/10 sloot stories they post 10/10 real estate stories.

[juvefan]

I think theres a fine line somewhere about how much you should save/spend. Cant live through life saving money to use when you're too old to enjoy it. Things like traveling and picking up sloots in your sports car are 1000x more enjoyable in your 20s then in your 50s. But also living paycheck to paycheck in your 60s is not fun.

[walshyn93]

I hate "splurging". I wish i enjoyed it like most people. Ill buy a $60 video game and feel guilty and sell it on ebay after a week.

You sound like Warren Buffet or JD Rockefeller. Both guys who never liked spending money. Both incredibly rich. Most people don't have that self control.

[fadetoblack1]

You sound like Warren Buffet or JD Rockefeller. Both guys who never liked spending money. Both incredibly rich. Most people don't have that self control.

I feel like its in my DNA. But I am not scared to spend money on things I think will make me money. I have spent 40k+ in the past 3 months fixing up a foreclosed house I bought. Going to sell it soon hopefully for a profit.

[StallionRx]

All about balance OP.

Be smart with your money, but also learn to enjoy it too.

[RMHSLB]

your right I couldn't live on 450k forever, im only 27. I still have fun here and there. Have a nice house. But I got a very god deal on it, why i bought it.



i have 8 rental properties. Make about $3k per month on them after all expenses. But they are work, tenants can be tough to deal with. But I am buying more.

Im interested in how you got started in real estate investing.

Would you mind explaining how you went about getting your first deal?

Also are you on biggerpockets?

edit: just read your post above, can you detail out your first REI experience?

[itsbrah]

Do you think it's a good idea to go stock market/real estate with about 20k saved instead of going to college ?

[MyManDan26]

All about balance OP.

Be smart with your money, but also learn to enjoy it too.

Mirin life

[flexnation]

You guys with owning rental properties. How the heck you get started in this? Even if I had the money I wouldn't be sure what to do. There any degrees/schooling or just go in winging it?

Google and reading. srs. If you know someone who owns property, talk to them as well. Read your states landlord/tenant laws as well.

OP, Why not sell your 8 properties and purchase one big 20+ unit apartment building? The net income on that should be pretty damn close to 8k/month which is about your goal.

[amills2015]

I just bought one after reading many threads on biggerpockets.com basically the misc for people who want to buy rental property.

instead of posting 10/10 sloot stories they post 10/10 real estate stories.

Thanks brah, brb reading wish me luck.

[fadetoblack1]

All about balance OP.

Be smart with your money, but also learn to enjoy it too.

Yes I keep trying to tell myself this. My biggest fear in life is being broke. I honestly think about it all the time. So when It comes time to buy a new car or something I always just go for the best value. But eventually I want to have a nice car. Like I said earlier I love cars.

Im interested in how you got started in real estate investing.

Would you mind explaining how you went about getting your first deal?

Also are you on biggerpockets?

My first real estate deal was a 4 unit apartment building when I was 25. Bought it on land contract with 36k down. Cash flows about $1200 per month.

yes bigger pockets is awesome. Listen to their podcasts, very awesome.

[x8Pauly8x]

I'm sure its been asked but what do you do for a living?

Inb4 sell car... (hope not)

[Frank Drebin]

gjdm!

[RMHSLB]

You should realize that you can get your lambo if you really want it and pay for it with the passive income from your homes. You would just need to set a goal to make enough to lease one from the homes you owned. There is a blog post on it at forever jobless. You wouldnt want the lambo forever, from what I hear it gets old. Ill let you know when I have one.

[deadlift_405]

I congratulate you on your achievements. I currently own my own investment property and I hate to doubt you as it sounds like you're sincere, but you'd need a lot of rental properties to pull 3K a month after taxes my friend.

With a rental you are paying usually for the following:

Water
Insurance
Mortgage
Property tax
AND.....taxes on the rental income you generate as it's considered income.

That's not counting whether you include power/ or other utilities.

So how on earth are you pulling 3K in passive income from real estate? Again, not saying you're lying, just stunned as to how much.

[TheNewestGuy]

You wouldnt want the lambo forever, from what I hear it gets old.

all cars get old