Misc millionaires

[Luc1fer]

#brutal

[TryingBB]

#brutal

Craziness. Should’ve cashed out just 50% and put in safer. No one knows if it’ll double again or go half in the next week or two. It’s madness

[plebmaximus]

#brutal

cash out brah, you’ll still get out with a huge profit

[Luc1fer]

cash out brah, you’ll still get out with a huge profit

Nah

[nunzie16]

Hit $1 million net worth a few months before my 32nd birthday. Currently 33 and have a net worth around $1.4 million.

Comprised of $600k in home equity, $475k in retirement accounts, and $350k of investments. Aiming to be a $5 million by age 40 and $9 million by age 45 at which point I'll probably retire.

[Luc1fer]

Craziness. Should’ve cashed out just 50% and put in safer. No one knows if it’ll double again or go half in the next week or two. It’s madness

cash out brah, you’ll still get out with a huge profit

It's nuts now

[lolatpaniccels]

yes

[Luc1fer]

Fuk you Elon

[TryingBB]

Fuk you Elon

Well I think there were people who told you to cash the fuk out. Atleast cash out 50%.

:-/

[wave_length]

Fuk you Elon

Relax, just a glitch in the matrix.

[Luc1fer]

Relax, just a glitch in the matrix.

Diamond hands son

[Beast92]

Its not worth engaging him. Endless complaining in any thread that touches $.

Anyone that can't make between 1% and 2% per month is:

Trying to rent in a area where the gap between renting and buying is too wide.
Spending WAY too much on the property to begin with.
Spending WAY too much on renovations.
Charging way too little compared to fair market rates.
Likely a combination of these factors.

You are absolutely right about new construction BTW, wish I did that a few years ago but it is what it is. Renovating a disaster is the other way to make a killing. The only really bad investments are the ones where the property is basically ready to go. You are going to be paying what you should be selling for. Anyone that is making less than 1% per month is crazy not to sell.

This is the conversation in question BTW:

the average land lord makes 0.5% a month in Mexico, luxury properties will be lucky to pull in 0.3 or 0.4% a month. There is no tax shelter, a forced income tax of 35% and vat of 16%

Factor in interest rates of 9% and u are desd in Mexico

[wave_length]

Diamond hands son

I know boyo, just kidding.

[Schons]

Just became one at 34

[r32gojirra]

Is 7 figures supposed to be a lot? LOL testi crew

It gets you a gently-used base model Lexus and some bottom shelf tequila champ

[TryingBB]

Are millionaires who made $1 mil networth and counting or are millionaires who make $1 mil a year, every year?

[FrankCostanza]

old enough for kisses not old enough to be the old guy at the club

[ooph]

It gets you a gently-used base model Lexus and some bottom shelf tequila champ

Some tequila I got for my bday lmao.

[wave_length]

Are millionaires who made $1 mil networth and counting or are millionaires who make $1 mil a year, every year?

Networth.

[Luc1fer]

OP are you considering household net worth, which includes your spouse?

No, self-made.

[5x10]

OP are you considering household net worth, which includes your spouse?

At 35 if I'm still single I'll be at about $250k NW.. probably won't reach a million until 40+, assuming I'm single lmao. Hopefully not.

my spouse is a liability

[Harry362]

37 y/o, married

Net worth like $500-550k


My income should go up exponentially next year though when I get my psychiatry cert, gives me ability to make $100+ hour online at home work up to 100 hours a week

[ListenHereBruh]

your literally retarded if you think 1 million isnt alot

[xpin2winx]

your literally retarded if you think 1 million isnt alot

you could take 1 million dollars and put it into a dividend stock like AT&T that pays 6.5% dividends which equals $65,000 per year and retire off that.

[ymer]

you could take 1 million dollars and put it into a dividend stock like AT&T that pays 6.5% dividends which equals $65,000 per year and retire off that.

uh no... real inflation is at least 6%.

After taxes, your dividends are lower than inflation and even if you reinvest 100% of it you will lose money in the long term.

[Duckliver]

you could take 1 million dollars and put it into a dividend stock like AT&T that pays 6.5% dividends which equals $65,000 per year and retire off that.

Would put it in a dividend etf, att pretty good price rn but... all in one basket.


Then again I’m 100% gme atm so I don’t really follow my own advice.

[BulkingIsHard]

you could take 1 million dollars and put it into a dividend stock like AT&T that pays 6.5% dividends which equals $65,000 per year and retire off that.

AT&T is a pretty poor performer in the grand scheme of things and might not be able to outpace inflation.

As for the dividends, might not be the best option considering taxes.

[Luc1fer]

uh no... real inflation is at least 6%.

After taxes, your dividends are lower than inflation and even if you reinvest 100% of it you will lose money in the long term.

What ultimately matters is that you have 25x expenses invested (30x if retiring younger).

This is good: https://www.cfiresim.com/

[arn710]

My wife and I just do very basic investing under the guidance of a financial planner in my family

I'm an engineer. She's an accountant. We live off my salary alone. No kids

We both max our Roth IRA yearly. The company she works for currently doesn't offer a 401k but I max mine yearly. Her entire paycheck goes into an investment account

We haven't had any debt since 2016

[Luc1fer]

My wife and I just do very basic investing under the guidance of a financial planner in my family

I'm an engineer. She's an accountant. We live off my salary alone. No kids

We both max our Roth IRA yearly. The company she works for currently doesn't offer a 401k but I max mine yearly. Her entire paycheck goes into an investment account

We haven't had any debt since 2016

I hope you don't pay this financial planner a percentage of portfolio value.