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  1. #1
    Registered User liftandsleep30's Avatar
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    what are your current financial plans and goals?

    what are your current financial plans and goals?
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  2. #2
    5'3" 300lbs Fudge Rounds Jasonw1178's Avatar
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    Financial: Get my bills paid. Inflation and all has made me rather pessimistic about anything beyond that. I guess I need to cut expenses and make more money.

    Goals are to just keep on keeping on. It's all about taking the next step. As far as careers good, I've just made a big leap and I'm not sure what it will lead to, but it's a new direction.
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  3. #3
    Registered User Destor's Avatar
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    I would really like to start some type of business actually making something, a physical product of some type. Not really sure what that would look like but am doing everything on a daily basis to control costs, maximize earnings, and put money to work in the interim while looking for those opportunities.

    Flipping houses would be fun too but not sold on that idea
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  4. #4
    Registered User Bingo559's Avatar
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    trying to accumulate enough btc, eth, and sol before the next bullrun with my excess money (Not the money for necessary expenses or even normal stock/etf buys). this is with my gambling stack. hoping i can semi make it next run. meaning that i can just work a part time low stress/profile job for benefits and daily living expenses. And the made it (if i do make it in crypto) stack for mortgage/ongoing investment

    i don't have high hopes in general, but it gives me something to look forward to, be excited about.
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  5. #5
    Registered User Cartiac's Avatar
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    I have spent a lot of time on this and come up with a three phase plan as follows:

    Phase 1 -- Collect underpants

    Phase 2 -- ?

    Phase 3 -- Profit
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  6. #6
    Registered User looxmatter's Avatar
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    Originally Posted by Jasonw1178 View Post
    Financial: Get my bills paid. Inflation and all has made me rather pessimistic about anything beyond that. I guess I need to cut expenses and make more money.

    Goals are to just keep on keeping on. It's all about taking the next step. As far as careers good, I've just made a big leap and I'm not sure what it will lead to, but it's a new direction.
    Being extremely frugal and penny pinching every single purchase.
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  7. #7
    Living in 3023 bsmit107's Avatar
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    -(long term) Pay down mortgage quickly, been in this house for 3 years and already 3 years ahead. Hopefully never sell the house, rent it out when we decide to move. 2.8% IR

    -(long term) $200k in my investment account that I'm managing for my daughter by the time she's 18. Started investing when we found out wife was pregnant and she's 6 months old now (so have been investing for a little over a year) and currently have about $20k in there. Went heavy for the 1st year, plan to invest $10k/year for the next 17 years assuming I'm able to.....just keep DCA'ing into Vanguard ETF's. Want to be able to buy car, pay for college, have money for travel and everything else that comes with having a kid.

    -Maintain $30k-40k in "SHTF" savings account.

    -Max out RothIRA every year for the next 25 years.

    -Buy my wife's grandma's house when inevitably she has to move in with her parents (my wife's parents) due to no longer being able to live alone. Probably within the next 1-2 years. Rent it out. Already talked about it with wife's parents....randomly came up in conversations about the grandma when they said "we dont know what we're going to do with her house" when they move her in.

    *Plans subject to change without notice. lol
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  8. #8
    Registered User looxmatter's Avatar
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    Originally Posted by bsmit107 View Post
    -(long term) Pay down mortgage quickly, been in this house for 3 years and already 3 years ahead. Hopefully never sell the house, rent it out when we decide to move. 2.8% IR

    -(long term) $200k in my investment account that I'm managing for my daughter by the time she's 18. Started investing when we found out wife was pregnant and she's 6 months old now (so have been investing for a little over a year) and currently have about $20k in there. Went heavy for the 1st year, plan to invest $10k/year for the next 17 years assuming I'm able to.....just keep DCA'ing into Vanguard ETF's. Want to be able to buy car, pay for college, have money for travel and everything else that comes with having a kid.

    -Maintain $30k-40k in "SHTF" savings account.

    -Max out RothIRA every year for the next 25 years.

    -Buy my wife's grandma's house when inevitably she has to move in with her parents (my wife's parents) due to no longer being able to live alone. Probably within the next 1-2 years. Rent it out. Already talked about it with wife's parents....randomly came up in conversations about the grandma when they said "we dont know what we're going to do with her house" when they move her in.

    *Plans subject to change without notice. lol
    Solid. Just a word of advice don't put the account in her name. We still don't have a fundamental idea how college financial aid office reacts to/gives out student loans to teenagers who have money in investment accounts like 529 college savings plan etc.

    That being said I don't think retirement accounts are looked at by the financial aid offices so as soon as you start giving your children allowances for chores reward them by putting money into a ROTH IRA and let compounding interest do the rest. Imagine if you add in 6k a year for your child starting at 12/13 years old she will likely have a large retirement account by the time she's 40.
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  9. #9
    Living in 3023 bsmit107's Avatar
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    Originally Posted by looxmatter View Post
    Solid. Just a word of advice don't put the account in her name. We still don't have a fundamental idea how college financial aid office reacts to/gives out student loans to teenagers who have money in investment accounts like 529 college savings plan etc.

    That being said I don't think retirement accounts are looked at by the financial aid offices so as soon as you start giving your children allowances for chores reward them by putting money into a ROTH IRA and let compounding interest do the rest. Imagine if you add in 6k a year for your child starting at 12/13 years old she will likely have a large retirement account by the time she's 40.
    Preciate it man. Yea, I decided not to do a 529 just because I don't like how it's set up for what Im saving for. The account is in my name, managed by me in my Merrill Lynch account....while it fluctuates (obviously) it's up about 8.5% right now....and I'm getting quarterly dividends which only grow as I buy more shares. I figure that money will be used to pay for private school, bedroom/bathroom remodels as she's grows up, buy her a car, college if she chooses (or if it's even relevant in 18 years), travel, blah blah blah. I just want to know I have money for all that and I don't want stipulations on how I can spend my money.

    I have a really good paying job right now (especially for the area I live) and while I can, I want to make sure I save as much as I can......a "great salary" where I live is in the 70-80k/year range and that would be about a $50k/year pay cut for me. My wife and I have pretty much set ourselves up to be able to live off of 1 of our salaries (she makes about 35k less/year than I do) so we are just banking right now outside of travel, paying down the mortgage & projects around the house........and I might have bought my childhood/nostalgic/dream project car that set me back $16k a few months ago. lol.....gotta live though.... Already thinking about selling it to invest that money.
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  10. #10
    Registered User Orracle's Avatar
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    Hopefully retire in the next 4 years
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  11. #11
    Registered User imyourguydavid's Avatar
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    Originally Posted by liftandsleep30 View Post
    what are your current financial plans and goals?
    My financial plans is first to get a job that offers big salary that is enough to pay my bills, give my family they want and my luxury like travelling. The goal is to be financially stable so that I can give what my family wants and can make myself happy.
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  12. #12
    5'3" 300lbs Fudge Rounds Jasonw1178's Avatar
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    Originally Posted by looxmatter View Post
    Being extremely frugal and penny pinching every single purchase.

    I agree with what you are saying but at the same time i don't know about being cheap. Here is an example. My house will probably need a new roof within the next 10 years. A lot of options there. My plan is to go with a metal roof. i do not know if I will go with the metal look, I probably will, but they do have shingle looking metal planks. it cost twice as much to do a metal roof. They do tend to deflect heat but most of all is they are a lot stronger and last a lot longer. They are a lot tougher in bad weather and hail. My home insurance will be a little lower, but most of all I probably won't have issues or have to worry about a little hail storm tearing my roof up. What's more is when I sell it someday it will be a huge selling point and allow me to possibly collect more in the sale of my home. I can think of more options but plenty of times I've seen people who are cheap have it come around and bite them in the long run.
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  13. #13
    Banned IdontLiftMane's Avatar
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    at the moment im learning about investing
    i believe it will take me 12-15 months till im rready to begin investing
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