Reply to I make $2.5M and I'm broke

Forum Index » Money and Finances

Reply to "I make $2.5M and I'm broke"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]Just did a retirement calculator and it says I need like 70 million. My net worth is 12 million.

Primary Residence 1,666,000 equity 
Two rental Properties 2,100,000 equity 
Retirement Accounts 4,600,000 
Kids UTMA Accounts 1,000,000 
Gold Coins 400,000 
Private Equity Investment 570,500 
Life Insurance Cash Value 2,000,000 
Cash on Hand 600,000 (after doing some house stuff and probably have another 10,000 on House)

Credit Card Debt 300,000 (Paid Down from 550,000 when sold rental property)

Eat out a lot, two expensive foreign SUVs

Mortgage 33,300/mo Cars 20,000/mo

3 Kids

My parent helps out and pays mortgage and with kids expenses

Mother pays vacations once a year which are extravagant and once not extravagant. I probably pay one vacation of 50K a year.

Projection says I get to like 30 mill and am short 40 Mill at 62. I am mid 40's.

Help. Is it just eating out and Cars? I am embarrassed that my parent pays mortgage and I am still negative every month. Take home 110,000K in two checks after putting 10 K plus in retirement. Probably negative 20-30K every month (hence credit cards). Spend probably $5000 a week min eating out.

Help. Please. I'm drowning in misery.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics