Reply to I make 250K and I am broke

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Reply to "I make 250K and I am broke"

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[quote=Anonymous]No, I don't get it.  You said you wanted to have cash on reserve (which you seem to have a lot of - Gold Coins 40,000 ; Private Equity Investment 57,500 , 60K cash on hand), but that goes against the other statement you made of "I like to live in the moment". If you live in the moment, why have savings?  You obviously see the value of having cash savings (which I do, too), but is this really for "emergency" cases, or because you just want to have a lot of cash in case you find something huge you want to spend money on?

Cash out the gold coins, or sell some equity investment and pay off your CC debt.  Those are killers b/c of the interest rate.  If you calculate how much you have been paying on interest every month on 33k (depending on your rate), that could be money to pay some other bills.

Why do you need so much cash on hand?   Also, if you can't handle all the payments, sell one of the rentals.  It sucks, and you might think that's a bad investment move for the future, but you clearly are stating that you cannot afford to live the way you are now, so you need to make some hard choices.

I would sell one of the assets to pay the debts (this is a killer) and reduce spending.  Even reducing by just eating out will help you save at least $1k + /month.[/quote]

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