Anonymous
10/12/2023 09:05
Subject: Re:Future plans and saving goals
OP, maybe you should take a small loan on your second property and do a very light remodel/redecorate. I’m talking paint your house, get a new backsplash and a new couch, maybe some new window treatments, and call it a day. You do want to feel at home where you live, and beauty is important. But furniture decor tile and paint have all gotten way cheaper.
Anonymous
10/11/2023 13:21
Subject: Future plans and saving goals
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:According to this (https://www.investopedia.com/articles/pf/08/ideal-net-worth.asp#toc-the-ideal-number), at your HHI you should have a net worth of $875,000. You have a net worth of ~1.3M. You're doing very well. Stop comparing yourself to people that have trust funds and chill out.
Op here - you are absolutely right it’s just frustrating because are friends that have them sometimes act like they are better than us and that’s annoying
Everyone feels this way. We have a HHI of $400k and pretty strong savings but our daughter’s best friend lives in a huge mansion in Potomac and spends all summer at their enormous beach house. Our kid thinks we’re poor, we try to remind her we’re doing well.
Comparison is the thief of joy.
Do you mind me asking how old you are and how much retirement savings you have with 400k?
I’m 45, DH is 48. We have $1.5m in retirement plus a federal pension.
Anonymous
10/11/2023 13:11
Subject: Future plans and saving goals
Anonymous wrote:Anonymous wrote:According to this (https://www.investopedia.com/articles/pf/08/ideal-net-worth.asp#toc-the-ideal-number), at your HHI you should have a net worth of $875,000. You have a net worth of ~1.3M. You're doing very well. Stop comparing yourself to people that have trust funds and chill out.
Op here - you are absolutely right it’s just frustrating because are friends that have them sometimes act like they are better than us and that’s annoying
You need new friends
Anonymous
10/11/2023 13:07
Subject: Future plans and saving goals
Anonymous wrote:Anonymous wrote:Anonymous wrote:According to this (https://www.investopedia.com/articles/pf/08/ideal-net-worth.asp#toc-the-ideal-number), at your HHI you should have a net worth of $875,000. You have a net worth of ~1.3M. You're doing very well. Stop comparing yourself to people that have trust funds and chill out.
Op here - you are absolutely right it’s just frustrating because are friends that have them sometimes act like they are better than us and that’s annoying
Everyone feels this way. We have a HHI of $400k and pretty strong savings but our daughter’s best friend lives in a huge mansion in Potomac and spends all summer at their enormous beach house. Our kid thinks we’re poor, we try to remind her we’re doing well.
Comparison is the thief of joy.
Do you mind me asking how old you are and how much retirement savings you have with 400k?
Anonymous
10/11/2023 13:07
Subject: Future plans and saving goals
Anonymous wrote:Anonymous wrote:Anonymous wrote:According to this (https://www.investopedia.com/articles/pf/08/ideal-net-worth.asp#toc-the-ideal-number), at your HHI you should have a net worth of $875,000. You have a net worth of ~1.3M. You're doing very well. Stop comparing yourself to people that have trust funds and chill out.
Op here - you are absolutely right it’s just frustrating because are friends that have them sometimes act like they are better than us and that’s annoying
Everyone feels this way. We have a HHI of $400k and pretty strong savings but our daughter’s best friend lives in a huge mansion in Potomac and spends all summer at their enormous beach house. Our kid thinks we’re poor, we try to remind her we’re doing well.
Do you mind me asking how old you are and how much retirement savings you have with 400k?
Comparison is the thief of joy.
Anonymous
10/11/2023 10:35
Subject: Future plans and saving goals
Anonymous wrote:Anonymous wrote:According to this (https://www.investopedia.com/articles/pf/08/ideal-net-worth.asp#toc-the-ideal-number), at your HHI you should have a net worth of $875,000. You have a net worth of ~1.3M. You're doing very well. Stop comparing yourself to people that have trust funds and chill out.
Op here - you are absolutely right it’s just frustrating because are friends that have them sometimes act like they are better than us and that’s annoying
Everyone feels this way. We have a HHI of $400k and pretty strong savings but our daughter’s best friend lives in a huge mansion in Potomac and spends all summer at their enormous beach house. Our kid thinks we’re poor, we try to remind her we’re doing well.
Comparison is the thief of joy.
Anonymous
10/11/2023 10:27
Subject: Re:Future plans and saving goals
Do your friends also have an investment property?
Are they saving for retirement?
Did they take out a home equity line instead of paying for the renovations in cash?
You could try something like YNAB in conjunction with reading I will teach you to be rich by ramit sethi and see if you're happy with how you're spending your money.
Are they saving for retirement?
Did they take out a home equity line instead of paying for the renovations in cash?
You could try something like YNAB in conjunction with reading I will teach you to be rich by ramit sethi and see if you're happy with how you're spending your money.
Anonymous
10/11/2023 10:18
Subject: Re:Future plans and saving goals
Sell the investment property and pay off your mortgage. Then, throw the freed up income at your retirements savings. Start a brokerage account if you hit your limits and put everything you can in that. I'm assuming you have enough in cash to make it through a job loss or emergency, of course.