@theficouple
Sometimes I feel bad for you guys. Sitting around cultivating takes to engage and annoy people but not wealthy enough to walk away from it
🚨🚨 Breaking News Alert 🚨🚨
My wife and I have just joined the 2 comma club.
Millionaires 💵💰
Started the journey individually 15 years ago.
Joined forces in 2017
Never quit, keep hammering and stay humble.
Thread with more to come.
Ask me anything.
Can we just stop it with these tweets? It's completely fine to see the value in a reliable safe car but to equate it with being a "dream" is just downright silly and quite frankly sad.
2021 Networth Update!💰🚨
$1,371,500.00 💥💥💥
The Market blessed us with another awesome year and we wound up increasing our networth by $343,500.00 or 33%.
Hopefully the market run continues and we can inch closer to our goal of 2M by the end of 2023.
Hot take - Children over 21 should pay a portion of housing expenses if living with parents once they either graduate college or start working a job.
The amount does not necessarily need to be an even division but the principal is an important one.
Breakdown of assets
No debt as mortgage is accounted for.
I know 401k is close to 60% but it is what it is 🤷
Cash is somewhat high but yielding over 5%.
Still need to work another 15 years.
Really want to work on my diet.
Let's talk staple nutitional meals/ food if you're shoping.
1. Eggs
2. Chicken Breast
3. Brown Rice
4. Broccoli
5. Bananas
6. Whey protein / bars
7. Ground Turkey
8. Yams
9. Wheat Bread
10. Beef Jerky
11. Milk
What else am I missing?
Our 2021 Investing Summary 💰
2 maxed 401ks = $39,000.00
2 maxed Roth IRA - $12,000.00
Brokerage Accounts - $42,000.00
401 Match - $11,000.00
Grand total of
$104,000.00
More than we have ever contributed.
So thankful for continued stable employment!
I'm not going to be that guy and say this is the kind of market where fortunes are made.
This is the kind of market that sucks to watch. Just ride it out folks. Stick to your individual investment plan.
The most cringe LinkedIn post is the "So excited to be back in the office for the first time in 2 years" post.
You're excitement is going to wear off quickly...lol
We are buying a new car 🚗
A few reasons why this is the right move for us.
Paying Cash 💸
Better safety features
More cargo room for our family
Replacing a 9 year old vehicle
I realize buying automobiles is heavily critiqued on money Twitter but it makes sense for us.
I have a hard time taking investing wisdom from ppl under 30.
Maybe that is in part due to being 40, maybe it is in part due to some of the cringy takes you see on here.
Unpopular opinion
You're better off buying more expensive clothing.
They last longer and look better.
Thr key is knowing how much you need. Usually it's not as much as you think.
A few nice clothing items go a long way.
I'm talking stuff like
@lululemon
or 7 jeans.
Well here's how our 2022 went. After a crazy bull run the bear finally struck and our networth dropped 141k or apox 10%. While the drop is never pleasant we welcomed a beautiful baby into the world, remained employed and experienced some awesome life moments. It's just 💰
I have my first in person interview in nearly 10 years for an opportunity that could 1.5x my total compensation.
I'm meeting with 8 individuals over the course of 4 hours.
This is going to be an interesting experience.
Any tips for interviewing with so many individuals?
I worked at an employer from 2014-2018.
During that time I maxed my 401k and received a 8% match on contributions.
The account is now worth 275k.
If it grows at 8% over the next 20 years it will be worth 1.28 Million.
75k of my earning will balloon to
1.28M!
The way I read it, you can essentially set your kids up with a 35k roth ira when they turn 18 with this new 529 provision.
With compound growth, this 35k could be worth 1 million when they turn 68 (assuming 7% annual growth) with zero taxes due.
Snap just reminded me 4 years ago I was driving 40 miles to an employer where I was earning 20% less than I do today. Since then I've jumped twice and now have a 1 mile commute with wfh 4 days a week.
Lots can change in 4 years folks!
Our portfolio has doubled in the past four years
Jan 2020 - $667,000.00
Jan 2024 - $1,400,000.00
This was achieved through. a combination of steady contributions through 2 employer 401ks with match and maxed out Roth IRAs each year PLUS a return on investment of 14% via s&p
After crunching some numbers between taxes and childcare costs, a parent staying home does not seem to be as large of a financial hit as one may think.
Our Networth grew more in the last two years than it did in the first 14 years.
Jan 2020 - 780k
Jan 2022 - 1.32M
A few years "in a raging bull market" can move the needle quite a bit!
A Million Dollar networth for someone in their 30s places them in the top 5% of their age group.
By 65, a million places you in the top 20% of your age group.
Both are very impressive, but begs the question, where will 1M place the 30 somethings in 30 years?
I dont understand the psychology of paying off your home argument.
Wouldn't the psychology of having those funds in an account that is more liquid and with more potential to grow be a better feeling?
I feel pretty bad for people who are convinced by 30 that they find zero gratification through work/career.
Work is not all gumdrops and rainbows, but it can also spark a certain amount of satisfaction and self discovery.
A 51 year old with 10MM portfolio would have had to only contribute 38k consistently over the past 30 years to reach this milestone.
The market returned 12% over this time period compounding their 1.14 million in contributions to 10 million!
If you spend over 3k a year at Costco, the Executive Membership will bring you enough back in 2% cash to offset your Membership enough to make it worth while.
It's Jan 4th and companies like Salesforce and Amazon have allready announced thousands of layoffs.
Excuse my French but this year is going to be a fucking doozey.
It took my wife and I 12 years to reach a net worth of 600k.
That was 5 years ago
We’ve added a million since then.
Compound interest really is powerful. Keep pounding
With the market down over 10% ytd, I would imagine it would create much less of a demand on "investing ebooks".
Hard to convince newbies to invest in a bear market.
For the younger folks who have not experienced a bear market, be careful rooting for one.
The labor conditions change drastically in bear markets and you'll be more concerned with keeping your job than buying the dip.
The 401k will make more people wealthy than almost any other investment vehicle of all time, yet some will poke holes and try to say taxable is better. 🤣🤣🤣🤷♂️🤷♂️🤷♂️
We spend almost 110k last year as a family of 2. 🤦♂️🤦♂️🤦♂️
We still kept a savings rate of over 20% and grew our networth by over 300k.
Do any of y'all track yearly spending?
It was an eye opener for sure.
Enough with the "great opportunity" narrative to spin this shitty market into something postive. It is what it is, we will keep investing the same as bull markets, so long as we remain employed 🤞
368k invested over 30 years at 8% rate of return yields 3.7 million.
368k invested over the same time period with a 10% return yields almost double!!! (6.4 million)
A few percent can make a huge difference over time.
I think early retirement is over glorified but that's my personal opinion.
Learn to appreciate everyone views work differently and there is not necessarily one right or wrong way to navigate this phase of your life.