Yea a turf war between those who own houses and those who think renting is a get rich quick scheme
25 yrs old
30 yrs old
35 yrs old
40 yrs old
45 yrs old
50 yrs old
55 yrs old
60 yrs old or never
Yea a turf war between those who own houses and those who think renting is a get rich quick scheme
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote
Also a point of contention on this forum in the past is whether it's personal assets or combined with spouse.
Originally posted by max_boost
Hey baller, any problem money can solve is no problem at all. Don't sweat it.
there are no such thing as 'personal assets' when you're married.
for those interested in FIRE, read http://www.mrmoneymustache.com/
reading some of his stuff will change how you think. and if you're not into reading, he's got a sort of 'TED Talk' from a conference he spoke at: https://vimeo.com/183016901
Sure there is... but if you insist that there isn't, then should the threshold be $2MM for a married couple to participate in this measuring contest? or is it still $1MM?Originally posted by timdog
there are no such thing as 'personal assets' when you're married.
Originally posted by max_boost
Hey baller, any problem money can solve is no problem at all. Don't sweat it.
Depends on how many dicks the couple has
Originally posted by Thales of Miletus
If you think I have been trying to present myself as intellectually superior, then you truly are a dimwit.
Originally posted by Toma
fact.This quote is hidden because you are ignoring this member. Show Quote
If someone needs to make this distinction then they're not "rich". $500K house with no mortgage and $500 in liquid assets is by no means wealthy. $1 million house with no liquid assets you're in over your head.Originally posted by Pacman
Are you including house equity? There always seems to be a turf war on the financial forums. Some say the house should be included, others say it's strictly investible assets.
Home equity should be calculated into your overall net worth but financial freedom/"wealthiness" comes from having liquid/investment assets.
$1MM for a single person is not the same as $2MM for a couple. not even close. anyone that lives with their significant other knows that costs go down dramatically when you are partnered up. I'd argue it would be something like $1.3 to $1.5MM for a coupleOriginally posted by Strider
Sure there is... but if you insist that there isn't, then should the threshold be $2MM for a married couple to participate in this measuring contest? or is it still $1MM?
lol probably never. If I do hit it, it wouldn't mean much either cuz inflation haha
Unless I can somehow fake my death and collect my life insurance (500k) or pull a kphmph and win some sort of lotto haha
I think 5 years ago I had an outside shot at it but it would have required me to be disciplined and sticking with my plan of heavy investing but I couldn't go through with it (too emotional of an investor) and the gf did a truly tremendous outstanding amazing job in shopping/spending lol
These days im closer to 600 and with a shitty economy lol you guys tell me how to get the other 400 in a reasonable time frame lol all on black? Haha
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100
I put the house and most of our other assets into my wife's name. Double whammy.
In terms of FIRE calculations, owning a house impacts the calculation by reducing your anticipated yearly needs; therefore reducing your "number". I liked the blog milliondollarjourney as it is Canadian and realistic. Aside from him living in the maritimes and the associated cheap housing. His goal was to hit it at 35 and he was successful. Now his goal is to get 60g a year in dividend as he is rapidly approaching that. It's a great blog (not as good these days) and its not as extreme or annoying as MMM. MMM has great info too (early blog days) but comes off so arrogant now that I cant stand it anymore.
My networth took a hit because I bought my final home in 2014, so in my networth numbers for end of 2016 calc I took a 100g off purchase price for now.
I take networth as a couple and my "number" is as a couple too.
Originally posted by NoPulp
Whenever I find a rich wife.
^^ Finally we agree on taste. I love her
Way better than your crush on Arlene
Back on topic: Likely 35, realistically. But the plan is 30 assuming things go 100% to plan, which is unlikely. But that's what the question asked :P
Last edited by Disoblige; 02-02-2017 at 10:54 AM.
I would disagree, I'm happy with one or two pieces of furniture and several derelict vehicles around the yard.Originally posted by timdog
$1MM for a single person is not the same as $2MM for a couple. not even close. anyone that lives with their significant other knows that costs go down dramatically when you are partnered up. I'd argue it would be something like $1.3 to $1.5MM for a couple
She wants a fully furnished house and working vehicles so my expenses shot through the roof.
I was doing good until I had 2 kids, and now we have accident on the way too. Haha
Would have been probably 40 but now it's likely to be 50. I don't really worry about money and if I'm going to have it in the future, I just keep plugging away with my savings and paying my house off as quick as I can.
But her expenses have been decreased, so your average is still down?Originally posted by J-hop
I would disagree, I'm happy with one or two pieces of furniture and several derelict vehicles around the yard.
She wants a fully furnished house and working vehicles so my expenses shot through the roof.
But that's females for you, mine always tries to spend more than she makes... which really makes the $1mm mark even more impressive
Hobbies (cars/other fun shit), girlfriend/wife, and kids will drastically change your perspective and timing of attaining certain wealth hahaOriginally posted by max_boost
I think 5 years ago I had an outside shot at it but it would have required me to be disciplined and sticking with my plan of heavy investing but I couldn't go through with it (too emotional of an investor) and the gf did a truly tremendous outstanding amazing job in shopping/spending lol
Exactly lol and IMO cash flow is always king. I feel richer having money flowing in vs being stagnant but have 500k to 1mill in the bank. it's a psychological thing who knows.Originally posted by 88CRX
Hobbies (cars/other fun shit), girlfriend/wife, and kids will drastically change your perspective and timing of attaining certain wealth haha
So with that said, life is about living. Vacations, cars, trips, drugs & alcohol, having a good time haha
I am user #49Originally posted by rage2
Shit, there's only 49 users here, I doubt we'll even break 100
LOL, 1 million sounds pretty damn cheap to me. Is this not including any drinks or something?
Are you guys all students on a budget or something?
Just for youOriginally posted by Disoblige
^^ Finally we agree on taste. I love her
Way better than your crush on Arlene
Back on topic: Likely 35, realistically. But the plan is 30 assuming things go 100% to plan, which is unlikely. But that's what the question asked :P
What's the point of chasing 1MM when inflation rate devalues it haha.
Hmm, those jeans make her look fat though. Not the best pic.Originally posted by flipstah
Just for you