Search found 564 matches

by MillennialFinance19
Sun Dec 31, 2023 11:26 am
Forum: Personal Finance (Not Investing)
Topic: Share your net worth progression
Replies: 4273
Views: 1072337

Re: Share your net worth progression

MillennialFinance19 wrote: Mon Jan 16, 2023 8:04 am Background: Ages 35/32, both work FT, with one kid in daycare, in a LCOL area. Our total income (varies a little year-to-year) is around $225k. We did have a windfall of $100k from a rental property sale that helped us break the three comma club barrier in 2022. We save an absolute ton and the constant growth is a result of that.

Age 27 2014 IN THE RED
Age 28 2015 $ 69,500
Age 29 2016 $ 109,000
Age 30 2017 $ 172,130
Age 31 2018 $ 268,920
Age 32 2019 $ 406,424
Age 33 2020 $ 655,635
Age 34 2021 $ 927,242
Age 35 2022 $ 1,121,200
Pretty excited to update for 2023 (my favorite task of the year).

Age 36 2023 $1,407,646
Also hit $750k in the market for the first time.

Happy New Year!
by MillennialFinance19
Fri Dec 08, 2023 5:47 am
Forum: Personal Finance (Not Investing)
Topic: Refinance plan for recent homebuyers
Replies: 11
Views: 1888

Re: Refinance plan for recent homebuyers

Just do a free refinance with a different lender. Don't pay anything out of pocket. Choose a higher interest rate in exchange for the lender credit that would cover the refinancing costs. When the interest rates go down again in the future, you can do another refinance and so on. This way you can ride down the interest rate by refinancing multiple times risk free. This is the exact strategy I used when rates were falling a few years ago. I did 3 zero cost refi's. The beauty of it is if there's no up front cost you can just keep refinancing anytime rates drop a little. Just ask for negative points so you're zero out of pocket. I did 2 free refi’s, on the third I paid 1/4 point but got my rate down to 2.125%. I’m looking good for that decisi...
by MillennialFinance19
Fri Nov 24, 2023 9:04 am
Forum: Personal Finance (Not Investing)
Topic: Paying down car loan
Replies: 36
Views: 4839

Re: Paying down car loan

cbr shadow wrote: Wed Nov 22, 2023 4:28 pm
MillennialFinance19 wrote: Wed Nov 22, 2023 5:57 am It’s hard to say without more context. Is your fairly high NW $1MM or $5MM. If the latter, it doesn’t matter what you do!
Fair point. NW is $1.8M and we're 40 y.o.
I tend to think this is a pretty trivial decision, so you can't really go wrong either way. Doubt either choice makes you sleep less-well at night.
by MillennialFinance19
Wed Nov 22, 2023 5:57 am
Forum: Personal Finance (Not Investing)
Topic: Paying down car loan
Replies: 36
Views: 4839

Re: Paying down car loan

It’s hard to say without more context. Is your fairly high NW $1MM or $5MM. If the latter, it doesn’t matter what you do!
by MillennialFinance19
Wed Sep 20, 2023 6:33 am
Forum: Personal Consumer Issues
Topic: Tell Me About Your Fabulous Stove
Replies: 89
Views: 10006

Re: Tell Me About Your Fabulous Stove

We have a bertazonni and love it. Made in Italy. Has worked flawlessly for 7 years.
by MillennialFinance19
Tue Sep 12, 2023 9:24 am
Forum: Personal Investments
Topic: Thinking of Departing the Formation [Moving to a financial advisor]
Replies: 178
Views: 23406

Re: Thinking of Departing the Formation [Moving to a financial advisor]

You may need to go read that little red book of common sense investing stuff again...
by MillennialFinance19
Tue Sep 05, 2023 8:40 pm
Forum: Personal Finance (Not Investing)
Topic: Paying off my mortgage
Replies: 18
Views: 2442

Re: Paying off my mortgage

Pour a glass of your favorite drink!
by MillennialFinance19
Fri Sep 01, 2023 8:45 pm
Forum: Personal Consumer Issues
Topic: What new car to get to replace 2010 Toyota Corolla?
Replies: 123
Views: 9761

Re: What new car to get to replace 2010 Toyota Corolla?

You’re over spending on maintenance.

You may be better off doing no maintenance at all. There’s a chance that Corolla will hit 200k miles with no more oil changes. 😂

On a serious note, change oil every 10,000 miles. Wipers. Washer fluid. Filters. That’s 90% of regular maintenance.
by MillennialFinance19
Sun Aug 27, 2023 5:03 pm
Forum: Personal Consumer Issues
Topic: Car buying help - challenges getting a vehicle at a reasonable price
Replies: 45
Views: 4405

Re: Car buying help - challenges getting a vehicle at a reasonable price

EdNorton wrote: Sun Aug 27, 2023 9:37 am
MillennialFinance19 wrote: Wed Aug 23, 2023 9:09 pm
Hubub wrote: Wed Aug 23, 2023 8:50 pm …but they were asking 6-8% interest with no prepayment for 6 months. So, 60k at 8%....well, that is a lot of interest to deal with, plus it's a hassle, and I don't want to spend hours on financing…
I mean, this is only like $800 in interest. On a $60k purchase that’s not bad if you can get a decent deal.

I also had a co-worker get 4% from a Ford dealer last week, so decent rates are out there. My bank is currently at 4.5%.
Check your math. 8% x $60,000 x (6/12) = $2,400.
:sharebeer
I misread that as 2 months no pre-payment. Whoops 🤦‍♂️
by MillennialFinance19
Fri Aug 25, 2023 2:28 pm
Forum: Personal Consumer Issues
Topic: Rip Van Winkle goes looking for a new car this past week.
Replies: 53
Views: 6818

Re: Rip Van Winkle goes looking for a new car this past week.

Why don’t you try the Lexus RX350, 350h or 500h? Same automaker, but way more luxury.
by MillennialFinance19
Wed Aug 23, 2023 9:09 pm
Forum: Personal Consumer Issues
Topic: Car buying help - challenges getting a vehicle at a reasonable price
Replies: 45
Views: 4405

Re: Car buying help - challenges getting a vehicle at a reasonable price

Hubub wrote: Wed Aug 23, 2023 8:50 pm …but they were asking 6-8% interest with no prepayment for 6 months. So, 60k at 8%....well, that is a lot of interest to deal with, plus it's a hassle, and I don't want to spend hours on financing…
I mean, this is only like $800 in interest. On a $60k purchase that’s not bad if you can get a decent deal.

I also had a co-worker get 4% from a Ford dealer last week, so decent rates are out there. My bank is currently at 4.5%.
by MillennialFinance19
Wed Aug 23, 2023 8:23 pm
Forum: Personal Consumer Issues
Topic: 07 Subaru Forester Misdiagnosed, Almost Junked at 68,000 Miles
Replies: 101
Views: 13805

Re: 07 Subaru Forester Now Worthless Due to Essential Part Discontinuation

Just a quick search 59.00 - try some used ones and a better service person. https://www.ebay.com/itm/256182125530?chn=ps&_trkparms=ispr%3D1&amdata=enc%3A1L8hhl2T_Rxy-8tHXnwgUMA21&norover=1&mkevt=1&mkrid=711-117182-37290-0&mkcid=2&mkscid=101&itemid=256182125530&targetid=1644837435483&device=c&mktype=pla&googleloc=9030322&poi=&campaignid=20387580464&mkgroupid=157178307288&rlsatarget=pla-1644837435483&abcId=9316956&merchantid=137762459&gclid=Cj0KCQjw3JanBhCPARIsAJpXTx4d8hG4V0531xlSesmK1PtIcdHMctXgdJq6WkbxDMsdV0jez3sOW8kaAtd9EALw_wcB Thx for searching. Please check my original post which I just updated with more info, including the actual part #. The ebay part you foun...
by MillennialFinance19
Wed Aug 23, 2023 5:58 pm
Forum: Personal Consumer Issues
Topic: Calling all Boglehead car mechanics
Replies: 37
Views: 3594

Re: Calling all Boglehead car mechanics

I don’t have any specific feedback as I’m not a 350z expert and would be guessing based on my Ford/Chevy/Toyota knowledge. With that said, try to figure out how much you’re willing to spend. If it’s over a certain threshold it’s probably not worth repairing. You should think about what that is.
by MillennialFinance19
Tue Aug 22, 2023 6:11 pm
Forum: Personal Finance (Not Investing)
Topic: If you sold a house just to buy another one..... did you really profit?
Replies: 51
Views: 7914

Re: If you sold a house just to buy another one..... did you really profit?

If you don’t like this, you definitely shouldn’t do the math on the rate jump from 3% to 7.5%.
by MillennialFinance19
Mon Aug 21, 2023 6:33 pm
Forum: Personal Consumer Issues
Topic: Website For Swimming Pool Advice?
Replies: 4
Views: 506

Re: Website For Swimming Pool Advice?

jebmke wrote: Mon Aug 21, 2023 4:08 pm maybe this one
https://www.troublefreepool.com/blog/
+1. They’re the pool equivalent to BH in that they avoid snake oil and provide the most simple, cost effective, and data-backed approach to maintaining a pool.
by MillennialFinance19
Mon Aug 21, 2023 6:28 pm
Forum: Personal Investments
Topic: Brand new teacher 403b advice
Replies: 63
Views: 5445

Re: Brand new teacher 403b advice

Personally, I’d go with VTSAX until age 45-50. My wife is a teacher and we may stay in VTSAX for life because of the big pension.
by MillennialFinance19
Sun Aug 20, 2023 9:32 pm
Forum: Personal Investments
Topic: 77, $1,130,000 all in cash(+assets) what should I do?
Replies: 62
Views: 9760

Re: 77, $1,130,000 all in cash(+assets) what should I do?

Unless it’s complete swamp, your timberland in SC is probable worth more than $500k.
by MillennialFinance19
Sun Aug 20, 2023 10:35 am
Forum: Personal Finance (Not Investing)
Topic: Federal Employees, Any Advice?
Replies: 80
Views: 7409

Re: Federal Employees, Any Advice?

I mean, taking a few college classes seems reasonable to get a GS-13, which is clearly a good retirement pay grade. With that said, it sounds like you’re having some regrets over your decision to leave the big private sector salary for the federal job. You should tackle this first.
by MillennialFinance19
Sat Aug 19, 2023 2:06 pm
Forum: Personal Finance (Not Investing)
Topic: Couples. Did you retire at the same, or did you offset retirement years?
Replies: 51
Views: 4183

Re: Couples. Did you retire at the same, or did you offset retirement years?

I haven’t retired, so I can’t speak from actual experience. However, my wife and I plan to retire within 3 months of each other when the time comes.
by MillennialFinance19
Fri Aug 18, 2023 7:56 pm
Forum: Personal Finance (Not Investing)
Topic: Rethinking "Keep Your Car for Ten Years"
Replies: 466
Views: 48780

Re: Rethinking "Keep Your Car for Ten Years"

jebmke wrote: Fri Aug 18, 2023 7:52 pm
I have 130K on and down to 2-3K per year. I probably won't make it to 200K with this car at this rate.
Yeah that’s not a ton. I’m adding about 18k a year give or take. So I know the time is coming.
by MillennialFinance19
Fri Aug 18, 2023 7:49 pm
Forum: Personal Finance (Not Investing)
Topic: When to drop full coverage insurance
Replies: 70
Views: 7419

Re: When to drop full coverage insurance

Background: my wife bought a brand new car and I decided to take her old vehicle. It’s a Toyota with 175k on the clock. Runs great, but is developing some cosmetic issues that I really don’t care too much about. I got to thinking about dropping full coverage (collision and comprehensive) and just carrying liability. The value of the car is ~$10k give or take and I’m adding about 14,000 miles per year. Anyone have a $ value or specific trigger they use to drop full coverage? Any advice would be appreciated. Edited to add: we also have a third vehicle that gets driven once per week. So if you get in an accident and car has more than $10k damage, are you ok incurring a $10k loss? It may be your fault, or it may not be. Some accidents are hard...
by MillennialFinance19
Fri Aug 18, 2023 7:48 pm
Forum: Personal Finance (Not Investing)
Topic: Rethinking "Keep Your Car for Ten Years"
Replies: 466
Views: 48780

Re: Rethinking "Keep Your Car for Ten Years"

We haven’t had a payment for quite a while and that’s hard to come off of. With that said, my car is approaching 200k miles and is 11 years old. My wife’s is a 2022 with 13k. We have a junker (old pickup) as a backup driver.

I struggle because I don’t “need” to drive a car with 200,000+ miles. So once I pass that milestone I’ll start casually shopping. This means I’ll be in the market for 5 years until my car has 250,000 miles, give or take 20,000. 😂
by MillennialFinance19
Sun Aug 13, 2023 2:04 pm
Forum: Investing - Theory, News & General
Topic: What motivated you to save money?
Replies: 232
Views: 27995

Re: What motivated you to save money?

Silverado wrote: Sun Aug 13, 2023 1:12 pm
MillennialFinance19 wrote: Sat Aug 12, 2023 6:45 pm Everyday I walk into the office I get a reminder of why I’m saving!
This is really it for me. Some societal evolution that has infected corporate America in my experience makes it a place I want to minimize my time at.
I’d honestly be a fat FIRE movement member but my wife is against retiring before early-mid fifties. Guess I’m gonna keep showing up 😂
by MillennialFinance19
Sun Aug 13, 2023 12:45 pm
Forum: Personal Finance (Not Investing)
Topic: Moving From Midwest To Central Florida - Real Estate
Replies: 33
Views: 4145

Re: Moving From Midwest To Central Florida - Real Estate

Have you been to Orlando? If not, I’d strongly consider taking a weekend trip prior to committing to this. I’m not sure there’s a job offer that could bring me there (fine, CEO of Disney).

The heat is blazing. Traffic terrible. Housing market insane. Not a big fan, and almost all our friends have the same feelings.
by MillennialFinance19
Sun Aug 13, 2023 11:10 am
Forum: Investing - Theory, News & General
Topic: What motivated you to save money?
Replies: 232
Views: 27995

Re: What motivated you to save money?

tvubpwcisla wrote: Sun Aug 13, 2023 10:49 am
MillennialFinance19 wrote: Sat Aug 12, 2023 6:45 pm Everyday I walk into the office I get a reminder of why I’m saving!
Sounds like a case of the Monday's. Be thankful you are not in the basement with your red stapler missing. :)
This made me spit my drink out. Thank you for that!
by MillennialFinance19
Sun Aug 13, 2023 5:48 am
Forum: Personal Finance (Not Investing)
Topic: Premium for 2 million umbrella policy
Replies: 128
Views: 19880

Re: Premium for 2 million umbrella policy

Our umbrella is $729 a year for $2M and that includes a rental property, swimming pool, and off road vehicle. No young drivers. I think your quote is definitely competitive.
by MillennialFinance19
Sat Aug 12, 2023 6:48 pm
Forum: Personal Finance (Not Investing)
Topic: Asking again- please just help me with math about a rental
Replies: 49
Views: 4264

Re: Asking again- please just help me with math about a rental

Sho wrote: Sat Aug 12, 2023 10:33 am
KlangFool wrote: Sat Aug 12, 2023 10:30 am OP,

It is very simple.

Sell the house.

You are paying 6% interest on this 400K = 24K per year. You are only getting about 24K per year from renting if there is no vacancy. There is not enough profit margin for keep the house.

KlangFool
That’s what I think, but my spouse is telling that I am not
keeping the appreciation in mind. I think the recent run in prices have clouded the judgement
I think you’re confused about appreciation. After you “depreciate” the rental, this will all be “recaptured” upon the eventual sale, unless a 1031 exchange is conducted. Right now, you have a tax-free gain. Don’t miss the opportunity.
by MillennialFinance19
Sat Aug 12, 2023 6:45 pm
Forum: Investing - Theory, News & General
Topic: What motivated you to save money?
Replies: 232
Views: 27995

Re: What motivated you to save money?

Everyday I walk into the office I get a reminder of why I’m saving!
by MillennialFinance19
Sat Aug 12, 2023 11:44 am
Forum: Personal Finance (Not Investing)
Topic: Advice on family situation: “lazy” brother
Replies: 24
Views: 2230

Re: Advice on family situation: “lazy” brother

Step 1: tell your parents that he’s not their responsibility and he’s certainly not going to be yours later in life.

Step 2: never bring it up again.
by MillennialFinance19
Tue Aug 08, 2023 5:31 pm
Forum: Personal Finance (Not Investing)
Topic: Who is correct ? [Can my cousin retire early?]
Replies: 141
Views: 13057

Re: Who is correct ?

Really? If you can’t retire on $3.9MM with no mortgage at age 54, you’re doing something wrong. Even if he overspends a bit, he can take SS early at 62. But if he’s working PT, that’s very unlikely.
by MillennialFinance19
Tue Aug 08, 2023 5:01 am
Forum: Personal Consumer Issues
Topic: The HVAC sales guy is on his way over...
Replies: 107
Views: 10308

Re: The HVAC sales guy is on his way over...

snackdog wrote: Mon Aug 07, 2023 10:04 pm
MillennialFinance19 wrote: Mon Aug 07, 2023 8:22 pm
Normchad wrote: Mon Aug 07, 2023 8:02 pm
zeldak wrote: Mon Aug 07, 2023 7:52 pm He recommends a 16 SEER 5 ton unit for $18,200
Get more quotes. And if that’s the going price, that’s the going price.
There is exactly a 0% chance that’s the going price. I quoted a 5 ton unit for my 2,500 sqft. shop a few weeks back and it was $10k. That’s a fresh install with no existing infrastructure.
Did that include a new furnace?
It did not.
by MillennialFinance19
Mon Aug 07, 2023 8:22 pm
Forum: Personal Consumer Issues
Topic: The HVAC sales guy is on his way over...
Replies: 107
Views: 10308

Re: The HVAC sales guy is on his way over...

Normchad wrote: Mon Aug 07, 2023 8:02 pm
zeldak wrote: Mon Aug 07, 2023 7:52 pm He recommends a 16 SEER 5 ton unit for $18,200
Get more quotes. And if that’s the going price, that’s the going price.
There is exactly a 0% chance that’s the going price. I quoted a 5 ton unit for my 2,500 sqft. shop a few weeks back and it was $10k. That’s a fresh install with no existing infrastructure.
by MillennialFinance19
Mon Aug 07, 2023 7:59 pm
Forum: Personal Finance (Not Investing)
Topic: Career Regrets
Replies: 114
Views: 15446

Re: Career Regrets

In case you didn’t know, scout snipers are Marines and the scout sniper designation has been eliminated as of this year. It’s unfortunate for sure, but what’s done is done.

With that said, you could make way worse decisions than going to officer candidate school IMO.
by MillennialFinance19
Mon Aug 07, 2023 3:53 pm
Forum: Personal Investments
Topic: What is your total accumulation number, how did you come to it. No Judgements!
Replies: 404
Views: 73706

Re: What is your total accumulation number, how did you come to it. No Judgements!

More aggressively does not equal more wisely. My cash flow is totally free to invest - instead of paying a bank payments. I can not find a single example of debt + investing working out well in history. In fact if you read "Devil take the hindmost - a history of financial speculation" you will learn that debt has bankrupted many, many, many clever people over the years. Being debt free brings piece of mind that the leveraged investor will never understand (until its too late). This is called wisdom. Whether you realize it or not, you’re saying that being debt free should be a priority, even if that means paying off an extremely low rate. I’d like to hear your argument for me paying off a 2.125% rate. I paid off a 2.65% mortgage i...
by MillennialFinance19
Sun Aug 06, 2023 6:34 pm
Forum: Personal Consumer Issues
Topic: Help me choose a midsize SUV
Replies: 35
Views: 4565

Re: Help me choose a midsize SUV

OP, from your comments about vehicles you are considering, it seems the third row is a large factor for you. Is this because of storage space needs for your woodworking hobby, or just for the kids you are possibly having in the future? I want a bit more space than a compact SUV and many midsize/full size SUVs feature a third row. If I ever get a third row, I want it to be actually useful for family trips. We live near our parents so it’s not completely impossible to travel with 4 adults + 1 kid in the near future. That said, I also don’t think I should weigh in this hypothetical scenario too much, especially if it means greater cost to own. OP, have you considered a double cab truck, for both kids and carrying lumber? The Toyota Tacoma may...
by MillennialFinance19
Sun Aug 06, 2023 10:49 am
Forum: Personal Investments
Topic: What is your total accumulation number, how did you come to it. No Judgements!
Replies: 404
Views: 73706

Re: What is your total accumulation number, how did you come to it. No Judgements!

I also work for the .gov but my wife does not. I'm 45 years old with a $2.7M net worth. Haven't met too many .gov workers with $10M net worth (could be some large inheritances involved). Normally see this level of wealth (in the 50s) with very high-income professionals (tech) or business owners. Being totally debt free (house and all) has enabled me to invest very aggressively which has paid off over the past ten years. You can do it - just takes hard work and dedication. Having debt would have allowed you to invest more aggressively More aggressively does not equal more wisely. My cash flow is totally free to invest - instead of paying a bank payments. I can not find a single example of debt + investing working out well in history. In fac...
by MillennialFinance19
Sat Aug 05, 2023 7:39 pm
Forum: Personal Investments
Topic: What is your total accumulation number, how did you come to it. No Judgements!
Replies: 404
Views: 73706

Re: What is your total accumulation number, how did you come to it. No Judgements!

My wife will likely get a state pension as she’s a teacher and unlikely to move to private sector at any point. I’m a gov employee but could go private, so we’re saving a ton of money in case that pension isn’t big. Target Invested: $9MM at 57 and 54 Estimated Total NW: $10.5MM Her Pension: $80,000 w/COLA His Pension: $51,000 w/COLA His Social Security: $32,000 @ 62 His VA Payment: $20,000 (current amount) We’re also saving so heavily because my wife can retire at 52. That’s 2+ years ahead of my date. I may want to sign off early when she does and over saving makes that easy. Edit: our annual expenses are ~$75k currently and that includes PT child care for 2. Sometimes this forum is a bit depressing. I'm also in government, as is my wife. ...
by MillennialFinance19
Fri Aug 04, 2023 12:30 pm
Forum: Personal Investments
Topic: What is your total accumulation number, how did you come to it. No Judgements!
Replies: 404
Views: 73706

Re: What is your total accumulation number, how did you come to it. No Judgements!

Sorry, I was trying to be brief but should have elaborated. When we were in our 20's, we bought up all of the land around our house. We later built a road and subdivided it. We ended up selling all of it at a healthy profit. We then bought several rental properties (at least that was the plan) that have since turned into flips. Additionally, we live in a pretty LCOL area even though our median incomes in the area are pretty high. However, the biggest piece is that we discovered the Boglehead way before leaving our 20s, which is probably the biggest help of all. Good for you. But how did you have the conviction to think so big? When the 2009 sub-prime crisis happened: new homes in our subdivision crashed below their asking prices when built...
by MillennialFinance19
Fri Aug 04, 2023 11:39 am
Forum: Personal Investments
Topic: What is your total accumulation number, how did you come to it. No Judgements!
Replies: 404
Views: 73706

Re: What is your total accumulation number, how did you come to it. No Judgements!

Sorry, I was trying to be brief but should have elaborated. When we were in our 20's, we bought up all of the land around our house. We later built a road and subdivided it. We ended up selling all of it at a healthy profit. We then bought several rental properties (at least that was the plan) that have since turned into flips. Additionally, we live in a pretty LCOL area even though our median incomes in the area are pretty high. However, the biggest piece is that we discovered the Boglehead way before leaving our 20s, which is probably the biggest help of all. Good for you. But how did you have the conviction to think so big? When the 2009 sub-prime crisis happened: new homes in our subdivision crashed below their asking prices when built...
by MillennialFinance19
Fri Aug 04, 2023 11:03 am
Forum: Personal Investments
Topic: What is your total accumulation number, how did you come to it. No Judgements!
Replies: 404
Views: 73706

Re: What is your total accumulation number, how did you come to it. No Judgements!

My wife will likely get a state pension as she’s a teacher and unlikely to move to private sector at any point. I’m a gov employee but could go private, so we’re saving a ton of money in case that pension isn’t big. Target Invested: $9MM at 57 and 54 Estimated Total NW: $10.5MM Her Pension: $80,000 w/COLA His Pension: $51,000 w/COLA His Social Security: $32,000 @ 62 His VA Payment: $20,000 (current amount) We’re also saving so heavily because my wife can retire at 52. That’s 2+ years ahead of my date. I may want to sign off early when she does and over saving makes that easy. Edit: our annual expenses are ~$75k currently and that includes PT child care for 2. Sometimes this forum is a bit depressing. I'm also in government, as is my wife. ...
by MillennialFinance19
Fri Aug 04, 2023 10:45 am
Forum: Personal Investments
Topic: What is your total accumulation number, how did you come to it. No Judgements!
Replies: 404
Views: 73706

Re: What is your total accumulation number, how did you come to it. No Judgements!

My wife will likely get a state pension as she’s a teacher and unlikely to move to private sector at any point. I’m a gov employee but could go private, so we’re saving a ton of money in case that pension isn’t big. Target Invested: $9MM at 57 and 54 Estimated Total NW: $10.5MM Her Pension: $80,000 w/COLA His Pension: $51,000 w/COLA His Social Security: $32,000 @ 62 His VA Payment: $20,000 (current amount) We’re also saving so heavily because my wife can retire at 52. That’s 2+ years ahead of my date. I may want to sign off early when she does and over saving makes that easy. Edit: our annual expenses are ~$75k currently and that includes PT child care for 2. Sometimes this forum is a bit depressing. I'm also in government, as is my wife. ...
by MillennialFinance19
Fri Aug 04, 2023 10:41 am
Forum: Personal Investments
Topic: What is your total accumulation number, how did you come to it. No Judgements!
Replies: 404
Views: 73706

Re: What is your total accumulation number, how did you come to it. No Judgements!

My wife will likely get a state pension as she’s a teacher and unlikely to move to private sector at any point. I’m a gov employee but could go private, so we’re saving a ton of money in case that pension isn’t big. Target Invested: $9MM at 57 and 54 Estimated Total NW: $10.5MM Her Pension: $80,000 w/COLA His Pension: $51,000 w/COLA His Social Security: $32,000 @ 62 His VA Payment: $20,000 (current amount) We’re also saving so heavily because my wife can retire at 52. That’s 2+ years ahead of my date. I may want to sign off early when she does and over saving makes that easy. Edit: our annual expenses are ~$75k currently and that includes PT child care for 2. Congrats MF19!! Just a curious side question as your accumulation is very impress...
by MillennialFinance19
Fri Aug 04, 2023 7:42 am
Forum: Personal Investments
Topic: What is your total accumulation number, how did you come to it. No Judgements!
Replies: 404
Views: 73706

Re: What is your total accumulation number, how did you come to it. No Judgements!

My wife will likely get a state pension as she’s a teacher and unlikely to move to private sector at any point. I’m a gov employee but could go private, so we’re saving a ton of money in case that pension isn’t big.

Target Invested: $9MM at 57 and 54
Estimated Total NW: $10.5MM
Her Pension: $80,000 w/COLA
His Pension: $51,000 w/COLA
His Social Security: $32,000 @ 62
His VA Payment: $20,000 (current amount)

We’re also saving so heavily because my wife can retire at 52. That’s 2+ years ahead of my date. I may want to sign off early when she does and over saving makes that easy.

Edit: our annual expenses are ~$75k currently and that includes PT child care for 2.
by MillennialFinance19
Wed Aug 02, 2023 1:14 pm
Forum: Personal Consumer Issues
Topic: Best Purchase < $1000?
Replies: 231
Views: 28459

Re: Best Purchase < $1000?

TinyHouse wrote: Mon Jul 31, 2023 10:55 pm
MillennialFinance19 wrote: Sun Jul 30, 2023 5:52 am - bundle of Milwaukee tools
- iPhone
- commercial weed eater w/handlebars (back saver!)
- Glock 19 (everyday carry pistol)
Fellow G19 edc’er ❤️

Gen3? Optic or irons?
I was waiting for someone to ask… 😂

G19 - $450 a while ago

Accessories - $900 (holster, slide cut, RMR, and light).
by MillennialFinance19
Wed Aug 02, 2023 1:11 pm
Forum: Personal Consumer Issues
Topic: Sports with the least commitments for kids?
Replies: 149
Views: 11281

Re: Sports with the least commitments for kids?

Our son (6) plays ice hockey 2x per week, 45 mins each. This is in a developmental program, as USA Hockey is highly structured. He loves it, and the time required will gradually increase. It’s also very expensive.

4 year old daughter does dance 1x per week with a recital in the spring. Really low time commitment.

Just giving my $.02.
by MillennialFinance19
Sun Jul 30, 2023 5:52 am
Forum: Personal Consumer Issues
Topic: Best Purchase < $1000?
Replies: 231
Views: 28459

Re: Best Purchase < $1000?

- bundle of Milwaukee tools
- iPhone
- commercial weed eater w/handlebars (back saver!)
- Glock 19 (everyday carry pistol)
by MillennialFinance19
Wed Jul 26, 2023 6:07 pm
Forum: Personal Finance (Not Investing)
Topic: KlangFools How Much House Formula
Replies: 145
Views: 12958

Re: KlangFools How Much House Formula

Pdxnative wrote: Wed Jul 26, 2023 5:50 pm Most people I know bought when they were just starting to save significant amounts, froze their housing costs, realized significant appreciation while a larger and larger portion of their income went to savings every year. Seems like a good formula for most.
This is a great point. We built a slightly excessive home for our area in 2015 right as our incomes and savings rates were increasing. Today, our mortgage is nearly identical to the 2015 amount with a locked 2.125% rate. In essence, building our dream home eliminated a huge personal finance variable.
by MillennialFinance19
Mon Jul 24, 2023 7:06 pm
Forum: Personal Consumer Issues
Topic: HVAC Condensate Drain Line partially covered in concrete pour
Replies: 91
Views: 7133

Re: HVAC Condensate Drain Line partially covered in concrete pour

Does that condensate like go straight out of the house behind the water heater?
by MillennialFinance19
Sat Jul 22, 2023 2:01 pm
Forum: Personal Consumer Issues
Topic: Keeping discreet about net worth after house purchase
Replies: 50
Views: 4366

Re: Keeping discreet about net worth after house purchase

TomatoTomahto wrote: Sat Jul 22, 2023 9:17 am
MillennialFinance19 wrote: Sat Jul 22, 2023 8:57 am I can’t recall ever hearing anyone say “do you have a mortgage?” or “did you buy this house in cash?” in my life. You’re overthinking this.
I agree, with the exception being that since everyone knows mortgage rates are very volatile lately, OP might get some curious but well intentioned questions.

Good point. They could catch a “wow, you’re comfortable with paying 7% interest on this thing???” statement.
by MillennialFinance19
Sat Jul 22, 2023 8:57 am
Forum: Personal Consumer Issues
Topic: Keeping discreet about net worth after house purchase
Replies: 50
Views: 4366

Re: Keeping discreet about net worth after house purchase

I can’t recall ever hearing anyone say “do you have a mortgage?” or “did you buy this house in cash?” in my life. You’re overthinking this.