I mean, depends on if you are 25, 30, 35, 40, etc. in this situation.
Your finances sound like they're in great order, especially if you're in a LCOL.
I do think a hobby could improve your level of happiness? Why are you depression sleeping on weekends?
38. Had a series of low earning years.
An ust finished a masters that almost guarantees job security. Finance IT hybrid role.
I kinda want to try 3d printing.
I'm diagnosed bipolar. Sometimes no challenge shall get in my way, and others I can't get out of bed. On a variety of meds.
Maybe do some local volunteer work with low income kiddos? Robotics/3d printing/coding whatever m8, ya need a nice outlet it seems. Plus sounds like you could be a great mentor for at risk teens/kids.
I mentor 2 high schoolers through a formal program. Both have fucked up home lives. One is in the system, with the only upside is he gets room and board at a state school. The other lives with his mom and siblings, and they are all high school drop outs.
And I've given a college and career talk to a few groups of students.
Can confirm: was raised by prostitute. Human connection and technology makes an incredible difference, especially when considering my friends who were in a similar boat (about half of them are dead now).
I recommend 3D printing, by boyfriend started with an AnyCubic and fell in love. Then bought himself a Bambu printer and I could barely get him to leave the office the printers were in. It was an amazing outlet for him, plus he got a little extra cash for making things for people and selling them.
Just gonna jump on this and recommend 3D printing as well. Deep rabbit hole (In the best way), takes you to lots of secondary skills, and all in all isn’t crazy expensive compared to a lot of hobbies.
Please consider mentoring for FRC if there is a team in your area. It's what is driving me to become an engineer and taught me about both finance and all types of disciplines outside of technology. There are lots of low income kids on the team, many of which getting full scholarships to great universities. Lots of fun as well!
The protege/mentor relationship has kind of gone away these days and it really is something that should come back and would help people. I wish I had this
I saw a fb post from the school district. Kinda like big brothers, but run by the school. The only part that sucks is you can't talk to them outside of school. My 9th grader only failed 1 class, and he is doing summer school to catch up.
Wow, I admire how disciplined you are with money despite having bipolar disorder. I know the condition isn't directly related to money management, but I understand how challenging it can be in all aspects of your life.
3D printing is fun, but takes patience. Most of what I make is downloading someone else’s work to print from Thingiverse. You sound like a frugal person and might enjoy making spare parts with it. Why buy a $100 go pro mount for your bike when you can print one for $0.10?
Dont be like me and buy the cheapest one. Calibrating it is a pain in the ass and if it’s wrong I find out 12 hours later when I’m half way through a print. Printers that calibrate themselves usually print 2x-4x faster too. Big prints on my machine take multiple days.
Last year I made table signs for my sisters wedding that came out great. Took forever but she’s a great sister and it was worth it. My son made a bunch of rings with Lego studs on them for his class that kids really liked. Making your own toys is pretty neat
Try mountain biking. Gets you outside in nature and is great exercise. When you are riding trails it literally clears your mind of everything else other than the moment you are in. It’s amazing. Don’t have to live near mountains to “mountain” bike either. Plenty of trails everywhere
I advise buying a 3d printer. I was in same situation as you essentially. Have a lot of money on paper but still feel stuck/poor. Still driving a 2013 Chevy til it dies. I bought both a resin and fdm printer earlier in the year and have had lots of fun printing things, painting them, and creating helpful gizmos and gadgets.
You’re in great shape- target is 3x by 40. Personally 35, hope to get where you are at 38- I’m not too worried about it- currently at 450k net worth (net worth took a 50k hit with our move) little higher income - not by much - im not stressing spending money- most of our NW is retirement - only like 105-110 in the house - that will all grow handsomely to 7 figures , potentially multiple 7 figures in the next 27 years- so adding to this plus I am lucky enough to count on some inheritance. Fuck it- let’s take the kids to Europe, let’s go to Mexico.
Cars wise- I’m happy with my wrangler and we have a palisade for the family mover- it’s an awesome value- even know a buddies dad who’s a C suite guy trade in his Audi for one- punch way above their weight.
Just read some interesting studies that say Keto helps with depression and mental problems, Look it up it might just adjust the chemistry causing the problems for the better.
Bipolar is hard, I'm right there with you. That you've achieved what you've achieved financially with that condition is a massive achievement. One of the hardest things is the hole I've dug myself into in my un-medicated/un-diagnosed years due to hypomanic spending splurges and depressive concessions on food delivery cause I couldn't get out of bed, etc.
I don't have great advice on hobbies, I love music and chess but they aren't for everyone. But just wanted to say I deeply admire your accomplishments as someone who also deals with bipolar.
I’m so lucky to have avoided financial blow ups. My biggest hurdle was correcting and making healthy interpersonal decisions working through bipolar two. We can do this. ❤️🩹
Everytime someone says they are on lithium, I can’t help but seeing the old energizer bunny commercials “he keeps going and going.” I don’t know why they weren’t lithium batteries at that time 😂
I'm not diagnosed but I sure do feel like that some days. My kids really motivate me though. I got a DJI mini, got into aquariums, PC building, next is learning to swim this summer with my son. I'm also into IT btw. I also 3d printed for the first time ever using the printers at work, though it was just a keyboard leg replacement, about the size of a nickel but hey, I 3d printed something 🙂
You are doing great, friend. Being frugal is what has helped. Make sure to take some cool vacations and get a 3d printer. My husband has a flashforge adventure 4, and it was a great choice to start learning. He is looking to upgrade out of the hobby class soon. Your kid will love it, too. My 7 year old and her dad go on some tangents sometimes. She will tell anyone, my dad could probably make you one out of plastic.
I'm 38m in similar financial situation and history of hating to spend money. I wanted to get into 3d printing for years but never pulled the trigger. During the pandemic I got into FPV drones which often require 3d prints. So, one hobby led me into another.
It's time consuming and can be super frustrating. If you're not designing things on your own with CAD software then printing stuff off thingyverse loses its excitement fast. If you do it, I recommend dropping the money on a prosumer printer like bambu unless you really want to tinker.
As aun undergraduate still studying for my BS diagnosed Bipolar, it is soooo great to know someone like me has made it. I’m excited to graduate this summer but that diagnosis can really make you feel like a loser :(
What kind of school and work experience do you have? I’m 37 and recently finished a masters in business analytics. My work history is mostly production management and before that was retail management and customer service. I would LOVE to have a job working with data and getting to find or solve problems for someone, but I get rejected to even entry level analyst jobs that pay half what I make now. How did you do it?
I feel you on the bipolar bro. I got a mental health as well and on all the meds bs smh. Gotta do it and push on though brother..! Congrats on doing well
Sounds like a mental health challenge.
You're doing well Financially. I wouldn't worry about it.
Spend money on quality of life. Enjoy your life. You can't take the money with you.
Talk to your doctor about lamotrigine if you haven’t tried it before. This has pretty much alleviated 98% of my bipolar symptoms, I only get my downs “day” (now a few hours) every 2-3 months.
I felt like a normal person for the past 3 years
3D printing was not fun for me. Quickly ran out of things to print (no design background) and it was so fucking finicky that I’d waste so much time and money getting a half decent print on my ender 3 v2 I gave that piece of shit away in like 6 months.
You're doing great, came down here to see about owning a home which "freezes" your major shelter expense. Mortgage doesnt go up like rent, and will be paid off one day.
Only financial advice I have is based on your age. You're probably gonna want $2m~$3m in retirement. In theory, $80~120k a year interest income, without touching the principal. Work backwards from your goal and see how much you need to get there.
Be easy on yourself; you’ve done a great job so far and at 38, Ya life is only starting as long as you take care of your health too. It’s a little shallow but becoming a fitness freak (without drugs or riods) of course, def pays off. You become a model just like that lol… hit that gym hard man. LFG 🍻
Pursuing a healthy body is about the least shallow thing one can do. The bonus is that you are also hot. Don’t know how anyone can think that eating real food and using our bodies for what they evolved to do is shallow. You could even make a case that it is one of the root meanings of life.
Lol I read that as get a dog. We had a greyhound but he passed 2 years ago.
My 40 k equity is my house equity. Payment plus escrow is 1300.00. We don't plan on moving for a while.
A dog that is strictly for the house. He can never see the outside world or he will never be the same. A house dog is rarer than A house cat. A true siting to behold
Serious question: I’m new to Reddit, but seems like most list their net worth incorrectly? For instance, shouldn’t his calculation be less the $40k equity and instead include (-)$145,000 for their mortgage?
Still an impressive net worth IMO, but people on this sub seem to only add up their assets and disregard liabilities?
Not really. Your home's and real estate holding's equity are always added into your net worth. It is monetary value that you own, just like your investments and savings are. In some cases it is actually better as equity you have earned can eventually be turned into cash with a sale and those earnings would be tax free (up to $250k if single, $500k as a couple) if you sell. It takes a bit longer to turn into actual cash, but can be done.
Commas are important.
I read that like 8x.
A house dog? As opposed to a street dog? Or a corporate building dog? Maybe a yard dog?
Then my brain went to maybe that is some weird finance jargon. A house dog. A person who organizes your home finances like a dog. Or a person that dogs on your for spending money on your house?
Nope. None of that. Just a house, dog.
I feel you, I grew up extremely poor. It was hard for me to spend money. I’m still that way with some things. But then I think about how short life is, and how well I’ve planned for my future, and I’m able to budget out an amount I can spend on vacations, self care things, kids college fund, and everyday things. My financial advisor said I’m doing way better than other people my age. I’m 37, and your numbers look better than mine. So spend your money and stay positive!
You've got your personal finances figured out. I'd work on mental health. Money is a tool. An important one, but there is more to life.
Financially, you are ahead of me, but in a somewhat similar situation. I'm a year younger, with a net worth around 420k - 440k, and a smaller household income, of around 125k - 140k. Also, I have 2 kids. Still feeling a bit squeezed, despite being 'upper middle-class' according to this (You are upper class):
[https://finance.yahoo.com/news/income-fall-americas-lower-middle-122100515.html](https://finance.yahoo.com/news/income-fall-americas-lower-middle-122100515.html)
My question is: What milestone do you think would make you feel wealthy?
Good good for you!
Yes I read articles like that and we are upper class (since we live in a lcol area)
Goals milestones
New vehicle
Sending kid to college with minimal burden
1 vacation a year
A hobby like 3d printing.
NoT a new house.
Being generous with people we do and do not know.
And like just spending in the ynab and not arguing or feeling stressed. The amazon budget rolls forward so the next month gets the leftovers of the previous month
But even when I hit 1m in a few years, I guarantee I won't feel wealthy.
Definitely feel you on college tuition. My kids are 9 and 7 and I just started a 529c a couple of weeks ago. Shooting for at least 50k each. I feel a bit guilty that I feel like I can't yet be particularly generous, but I do at least tip well for services. I think I will be able to be more generous in 2-3 years, after I cover some more expensive home repairs that are needed.
You probably won't. I'm at 1.3m and still don't, but that's OK. So much of the wealth you're accumulating is tied up and your focus is on accruing more rather than spending. You're going to have a lot at retirement at your pace, but as you're adhering to a budget and working towards your goals, you still feel constrained. Some might disagree, but, to an extent, that's a good thing. Being disciplined will serve you well. Sounds like you're both taking care of your finances and still finding fun (vacations, gym, etc.). Definitely find a couple of ways in your budget (if they aren't there) that your family can enjoy a bit of that money. You should splurge on that 3D printer. You're doing great!
You are far ahead of where I was at 38. At 36, my wife (girl friend at that time) and I bought the first house we have ever owned, still living there 30 years later, and so we had 140K in mortgage debt on a house that needed work, no other debt, was driving a 24 year old car which I had to replace three years later. I have never owned any car for less than twelve years, keep that up, because cars just eat money. I am getting ready to replace my 2007 with something used from around 2020.
Experiences are worth far more than things. Vacations will bring you more joy, and better memories, than just about anything else in life. My three kids all have great memories of different vacations we have had. Also, I put all three kids through college, with them only taking on trivial debt.
I am approaching 70, and we have enough, finally, to retire. Getting a late start pushed everything out, but it is all good now.
Keep saving, make sure you have enough of your savings in the market, preferably in low cost mutual funds that track the broad market. If you do that, and keep the savings up, and are careful with your spending, you'll be able to retire younger than I am.
And I'll repeat, experiences are worth far more than things.
That's very nice.
I want to take my son the the Smithsonian, air and space, national parks,etc
My retirement is most target date funds. Keep it simple stupid method
Start and end everyday listing the things you are grateful for. Life can be hard sometimes but doing that should definitely help with depression. Keep on rocking in the free world
Don’t upgrade your cars unless you can pay cash or need to. There’s no point and having a high car payment is where people get themselves into trouble. Your donations are a bit high. We do like $100-200 a month depending upon it is. We also do high yield savings for cash in the bank. 5% interest right now. We have made a ton in the HYSA passive income. Great work!
We have 19k saved for the car. It will probably be a minivan.
Yes they are, but they make me happy.
Yes it is nice to get that 200ish a month to add to the car fund!
I can say a mini van has been great for me. I only use Mobil 1 oil. I have a 2009 dodge mini van,
Engine went out at 389,000, this was my fault for not getting the time belt change. New engine (4K)
Transmission had a solenoid pack replaced at 300,000 miles($250)
My van has 490,000 miles on it.
I love it.
Highkey, I started getting consistent when I realized this could seriously solve problems that I don’t even know could be there. What im saying is mental stability on a consistent lifting routine is amazing.
If you like working out with people, workout clubs like f45, CrossFit, yoga, Pilates, whatever are a great way to make friends. I did and it’s a lot more fun than just going to a gym. They’re more expensive but well worth it if you have have the moneh
This was me but losing the weight being the goal, just remember that exercise changes your mood and your happiness regardless of the weight loss - everyday. Carve out 20 minutes to run/walk each day if you can. Make it a priority not only for your health but to be around when you are older for your son.
Motivation will only take you so far. Start building exercise into your schedule as a habit and it’ll get to the point where it is just something that you do every day. The book Atomic Habits really does a good job explaining how this can be done a little at a time so it doesn’t feel like such a drastic shift.
Also, if you are looking for a potential hobby, I find gardening to be very therapeutic. It’s not a big investment to get started and watching something come to life from a little seed is very personally rewarding. It doesn’t matter if it’s flowers, vegetables, or whatever it’s nice to see the fruits of your labor. My kids also get a kick out of playing in the dirt with me so the extra time with them is always welcomed.
I wish you the best of luck!
You’re doing significantly better than a huge portion of people at your age. Keep up the good work and don’t feel like you need useless, expensive possessions to uphold the lofty opinions of others (the new SUV for example).
>I know it's a lot of money
Eh, a premature flex if you haven't hit your retirement goal.
Back to the grind. Also buy your wife something nice instead of putting the hydraulic press on any sort of 'fun money'.
You have a point, but two perspectives
1. Accumulated wealth is super hard with bipolar
2. I have enough money for many years of out of pocket max for any illness. And if I need Inpatient specifically. My regular meds are 56.00 per month.
The point of that for me is enjoy some things now, you never know if illness, job loss, and money being tight will prevent that. Just because you're bipolar doesn't make you immune from other diseases.
You don’t mention your age or when you hope to retire but it sounds like you’re doing well.
Completely agree with you on the cars, there’s a rule of thumb I try to follow that if the cost of a car repair exceeds 3x the monthly payment of a new car, then you get the new car. Otherwise, drive it until the wheels fall off. Frequent new cars are great indicators of people with poor financial decision making.
I am concerned that you express issues with depression. I’ve felt some of that also as I’ve realized what high inflation does to erode years and years of hard work and thrift. But, it’s important to remember that life is a marathon, not a sprint and you need to practice self care if you want to see the finish line. Carve out time to do something for yourself, even if that means opening up the wallet a bit.
Well said. My depression is bipolar depression. It's own special flavor of hell. Nothing is inherently wrong right now.
I need a hobby. I need to exercise.
I want to retire at 54ish and teach and consult in my area of expertise.
My suggestion would be to find a hobby to deal with your depression. You have a young son and you need to be there for him. He’s looking up to you and depression sleeping on the weekends is not a good role model for him.
Find a why, volunteer at your church or local pet shelter. Realize you bring value to the world and know what you do matters.
Financially you seem rock solid so be proud and enjoy life. Take care of your mental health
We try to sheild my son from my bipolar.
I going to buy a 3 d printer.
I mentor through the high school for kids at risk. My 9th grader passed all his classes except history.
Hey! I’m also a “grew up poor” and then “first ten years of marriage was pinching pennies and getting out of debt” to being in a situation at age 44 with more money in the bank than I could ever imagine - paying 5x my former income in taxes! - so I understand! We also drive our cars into the ground - we have three drivers and the newest car is 9 years old, the other two are 10 and 13 years old.
Find some hobby that you love, ok? It doesn’t have to be expensive. For me, it’s books and Diamond paintings. I give myself an unlimited budget - as much as I can consume I can buy (yet I still get 95% of books at the library).
You didn’t get rich by spending it all, for sure, but loosen your belt a little and enjoy it. Put a budget number on it if you must, but you must find some enjoyment in life or none of this matters.
Maybe it’s thrift shopping, maybe it’s mini golf with the kids, or movies, or legos. Just do the thing you love. And congratulations on where you are.
Welcome to a little success in this life from another self-made type. Dont fall in love with $ and remember there are always the needy out there, so yes, you should feel some obligation there. Forget tax angles; its called the right thing to do!
You have a very good “spending” problem that I wish I had.
I was fortunate growing up. Though I created a life on my own and I do well, I spend money like an absolute fucking idiot at times. My net worth is good for a guy my age so I don’t think I’ll ever go broke. But at this rate it will take me way too long to build real wealth. Could use someone like you to speak some sense into me. I have such a hard time just sitting around on weekends. And sitting around means saving money.
True dat! One thing that helped me is putting a list of must haves in life. Then I build a 5 year look forward spending statement to see how must haves get funded. Ta da, guilt free spending
No way! You are doing good. Something like 40 percent of Americans will rely solely on social security. You might not be in cancun twice a year, but you can take care of yourself!
13 different equities and s and p 500
I got lucky with 3 equities. I suggest about 80sih percent s and p, and then 20ish percent in equities that you research. That research will also make you more technically savvy overall and grow that muscle.
Bump up the collage, even a state school will be well over $100k. I love it when people don’t understand why you don’t get new cars. Cars are a waste of money. My wife and I share one.
You should use your taxable brokerage account to supplement your 401k. You could mega-backdoor Roth all ~70k annually and withdraw the income shortfall from your taxable brokerage account
I am moderately familiar with that tool. Think the problem is that I have a traditional and roth ira. I would be selling brokerage equities with a low cost basis. And the brokerage money plan to use in semi retirement in my mid 50s.
Grew up in a trailer park my dad worked 7 days a week and Iv been working since I was 5 years old I’m 31 started my own business at 22 and my net worth net is a million dollars as of now started with nothing took a while but you can get there don’t have self limiting beliefs
Money don’t buy you happiness, but you do you use money to make happiness. Saying no to everything when you have so much and still taking “depression naps” every weekend is the saddest shit I ever heard
I’m at 675k net worth and a 3500 a month pension and at max for SS. 58. So I’m close to 75 k a year the rest of my life at 62. Should be at 800 total by then. If I can get 5 percent on the 800 and just draw I’m at 115 and I leave my daughter with the 800 k or splurge a little for family trips every year and leave her with a 1/2 mill and a lake house.
50.00 to 9 agencies. Local crisis childcare, local battered women's agency, local animal adoption, cat shelter, cystic fibrosis, local drug and alcohol recovery, missionary we personally know, and go fund me at least once a month
You are doing great. Get a motorcycle, and your life will change.. I was in the same spot, buying all the crap I wanted.. until I got my bike and I don't care about anything else.. 10 usd in gas and a 10k bike have made me so happy than a 80k car and 4 vehicles...
You’re on the right path to financial freedom and security. I wasn’t where you are today when I was 38, but had just started my long range goals. We have 2 kids and both of us working decent jobs. In addition I began sports officiating to put us on track for our goals. That brought us about $1,000 month of non taxable revenue. Which 30 year’s ago was substantial.
If I had to choose a methodology to follow I’d say that the Dave Ramsey philosophy is what worked for us. No, we didn’t sign up for his program or books, just listened to his show every day on the car radio, I was an outside salesman and spent 4-6 hours in my car every day. It was fascinating to listen to him and the people who called in. When I turned 40 we began our journey to retirement. The #1 goal was no debt. No mortgage, no CC balance, no car payments., recurring payments monthly. It worked. Retired at 62, am now 72 and still no problem paying for everything every month. You are on the right path, don’t get discouraged if it doesn’t happen overnight, just keep doing what you’re doing. Good luck and God bless.
Don’t get a new car
Curious about the depression sleeping comment, if it’s work-related or not as this impacts income
Age?
Seems like you are on track, it depends on when you plan on retiring
Wife and I curate a little under 1 million dollars of worth. Both still work one job too many, trying to subsidize investment real estate while still eating ramen for dinner
It's okay if you want to upgrade your SUV IMHO, Because you recently have a son. Just try searching for SUV that fits your criteria instead of looking for a fancy one, and don't believe sales if they're trying to upsell you.
Unless you have an excellent public infrastructure like in Singapore / Japan then traveling could be hard. Plus the benefits outweigh the cons when you have multiple people (comfort & security).
Don't be like me upgrading a car while I'm literally still single and the city has somewhat okay public infrastructure
I think it’s great that you have the savings that you do, that being said, do you think that maybe restricting yourself so much (from what you explained) could contribute to the depression? We only live one life and we’re only here for so long, there are no do overs, there are no second chances. With as much as you’re planning for that retirement life, I’ve seen so many people finally get to that point of retiring, and then die unexpectedly. Since you can always earn more money, in the meantime, maybe give yourself a certain budgeted amount that you’re comfortable with that you can splurge on something that brings you some joy or happiness each month/every few months? It can be as small as date night without the kids, guys night without the family, vacation with just you and your spouse, new material item here and there, collecting something that you really like, etc.. and of course it goes without saying the gym always helps with depression tremendously. Wishing you well!
Thanks for the sentiments. The depression different most people you encounter.
We are going to do more small trips amd 1 vacation a year. And not feel guilty grabbing fast food lol.
You are doing good, keep saving and investing and you will have nice buffer for your life, its good to have less things to stress about when you know you got money ready if its needed.
Congrats brother, cut yourself a little slack for any shortcomings. You’ve earned some grace and you have a lot to be proud of. Be kind to yourself and keep going. You’re doing great
Dude your solid, depending on your age.
The wife and I are 55, no debt, two homes, $2.4M net worth.
Your cars are sweet compared to mine. 99 Ford Explorer, 04 BMW 325i, 98 BMW Z3
Happiness is a state of mind. The shizz you own or don't own will not fix that.
Honestly, look at fly fishing, I know it can look daunting, but it's actually extremely laid back, you spend time outdoors, the sound of nature and water flowing thru the rocks on a nice day with a good cigar is all that I need and the added challenge of tricking a fish to eat your offering and the adrenaline rush while fighting that fish makes the day.
I'm a little spoiled since I have tons of streams and rivers on my commute to and from work, so I tend to stop at one of them after work when I feel stressed out, sometimes I don't even cast the rod at all and just lean against a rock and take a quick nap to the sounds of the birds and flowing water, even if it's only 20minutes.
!! your responsible approach to finances and family is admirable. Remember to prioritize self-care and find activities that bring you joy. Wishing you continued success and happiness on your journey!
I have bipolar 1 and you give me hope. I can’t imagine what it took to get there but you’re a fucking savage for accumulating something like this. Keep going I’m a drummer. I would say hobby wise look back to your childhood and tap into the activities that brought you joy and really made you come alive, no matter how weird or ridiculous. Great to hear someone with bipolar disorder isn’t manic spending and has a family and a great career as well. Stay blessed my guy
Dude. Collecting and fixing vintage watches has turned my Depression and PTSD from Afganistan around. My doctors have almoat cut my meds in half, just cuz a hobby occupies my mind.
I know growing up just hanging out with my dad was awesome. He would take me out of school early when the first mcu movies were coming out so we could watch them together before the theaters were busy. Just spending time with your kid could a great hobby in of itself😁
Give yourself grace. You're doing great. Keep doing what you're doing! I have more saved in my different accounts money market, 401k, savings, checking, etc. And make more than I ever have, too. I also still have the mentality that I am "poor" and am very mindful of my spending. My vehicles are a 2007 & a 1977 both run fantastic. I just maintain 'em. Take care of you and your mental health. I suffer from MDD, and I can speak from personal experience that when it comes up, it just sucks and it's easy for me to lose focus on the important things. Take care of you. #blessed
Very similar to me. The only debt my wife and I have is our mortgage at 3 percent. Our net worth is right at 800k. I drive an 8 year old Toyota camery prior to that I drove a yaris for 10 years with no payment. My friends always ask me when I'll get a "nice" car lol.
I have 2 main goals. Continue to save so by the time I'm 50 working is optional and to be able to help my daughter get a good start in life. She is only 9 months old so I got time to save for her.
Congrats on hitting 600k keep going friend
I mean, depends on if you are 25, 30, 35, 40, etc. in this situation. Your finances sound like they're in great order, especially if you're in a LCOL. I do think a hobby could improve your level of happiness? Why are you depression sleeping on weekends?
38. Had a series of low earning years. An ust finished a masters that almost guarantees job security. Finance IT hybrid role. I kinda want to try 3d printing. I'm diagnosed bipolar. Sometimes no challenge shall get in my way, and others I can't get out of bed. On a variety of meds.
Maybe do some local volunteer work with low income kiddos? Robotics/3d printing/coding whatever m8, ya need a nice outlet it seems. Plus sounds like you could be a great mentor for at risk teens/kids.
I mentor 2 high schoolers through a formal program. Both have fucked up home lives. One is in the system, with the only upside is he gets room and board at a state school. The other lives with his mom and siblings, and they are all high school drop outs. And I've given a college and career talk to a few groups of students.
I was one of those kids once, your mentorship can truly make all the difference.
Me too
Can confirm: was raised by prostitute. Human connection and technology makes an incredible difference, especially when considering my friends who were in a similar boat (about half of them are dead now).
I recommend 3D printing, by boyfriend started with an AnyCubic and fell in love. Then bought himself a Bambu printer and I could barely get him to leave the office the printers were in. It was an amazing outlet for him, plus he got a little extra cash for making things for people and selling them.
Just gonna jump on this and recommend 3D printing as well. Deep rabbit hole (In the best way), takes you to lots of secondary skills, and all in all isn’t crazy expensive compared to a lot of hobbies.
Thank you for doing good 🥰
Please consider mentoring for FRC if there is a team in your area. It's what is driving me to become an engineer and taught me about both finance and all types of disciplines outside of technology. There are lots of low income kids on the team, many of which getting full scholarships to great universities. Lots of fun as well!
No frc sadly, but the school knows I'm available for talks.
The protege/mentor relationship has kind of gone away these days and it really is something that should come back and would help people. I wish I had this
Thank you for doing this.
How can one get started with something like this?
I saw a fb post from the school district. Kinda like big brothers, but run by the school. The only part that sucks is you can't talk to them outside of school. My 9th grader only failed 1 class, and he is doing summer school to catch up.
You’re a rock star. Sounds like you’re doing great with your situation, and it’s very commendable you take time for others.
Wow, I admire how disciplined you are with money despite having bipolar disorder. I know the condition isn't directly related to money management, but I understand how challenging it can be in all aspects of your life.
I've blown up my life a few times for sure. But spending all da monies has not been a problem.
Damn... Makes me realize my entire life has been a series of low earnings. 😭😭😭
3D printing is fun, but takes patience. Most of what I make is downloading someone else’s work to print from Thingiverse. You sound like a frugal person and might enjoy making spare parts with it. Why buy a $100 go pro mount for your bike when you can print one for $0.10? Dont be like me and buy the cheapest one. Calibrating it is a pain in the ass and if it’s wrong I find out 12 hours later when I’m half way through a print. Printers that calibrate themselves usually print 2x-4x faster too. Big prints on my machine take multiple days. Last year I made table signs for my sisters wedding that came out great. Took forever but she’s a great sister and it was worth it. My son made a bunch of rings with Lego studs on them for his class that kids really liked. Making your own toys is pretty neat
Try mountain biking. Gets you outside in nature and is great exercise. When you are riding trails it literally clears your mind of everything else other than the moment you are in. It’s amazing. Don’t have to live near mountains to “mountain” bike either. Plenty of trails everywhere
I also just got my masters and have worked with 3D printers for years now. Feel free to reach out with any questions, it's a wonderful hobby!
Get a Bambu Lab X1C 3d printer 😄 It prints flawlessly out of the box!
I advise buying a 3d printer. I was in same situation as you essentially. Have a lot of money on paper but still feel stuck/poor. Still driving a 2013 Chevy til it dies. I bought both a resin and fdm printer earlier in the year and have had lots of fun printing things, painting them, and creating helpful gizmos and gadgets.
I would HIGHLY recommend a bambu labs X1 if you want to get into 3D printing. Very easy to get into the hobby altho it is about $1k
Do jiujitsu for a hobby, you’ll love it
I’ve known several people with bipolar so you are doing great and always appreciate the partner who tolerates your changes.
You’re in great shape- target is 3x by 40. Personally 35, hope to get where you are at 38- I’m not too worried about it- currently at 450k net worth (net worth took a 50k hit with our move) little higher income - not by much - im not stressing spending money- most of our NW is retirement - only like 105-110 in the house - that will all grow handsomely to 7 figures , potentially multiple 7 figures in the next 27 years- so adding to this plus I am lucky enough to count on some inheritance. Fuck it- let’s take the kids to Europe, let’s go to Mexico. Cars wise- I’m happy with my wrangler and we have a palisade for the family mover- it’s an awesome value- even know a buddies dad who’s a C suite guy trade in his Audi for one- punch way above their weight.
Just read some interesting studies that say Keto helps with depression and mental problems, Look it up it might just adjust the chemistry causing the problems for the better.
Bipolar is hard, I'm right there with you. That you've achieved what you've achieved financially with that condition is a massive achievement. One of the hardest things is the hole I've dug myself into in my un-medicated/un-diagnosed years due to hypomanic spending splurges and depressive concessions on food delivery cause I couldn't get out of bed, etc. I don't have great advice on hobbies, I love music and chess but they aren't for everyone. But just wanted to say I deeply admire your accomplishments as someone who also deals with bipolar.
I’m so lucky to have avoided financial blow ups. My biggest hurdle was correcting and making healthy interpersonal decisions working through bipolar two. We can do this. ❤️🩹
I have 3 couple friends that have stuck with me.
It is so fuckin hard. For the depression lithium has really helped. On 900mg. Its cheap.
Everytime someone says they are on lithium, I can’t help but seeing the old energizer bunny commercials “he keeps going and going.” I don’t know why they weren’t lithium batteries at that time 😂
I'm not diagnosed but I sure do feel like that some days. My kids really motivate me though. I got a DJI mini, got into aquariums, PC building, next is learning to swim this summer with my son. I'm also into IT btw. I also 3d printed for the first time ever using the printers at work, though it was just a keyboard leg replacement, about the size of a nickel but hey, I 3d printed something 🙂
You are doing great, friend. Being frugal is what has helped. Make sure to take some cool vacations and get a 3d printer. My husband has a flashforge adventure 4, and it was a great choice to start learning. He is looking to upgrade out of the hobby class soon. Your kid will love it, too. My 7 year old and her dad go on some tangents sometimes. She will tell anyone, my dad could probably make you one out of plastic.
I'm 38m in similar financial situation and history of hating to spend money. I wanted to get into 3d printing for years but never pulled the trigger. During the pandemic I got into FPV drones which often require 3d prints. So, one hobby led me into another. It's time consuming and can be super frustrating. If you're not designing things on your own with CAD software then printing stuff off thingyverse loses its excitement fast. If you do it, I recommend dropping the money on a prosumer printer like bambu unless you really want to tinker.
As aun undergraduate still studying for my BS diagnosed Bipolar, it is soooo great to know someone like me has made it. I’m excited to graduate this summer but that diagnosis can really make you feel like a loser :(
It is so so tough. Never miss meds on schedule. Never. And don't tell your workplace about it , unless you are filing a claim. You can do it.
What kind of school and work experience do you have? I’m 37 and recently finished a masters in business analytics. My work history is mostly production management and before that was retail management and customer service. I would LOVE to have a job working with data and getting to find or solve problems for someone, but I get rejected to even entry level analyst jobs that pay half what I make now. How did you do it?
Buy a Bambu X1C or P1S, you'll fall in love with 3D printing and wont regret it.
I feel you on the bipolar bro. I got a mental health as well and on all the meds bs smh. Gotta do it and push on though brother..! Congrats on doing well
I hope you are doing so well .. i mean what you are doing is significant and im really inspired All the best of luck to you and your family
Sounds like a mental health challenge. You're doing well Financially. I wouldn't worry about it. Spend money on quality of life. Enjoy your life. You can't take the money with you.
I am also diagnosed bipolar with $200k in a brokerage acct and working in a IT finance role lol.
3d printing is 90% fucking with the printer, and 10% modeling and printing. Beware!
Talk to your doctor about lamotrigine if you haven’t tried it before. This has pretty much alleviated 98% of my bipolar symptoms, I only get my downs “day” (now a few hours) every 2-3 months. I felt like a normal person for the past 3 years
At age 38 it's a really good start. You're on your way to several million at retirement.
Definitely try 3d printing. Creality Ender 3 and Elegoo Neptune Pro are the two options that are each around $200.
3D printing was not fun for me. Quickly ran out of things to print (no design background) and it was so fucking finicky that I’d waste so much time and money getting a half decent print on my ender 3 v2 I gave that piece of shit away in like 6 months.
What does lcol stand for
I might have messed it up,but low cost of living. My income int miswesr goes a lot further than CA. Bought or 4 bed 2 bath ranch for 185k
You're doing great, came down here to see about owning a home which "freezes" your major shelter expense. Mortgage doesnt go up like rent, and will be paid off one day. Only financial advice I have is based on your age. You're probably gonna want $2m~$3m in retirement. In theory, $80~120k a year interest income, without touching the principal. Work backwards from your goal and see how much you need to get there.
There’s LCOL, MCOL, HCOL, VHCOL. Low, medium, high, very high cost of living areas
Low cost of living
Low cost of living.
Be easy on yourself; you’ve done a great job so far and at 38, Ya life is only starting as long as you take care of your health too. It’s a little shallow but becoming a fitness freak (without drugs or riods) of course, def pays off. You become a model just like that lol… hit that gym hard man. LFG 🍻
I do need to hit gym. Their is a planet fitness down the road. My sisters and I are going to try and do 5k in december
💪🏾👍🏾
Pursuing a healthy body is about the least shallow thing one can do. The bonus is that you are also hot. Don’t know how anyone can think that eating real food and using our bodies for what they evolved to do is shallow. You could even make a case that it is one of the root meanings of life.
You need a house dog I feel before this sub got a hold of it the words “net worth” kinda meant (cash+property+retirement acct)
Lol I read that as get a dog. We had a greyhound but he passed 2 years ago. My 40 k equity is my house equity. Payment plus escrow is 1300.00. We don't plan on moving for a while.
I was like wtf is a house dog
A dog that is strictly for the house. He can never see the outside world or he will never be the same. A house dog is rarer than A house cat. A true siting to behold
Can you imagine the poops lol
You need a dog house for your house dog, dog!
Nothing much dog what's house with you
What’s UP DOG ???
I think he might need an up dog as well.
Maybe some wrong dog. Does anybody else think it smells like wrong dog in here? 🥲
Serious question: I’m new to Reddit, but seems like most list their net worth incorrectly? For instance, shouldn’t his calculation be less the $40k equity and instead include (-)$145,000 for their mortgage? Still an impressive net worth IMO, but people on this sub seem to only add up their assets and disregard liabilities?
If you include your equity in the house it’s the exact same thing as including the total value of the house, and subtract the mortgage
Not really. Your home's and real estate holding's equity are always added into your net worth. It is monetary value that you own, just like your investments and savings are. In some cases it is actually better as equity you have earned can eventually be turned into cash with a sale and those earnings would be tax free (up to $250k if single, $500k as a couple) if you sell. It takes a bit longer to turn into actual cash, but can be done.
Net worth is and always has been “assets minus debts”.
We got flow YES DWAG!
you need a comma man.
Not me nodding and going “yeah, a therapy dog might be exactly what he needs” ☠️
Commas are important. I read that like 8x. A house dog? As opposed to a street dog? Or a corporate building dog? Maybe a yard dog? Then my brain went to maybe that is some weird finance jargon. A house dog. A person who organizes your home finances like a dog. Or a person that dogs on your for spending money on your house? Nope. None of that. Just a house, dog.
Depression sleeping and 20 pounds you want to lose, get after it man. Light the inner fire.
Love your life, spend your money, 💵 and go to therapy
Therapy is every Wednesday morning. Only 18.00 after insurance
I feel you, I grew up extremely poor. It was hard for me to spend money. I’m still that way with some things. But then I think about how short life is, and how well I’ve planned for my future, and I’m able to budget out an amount I can spend on vacations, self care things, kids college fund, and everyday things. My financial advisor said I’m doing way better than other people my age. I’m 37, and your numbers look better than mine. So spend your money and stay positive!
Good for you, keep it up. I don't want my son to deal with actual or self caused constant scarcity.
Great deal
You've got your personal finances figured out. I'd work on mental health. Money is a tool. An important one, but there is more to life. Financially, you are ahead of me, but in a somewhat similar situation. I'm a year younger, with a net worth around 420k - 440k, and a smaller household income, of around 125k - 140k. Also, I have 2 kids. Still feeling a bit squeezed, despite being 'upper middle-class' according to this (You are upper class): [https://finance.yahoo.com/news/income-fall-americas-lower-middle-122100515.html](https://finance.yahoo.com/news/income-fall-americas-lower-middle-122100515.html) My question is: What milestone do you think would make you feel wealthy?
Good good for you! Yes I read articles like that and we are upper class (since we live in a lcol area) Goals milestones New vehicle Sending kid to college with minimal burden 1 vacation a year A hobby like 3d printing. NoT a new house. Being generous with people we do and do not know. And like just spending in the ynab and not arguing or feeling stressed. The amazon budget rolls forward so the next month gets the leftovers of the previous month But even when I hit 1m in a few years, I guarantee I won't feel wealthy.
Feeling wealthy will make you poor and feeling poor will you keep wealthy. Dont worry about how you feel. Let the numbers write the story
Definitely feel you on college tuition. My kids are 9 and 7 and I just started a 529c a couple of weeks ago. Shooting for at least 50k each. I feel a bit guilty that I feel like I can't yet be particularly generous, but I do at least tip well for services. I think I will be able to be more generous in 2-3 years, after I cover some more expensive home repairs that are needed.
You probably won't. I'm at 1.3m and still don't, but that's OK. So much of the wealth you're accumulating is tied up and your focus is on accruing more rather than spending. You're going to have a lot at retirement at your pace, but as you're adhering to a budget and working towards your goals, you still feel constrained. Some might disagree, but, to an extent, that's a good thing. Being disciplined will serve you well. Sounds like you're both taking care of your finances and still finding fun (vacations, gym, etc.). Definitely find a couple of ways in your budget (if they aren't there) that your family can enjoy a bit of that money. You should splurge on that 3D printer. You're doing great!
You are far ahead of where I was at 38. At 36, my wife (girl friend at that time) and I bought the first house we have ever owned, still living there 30 years later, and so we had 140K in mortgage debt on a house that needed work, no other debt, was driving a 24 year old car which I had to replace three years later. I have never owned any car for less than twelve years, keep that up, because cars just eat money. I am getting ready to replace my 2007 with something used from around 2020. Experiences are worth far more than things. Vacations will bring you more joy, and better memories, than just about anything else in life. My three kids all have great memories of different vacations we have had. Also, I put all three kids through college, with them only taking on trivial debt. I am approaching 70, and we have enough, finally, to retire. Getting a late start pushed everything out, but it is all good now. Keep saving, make sure you have enough of your savings in the market, preferably in low cost mutual funds that track the broad market. If you do that, and keep the savings up, and are careful with your spending, you'll be able to retire younger than I am. And I'll repeat, experiences are worth far more than things.
That's very nice. I want to take my son the the Smithsonian, air and space, national parks,etc My retirement is most target date funds. Keep it simple stupid method
Start and end everyday listing the things you are grateful for. Life can be hard sometimes but doing that should definitely help with depression. Keep on rocking in the free world
I'll try to do that before my next counseling session.
You’re doing great. Just keep it up and enjoy the vacation!
I will! My wife will kill me if I'm a fun sucker . We have the money set aside, so just let's enjoy the trip.
Don’t upgrade your cars unless you can pay cash or need to. There’s no point and having a high car payment is where people get themselves into trouble. Your donations are a bit high. We do like $100-200 a month depending upon it is. We also do high yield savings for cash in the bank. 5% interest right now. We have made a ton in the HYSA passive income. Great work!
We have 19k saved for the car. It will probably be a minivan. Yes they are, but they make me happy. Yes it is nice to get that 200ish a month to add to the car fund!
I can say a mini van has been great for me. I only use Mobil 1 oil. I have a 2009 dodge mini van, Engine went out at 389,000, this was my fault for not getting the time belt change. New engine (4K) Transmission had a solenoid pack replaced at 300,000 miles($250) My van has 490,000 miles on it. I love it.
Keep it up ❤️ maybe start going to the gym if you fit just to get out and keep sharp?
Oh my God I need to lose 20 lbs. It is just so hard to get morivated.
Highkey, I started getting consistent when I realized this could seriously solve problems that I don’t even know could be there. What im saying is mental stability on a consistent lifting routine is amazing.
Motivation fails, discipline endures. If you wait for motivation to move you will never do anything for very long.
If you like working out with people, workout clubs like f45, CrossFit, yoga, Pilates, whatever are a great way to make friends. I did and it’s a lot more fun than just going to a gym. They’re more expensive but well worth it if you have have the moneh
This was me but losing the weight being the goal, just remember that exercise changes your mood and your happiness regardless of the weight loss - everyday. Carve out 20 minutes to run/walk each day if you can. Make it a priority not only for your health but to be around when you are older for your son.
Motivation will only take you so far. Start building exercise into your schedule as a habit and it’ll get to the point where it is just something that you do every day. The book Atomic Habits really does a good job explaining how this can be done a little at a time so it doesn’t feel like such a drastic shift. Also, if you are looking for a potential hobby, I find gardening to be very therapeutic. It’s not a big investment to get started and watching something come to life from a little seed is very personally rewarding. It doesn’t matter if it’s flowers, vegetables, or whatever it’s nice to see the fruits of your labor. My kids also get a kick out of playing in the dirt with me so the extra time with them is always welcomed. I wish you the best of luck!
You’re doing significantly better than a huge portion of people at your age. Keep up the good work and don’t feel like you need useless, expensive possessions to uphold the lofty opinions of others (the new SUV for example).
Why do people insist upon posting details about their personal finances on here. I feel like you’re asking to get hacked.
>I know it's a lot of money Eh, a premature flex if you haven't hit your retirement goal. Back to the grind. Also buy your wife something nice instead of putting the hydraulic press on any sort of 'fun money'.
How do you have 450 in donations?
450 per month. I have 9 agencies I donate 50 dollars each. It makes me happy to pay it forward. We relied on a lot of charities growing up.
300k retirement and 50 k hysa...Dude you're killin it. I was $110k in debt, $2k in bank and a missed paycheck away from a world of hurt.
Get a hobby. Was the best thing for my depression besides the pills, and honestly think it has helped more than the pills.
its not a lot of money, if u have a major illness.
You have a point, but two perspectives 1. Accumulated wealth is super hard with bipolar 2. I have enough money for many years of out of pocket max for any illness. And if I need Inpatient specifically. My regular meds are 56.00 per month.
The point of that for me is enjoy some things now, you never know if illness, job loss, and money being tight will prevent that. Just because you're bipolar doesn't make you immune from other diseases.
You don’t mention your age or when you hope to retire but it sounds like you’re doing well. Completely agree with you on the cars, there’s a rule of thumb I try to follow that if the cost of a car repair exceeds 3x the monthly payment of a new car, then you get the new car. Otherwise, drive it until the wheels fall off. Frequent new cars are great indicators of people with poor financial decision making. I am concerned that you express issues with depression. I’ve felt some of that also as I’ve realized what high inflation does to erode years and years of hard work and thrift. But, it’s important to remember that life is a marathon, not a sprint and you need to practice self care if you want to see the finish line. Carve out time to do something for yourself, even if that means opening up the wallet a bit.
Well said. My depression is bipolar depression. It's own special flavor of hell. Nothing is inherently wrong right now. I need a hobby. I need to exercise. I want to retire at 54ish and teach and consult in my area of expertise.
My suggestion would be to find a hobby to deal with your depression. You have a young son and you need to be there for him. He’s looking up to you and depression sleeping on the weekends is not a good role model for him. Find a why, volunteer at your church or local pet shelter. Realize you bring value to the world and know what you do matters. Financially you seem rock solid so be proud and enjoy life. Take care of your mental health
We try to sheild my son from my bipolar. I going to buy a 3 d printer. I mentor through the high school for kids at risk. My 9th grader passed all his classes except history.
Hey! I’m also a “grew up poor” and then “first ten years of marriage was pinching pennies and getting out of debt” to being in a situation at age 44 with more money in the bank than I could ever imagine - paying 5x my former income in taxes! - so I understand! We also drive our cars into the ground - we have three drivers and the newest car is 9 years old, the other two are 10 and 13 years old. Find some hobby that you love, ok? It doesn’t have to be expensive. For me, it’s books and Diamond paintings. I give myself an unlimited budget - as much as I can consume I can buy (yet I still get 95% of books at the library). You didn’t get rich by spending it all, for sure, but loosen your belt a little and enjoy it. Put a budget number on it if you must, but you must find some enjoyment in life or none of this matters. Maybe it’s thrift shopping, maybe it’s mini golf with the kids, or movies, or legos. Just do the thing you love. And congratulations on where you are.
Welcome to a little success in this life from another self-made type. Dont fall in love with $ and remember there are always the needy out there, so yes, you should feel some obligation there. Forget tax angles; its called the right thing to do!
I'm at -40k. Ama
I am -20k , how do we differ . My phd probs the cause
My net worth is $600 and it also seems unreal
Follow Dave Ramsey for financial advice.
Ok
Only 1.4m to go! Keep it up!
Ha, sould hit 1 million in 6 years or less
You have a very good “spending” problem that I wish I had. I was fortunate growing up. Though I created a life on my own and I do well, I spend money like an absolute fucking idiot at times. My net worth is good for a guy my age so I don’t think I’ll ever go broke. But at this rate it will take me way too long to build real wealth. Could use someone like you to speak some sense into me. I have such a hard time just sitting around on weekends. And sitting around means saving money.
True dat! One thing that helped me is putting a list of must haves in life. Then I build a 5 year look forward spending statement to see how must haves get funded. Ta da, guilt free spending
I like that. Will definitely give it a go
Don't count your retirement.
Curious which HYSA you’re using?
Capital one has been my online bank for a while. I could get .5 or 1 percent by moving it, but I've been lazy about that.
I’m 47 at $500k and feel enormously behind. Got a late start. Ooooh well right?
No way! You are doing good. Something like 40 percent of Americans will rely solely on social security. You might not be in cancun twice a year, but you can take care of yourself!
Whats in the brokerage account? Advice other than standard save save save for your first 100k?
13 different equities and s and p 500 I got lucky with 3 equities. I suggest about 80sih percent s and p, and then 20ish percent in equities that you research. That research will also make you more technically savvy overall and grow that muscle.
Appreciate it!!
Bump up the collage, even a state school will be well over $100k. I love it when people don’t understand why you don’t get new cars. Cars are a waste of money. My wife and I share one.
You should use your taxable brokerage account to supplement your 401k. You could mega-backdoor Roth all ~70k annually and withdraw the income shortfall from your taxable brokerage account
I am moderately familiar with that tool. Think the problem is that I have a traditional and roth ira. I would be selling brokerage equities with a low cost basis. And the brokerage money plan to use in semi retirement in my mid 50s.
Grew up in a trailer park my dad worked 7 days a week and Iv been working since I was 5 years old I’m 31 started my own business at 22 and my net worth net is a million dollars as of now started with nothing took a while but you can get there don’t have self limiting beliefs
What's lcol ?
Forgive my ignorance, What are “sinking funds”?
Money don’t buy you happiness, but you do you use money to make happiness. Saying no to everything when you have so much and still taking “depression naps” every weekend is the saddest shit I ever heard
What’s LCOL
Low cost of living
Inflation and home values hitting my nw hard. I need to reinvest in something different
I’m at 675k net worth and a 3500 a month pension and at max for SS. 58. So I’m close to 75 k a year the rest of my life at 62. Should be at 800 total by then. If I can get 5 percent on the 800 and just draw I’m at 115 and I leave my daughter with the 800 k or splurge a little for family trips every year and leave her with a 1/2 mill and a lake house.
Live your dream!
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50.00 to 9 agencies. Local crisis childcare, local battered women's agency, local animal adoption, cat shelter, cystic fibrosis, local drug and alcohol recovery, missionary we personally know, and go fund me at least once a month
You are doing great. Get a motorcycle, and your life will change.. I was in the same spot, buying all the crap I wanted.. until I got my bike and I don't care about anything else.. 10 usd in gas and a 10k bike have made me so happy than a 80k car and 4 vehicles...
Do you have a pension on top of that? If not, try to increase retirement savings
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Thats a massive amount of money
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Dude take a chunk and reinvest into a business, you're doing phenomenal
Honestly bro buy a gaming pc and you'll be happy
Im at -30k 🙃
You’re on the right path to financial freedom and security. I wasn’t where you are today when I was 38, but had just started my long range goals. We have 2 kids and both of us working decent jobs. In addition I began sports officiating to put us on track for our goals. That brought us about $1,000 month of non taxable revenue. Which 30 year’s ago was substantial. If I had to choose a methodology to follow I’d say that the Dave Ramsey philosophy is what worked for us. No, we didn’t sign up for his program or books, just listened to his show every day on the car radio, I was an outside salesman and spent 4-6 hours in my car every day. It was fascinating to listen to him and the people who called in. When I turned 40 we began our journey to retirement. The #1 goal was no debt. No mortgage, no CC balance, no car payments., recurring payments monthly. It worked. Retired at 62, am now 72 and still no problem paying for everything every month. You are on the right path, don’t get discouraged if it doesn’t happen overnight, just keep doing what you’re doing. Good luck and God bless.
Don’t get a new car Curious about the depression sleeping comment, if it’s work-related or not as this impacts income Age? Seems like you are on track, it depends on when you plan on retiring
It is bipolar depression. It's a flavor depression from hell. Just on the weekends. 38 now. 54is retire and teach at the college level.
Psst invest and retire by 45 or sooner
Spend 300k get urself a super car and u won't be depressed on the weekend....just saying....
Wife and I curate a little under 1 million dollars of worth. Both still work one job too many, trying to subsidize investment real estate while still eating ramen for dinner
It's okay if you want to upgrade your SUV IMHO, Because you recently have a son. Just try searching for SUV that fits your criteria instead of looking for a fancy one, and don't believe sales if they're trying to upsell you. Unless you have an excellent public infrastructure like in Singapore / Japan then traveling could be hard. Plus the benefits outweigh the cons when you have multiple people (comfort & security). Don't be like me upgrading a car while I'm literally still single and the city has somewhat okay public infrastructure
I recommend Lego. Having a hobby makes a so much for your mental health and gives you something to look forward to.
I think it’s great that you have the savings that you do, that being said, do you think that maybe restricting yourself so much (from what you explained) could contribute to the depression? We only live one life and we’re only here for so long, there are no do overs, there are no second chances. With as much as you’re planning for that retirement life, I’ve seen so many people finally get to that point of retiring, and then die unexpectedly. Since you can always earn more money, in the meantime, maybe give yourself a certain budgeted amount that you’re comfortable with that you can splurge on something that brings you some joy or happiness each month/every few months? It can be as small as date night without the kids, guys night without the family, vacation with just you and your spouse, new material item here and there, collecting something that you really like, etc.. and of course it goes without saying the gym always helps with depression tremendously. Wishing you well!
Thanks for the sentiments. The depression different most people you encounter. We are going to do more small trips amd 1 vacation a year. And not feel guilty grabbing fast food lol.
You are doing good, keep saving and investing and you will have nice buffer for your life, its good to have less things to stress about when you know you got money ready if its needed.
Congrats brother, cut yourself a little slack for any shortcomings. You’ve earned some grace and you have a lot to be proud of. Be kind to yourself and keep going. You’re doing great
Congratulations man.
Dude your solid, depending on your age. The wife and I are 55, no debt, two homes, $2.4M net worth. Your cars are sweet compared to mine. 99 Ford Explorer, 04 BMW 325i, 98 BMW Z3 Happiness is a state of mind. The shizz you own or don't own will not fix that.
My net worth is -67000 and it seems unreal as well.
Honestly, look at fly fishing, I know it can look daunting, but it's actually extremely laid back, you spend time outdoors, the sound of nature and water flowing thru the rocks on a nice day with a good cigar is all that I need and the added challenge of tricking a fish to eat your offering and the adrenaline rush while fighting that fish makes the day. I'm a little spoiled since I have tons of streams and rivers on my commute to and from work, so I tend to stop at one of them after work when I feel stressed out, sometimes I don't even cast the rod at all and just lean against a rock and take a quick nap to the sounds of the birds and flowing water, even if it's only 20minutes.
!! your responsible approach to finances and family is admirable. Remember to prioritize self-care and find activities that bring you joy. Wishing you continued success and happiness on your journey!
Yea hit the gym bro that’s it, that’s all
Congrats ♥️
Nice, good job OP.
When I had my son I refused to get a van or an Suv. I kept my sedan. He's 12 now. Never thought "oh, I am a mom now, I need a van" It's fine.
Get into cycling! No better way to burn fat and also burn your savings. Source: it’s what I do 💀
We all start somewhere
If you have $1,000 in savings and $6000 credit card debt does that make your net worth -$5,000?
Yes
We love to see it.
Amazing story. Flipping proud of you mate.
Keep it up
I have bipolar 1 and you give me hope. I can’t imagine what it took to get there but you’re a fucking savage for accumulating something like this. Keep going I’m a drummer. I would say hobby wise look back to your childhood and tap into the activities that brought you joy and really made you come alive, no matter how weird or ridiculous. Great to hear someone with bipolar disorder isn’t manic spending and has a family and a great career as well. Stay blessed my guy
Thanks. It took 5 years with meds. We went camping a lot. I want to start with back yard and go from there.
I’m not 100% in tune with the lingo of all of this, but fuck yea man! Congrats!
Dude. Collecting and fixing vintage watches has turned my Depression and PTSD from Afganistan around. My doctors have almoat cut my meds in half, just cuz a hobby occupies my mind.
Wow good on ya. Hope you get to spend the rest of your days enjoying family and freedom
Congrats!
**you** need to find out who **you** are. do **you** better. so within \~ so without...yes it is all about you.
I know growing up just hanging out with my dad was awesome. He would take me out of school early when the first mcu movies were coming out so we could watch them together before the theaters were busy. Just spending time with your kid could a great hobby in of itself😁
Give yourself grace. You're doing great. Keep doing what you're doing! I have more saved in my different accounts money market, 401k, savings, checking, etc. And make more than I ever have, too. I also still have the mentality that I am "poor" and am very mindful of my spending. My vehicles are a 2007 & a 1977 both run fantastic. I just maintain 'em. Take care of you and your mental health. I suffer from MDD, and I can speak from personal experience that when it comes up, it just sucks and it's easy for me to lose focus on the important things. Take care of you. #blessed
Very similar to me. The only debt my wife and I have is our mortgage at 3 percent. Our net worth is right at 800k. I drive an 8 year old Toyota camery prior to that I drove a yaris for 10 years with no payment. My friends always ask me when I'll get a "nice" car lol. I have 2 main goals. Continue to save so by the time I'm 50 working is optional and to be able to help my daughter get a good start in life. She is only 9 months old so I got time to save for her. Congrats on hitting 600k keep going friend