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As you can see, we've not gone up much. My BIG mistake: I bought a rundown hobby farm, put tens of thousands into it and now I'm going to try to sell it later this month. It's not the kind of property that will fly off the shelf either. We can sell it for a loss. Still a seller's market.
Inheritance news:
Mom's: Still waiting to exit probate. I'm tired of saying "it should be soon". F- if I know. Maybe it will never come. Maybe my sister is di(king me around and instead of giving me my half she's building an awesome addition to her home.
Father-in-law's: SCORCHED. EARTH... It's VERY, VERY bad. Brothers are about two weeks away from burning it all to the ground. Business is currently functioning outside of the law and in order to fix it there will need to be a dissolution of a partnership, but the partners will not agree to it. So that leaves the brother-in-law no choice but to fire every single employee and give them a severance package and then start over, which won't be possible... because the partners won't agree to it. It's an actual Mexican standoff!
Additionally there are already 3 lawsuits against the sister-in-law. She has one against my brother-in-law. There will likely be more from the employee union and business partners as the S hits the F, but I'm not sure which direction they will go. My sister-in-law is the legal representative and administrator for the business so I'm assuming they will go against her, but... you never know! Team of ten lawyers. Talking to my husband earlier today he says it's like the Matrix and the bullets have been shot already but everything is in slow motion. Unfortunately it's not like in the movie where you can do really cool tricks to avoid the fallout.
There will be nothing when this is over (in ten years).
Nada.
I'm pretty broken ya'll. I nearly took a bunch of drugs and walked into the lake the other day. I really hurt my kids. I refused to talk to them (anyone) the whole day. NOTHING is okay right now.
I've been posting for about 10 years and I have yet to have any issues arise from CD. Nobody really cares. Other people's posts is entertainment. My posts are cathartic.
+1
People should put their concerns in far more susceptible areas.
Don't you guys think that's too much info to post on public forum?
Also - on the Internet everyone can be a millionaire
Yes, absolutely.
Of course there's always that (particular) guy who is in his early 30s, making over $250k per year (and over $100k per year consistently since age 22) and has money management problems...
I already posted my info, but this is a year-to-date look at our net.
Savings increased $35K
Portfolio investments increased $170K
Other investments increased $33K
Zero liability
I withdraw 50% of my RMD split evenly for 11 months and the remaining 50% in Dec. Most of the expenses occur in the first three months of the year and only one in June.
We also have not done anything fun during the last year and this year, but will be traveling the next two weeks.
As you can see, we've not gone up much. My BIG mistake: I bought a rundown hobby farm, put tens of thousands into it and now I'm going to try to sell it later this month. It's not the kind of property that will fly off the shelf either. We can sell it for a loss. Still a seller's market.
Inheritance news:
Mom's: Still waiting to exit probate. I'm tired of saying "it should be soon". F- if I know. Maybe it will never come. Maybe my sister is di(king me around and instead of giving me my half she's building an awesome addition to her home.
Father-in-law's: SCORCHED. EARTH... It's VERY, VERY bad. Brothers are about two weeks away from burning it all to the ground. Business is currently functioning outside of the law and in order to fix it there will need to be a dissolution of a partnership, but the partners will not agree to it. So that leaves the brother-in-law no choice but to fire every single employee and give them a severance package and then start over, which won't be possible... because the partners won't agree to it. It's an actual Mexican standoff!
Additionally there are already 3 lawsuits against the sister-in-law. She has one against my brother-in-law. There will likely be more from the employee union and business partners as the S hits the F, but I'm not sure which direction they will go. My sister-in-law is the legal representative and administrator for the business so I'm assuming they will go against her, but... you never know! Team of ten lawyers. Talking to my husband earlier today he says it's like the Matrix and the bullets have been shot already but everything is in slow motion. Unfortunately it's not like in the movie where you can do really cool tricks to avoid the fallout.
There will be nothing when this is over (in ten years).
Nada.
I'm pretty broken ya'll. I nearly took a bunch of drugs and walked into the lake the other day. I really hurt my kids. I refused to talk to them (anyone) the whole day. NOTHING is okay right now.
I recently got a raise, so I'm taking stock and figuring out how to best position myself to buy my first home.
Age: 33, rent in the Boston metro area
Income: 100K (as of this week)
Net worth: 150K, with 70% in retirement and <5% in crypto. Company match has been re-instituted as of this month after more than a year on pause, which will more than double my retirement contributions from last year. Still no debt.
Unfortunately, the expected family gift for a down payment did not come through, which is disappointing especially as I've watched properties in towns and condo complexes that I've had my eye on skyrocket 10-15% in just the past few months. I may still be a few years off from my dream of homeownership.
I'm coming up on my 10 year "cancerversary" to when I ended treatment for stage IV cancer. I note that because at the time, I was maxed out on my credit cards, unable to fill all my Rxes because of cost, and going to a food bank thanks to the high cost of treatment even when insured and working full time. I couldn't have imagined then how much of a difference putting away even 5% for retirement and $25 a week into savings would snowball. I'm still far behind where I'd like to be, but by busting my tuches and a lot of good luck, my net worth has more than quadrupaled and my salary has doubled in 5 years. If you're looking at some of the huge numbers here and feel discouraged, keep making the best choices you are afforded and on the balance, it tends to trend upward.
From 8 months ago:
Quote:
Originally Posted by charolastra00
Age: 32 year old woman. 32 year old partner's income not considered because it's variable (he owns a small business) and he has significant law school debt
Income: 80K, professional career with a master's degree. My MBA (paid for through tuition remission) is on pause due to my current pandemic workload
Net Worth: 128K, with 70% of that in retirement. No debt.
I am anticipating a family gift of $50K to go toward a house downpayment this year as well.
Growth this year was slowed by retirement matching cut at work and no salary increase this year, paired with a pretty dramatic increase in rent, some high medical costs, and huge utility bills from working from home.
Congratulations! That is an impressive accomplishment for such a young couple.
Thank you for that. While we are incredibly excited to be in such a position at our ages, we give credit where credit is due - generational wealth. I do not consider us high achievers, career wise, but we are incredibly fortunate and thankful to be in such a position. It helps get me closer to my goal of retiring and pursuing my passion of fulfilling non-profit work.
NJ
38
Income: $330k ($300 cash, $30k RSU). My wife works part time, which brings in another $30k. She might go back full time after the kids start school, which will push us up just under $400k.
NW only $500k. Started saving really late, should be double that but I had no idea about personal finance until I was 32.
Philadelphia suburbs
M - 38; F - 37 + 3 kids in elementary school
Household income: $250k
Net Worth: ~$1M
This time last year things were drastically different. Wife was a stay at home mom for several years and I was making $110k. She went back to work and I got a nice promotion since! Now realizing how much more federal taxes we have to pay .
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