1lastnerve
Senior Member
- First Name
- Todd
- Joined
- Oct 1, 2020
- Threads
- 7
- Messages
- 104
- Reaction score
- 165
- Location
- Central Indiana
- Vehicle(s)
- 2020 CTR - Black
*Short version - Pay yourself first!Meh....I find that when I commit to something like I did with my Type R, which was a great purchase, it gives me extra motivation to continue to kick ass. And it's not like I dont need a truck....
Made 2 g's today and a solid new business connection. I am a boss, outwork everyone I associate with and am the best at what I do. If I want a TRX I'm not worried about it. But thanks for the unsolicited advice.
Rich = Lots of money to spend
Wealthy = All the money you need to live your lifestyle without having to work for it
There are lots more rich people than wealthy people, and the difference is night & day
I made 2 g's yesterday as well (and good for you - seriously! ) , actually I made a little more than that, and I made that EVERY day last week. AND I've been going at that clip for about the last 15 years. My portfolio generates more than that, but obviously that goes up and down. I'm not saying that to brag, but I want to point out that when you have a wife, kids, mortgage, college, retirement to fund, you aren't nearly as rich as you think you are. I've lived a comfortable life, and driven nice cars (nothing extreme - the Type R is the least practical car I've ever owned but at 59 its my toy, and you're correct it is a great purchase for fun, and financially for extremely low depreciation)
My unsolicited advice whether to you or anyone else reading, is that building wealth is what you need to do NOW so that when you're my age the retirement issue will not be a pipe dream. A $1M retirement fund generates about$40-$50K safely a year in retirement income. If you're used to spending $100k-$150k - $200k or more per year then you'll need to have 2,3, or $4M in a portfolio to sustain that. I'm pretty comfortable with my lifestyle, and have no desire to live on less when I retire, I also am getting to the point that I don't have near the energy to expend on working. Trust me, you will come to that point later in life. You won't want to reduce your lifestyle either.
Go out and google some retirement calculators and see what kind of annual contributions it requires to meet that goal. It's way more than what your typical company matching 401K plan does.
Again, I don't mean to sound preachy, and I'm not anti fun, but life is chock full of sacrifices. In the long run, it's much cheaper and MUCH easier to make them when you're young, than when you're old. That's $.03 for the advice, but since it's unsolicited please have it for free. At some point sooner or later it will sink in. I'm absolutely positive it will. If you're a boss, and the best at what you do, then dammit pay YOURSELF first.
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