Go Cry A river Some Where Else! They are both in their early 30s and live in New York City, the most expensive city in America! I’ll show you how to purchase my favorite preferred funds for 7.8% and 8% yields in a minute. Add to that the savings they can generate by trimming food expense, fuel expense and others, I believe they can easily hit 20% savings rate. Education expenses are much different than when my wife and I attended college back in the ’80s. But not everyone’s buying it. If you look above, we said the house is only worth 800k now and we paid a little less than that. Child care tax credit: 1200 -> ~104K. Society won’t acknowledge the sacrifices you made. Get free refinance or purchase quotes in minutes. A case can be made that $500,000 (or even a bit less than that) is enough for retirement if you are used to a frugal lifestyle. Either save more, change careers, or take some calculated risks. Just bought eggs from a suburban Whole Foods and still don’t recall seeing any for $7+. Today, it’s almost impossible to find good stocks that pay a quality yield. But I bet the value of your new found freedom will far surpass any money you’ll forsake. During this time, I paid off all of my student loans and put a down payment on a condo. Reynolds, 44, and … In other words, they are living comfortably, but not large. for $430/mo. There is no way that that is their food costs when they also have 2 date nights every month. Given the high cost of living in big cities like NYC, is there any wonder why investing in the Heartland of America is becoming a more popular move by savvy investors? Didn’t you see where I did the break down of what the parents could and should do for clothing? With tax reform in 2018, only $10,000 of State And Local Taxes (SALT) is deductible per person or per couple. If you haven’t refinanced or check the latest mortgage rates, you can get a free quote from Credible, one of the largest online lending platforms today. Let’s consider $500,000 as a nice round figure for a retirement nest egg. The best management teams buy mostly floating rate bonds – which will buffer their portfolios as interest rates rise. Terrible time for REITs, right? You’ll be hard pressed to find a dividend aristocrat with a yield above 3% or a P/E ratio below 20 – evaporating business models or not! It would be nice if the US education system was practically free as in Canada or Europe, but it’s not. Luckily we knew that our children would likely attend private colleges so we started saving when they were born and have at least 85% of their college expenses in 529k’s. Lessons (little gym) 1,000 Many (if not most) of our family and friends have gotten alot of handouts. I graduated from Cornell University and soon thereafter left Corporate America permanently at age 26 to co-found two successful SaaS (Software as a Service) companies. All 5. In fact, three prominent funds - the Gabelli Dividend & Income Trust Fund’s (GDV), the Calamos Strategic Total Return (CSQ) and the Eaton Vance Limited Duration Income Fund (EVV) - all outperformed the market during this 2-year span! And you’ll never have to touch your nest egg capital – which means you’ll never have to worry about stock prices. 10) A 22 year old rookie professional basketball or football player and his product manager wife. By Ari Notis. My wife as able to double her life insurance coverage for less with PolicyGenius in 2020. Ryan Reynolds and Blake Lively kicked off the holiday season in quite the generous fashion, donating $500,000 to Covenant House. We do not live a spartan lifestyle though. Roundtrip airfare for four to debt-laden Puerto Rico costs another $2,400. 1) A couple 30 year old lawyers in their fourth year at a big law firm, 2) A couple 32 year old second year associates at an investment bank after business school, 3) A single 31 year old VP at a private equity shop two years out of business school, 4) A 35 year old senior project leader at a management consulting firm and her schoolteacher husband, 5) A couple 35 year old doctors (cardiologist and anesthesiologist) three years after their fellowships, 6) A 46 year old Chief Marketing Officer and her 52 year old police officer husband, 7) A couple online marketing consultants in their mid-30s, 8) A 41 year old super frugal personal finance blogger who preaches riding a bike, doing your own home construction, and living off $30,000 a year or less and his wife, 9) An engineer at Google who has been there eight years and his partner at Salesforce. 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