The Dangers of 50/30/20 Budgeting
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- čas přidán 25. 06. 2024
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I’d like content around net worth and how much to save at what age to retire with dignity. Alternatives to super for those of us who don’t want to work until they are in their 60s.
I’d also enjoy content about paying off your home early as a single income. Plus an analysis of using salary sacrifice to get a car (compare lease vs buy but only using salary sacrifice) how much does it really cost. What is the actual interest rate you pay through either maxxia or pay wise.
I like the thousand dollar portfolio updates and additional income videos they are great inspo
your method is very reasonable -
but these guidelines are the max for each spending category...
there is also a book that gores with the guidelines
obv save & invest more if you can. people should save and invest as much as they possibly can. - financial freedom can be the only goal - does not need to be for "stuff".
my needs are way less than 50% - more like 30%-35% - so my savings are 70%+... as far as experiences... i have traveled all over the world and had many memorable experiences... none of it comes close to the experience of pure financial freedom ... knowing that i work only because i want to and not because i have to - is a priceless daily experience of precious peace of mind.
now that i have financial freedom -and since i am not interested in "retiring early" -presently i save to invest in speculative endeavors and creative ideas. these are my "wants".
i recently bought a 150 year old run down beach cottage for cash. we are fixing it up ourselves - learning all the skills and making it a very unique upcycled and cozy space inside and out. when we get hot we simply dip into the ocean to cool off. it is a creative project and a vacation all in one.
So you keep your emergencyfund in the market?
I’m 52 hoping to end the rat race by 60 with above $1M. I know money is a liability to be exchanged for assets with real value like real estate (properties for rent) stocks (dividends) bonds (interest) But, what is it with bitcoin? I hear a lot about it and I'd love to diversify my portfolio.
bitcoin does not pay any yield but will reward you with growth that you can't find in any other asset class
look at the charts, bitcoin has outperformed every stock and banking product ever developed even after multiple pullbacks over the last decade. not a financial advisor but I know what i'm saying
The key is diversification. Personally, I delegate my investing to an advisor, cos my job doesn't permit the time to perform market analysis myself. Thankfully, my once ago stagnant portfolio has now 5X in barely 4 years, summing up almost 7 figure as of today.
This is interesting. I heard a lot about the same person not long ago, please how can I contact her?
Well the name is 'Evelyn Infurna'. Just research the name. You'd find necessary details to work with a correspondence to set up an appointment.
60/20/20 is more realistic and that's outside of putting %5 pre tax into super. That's also when things don't not go to plan in life which happens 🫣🎉😂