See How You Can Retire Early - Simple Math of Early Retirement (
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- čas přidán 10. 09. 2024
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In this video, we’ll show you how you can retire early . . . all with the simple math involved with early retirement. We’ll show you how it’s possible to retire early - in less than ten years. You're probably going to want to watch this video twice because it seems unbelievable. But yes, you can retire early. If you have questions - drop it in the comment section and we'll respond. We're designing this channel to create a community of input so that we can all achieve financial independence together.
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Those who are criticizing and nit picking are forgetting how much peace of mind financial independence would bring in and allow oneself to pursue hobbies and passion. Retirement wouldn't mean do nothing but being able to live life without worry of next paycheck!
Exactly! Thank you for speaking up :-)
Not only paycheck, the pressure of ratrace, stress of deadlines, politcs..
Word up!
Absolutely! I want to live my life instead of living like a machine. Work, home, work. No matter how many vacations we take, there is still this deep desire to not go to work. It is not very motivating.
Rajiv Kalia
You are absolutely right!
The bottom line is it's great for young people to start thinking about these things. Thanks for helping promote financial literacy.
Thank you!
@@OurRichJourney You're very welcome .. if you'd like I'll send you a free game you can review ... contact me if interested. Happy Thanksgiving!
Thank you!
This video and others by Amon and Christina are great because they show how ordinary people with a little discipline and intelligence can live well. It's great that Amon and Christina are sharing their story and helping others.
Thank you for such a supportive comment! We really appreciate it - made us smile reading it!!!! :)
Also, you both have inspired me in ways and can’t even imagine! Thank you. I’m doing this movement solo and I know I can do it with the help of your videos. Thanks again!
Check out our other related videos:
▸▸▸How to Live Off Investments & Retire Early | Our Seven Account Strategy: czcams.com/video/XKuky-V6eOA/video.html
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▸▸▸Older with No Money to Retire? - Here's What to Do: czcams.com/video/X813QisNkJE/video.html
▸▸▸Money Mistakes to Avoid on Your Financial Independence Journey: czcams.com/video/_6YodbKJpMo/video.html
▸▸▸Vanguard's VTSAX Index Fund: Our Number One Investment for FIRE Explained: czcams.com/video/w0ZRkM5uszI/video.html
Love you guys. This must be taught in middle and high school.
Thank you :D
I’m a teacher and I’m passionate about FIRE. I teach about this in school but the problem is that most kids don’t want to hear it. Just like most adults don’t. They want the instant gratification-new sneakers, the fast cool car, the big house so that everyone can see how “rich” you are. If kids aren’t taught financial literacy at home, it is often too late by the time they are in high school for the most of them.
@@colleen6870 "the problem is that most kids don’t want to hear it." As someone approaching 50, this statement is incredible to me. When I was in middle and high school, there was zero discussion about what we, the students, wanted and didn't want to hear. It was learn it during the semester, or learn it in summer school.
Even though I’m late in the game…didn’t make the best financial decisions earlier in life. But hoping to retire in no later than 8 years so this information is so useful for me. In 2021, my income increased and my living expenses decreased. Last year, paid off all debt including car loan except grad school loan, which I plan to pay off by Sep 1st 2021. I have an ER fund. As of this year, putting max in my 401k Roth (getting a match at work) and HSA. On top of that, just started investing in a total market index fund. Other ways I save is I buy most of my clothes at thrift shops. I use travel miles for air travel when I can. Working on cutting down food expenses and spontaneous buying on Amazon haha. You are both great mentors! Thank you!
FINALLY!! A video that explains saving for retirement in an easy way for me to understand😊😊😊 Thank you so, so much!❤
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I love your channel and have been making moves to Coast FI for the last year and a half with a family of 5. You're an inspiration and give us all hope. Im trying to go back and watch your older videos now!!
You guys are truly God sent!! Thank you for the timely advise and the time you all sacrificed to upload transformational money tips & strategies!!! .... Prayers & Blessings to you & your family 💕
Great ideas. (4:52) I would like to add that to take home $60K a year with a W2 job, one would have to earn closer to $90K before taxes. Why? After state and federal income taxes, there's medical deductions, 401 and/or deferred comp contributions, FSA, HSA, etc. Your take home pay could easily be between 65% or 70% of your gross take home.
This was so helpful! I'm learning so much about the FIRE movement and loving it!!
Thank you so much! We're glad you're finding the information helpful!
I’ve been binge watching your videos. Thank you for educating the public. You are both inspiring.
RICE AND BEANS IT IS THEN
LOL
Cooking is a fabulous skill to learn. It helps you save money and health.
🤣🤣🤣, that’s the plan here.
Thank you guys for all the free value you give in all your videos! I've been binging them all week (this was exactly what I was looking for). So excited to buy your course today and learn more. Keep up your amazing work!!!!
It is never too late to save towards retirement. I am not sure about house hacking unless having a good understanding of home maintenance and renting to long-term friends or family. My first car purchased was new but I have been using it for 11 years and hopefully can get another 5 years of use from it. Just need to focus on savings and get items you need with only a few items that you want.
Excellent point John - It's never too late to save towards retirement! :) With house hacking, you don't necessarily need a good understanding of home maintenance and you don't need to rent to friends or family. We lived rent and mortgage free for more than ten years. One of them was by working abroad (in Spain and Japan) - where we got to live in beautiful home for free (and all of our utilities were also paid in full)! :) We have a video on the multiple different ways we lived rent and mortgage free - you can check it out on our channel! :)
God bless your lovely family ❤
You guys are a wealth of knowledge! My mom is a saver, but the money in the bank is not generating anything. I hope to change that with my generation.
Have been watching your videos for a few months and just recently subscribed. Really appreciate your clarity in breaking down what can be a complicated issue. Keep up the great content! Enjoy retirement and Portugal! Cheers
Quick nitpick: the 4% rule generally refers to a 30-year retirement. For longer ones, 3-3.5% might be safer :)
Not nitpicking - great point! People should run multiple scenarios to ultimately determine what they feel most comfortable with. Some people feel more comfortable being conservative and choosing even 2%. The idea is to find a balance where you have enough money in retirement, but that you don't work longer than you have to. Thanks for the comment!
sendaiben you will have built up enough in your retirement funds quicker than the 30 year retirement which will enable you to use the 4 percent rule. If you made $1 million dollars in 10 years instead of 30 why wouldn’t you be able to use the 4 percent rule? Remember, you can still add additional monies to invest back into your investments too.
Is the 60% savings going towards investing in the max for my 401k, Roth IRA, HSA for 10 years in order to retire??
It's wonderful to see the evolution of this channel!
So glad I found your channel I’m going to watch every video!!
They're amazing!
Y'all are the best channel I have found, thank you for sharing!
I wish I knew this math plan early on, but its never too late. ☺ You guys make finacial literacy so simple to learn and understand. I'm excited as a beginner to learn so much from your channel. This is my long term goal-retire in less than 10 years. I've never been more focused now to discipline myself and remove myself completely from the FOMO "Fear of missing out" crowd and be with like minded people like you two. Thank you for the discipline. Thumbs up, subscribed and joining the journey 🎊 Will update you soon
On track to retire at 28!!!
Yes, yes, YES!!!
Thanks for all information that you are giving to us👏🏻👏🏻
Let’s do it! I’m ready!
Very helpful. Loved the video (but, in my view, you don't need the music in the background - your message is interesting enough without it).
Mal van London - So glad you like the video and thanks for your thoughtful feedback about the music! :)
Thank you so much for this simplistic video! You all are AMAZING!
Our pleasure!
thanks guys. this is very informative and encouraging. i'm on my way thanks in part to you. more power.
WOW! That is so flattering. We are on this journey together. Thank you for the inspiring words.
You guys are great! love your videos! Hope you're enjoying Lisbon!
Thank you so much for the love :-)
The both of you are amazing, thanks for sharing these videos. I'm glad I came across your videos, so much info...thanks again...and I'm subscribed to your channel....
So glad you found our channel! Thanks for watching and joining the journey!!! :)
You explained these concepts so clearly! I'm interested to go back and look at what our saving rate was now! 😃
4 % rule was applicable when 10 years bond yield was up to 5-6%.now its near 1 %.
Love this channel. keep the information coming!
Will do! More videos are coming - three times a week! :)
Housing is not one of the biggest expenses it is THE biggest expense known to man. That’s why it’s called a MORTgage (Mort= means Dead and Gage=pledge) most pay it off near death or die with the house note
You mentioned doing the tooth fairy letters, santa letters, etc as a side hustle. Can you elaborate on that? My wife is extremely creative and thought that was a fantastic idea for her.
I gave up trying to calculate our number when it came to projecting future expenses. When we'll need more medical care, idk what those numbers look like. So we just keep our savings rate up and we'll figure out our target number later lol
We feel your pain/frustration. We estimate as best we can but we make sure to plan for the worst case financial scenarios by including insurance (health, liability, etc).
This might be a silly question, but can you tell me if you would advice someone to pay their debt with their money from mutual funds? It's a mutual fund tied to a life insurance. But not a retirement one. Thank you & congratulations! I am starting me debt free journey & you guys are so inspiring.
Super late check in from the DMV.
My guess is the savings rate is post-tax, however I wonder how to factor in pre-tax retirement savings in the savings rate. I guess if you leave that out you can dramatically increase lifestyle or estate leavings after reaching tax-advantage retirement age. What is your understanding?
Great information thank you very much
Wow your channel has grown so much!
I started medical school at 30 so I’m not sure why I watch your videos, besides seeing financially stable happy black people. I guess 50-55 would be early retirement for a Doctor. I’ll travel and provide free healthcare once or twice a week when I retire.
Good question/statement. I guess the assumption is we drop larger amounts in a shorter time since it takes so long to start getting a full doctor pay check. Not to mention juggling medical debt in all of this is a major concern. It feels incredibly uncomfortable to invest large amounts (up to 70% of income) monthly, but I'm personally try to get use to trusting an index fund- slowly.???
Great information thank you for the video.
Thank you! We'll keep it coming!
I'm from the UK and watch your channel diligently..I'm only 5 yrs away from retiring at 60..currently have £250k in as +p 500 etf vanguard (vusa) should I turbo charge by pound cost averaging each month maxing out my £20k tax free allowance for next 5 years ..I also receive an immediate pension at 60 which would be a cash buffer ..your thoughts would be appreciated
New sub here! great video to show everyone about fire
Aww thank you! Spread the word!
Hello, im looking back at all your videos. Do you guys have a video on whether to invest in a Roth 457 or traditional 457?
ok i am ready for this and i am starting learn from your very oldest video.
This doesn’t really work for ppl like me only bc I rely on social security and have a part time job right?
This is great. Spanish subtitles please ❤
I think it's available, isn't it? Unfortunately, my Spanish isn't good enough to provide proper subtitles! :(
I enjoy watching your videos and have been for some time now and am all in on the FIRE movement. But as you know it can get very overwhelming when starting out. My question is now that you have your FIRE number, debt free and you are maxing out your retirement and Roth contribution, where do you put other moneys left over? And how much cash should you really have on hand? Thanks in advance for your response
First of all, I"m a big fan, and I watch your videos and learn so much! But on this one, I am confused. I realize this is an earlier video, but the two examples you gave of two families with the same income doesn't compute. If you make $60K, your GROSS income is $5000, not take-home (net). Your net income per month on $60K per year is much, much less. It can legitimately be only about 45% of that gross ($5K/month) figure (insurance, retirement, health savings, pre-tax expenses). So I am sorry, but I don't get how you arrive at the second family's options when the figures are not right. Otherwise, you guys are great and an inspiration to people young and old! Stay safe and healthy!
Good and informative, but you have not talked about kids education which is expensive as well.
Thank for the suggestion. We actually have a video on that topic that we plan to release. Please stay tuned....
about life insurance, cell phone service /the basic, at least/,tuition. even on section 8 one have to come up with the diference, i dont understand 0 $$ on housing expence,
Do you leave your emergency funds in a high yield savings account and invest the remaining monies ?
A money market account and CDs! :)
Sir where to invest money in Canada for 4 % return &safe.
Thought I had seen all of your videos.
I'm confused. Can somebody please clarify? Are they saying you can retire early based on a savings of $3,350 x 9.8 years for the rest of your life?
Hi , can you talk about where can I saving money after maxed out on 401K ? Roth and traditional, I don’t want to buy a house in USA , moving back to Thailand 2.5 years thanks
I like this idea but I still don't understand the math fully. Essentially a family of four only needs to save $3000 per month, for 10 years. Then, they can retire?
Savings rate = savings/ income.
Thanks for the video. How about school expenses of the kids? college?
Great question. We've figured out some great hacks for this and we're planning to release a detailed video....hopefully in the next couple of weeks.
Love it
Awesome video keep it up
How much of my savings should go toward investments?
Thank you so much for your info
Do you happen to know trustworthy real estate investment trust in UK?
I am a working parent 47 that really want to do this in 10 years.
Thank you so much
I am good at savings, it’s investments that this Mum struggles, I prefer real estate. Where do I start? I am in uk
Great information.
Thank you so much! We appreciate the comment! :)
What about when a bear market comes around and you can withdraw 4%? What if your portfolio gets cut by 50%?
Great question. And very timely considering the market has been going lower lately. The way to mitigate this is to have a cash reserve to withdrawal from. Considering average bear market inly last about 18 months, vs the average bull market of 9.5 years, you could have 2 years of living expenses in cash reserves and probably be fine. When the market recovers, as it always does (historically), you then replenish your reserves during the bull markets. Also note that there will be many more years of big gains , especially after a big fall like you describe. If you look at recent history the stock market has returned well over 10% since the last crash. And If you're only living off 4%, the extra return will grow your portfolio and you can use that additional growth the fund your cash reserves. Hope that makes sense. Great question!
Please teach me how housing cost is 0?
We did a video on how we've lived rent and mortgage free for more than ten years. You can watch it here: Family Lives Rent Free for Ten Years: czcams.com/video/rEq1U5-BKd0/video.html
Very clear, good job guys and no bs like most of what I’ve seen. The only factor I would recommend adding in is inflation. If you spend your dividend then you will lose to inflation roughly 2%/yr.
Thank you and great point! Thanks for sharing with the community!
I love your videos, and I'm learning some good stuff! I'm sad, though, that your FIRE plan is really, really specific to you and only a handful of others for several reasons: 1) not many of us can get a job with a company that pays for our housing and utilities -- that's a very specific sector and probably requires a specific degree, 2) even if we could get that job, many of us are unwilling to move away from the support of our families and communities, 3) this plan doesn't account for the regular expenses some of us find necessary for our children's school supplies and activities, and 4) it doesn't include tithing or other charitable giving. That rules out a LOT of us. I can't justify crossing my regular charitable giving from my monthly budget and moving those funds into my own savings.
Do you have tips for how to continually give 10% or more per month and still retire early? Is it even possible on a middle class wage?
Katy Fittro these are things that you will have to figure out yourself. Maybe you can move around something else in your expenses and take from that fund say your entertainment fund and use that money to fund for tithes. I’m not trying to be rude but excuses is the main killer of our dreams. You have to find your why. Perhaps you are comfortable and don’t want to cause an upheaval in your life to have financial independence. But if it’s something that you really want, you will find ways to accomplish it. I live in my vehicle and that has cut housing costs for me. I’m single and my children are grown. I was paying $2600 dollars per month for a place here in San Diego and then one day I thought to myself, why am I paying all this money?! This money can go towards paying off my debt, savings and investments. I want to be financially free. And if it takes a little discomfort for that realization to become a reality for me then so be it. Know your why. But if you make excuses for why you can’t become financially independent and retire early, you will never become financially independent. And that’s fine. Do what makes you happy
What about inflation as your annual expenses would likely increase ?
The 4% rule takes into account inflation! :)
Awesome video guys
Thank you!
Couple goals
We heart you!
Our Rich Journey love you both also
Question! Does the total amount of investments include retirement accounts or only more liquid accounts? I know you cant take from them yet but since you do eventually I'm not sure!!
If you're referring to calculating your early retirement number to withdrawal 4%, it includes all accounts....retirement and non-retirement. As far as taking from your retirement accounts to support early retirement, you dont have to wait till you're 59.5 if you use the Roth conversion ladder strategy we discuss in this video: czcams.com/video/QIotmcf8FGc/video.html
@@OurRichJourney ah I missed that video- just watched it! Thank you!!
Great! Also be on the look out for a video this week or next on our draw-down strategy. We break down, in detail, how it will work to withdraw funds in early retirement. I think it will be really helpful :-)
@@OurRichJourney cant wait!!
What about taxes and inflation? In Germany we pay 25% taxes on profits from stocks and similar investments. That means you're left with only 3%. If you expect the inflation to be around 2%, there's not much left from 4% interest. Greetings from Munich, Germany
Great to hear from our friends in Germany. We actually got engaged in Germany :) The 4% rule does take into account inflation but not taxes. Taxes are considered another expense that you'll have to pay from the 4%. However you raise a really good point; which is tax optimization strategies. I cannot speak for Germany but tax laws treat investment income favorably. And in some cases your rate can range as low as 0 to 12%, depending on the account you withdraw from.
Thank you for your quick response
How long did it take you two to retire? (For personal reference!)
Hello, fabulous videos, thanks you very much for the content. I have a question on how you correlate the savings rate with the # of years until retirement. I even built a spreadsheet...
I'm assuming you're compounding the annual savings at 4% up until the total value is equal to 25*annual spending, right?
Yep! The 4% = 25 x the annual spending. Also, we LOVE spreadsheets!!! We have our number (25 x the annual spending rate). Based on our annual savings and investments, we've calculated that it will take about three more years until we reach financial independence and early retirement! :)
@@OurRichJourney Thanks for the response. Are you compounding it monthly or something? For the 'spend thrift' family I came up with close to 58 years. The other scenario worked out correctly though.
Also, while I have you. A conundrum I see with this early retirement strategy is retirement accounts. You've mentioned in other videos that you max out your savings in your 401k's and IRAs, however, doesn't this lock up your cash flow until you nearly 60? Maybe a good topic for a video?
💚🙏🏽👍🏽 wow thank you
What do you do the your housing when you retire
Does the 4% rule still apply if you are getting a government pension for life. My pension is going to pay me 3,000 per month for life. Do I still need to have 25x expenses ??
It depends on when the pension is available? Our pensions wont be available until we are 57. So if we retire at 40 then we do not include it. Have you seen our of our latest video (czcams.com/video/5i_r8KRns_g/video.html) on "FIRE - How to Retire Early & Not Run Out of Money" ? We gives a good example how your drawdown plan will need to be phased because of pensions, and social security. Check it out. But lets say someone is collecting their pension now. Lets us an example to illustrate this point. Billy's expenses are $80K annually. Billy served 20 years in the Navy and will receive a 3,000/month pension or $36K annually for the rest of his life. Billy can subtract $36K from $80K to determine that he will need to $44K annually from his portfolio to cover expenses not covered by his military pension. So Billy's calculation would be 25X $44K = $1.1M. Thanks for question.
Our Rich Journey got it. Thank you 👍
Is that savings per month or per year?
Hello I am new to your channel. What advice you have for me to retire in ten years if I don't have a retirement account but savings I do. Thanks for your feedback😊
Thanks for asking. In fact we did a video on this specific subject that may give you some great ideas. Here is the video: czcams.com/video/X813QisNkJE/video.html Since you've been saving you're in a great position but now you have to start investing. Check out the video and let us know if you have any questions.
It is highly encouraged for you to open a 401k or Roth and start investing as much much as possible into the account. These retirement accounts such as the ones I mentioned, as well as HSA’s are tax deferred accounts, meaning the money isn’t taxed when it is taken out of your pay and put into the account. Roth IRA’s are taxed before the money is taken. There are pros and cons to both so I’d suggest reading up on it. But if your employer offers a 401k or other retirement accounts, I’d opt in immediately. Depending on what age you are, it would be suggested that you start putting as much money as you can into your retirement fund to grow your account. Also investing in stocks, EFT’s and bonds will also be VERY beneficial. Having a diversified portfolio would be more advantageous for you in the long run. If you are 30 and over I’d suggest investing at least 50 percent of your pay into these accounts so you can be where you need to be when you retire. Also make provisions to save 12-24 months of living expenses as a buffer with your investment accounts. Try to also keep $1000 of cash on hand and another $1000 as an emergency fund in the bank. This couple have plenty of videos here to help as well and seeing that your comment is 8 months old, you may have already been watching their other videos. Hope this helps somewhat. Cheers!
I'm really confused about what you mean when you say you are retiring early... Does that mean you saved enough money that you never work on making more money ever again? Or do you mean you invested enough to make enough passive income to be able to stop working a 9-5 job? I really need clarification on this!!!!!?
Also the 4% you pull out every year... how does this come into play when you consider inflation? On average how much does your wealth earn you annually across your entire portfolio? 8%? And then you pull out 4%? Does that 4% of investments include both selling shares and earning dividends?
My fire number would be £166,666 and i have £708 in my account. I want to retire and do a job that I like instead of the crazy job that I am in. What do I do?
The goal with FIRE is to save more, make more, and invest more! And you don't need to make more in your current job - you can start doing side hustles. Check out our side hustle playlist for ideas!
Yes, please explain the 0% in housing? How did you do the house hacking?
Great question! We show 5 ways to live rent free in one of our first videos(Family Lives Rent Free for Ten Years). Here is the link : czcams.com/video/rEq1U5-BKd0/video.html Let us know if you have anymore questions.
So I did watch your house hacking video but you didn’t explain what type of employers are willing to hire internationally.
@@thefrugalista9143 Do you want them to get you the job also? Put some elbow grease into it. Don't just ask for things.
Hello How can I join the community? I would love what you guys preach
Great video! Can you do one on how you do this with kids?
YES! WILL DO! That is a great idea. We're in the process now and it take some special planning.
@@OurRichJourney wonderful! Looking forward to it!
Hi, I really enjoy watching your videos. I am 23 and I am on my journey to live a FIRE life. I have couple questions about retiring early. I think the 4% rule is great but the question I have is where to put the "Nest Egg"? 403b and Roth's cannot be accessed until 59.5 so how/where do you build a nest egg that can be accessed and used to live off of when you are in your 30's or 40's? Index Fund? Mutual Funds? Rental properties, a side business... some sort of asset. Following that - with retiring early what do you guys recommend for health insurance? How do you calculate costs for 30 years of paying 100% of your families health insurance because you've retired early? Again I love and appreciate your videos, hearing and learning about the journey. I would love to connect and hear back from you.Adrian S
WOW! Its great you’re asking these questions at 23! We’re so impressed. The answers can get very long so we’ll give you some general information and ask you to do more research. But lets get you started with a couple of points of reference. To your first question. Like most pursuing FIRE, we are still maximizing our retirement accounts to take full advantage of the tax benefits and employer matching. We then put whatever is remaining into a standard brokerage account made up of total market index funds (ex: VTSAX or S&P500 Index Fund) and individual stocks. We have a cash emergency fund also. We don’t have one account that is a “nest egg” for early retirement because the 4% can be based on retirement and non-retirement account (i.e our total assets). This is because you can in fact access retirement accounts earlier than age 59.5, and without penalty, by doing something called a Roth Conversion Ladder. When we learned about this it blew out minds.LOL. Google it and add “Early Retirement”. Your 403(b) is kind of unique but this article explains how to do to the conversion with that type of account. www.fool.com/knowledge-center/can-a-roth-conversion-be-done-from-a-403b.aspx
As far as heath insurance, you couldn’t have asked a harder question. Most early retirees approach this differently. We plan on living abroad so heath insurance will be a lot cheaper and possibly free if we retire in Portugal or Spain. However, lets say we decide to stay in the US, then we would consider the options described in these two articles:
www.thebalance.com/retire-early-and-lower-your-health-care-costs-4152065
www.investopedia.com/articles/personal-finance/080516/top-3-health-insurance-options-if-you-retire-early.asp
Again, great questions. We are so excited you are starting so early. If you’re able to save and invest at a high enough rate you could FIRE before 30!
WOW!
@@OurRichJourney Wow! Thank you I will definitely read and look into all of your recommendations. Is there an email that I can connect with you potentially more in the future?
@@adrianschuh7302 The best was to connect is via Twitter (@ourrichjourney) or Instagram (richjourney
). You can send us a DM!
You guys retired at 39...what age did you start working?
After we graduated from college! :)
awesome...* so how old were yall? I'm tryina work my plan out practically
We are recently retired 🤗 and newbies to CZcams 😎🙌
Tuition loans don't equate in your expenses?
Louis Nguyen they have those funds saved up already separately
I am looking for a sponsorship for my daughter degree education any assistance.
May we ask what you mean by "sponsorship". That term is unfamiliar to us and we'd like to clearly address your question.
Hi, Love this video. ... Let me clear one thing, what do you mean by 25 times of annual expense, is this annual expense include " PAY YOURSELF FIRST
( SAVINGS AND INVESTMENT) or not ....Please guide me.
I don't want to seem rude, but let me ask you a question: where do you invest your savings?
Not rude. We actaully share how we invest in this video: czcams.com/video/LYZZf_iuTEk/video.html (How to Start Investing & Our Financial Independence Plan). Thanks for the question and let us know if you have more.
But if you make $60,000 a year, dont you pay taxes so you dont take home $5000 a month really. But great idea, the concept is great.
TRell454 the budget is based on $60k or $5k take home. Taxes would have already been taken out.