Your daily dose of finance, fitness, and fatherhood. Home Gym Enthusiast | 13 Years on Wall Street
Lift Heavy πͺπ» | Run Far ππ»| Stack Hard π°
A buddy from college reached out
Got laid off as a manager at Meta
Made $280k & canβt land a new job
His mortgage is over $6k/month
Said he runs out of money in 3 months
Has a wife & 2 young kids
Heβs usually cocky but sounded scared
You never think itβll happen to you π
βInheritanceβ is such a dumb idea
Pass on your wealth while youβre alive
Kids donβt need help when theyβre 60
They need help when theyβre 30, paying debt, buying a house, & having kids πΈ
Iβm 34 & always said I didnβt want any kids
My son is a week old today & I now canβt believe I ever thought this
Not wanting kids is the biggest lie youβll ever tell yourself π³
My wifeβs friend just resigned from her job to become a stay at home mom
Works in HR at the same firm for 8 years
2 days later they offered a raise from $28/hr to $50/hr & reduced hours π³
I pay $9k in taxes for a paid off house
40% of my income is withheld for taxes
6.625% sales tax for everything I buy
Yet trillions of $$$ keep getting printed
So why are we being taxed to death while they can just print money? π€¬
I could sell everything & have $2 million
Put it all in a 30 year treasury yielding 5%
Thatβd be $100k/year in passive income
Iβd pay zero state tax on any of that
And get my $2 mill back after 30 years
This is so damn tempting π€
My friendβs mortgage is $3,500/month
Just took a big pay cut after losing his job
His payment is now 50% of his income
And Iβve never seen him so stressed
Told me I was dumb for paying off my 2.6% mortgage last year π¬
My wife is 34 years old & Iβm 35
Our retirement is already secured:
My 401k: $335,000
My Roth IRA: $210,000
Her 401k: $206,000
Her Roth IRA: $70,000
Marry right & build wealth together π€