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Here is the breakdown of the $60k budget my wife and I had last year
Our household income was $400k
We saved & invested the difference💰
Barbell Financial 💪🏻💰
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Barbell Financial 💪🏻💰
@BarbellFi
Your daily dose of finance, fitness, and fatherhood. Home Gym Enthusiast | 13 Years on Wall Street
Lift Heavy 💪🏻 | Run Far 🏃🏻| Stack Hard 💰
- A buddy from college reached out Got laid off as a manager at Meta Made $280k & can’t 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 He’s usually cocky but sounded scared You never think it’ll happen to you 😔
- “Inheritance” is such a dumb idea Pass on your wealth while you’re alive Kids don’t need help when they’re 60 They need help when they’re 30, paying debt, buying a house, & having kids 💸
- Once you hit $2.5 million liquid Have a 25 year roof on your house And drive a used Toyota Corolla No one can tell you what to do 🙂
- I’m 34 & always said I didn’t want any kids My son is a week old today & I now can’t believe I ever thought this Not wanting kids is the biggest lie you’ll ever tell yourself 😳
- My wife’s 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 😳
- The only good mortgage is a paid off one Our biggest monthly expense is gone 💰
- 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? 🤬
- My Roth IRA has been liberated 2 years of contributions wiped out in 2 days 😂
- I could sell everything & have $2 million Put it all in a 30 year treasury yielding 5% That’d be $100k/year in passive income I’d pay zero state tax on any of that And get my $2 mill back after 30 years This is so damn tempting 🤔
- I love it when people say: “I have zero debt except my mortgage” “Which has 500k remaining” So you’re $500k in debt 🙂
- My friend’s mortgage is $3,500/month Just took a big pay cut after losing his job His payment is now 50% of his income And I’ve never seen him so stressed Told me I was dumb for paying off my 2.6% mortgage last year 😬
- My wife is 34 years old & I’m 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 🤑