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If my house is worth substantially more than all your assets combined,
explain to me again why it “doesn’t count” in my net worth.
DividendBoomer
113.8K posts
DividendBoomer
@BoomerDivvies
🇨🇦 business owner. CRE NNN rental income 📈. Achieved FI but won’t retire yet or anytime soon. 180k+ PADI.
Vancouver, British Columbia
Joined March 2023
- Sorry to say this but… $200k income is now middle class. A person making $200k is taking home about $10,500/mo after tax. Median spending by US family with two kids is $8,600 This leaves $2k for saving, investing and special purchases. Middle class.
- Replying to @wifibiztipsHaving 85% of your population effectively being slave labour helps too.
- Replying to @CollinRuggHe's telling us what the actual situation is. And you're trying to spin it.
- If you’re under 35 and began investing after the Great Financial Crisis of 2008, then you may not be as great an investor as you think. The past 15 years have been so easy for stock investors. But… the 12 years from 2000 - 2012 had a 0% return. Can you even imagine that?
- Replying to @TreasuryBonds1 @DecadeInvestor and @HeroDividendIt was a ripoff in the ‘80s.
- Everyone talks about guys making $60k investing and getting rich… while the guys making $200k+ end up broke. Nah. The guys I play tennis, pickleball, hockey and golf with are mostly doctors, dentists, lawyers & biz owners. And are rich. Income matters, that’s reality.
- Replying to @elonmusk and @realDonaldTrumpHow about you send us a letter explaining what you got done for Tesla last week. And explain why that would entitle you to a $50B pay package.
- Replying to @ESPNFCHe left that bench on a yacht to go sit on the Netherlands bench for two weeks.
- Boomers didn’t stumble into wealth. They bought houses when everyone else said, “Why take on that much debt at 18%?” They hung on, did repairs, paid taxes, raised families and played the long game. And now people call them lucky.
- If you save $20 every day it will be: $20 x 7 =$140 per week $140 x 30 =$4,200 per month $4,200 x 365 =$1,533,000 per year. Everyone should be doing this if they want to be a millionaire. It’s not hard.
- A couple has: - $700,000 house with $450k equity - 2 paid off cars worth $50k - Investment portfolio worth $550k - Chequing/savings worth $30k - Kids educational accounts worth $50k ➡️ Do you really consider this couple to be millionaires? Or just middle class?
- I have a 90 y/o aunt who lives in a $4M house. She’s never travelled. Never goes to nice restaurants. Drives an older car. My cousin lives there too. And he owns his own $2M house that’s rented out. Also never travels or spends money. I remember as a kid they didn’t really
- $1M is not enough for retirement. I'm not sure what your expectations are for retirement but if you expect to travel and enjoy life and be financially worry free then you're gonna need more than $1M.