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Here are some awesome apps for investment:-
1.Groww
All in one app- investment in Mutual funds,stocks,IPO,FD,Gold.
Link:- https://app.groww.in/v3cO/61bcf14
2. Cred
For managing all credit cards at one place. Think as someone is paying you for your credit card bills.
Link:- https://app.cred.club/spQx/ce090339
3.INDMoney
Invest in foreign stocks and efts. As you need to diversify your portfolio.
Link:-https://indmoney.onelink.me/RmHC/9cb8da54
4.WazirX
Its my favourite for crypto investments.
Link:-https://wazirx.com/invite/j9kk5ted
5.12%club
For parking your emergency funds and getting 12% p.a is exceptionally good.
Link:-https://twelveclub.onelink.me/2Cmd/25922c
Never put all eggs in one basket.
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Wife and I were 34 before he hit our first $1M. Turned 40 earlier this month and today we passed $4M. My guidance FWIW:
1) Save as much as you can early - compounding becomes crazy after the first million
2) Figure out how to earn more - you all are ahead of us but after my MBA was able to pivot and make multiples of what I did starting in consulting
3) Still have fun along the way - while it’s nice and secure now there’s definitely things I passed up on that I regret now when I was really focused on FIRE
You’re in a very good spot for your age - keep grinding
My wife and I had negative net worth at 26 and have nearly $4m a bit over a decade later. As your earnings increase, try to maintain the same lifestyle (some creep is okay, but keep it reasonable) and plow the rest into savings. That’s really the key toward accumulating.
Your family income must be $400k+
Not to sound negative, but FIRE for most people in your 30’s is not realistic, as “normal” retirement is 65. It’s a great mindset and you can aggressively invest and reduce your expenses to make solid progress towards FIRE. 🔥
Good point! It was a dream of mine since I was 18 to at least be work optional or have $1m by 30, but I’ve been stuck around $200k NW for nearly 2 years due to layoffs and felt so discouraged… I’ve always had a high entrepreneurial drive / a lot of ambition, but can’t see myself working corporate forever, but it’s all I know now and I’m scared to do anything else, but with a cushion, I feel like I could take more risks and still feel okay in my 30s
Subject Expert
Others made it by running projections with their specific situations. Have you done that with your situation? You say it feels long. Do you have numbers to live alongside the feelings?
When do you want to retire? Have you planned what to do once you do?
How is your $207k annual income divided between taxes, spending, and saving? Will you spend about the same amount in retirement?
Is the $230k your retirement portfolio? If so, congratulations; it is far above average for your age.
With a few simple numbers like this we can estimate your projected time to FI, and then you can see how you feel about that specific age, and reflect on whether to adjust. :)
With respect to less expensive walkable cities, consider Chicago and Philadelphia as options.
You will never feel secure with your job. Keep learning, earring, and investing. As an immigrant with zero English when I came to the US, my dream was not go be hungry when I go sleep. I worked hard and invest. I can only dream of $1M NW. 20 years of hard working and investing, my NW is approaching $6M. You can and will be on your way to FIRE soon. It is a journey - not a race. Best of luck! 🤞
Coach
If you can save 20% of your take home, you’re ~15 years away from fire.
If you can save ~50% of your take home, you’re less than 10 years from fire.
Compounding is magical. Save aggressively now to live comfortably later.
Subject Expert
These numbers sound fake. Where did they come from?
Subject Expert
Earn more
Spend less
Plan to work longer
Figure out which of those you are going to do.
You are earning and spending more than 99% of the world’s population. Retiring in your 30’s is a massive luxury,you can do it, but very few do.
Personally tracking to retire around age 50
You’re doing great. Keep it up. You will likely find you don’t want to retire in your 30’s, but you will be so far ahead of the curve that you will have options for your life that 99% of people do not have. In hindsight I’m glad I waited until my 50s and had kids and a successful career that I intentionally cut short. Don’t shortchange your life for wealth accumulation.
Where are you looking to live?
Where in Pittsburgh is walkable? Shadyside?
Not sure if this is very unrealistic, looking for guidance on how everyone else made it…