For any of you real estate investors, what tools or sources did you learn from when getting started. Can’t find a mentor currently so want to find some highly recommended books or videos. If focused on the tri-state area (NY, NJ, Long Island mainly) that would be even better. My hope is to buy and rent out a apartment while also owning a house and house hacking that by renting part of it out. Trying to understand all the steps, traps, and how to find if it’s a good investment.
69 & $420
Pro
All day, every day.
29, $100k. Probably low compared to some but I've only spent 1.5 years in consulting and my goal was to have 100k before 30👌
Same here so I guess I’m on track
3yo and 1 gazillion
Pls share your secrets with us
Chief
45, already hit my number. Just killing time for the next 15 years, maybe 10.
That's amazing @the former Deloitte colleague (I'm assuming Deloitte). Key takeaway for me is being DINKs
27, 99k. Low because I started aggressively contributing about 2 years ago. I grew up with no personal finance education and my parents were uneducated to teach me. I didn’t even understand what 401K was a couple of years ago and was embarrassed to ask. Only 2 years ago was I able to afford to max out my 401K with company match.
That’s not low, don’t be a jerk man
Pro
24, <2 YOE
13-14k in 401k
14-15k in Roth IRA
not much but doing okay
Slow & Steady wins the race
Why would I contribute to a 401k when AOC is going to pay for everyone’s retirement?
Chief
Can you please share your source for this statistic?
49 $1.5M. Maxed out from day one but am a horrible investor. I Never my hit crypto, appl, google, amzn, msft or any of those at their start. I have lived through a few recessions. My advice is to wait for the next big one and buy everything you can.
Wife stays home with the kids so I never hit that lotto either. Although if you meet my kids you’d say I did.
Its all going to be ok though. Our plan is to get me back in shape and sell my body on the streets.
I support the corner side hustle
35 and -300k. Margin account yolo is life. Yes that’s a negative.
Billionaire?
Chief
30 - $0
You are not alone friend
41 and $140K
That’s about where I’ll be at 41
46
$1.1 Million in traditional 401K and $125K in Roth IRA
Spouse has $525K in traditional 401K and $125K in Roth IRA
My goal is to slowly convert 401K into a Roth 401K without paying Uncle Sam too much.
D5 - When you leave your employer, you can just rollover to a Fidelity IRA or any other institution. Conversion from traditional rollover IRA to Roth IRA details are here (link below). You will have to time and tailor as per your tax circumstances.
https://www.investopedia.com/roth-ira-conversion-rules-4770480
$400k in 401k, $1.3M in IRA, $400k other retirement investments. Married, 35, 3 kids
Kpmg8 probably rolled the esop payout into it
Chief
Old and plenty
That sounds like a candy bar, but nice 👍
27M @ $337K NW
- $94K in 401K
- $8K in Roth IRA
- $35K brokerage
- $17K cash
- $183K investment real estate equity
Single. HCOL. No inheritance. No student loans due to financial aid (grew up poor).
@A1 - That’s true in general, but I’d also like to think that it was due to other circumstances like starting in consulting out of college.
4 holo charizards and some kick-a beanie babies that’ll pull me through.
As long as they are 1st editions I think you’ll be good 😂
22 3 months of work experience and 7.5k
Rising Star
Nice! -Borat
Dreaming of retirement someday. 53, $1.8M. SO has another $600k.
38 F
8k
35 years old and married (combined finances)
Roughly $100k across three retirement accounts (contributing much more aggressively in the last few years), but also will have 3-4 pensions paying out in retirement (my military reserve pension, two teaching pensions for my wife, and Deloitte's plan if I stick around long enough). At the rate we are contributing now, I'm projecting ~$2M in retirement accounts with the pensions on top of that.. should be enough to be comfortable.
Grew up on food stamps and welfare, and married someone with a spend-spend-spend mentality. Didn't get very financially literate until a couple years ago.
Appreciate it.. yea definitely makes me feel like crap sometimes when I see people a decade younger with hundreds of thousands more saved up.. but reminds me to stay focused on myself and the things I can control.
(Also, kudos to those people for getting ahead so early, no hate from me)