Create Your Free Budget! Sign up for EveryDollar ⮕ https://ter.li/6h2c45 Download the Ramsey Network App …
source
Today's News for Tomorrow's Brew
Today's News for Tomorrow's Brew
Create Your Free Budget! Sign up for EveryDollar ⮕ https://ter.li/6h2c45 Download the Ramsey Network App …
source
I find it beneficial to put 15% on gambling. With a 1000% rate of return, I have become a multimillionaire in my 20s.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
5:47 I would do way higher if you can.
I earn less than the caller and I invest 20%-22% into retirement + I live off what I made 3 years ago. I set it up so EVERYTHING since: raises bonuses etc go into a regular brokerage for a house.
To accelerate the home I also picked up a part time job, all of that also goes into the brokerage.
Then when I realized I wanted more fun money I picked up Uber and use that to fund my stupidity.
Depends where you live too, average rent in my area is 3.4k and average home cost is 1.9 million. So I need all the cash I can get.
But she is doing an amazing! Always do Roth + matches! Goal is to maximize your Roth IRA and Roth 401k!
Or get yourself a guy who manages to make a decent salary
I wish for a south African Dav Ramsey
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family.
If my spouses job does 7 percent match plus a 10 percent profit sharing, does that cover the 15 percent? My spouse also does the 7 percent for a total of 24 percent yearly.
19 years old, doing what Dave recommends… Match & Roth IRA. Stoked to see what I'll have after taxes. 🙌🏼
I enjoy investing in closed-end funds that offer monthly dividends. The key strategy is to hold these investments long-term while reinvesting the monthly dividends and purchasing additional shares whenever possible. This approach is convenient because closed-end funds are traded on the stock market like regular stocks. Following this strategy could build a portfolio that generates between $50,000 to $70,000 in dividend income.
Bitcoin.
Amazing video, A friend of mine referred me to a financial adviser sometime ago and we got to talking about investment and money. I started investing with $150k and in the first 2 months, my portfolio was reading $274,800. Crazy right!, I decided to reinvest my profit and get more interesting. For over a year we have been working together making consistent profit just bought my second home 2 weeks ago and care for my family
I invest 25% of my income in the stock market at the start of each month and hold for at least 5 years. Recently, I've faced significant losses of about $150K. What can I do?
Is this 15% of your income AFTER you have sacrificed salary and employer matches it? For example, I sacrifice 6% of my salary tax free and employer matches it, do I then invest another 15% of take home? Or do I invest 9% of take home ?
Question how is he and his wife investing in Roth if the most you can make is 240k combined
Please help. I was so excited to begin this and got gut punched because our income combined is 275k
What are our options?
I'm set to make $600,000 this year, and my net worth is north of seven figures, but I'm really worried. My portfolio has only grown 10% in the last five years, and I feel stuck. I desperately need to revamp my investments. Any advice on what to do with my money would be greatly appreciated.
Wait, if she still had a couple thousand left over after roth, why didnt he tell her to put it in traditional ira? From my understanding it was match-roth-traditional. Help!
I will be making 84,240 pre tax at my new job. My 403b has a 2% match up to 4%, so I was going to put 4 % in ny 403b. And Roth is 7000 max a year (8.3%) of my pre tax income. What do I do with the rest? Back to 403b??
"Good growth stock mutual funds." You just lost them probably $100k+
"good growth stock mutual funds with a smartvestor pro" Hes fine for helping people that struggle with economic psychology of debt but damn, he pushes these overpriced mutual funds and advisors. Look into ETFs, perform better than almost all the mutual funds out there over time and have a next to nothing expense ratio. Dont go with a Smartvestor pro, do it yourself and save the fees.
Being a Millionaire in today's economy is nothing. Normal Joe should have 2-3 million to retire.
As a newbie about to invest, you must have these four things in mind
1. Have a long term mindset.
2. Be willing to take risk.
3. Be careful on money usage, if you're not spending to earn back, then stop spending.
4. Never claim to know – Ask questions and it's best you work with a financial advise like Alex Gomez..
I’m new to all this. But how do you invest 15 percent when Roth IRA has a $7000 contribution limit every year
Dumb question(?) So my company with their own money, contributes 3% of my paycheck into a 401k. They then match another 5% and of course I do the full 5% match. So the 5 + 5 + 3 would be 13% of the 15% dave would recommend. Is it recommened to do the remainding 2% into a roth?
I’m saving and investing around 70 percent of my income in the financial market(high yield etfs, stocks etc) pretty much how I made my first million although with an FA. I have a high paying engineering job, and I live upstate NYC. my expenses are low. I have zero debt, low rent and car truck paid off. So i can just save. feel lucky at this point I'm actually grateful for my advisor handling my portfolio. Credits to my FA Dianne Sarah Olson.
So the 15% includes the 401k and IRAs? This whole time I assumed those were considered separate and that I should allocate 15% towards non retirement investments.
Investing in Roth IRA can be a good choice since they are funded with after tax dollars, your contributions can grow tax-free over time. When you withdraw money from your Roth IRA in retirement, you won’t have to pay tax on it, which will help you keep more of your hard-earned money. I retired with 5 million dollars
Live below your means, and invest the rest in Real Estate. Save for the down payment and buy a couple of rental units.
My thinking about money has drastically changed lately, especially since I understand how to make profits from the stock market. I just might be leaving my day job soon.
You can invest into a 403b with a Roth sleeve
Interesting video I'm in my 50s and I'm more interested in investments that could set me up for retirement , I mean I've heard of people that netted hundreds of thousands during these crash, I listened to someone on a podcast who earned over $650K in less than a year, what's the strategy behind such returns?
2:46
The thing to me is, if you invest and have other income outside of dividends then you will be able to live off dividends without selling. Which means you can pass that on to your kids which will give them a leg up in life. $52k dividends received in july 2022.
Help!!: correct if Im wrong. All of Ramsey math is based on the idea that stocks will increase value over time right?? If the prices go down when the person is going to retire, then she may even lose money, right??
I understand since always, stocks prices have been on the rise. But this plan could fail completely. No??
How does pensions contributions impact the 15%
Should I match my employers contributions to the retirement plan? I believe its a 401k, but I'm not sure. I work for a nonprofit organization. They contribute 7% equivalent of my salary regardless if I contribute anything at all and then raises to 10% once the amount they contribute reaches like $15k or $20k don't quite remember the exact amount of when it switches. Back before I accepted the role I did the math and it ups to 10% like 2 and a half years after I was hired.
The other option being to start a Roth IRA and put the money into that instead of adding to my employer's contribution.
By the way, only 27 so that's why I think maybe having a bit more diverse retirement plan with my work and the Roth IRA, but I'm not sure if it would be better to just add to my work's retirement plan.
Investing in Roth IRA can be a good choice. I have been managing my portfolio myself, When I withdraw from my Roth IRA in retirement, I won’t have to pay tax on it, which will help me keep more of my hard-earned money.
Remember when they say 15% it means 30-50% for us regular people .