re: Review my personal finances

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Eating out: $500

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In a month? We eat out a lot. It's one of our largest expenses.

You’re doing well but I would rotate some of that S&P exposure to gold, bitcoin, savings accounts etc. You’re overly concentrated in a mature yet expensive and surprisingly risky asset class.

Retired. No mortgage. Two paid off cars. Low tax state SC. Rarely eat out. Eat well at home. Frugal, but not cheap

My monthly expenses are routinely 5500. 334 of that goes into grandkids 529. In a typical year add 1k a month for travel

There’s no way his living expenses are 4-5 k a month. Very unlikely his retirement account is that high.

If everything he says is factual, why would he be looking for advice. He’s a modern day genius work ability

My wife and I make a lot more than you and we’re in our early 30s. We put maximum Roth back door Roth 401k match etc for 10 years and don’t got 900k in traditional accounts.

That’s how I know it’s bs

I’m 100% s&p funds what were you invested in? Looking at my 401k history over the last 10 years I’ve invested the following amounts: company match 153k (now worth 291k), pretax contribution 177k(now worth 326k) after tax contribution 60k (this amount was moved into Roth IRA through mega backdoor conversion so no value in 401k as of today). So that’s 617k in my 401k. IRAs are worth 27k traditional and 108k (used mega back door conversions from 401k to fund it). Wife’s accounts total $150k. My company match is 10%. There is more match amount in my 401k than my contributions bc I moved some after tax contributions into my Roth (mega backdoor Roth conversion). A quick google search shows the s&p 500 returned 254% from 2015-2024 assuming all dividends were reinvested.

The expenses you just lists totals 4k and are very similar to mine. Based on other responses that is impossible

House was paid off last year using money in my taxable brokerage and we haven’t had a car loan since around 2018

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So the guy is well-versed enough in personal finance to max his 401k, save in an HSA, pay off his house and cars in mid 30s. But he can't figure out what to do with an extra 3-4k? Guy never heard of a taxable brokerage acct? I just can't see this not being a humblebrag post.

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I’m not saying his post isn’t bullshite and I’m probably 7 years older than him and still just learning about all this investing stuff. I just started investing into a brokerage a few months ago. For years I carried way too much between my wife and my checking accounts.

The money board has helped me keep way less in checking, open up a HYSA, and start investing into a fund in fidelity. I also moved my 401k out bonds, two target date funds, and more into S&P and large cap.

11 years ago I had 27k in my 401k and I was putting in 3% a year after working at the same company since 2002. The kicker was I had it in savings account in my 401k and not in the market for the 1st 12 years??.

The only reason I moved it out and even looked at it was because an older coworker mentioned he made 28% that year on his 401k and I was at less than a percent.

I copied what he was invested in a left it alone until I posted a thread on here last year. I now put in 6% and I think my 401k has jumped 100k since that thread in June or July.

Everyone is at a different point in learning about this stuff so I really don’t get bothered by any questions I see posted on here asking for advice. I feel like I could ask questions on this board daily about stuff because I’m so new to investing outside of gambling buying shite crypto and meme stocks.

This is a family of 7 right, 5 kids total?

Without an infusion of external money, his numbers are impossible to achieve with salary listed, and time worked by him and his wife.

The fact he claims he was wise enough to get to $960,000 by 35ish, while popping out kids every 3-4 years on average, and then pay off a mortgage that was a less smart financial move.

Why do people lie on the Internet

Wow. What an accomplishment. You seem to have made some great decisions in life.

Hope I can get close to that one day.
Good for you.

I would venture some into real estate that pays for itself.

Or

You could always start selling drugs.