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re: Do you live at, below or above your income means?
Posted on 8/10/25 at 10:56 pm to Rize
Posted on 8/10/25 at 10:56 pm to Rize
quote:
I still feel the need to leave my siblings, nieces and nephews something when I’m gone but it’s not as important as if I were to have kids.
Like do I leave them a little less money and buy that car I’ve always wanted for my 50th birthday. I’m probably buying the car
I want to leave a legacy for my kids and grandkids. We live well, but still well below our means, Generally save more than we spend each year and many of my expenditures and still investments we can enjoy. I've been blessed with the ability to acquire and build wealth. My daughters are both savers and live within their means, I just want to make sure they can maintain the lifestyle we've gotten them accustomed to.
2
Posted on 8/10/25 at 11:37 pm to SmackoverHawg
quote:
I want to leave a legacy for my kids and grandkids. We live well, but still well below our means, Generally save more than we spend each year and many of my expenditures and still investments we can enjoy. I've been blessed with the ability to acquire and build wealth. My daughters are both savers and live within their means, I just want to make sure they can maintain the lifestyle we've gotten them accustomed to.
I used save way more than I spent but now I’m probably 60/40 with more spend than save.
This post was edited on 8/10/25 at 11:54 pm
Posted on 8/11/25 at 4:46 am to SmackoverHawg
quote:
I want to leave a legacy for my kids and grandkids. We live well, but still well below our means, Generally save more than we spend each year and many of my expenditures and still investments we can enjoy. I've been blessed with the ability to acquire and build wealth. My daughters are both savers and live within their means, I just want to make sure they can maintain the lifestyle we've gotten them accustomed to.
Same here, except my boys (15,12) are not savers. AI scares the shite out of me, so I want to make sure my lineage has a massive safety net to weather that storm, should it arise. In 7 years, I will have a working 15ac. farm paid for with multiple houses, bunker, and completely off grid ready if necessary. We already have a trust in place to protect my kids from themselves and anyone who may wish to take from them what we have built.
Posted on 8/11/25 at 6:20 am to Rize
quote:
I’m more of the you only live once crowd. If my wife and I want something within reason I buy it. More than likely I’ll be financing a portion of and that’s ok to me. It may require me to work longer but I don’t want to have a bunch of money going into my 60’s then kill over without enjoying some things that my wife and I like while we in our 40’s.
Oh I get that, my wife and I travel a lot, it's the memories not the things that I cherish. We can afford to travel like we do because we live well within our means as regard to housing and vehicles. My house and both our cars are paid for and have been for now 3 years.
Posted on 8/11/25 at 6:24 am to Artificial Ignorance
below all my life, now in my 3rd year of retirement and literally do whatever I want
but I have simple tastes, all I do is eat out wherever I want
but I have simple tastes, all I do is eat out wherever I want
Posted on 8/11/25 at 7:26 am to RohanGonzales
quote:
below all my life, now in my 3rd year of retirement and literally do whatever I want
This!!!!
YOLO mindset early years mortgages the financial freedom latter years for too many.
100% with you on ‘whatever I want’. Congrats!
Posted on 8/11/25 at 7:41 am to Mingo Was His NameO
quote:
I can liquidate it within 24 hours with no tax consequences
Hardly leveraging $1M if no tax consequences (Muni’s, breakeven assets, other cash equivalents), no?
Lengthen that financial effort / load!
Take some risks, Baw.
Posted on 8/11/25 at 8:07 am to Rize
quote:
There’s 3 Pharmacies around the Baton Rouge area and you posted dividends from the pharmacies. The owner’s name is Chris and your user name looks like Chris with Rx which ties to Pharmacy stuff.
I mean Chris RX is not hard to tie 2 and 2 together
i get this all the time... i'm not the owner of Chris' Pharmacies.... that's another guy...
Posted on 8/11/25 at 8:19 am to Artificial Ignorance
I’m looking to retire a bit early so my family lives below our means. It was funny, we once went to a cookout at the house of one of the guys that worked for me and my son said, “ I wish we were rich like those folks”.
When I retire I want to have zero loans including no mortgage. I’m on track to do this.
When I retire I want to have zero loans including no mortgage. I’m on track to do this.
Posted on 8/11/25 at 8:21 am to Artificial Ignorance
yall mother frickers on here are always worried about how much someone else makes and how they spend and how they dress
yall act like fricking women about this stuff.
yall act like fricking women about this stuff.
Posted on 8/11/25 at 8:23 am to Artificial Ignorance
quote:
Hardly leveraging $1M if no tax consequences (Muni’s, breakeven assets, other cash equivalents), no?
SMH
Posted on 8/11/25 at 10:12 am to Mingo Was His NameO
quote:
SMH
Don’t shake it.
Use it.
Sounds like you got this, Baw.
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