Відео

I thought you were Ecuadorian. Good video.

Great video ❤

This was a great video. Nice little new format. I think it came out really good!!

I feel like in the next 5 or 10 years we may see 401k programs become mandatory for both employers and employees.

I love how much thought you are putting into this! It’s good to know what numbers you are ACTUALLY comfortable with spending on hosting versus what the bank TELLS YOU you can afford. You guys are being so smart!

not sure why this is labeled a "scarcity mindset" - - seems pretty abundant minded to me to carefully consider & weigh the realities of insolvency / bankruptcy/ illnesses / job losses /expenses of growing a family.... etc...

for Pete's sake - - - stay living in basement & hoard the cash.... buying a house without the 20% - - hits you with PMI - - - waste of your money...

I'm at $2.9M invested at age 55. MY FI goal number $2.5M. I plan to retire at age 60 or 63 as 60 or after is the age at which my employer will pay for health insurance until age 65. If I either stop contributing and keep investing my result will likely be $4 million at age 60, and about $5M at age 65.

I live in Jersey City! Happy to give you the scoop on the neighborhoods (and the schools) if you are interested.

i cant believe you're taking home 74% of your pay only.... the taxes in ny must be rough

love see a healthy relationship that involves an nontraditional breadwinner in the household! <3

Can you live in the basement for one more year? It seems like it will give you the opportunity to save more money. I understand willing to pay more for a place you own rather than rent as when you own a place you have the ability to build equity and see some sort of return on your money where as renting is more short term satisfaction.

Congratulations! This should help you reach your goals so much more quickly! 🎉

Pulling for you💪

Congrats on your 5k 😊

Good luck, Plan to buy something next year When I turn 22 Florida sucks tho so either its gonna be a single family we house hack or a duplex for experience then will buy outta state Fire is the goal, Could care less about "Living independly" cause living in a property is a waste of money So my aim is just accumulating rentals Hopefully market crashes soon, People are as broke as ever according to stats, and it seems things are cracking altho it sucks the fed/govt just keeps on propping the market

Thanks for sharing your thought process and the numbers! Before my husband and I bought we did something similar. I wanted to make sure we wouldn't be house poor and we could still save, invest and travel often. I'm glad we did that because shortly after buying our place our incomes increased. (Mine almost doubled) but we kept our costs low for the most part. Definitely helped us get closer to our FI number.

When first buying a house the initial payment always 'hurts' a bit when coming from renting, but after a few years it lightens, until eventually 5+ years later you will have the naysayers mentioning how you were lucky to have bought when you did. Its just like stocks, housing always goes up over time, getting off the rent bandwagon was one of the best financial decision I've done. Even if its $300-500 more than similar rent, you need to consider the expected 2-3% growth in value per year of the asset. On a $500k house 2% growth per yr equates to 10k/yr, divide that into months...over $800 in equity growth per month going to your net worth balance sheet...Also consider tax benefits of owning, if you itemize you get a tax deduction on the interest...There's more to the story than an apples to apples top line number of rent vs buying.

Great video, Dannielle! I love that you go over everything in details and provide real numbers. I don't think I understand the part about being in a higher bracket in the future. I always thought I would be in lower since I'll be retired. When you are retired, would you be bringing in income to be at 35% as in working after retirement? Or would it be only be from investments? How does it work? I'm trying to understand it and compare it to myself. I just started a new career but I know for sure I won't be making $400k in 20 or 30 years (just because of the estimated range for my field). Am I missing something? Thanks in advance!

Another great video. Tough decision

Does anyone know how it works with paying taxes if someone lives in a state with income tax but will move to a state without it for retirement? Or will completely leave the country? How do taxes on 401k work then? It's hard to find this info online.

When buying a home, ALWAYS consider phantom costs just as others have shared. A house always needs maintenance and repairs. It’s not just the monthly mortgage payment.

I live by jersey city :) cant wait to leave nj though lol

I appreciate that you show your real numbers. I’m looking forward to seeing what you decide. I think whatever you decide you’ll be fine. You both already weathered unemployment at the same time. There doesn’t seem to be a rush so you have time to think it through and in the meantime you’re saving each month.

Buying a house brought in so many unexpected expenses. First while it seemed like every second week was a $800 purchase needed. That has thankfully now stabilized but there is so much maintenance stuff I don't see people talking about / budgeting ex. furnace / water filters, paint to touch up scuffs, things to unclog the drain, plants / soil to make things look pretty, replace things that breakdown/ wear out. Budgeting with a rental is much easier. Remember, you can do anything but can't do everything. Owning a house may mean fewer vacations or pushing the FIRE date.

I currently doing half Roth and half traditional but is definitely a stressful thing to think about having to make a decision about what is the best strategy to maximize your returns for future you.

Just a reminder, Trump’s tax cuts end in 2026. So contributing to a Roth 401k in the next year is even BETTER because the tax rates are going up soon. It’s basically immediate return on investment to pay the taxes in 2025 rather than after trump’s tax cuts sunset.

Always do Roth.

Roth over traditional.. why would you want to go into retirement with the mindset “I have to spend less money now so I can win the tax game” you’re putting on mental handcuffs during your golden years. Can’t take the family on an oversee trip because you’re worried about the taxes, can’t throw a party for your grandson because you’re concern with paying taxes.. that’s just me lol

Why not add the remaining 500 from the traditional 401K so that you're contributing a total of 2500? Compound interest will then do it's magic and you'll end up with more

Can you only do one or the other? In Canada it is up to the individual (not employer) to invest the money and you can do a bit of both (we call them TFSA and RRSP)

Do both 401k and roth. If you ever leave your job for a better one, you can always roll it over to your roth and not have to worry about the taxes. In my opinion i would contribute as much you can since, you have no kids or other financial expenses. Take advantage that you are still young.

You missed a big detail. Going of 2023 numbers the ma you can contribute to a Roth 401k is 7000 a year. The total in any form of a 401 K is 23000. So if you max out a roth at 7000 you can contribute the remaining to 16000 to a standard 401k. That would really lower the difference in take home pay that you calculated. And you could always say contribute to the roth in less expensive months that way you on say months you have big trips you could take home a bit more pay. If you google gusto Salary Paycheck and Payroll Calculator and use that calculator I find that its accurate within about 15 dollars.

Do both. Roth is not talked about enough. Get a Roth outside your employer and learn to invest individual stocks. I don't think employers/administrators allow you to invest individual stocks outside of company stock. But equally important if not more important, have an emergency fund 12 months or more. The old 3 months is not enough.

roth - - it will grow tax free - - - then once you are 55 or 59 - - you get it TAX FREE...and let me tell you at that stage the taxes get bad.... retired people pay a ton n taxes... t me it is not even a decision to make....

This was really helpful. Thanks! Made me realize I should probably just stick with traditional but I will still do 1 percent into Roth

Make book club potluck.

Thank you so much for this.

This was SUCH a good video! Thanks for your transparency 😊. I hope the money comes running in like a rain storm soon!

That wellness decrease!!! 🥹😍

love your g-cap set up for your bills/large expenses! i gotta using your format too

Yay for dinks

An amazing September!! Congrats on the DINK status! 😍😍😍

My husband and I live in SoCal fairly expensive city. We budget 600 a month on groceries 250 a month eating out and 70 a month on meal prep

can you stop with the hand gestures, so distracting

I also studied poli sci and gender studies 😂 good to know maybe I can make more money in the future lol

Sorry for leaving multiple comments 😂... I didn't see Roth IRA contributions listed as a goal for 2024. Are you waiting until Jan to contribute for 2024? It's usually best practice to contribute to one's 401k just enough to get the full company match, then max out a Roth IRA (or do a Backdoor Roth IRA), then max out your 401k, then do a taxable brokerage, in that order as funds permit.

Why isn't the CA wedding trip listed as a short term goal? Did you already pay for it? You mentioned asking your aunt and sister for advice. Do they live the kind of life style that you want to emulate? As in, are they saving for their retirement or financial independence? I heard the saying "don't take life advice from people whose lives you don't want" from Ana Akana and that has stuck with me. Lastly, when I have equal priorities I split my money 50/50 towards them. Usually over time one becomes more important and the ratio changes.

Just an idea - combine your birthday trip to NM with the CA wedding trip. Save on flight costs & time spent traveling.

A year today for me