Leave it to a desk job to make you start going- hell no! I started my own business twice and then second one worked out and still doing after 10 years- love being my own employer and having a future plan for my money and finances
“Horrible job 😢with toxic people.” Makes work unbearable but that seems to have become the rule rather than the exception. So much negative behavior has become acceptable in far too many workplaces.
I love to invest in ROTH IRA because I like there is no RMD and earned tax free. And because I don't make that much annually. My only regret is I wish I know this things when I was in my teenage years. Very late in the game. Trying to max out each year.
13:36 Yeah, its simple when your decision is based on logic. Its not so simple when its based on emotion. My wife will break before I do, so our current spending is just above her breaking point, and I'm constantly working on increasing her pain threshold.😅
My wife and I are middle class millionaires. My wife preferred to stay home, and I've worked 31 years in critical care nursing. We never expected to be millionaires but our investments have grown faster and faster. We do live on a formula of 50% after taxes and save / invest the rest. That strategy developed after getting out of debt, and we just kept doing it for decades. Our net worth crossed the 3 million mark recently which surprises us. It feels surreal to be honest, but we are living within our means and happily so on a take home budget of $90k / year.
I saw this comment B4 watching the video. She said she also took on a side hustle. I think it was $15k at the beginning and Over the next 18 to 24 months 100k within investments
@@Rosetteismyname So, somehow she: Made $60K annually in her job, got taxes taken out, paid for shelter costs, paid for food, paid for transportation, paid for all insurances needed as a young adult, and still saved $100K in 2 years with that income? Even if investing and a side hustle, that means she saved $50K a year...which is about 2/3 of that income she got, which makes no sense ... even if she was living at home
"Obviously this country has an issue with figuring out how to tax billionaires." Correct, we have an INCOME tax system, not a wealth tax. The term "billionaire" describes wealth, not income. Anyone with taxable income pays taxes on that income. Those with high income pay high taxes on that income. Seems VERY hypocritical to say something like this in the same episode where you discuss how you hope to have a multimillion dollar Trad 401(k) balance and wait until you can manipulate your income to be very low to pay zero taxes on capital gains and also do Roth conversions to pay less taxes. Do you really want a tax on billionaires? Slippery slope to a tax on millionaires.
Another 30 year old whining about having to work a job. Omg. On top of that, she had no debt and a head start from her parents. When are you guys gonna do “real people” scenarios? Or I guess I’ll have to start my own channel so that real people who are struggling have something to relate to.
Thanks for introducing me to Money with Katie, here bingeing her content!
I love how she calls her maintenance expenses “hot girl” expenses😂❤️
Leave it to a desk job to make you start going- hell no! I started my own business twice and then second one worked out and still doing after 10 years- love being my own employer and having a future plan for my money and finances
What kind of biz? Many blessings!
I love Money with Katie and Bigger Pockets! My two favorite podcasts come together, what a joy 😊
“Horrible job 😢with toxic people.”
Makes work unbearable but
that seems to have become the rule rather than the exception.
So much negative behavior has become acceptable in far too many workplaces.
I love to invest in ROTH IRA because I like there is no RMD and earned tax free. And because I don't make that much annually. My only regret is I wish I know this things when I was in my teenage years. Very late in the game. Trying to max out each year.
Same
13:36 Yeah, its simple when your decision is based on logic. Its not so simple when its based on emotion. My wife will break before I do, so our current spending is just above her breaking point, and I'm constantly working on increasing her pain threshold.😅
There is a reason people say time is money.
Great video. I hope to learn more about self-directed IRAs. Are they worth it?
Really enjoyed seeing this episode. So good to see the agree & challenge scenarios. Pretty cool.
My wife and I are middle class millionaires. My wife preferred to stay home, and I've worked 31 years in critical care nursing. We never expected to be millionaires but our investments have grown faster and faster. We do live on a formula of 50% after taxes and save / invest the rest. That strategy developed after getting out of debt, and we just kept doing it for decades. Our net worth crossed the 3 million mark recently which surprises us. It feels surreal to be honest, but we are living within our means and happily so on a take home budget of $90k / year.
I'm making brown bagging it sexy again!
Hot girl expenses! I love that!
sotts right on roth accounts if your total marginal tax rate is under 30%
How, did she save to $100K in 24 months making $60K a year? I’m not seeing the math real quick here
I saw this comment B4 watching the video. She said she also took on a side hustle. I think it was $15k at the beginning and Over the next 18 to 24 months 100k within investments
@@Rosetteismyname So, somehow she: Made $60K annually in her job, got taxes taken out, paid for shelter costs, paid for food, paid for transportation, paid for all insurances needed as a young adult, and still saved $100K in 2 years with that income? Even if investing and a side hustle, that means she saved $50K a year...which is about 2/3 of that income she got, which makes no sense ... even if she was living at home
@@MWCRUSADER0508 yes, something is missing.
@@MWCRUSADER0508 I thought she also said she had starting assets. I could be wrong but it wasn't 100k starting from 0
@@MWCRUSADER0508 yup, sounds like cap.
🎯
Autumn bicker?
Her cut looks really good here. Just noticing randomly.
"Obviously this country has an issue with figuring out how to tax billionaires."
Correct, we have an INCOME tax system, not a wealth tax. The term "billionaire" describes wealth, not income.
Anyone with taxable income pays taxes on that income. Those with high income pay high taxes on that income.
Seems VERY hypocritical to say something like this in the same episode where you discuss how you hope to have a multimillion dollar Trad 401(k) balance and wait until you can manipulate your income to be very low to pay zero taxes on capital gains and also do Roth conversions to pay less taxes.
Do you really want a tax on billionaires? Slippery slope to a tax on millionaires.
Another 30 year old whining about having to work a job. Omg. On top of that, she had no debt and a head start from her parents.
When are you guys gonna do “real people” scenarios? Or I guess I’ll have to start my own channel so that real people who are struggling have something to relate to.