Originally Posted by
scambo1
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Pineapple;
You are right, every situation is different in its own way. I am open to all perspectives. However, I will voice and vote my own perspective. I have a stay at home wife too and a son in private school. I have been a dedicated investor since I started working - and had a sizable nestegg re-set significantly by a divorce as a DAL newhire. I have been rebuilding ever since.
The average american 2 income family makes in the neighborhood of $50k per year. If a person re-sets their budget to live on that, the avg DAL pilot can sock away a chunk of dough. Yeah I see your eyes rolling.
I could go on, but its probably already boring. What sinkr8 said on the previous page works for me too.
Scambo
Agreed. I have been saving since the first paycheck I earned at 12 y/o as a caddy. I too have a sizable netegg and want to grow it as quickly as possible.
I am in a two income family with the wife working out of the home, but that is about to change. I agree that if you live smart in your earning years your investing power is awesome.
It is wise to have no debt, and live very meagerly. I take no vacations except to see family, buy the off brand food, shop sales only, pay cash or use the debit card and invest every penny I can. As you state living well within your means allows you the ability to truly save. Not paying the interest portion of a car payment or credit card payments adds up. Save, pay cash, and negotiate with everyone.
I want to see the DC increased as much as I can too. I would love to max the bad boy out. We are above the roth limits and will be if/when the wife quits due to a llc, but there are other ways to save. I tell guys all of the time to use the free consults that we get with our plans. Off the top of my head I think it is two sessions of up to four hrs a year.
The law of compounding is a nice thing to watch.