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Good question! When you have a 403b and 457b you can max both out not just one. Then I would max my 401k. So we could max out 3 all together.

@@Lucrative_Luke Got it - that's a pretty nice tax shield should you two get into a higher tax bracket.

Yes thank you! This was my dilemma when doing this. When you are actively contributing, it’s not easy to see your lifetime return. I’m still taking real estate over stocks though 😁

You may have to explain a bit more for me. I suppose both you have to do your research before buying but maybe no physical work to do on stocks.

Yes, we have SCHD in my wife’s 457B and almost all of my wife retirement is in s&P 500 index (just a different ticker that’s offered to us instead of VOO)

I can probably make it easier for you honestly. Go back to last months video and there should be a link on the description to where you can download a template. Once you open it just save a copy on your computer! Let me know if you have any issues!

@@Lucrative_Lukejust found your page as a recommended. Great workbook!

@@Lucrative_Luke thank you! I’ll check this out tomorrow

@@Lucrative_Luke I have another question regarding your spreadsheet. I found it in your last months video, but wanted to ask how you would calculate you investments worth into your total worth. Because at the moment its just what I invested, not what they're currently worth. i think the spreadsheet is different than the one your using. I hope that makes sense. thanks!

Sure! The primary thing I track is net worth. People may have different goals depending what stage they are in (paying off debt, saving cash for a house, investing, ect.). Net worth increasing is a sign you are moving in the right direction no matter what goal you have. The spreadsheet calculates your assets (like cash, cars, property and investments) and subtracts the debts you have. So in my case I have 2.2M in assets but still have ~700k in debt so my net worth is 1.5M. More specifically on investments, I use the current value that they are worth if I sold them today. So since it’s mainly stocks that number will go up and down as the market changes. You can go back to the 2020 video when we had the COVID crash and you’ll see my investments were decreasing every month. But here recently have mainly gone up each month. So to make each video I do have to log into about 5 or so accounts to get the current value of the HSAs, and 401ks. Let me know if this helps!

My guess was wrong. Just added it up and I came in at gaining $3,466.03 this month.

I had been slowly accumulating it for years now but for sure was a huge under performer for the past couple years. Glad to see it finally moving up some.

Let me sell off all my stocks and move into money markets then we can have one 😁. Honestly I am thinking there will be one here right around the corner.

It’s honestly been a little slow lately. RUclips seems to be good somedays and bad the other. I still have tons of video ideas but it’s hard to dedicate the time away from money making activities to make the videos

@@Lucrative_Luke That’s understandable. To much risk in spending time on RUclips and never blowing up to a reasonably monetize able level to make it worth it.

They will yes, mortgage rates will come down as well but I’ll have to find another asset to park funds into. But 5.25% risk free isn’t bad right now. Warren Buffett has a huge portion of his portfolio in them currently. We usually don’t buy anything over $3000 unless it’s a really good deal. All cars we got crazy good deals on and I guess that included the four wheeler too. It was a used 2020 Suzuki and we got a great deal when we bought it haha

Intel is an interesting company right now. Priced at book value and could be considered a value investing play! Congrats on such a good month!

That is probably what we will do as well! Appreciate the perspective!

My REITs are doing fantastic. I own one under the ticker IIPR and mid 2023 I was scared to buy more as it would just drop every week. But now I wish I could’ve capitalized a little more on that time. That’s the market for you 😄

Thank you! The only REIT we have currently is Reality Income which my wife has had in her Roth IRA for years (her average buy price is in the $40 now. I hope so too! I would love to start phasing out of the pharma industry and go full time into real estate :)

Thanks! Good to see you still watching Joby! 😁

Good question, right now some days it doesn’t seem like it but my wife and I spend a lot of time at home rather than vacation. We will also live here the rest of our lives as well. But we probably could have built a bit smaller of a house honestly and had it paid off sooner. But thinking about it, on the grand scheme of things maybe only would have saved 6-12 months building a smaller house.

Thank you! I’ll keep posting every month! Hopefully we can cross the 2 million mark here soon!

Thank you! I appreciate you coming back and watching!

Jezzz you’re crushing it! What are your plans for college? Are you going to keep working those hours? Are you staying in a dorm or staying at home? When does college start for you?

@@Lucrative_Luke College starts in a few weeks and there’s probably no way I can work as many hours. I am going to step up to a manager and get another pay raise that way but I’d still like a call back from Costco one of these days 😅. I will be staying at home too. That’s one of my mom’s deals that if I did college I could stay at home without paying a rent to them.

Thanks! It’s still a long long way to go, I need 1000 subs and 4000 watch hours and I’m about 1/10th of the way in each of those. If I ever get monetized I would have to track it so the viewers would know exactly how much RUclips paid me each month haha

I gladly would! However I’m assuming you live in a different state than me and I am only licensed in the state I live in 😓. I’m really hoping I can get a few sales this year and get house 8 knocked out. And the eventually do that full time.

Thanks Robert! It’s been a crazy 12 years, but I’m so grateful what I’ve been able to accomplish. Thanks for watching and I hope to hear from you in the July video!

Always interesting to go back and hear your old self. Time changes a lot of things! Keep up the great work!

Thanks I appreciate it!

Thanks for watching!

Same here but was Tuesday for us! Blew over hundreds of trees and we were without power for 5 days! Glad you all are okay though!!!

@@Lucrative_Luke wow that is a crazy storm like I have never seen

Wow still a pretty good month overall! Glad to see you opening a Roth! Max that thing out as long as you can! I was only able to get 30k in there before my income exceeded the contribution limit and I can no longer contribute. How much of your net worth do you have in SOFI!?

@@Lucrative_Luke About 40% 😄. I’m just a little crazy 😅😂

Having ~40k in NVDA at these prices is a little to crazy for me 😁.

The company pays into the pension on your behalf. I don’t contribute anything to it. It works off a point system on you age and years of service. But the company contributes 1.2% of you salary to the pension. It’s a very uncommon perk now a days but used to be pretty common 20-30 years ago. But most companies have removed these and went to a 401k only.

I know it suck’s to be working that much but think at your age every dollar you can make is like $150 by the time you’re 65. If you work like this in your teens and 20s, when you get to your 30s you’ll be in an amazing spot!

Thanks! 10 years ago I wouldn’t have guessed I’d be making as much as I am today, but I have had to make a bunch of maneuvers to get to this point 😄

I would first pay off all debts I have just so I wouldn’t have to mess with them anymore and could cash flow more. Second, probably leave my job and do something I enjoy more. I’m working probably 80-90 hours a week if you count travel time right now. And getting phone calls at night a lot. I can barely keep up with basic chores like mowing the grass. But making good money so I’ll keep at it. Third, most likely buy more real estate, but it’s tricky. I won’t buy anything unless I get the 15% cash on cash return. So that may have me waiting years to find that. If I couldn’t find real estate at that return, I’d invest in safe dividend paying stocks for the short term until those deals came up. And maybe start a business. But long term, 20 years from now, I would like 50ish houses/properties.

Congrats on graduating high school!!!! What’s next on your journey? Are you starting college or have something else planned? If you can grind for the next couple years you’ll be set for life! Get that first 100k as fast as possible! Crazy to think though, you’re at the same point in life I was at in May 2012 🤯

@@Lucrative_Luke I’ll be going to college to get a Finance focused Business Associates degree. I still think it would be cool to get a Financial Advisors license. But making money and having a job at all times is still priority. And I would like to continue growing money trading options but I’ll be much more disciplined and open 2 or 3 brokerages with each one being for a specific strategy so that I can ultimately find my favorite or my best. Luckily too I have the money put aside to open and max out a Roth IRA once I turn 18 too.

I’m guessing I’ll work there for 10 years or so so might be $1200. Unless I get a better more flexible position. I kinda ignore it for now but is a good safety net when it comes to retirement. And keeps a ton of people at the company. Many people have been there 30 years and have a huge pension!

@@Lucrative_Luke I went in and looked at what the Marines had to offer because their recruiters would not stop bugging me. Anyways I found out that while you have to be with them for 20 years to continue getting money from them after you leave there is another way around it. If you list all your health problems and it can be anything like leg pain, back pain, joint pain before joining the marines. aAll you have to do is claim that being in the marines caused more stress and pain to those points and they will have to pay you for the rest of your life because their was “damage done to your body” during your time serving. And I found this out from a Marine that’s leaving after only 10 years as he will be doing this to get money from them for the rest of his life.

A family member of mine did that with the navy and makes $4,800 per month now from disability. It’s pretty crazy!!!

Thanks! 😁

Luckily not tree roots here so all was good!

Not that I’m aware of. Usually you need some time of personal purchase then you can deduct that purchase when you file (kinda like itemizing)

shoulda just bought First Solar lol 😂🤣

That’s still good, especially if most of your networth is in stocks! It’s difficult to be in the green when stocks overall were negative for the month. We still need to get you into real estate though! 😁

@@Lucrative_Luke yeah I hope I have my own house in a few years, but they are so expensive and I have no credit. Can’t wait to turn 18 and have better control.

I’m just paying the price now so I can be done sooner hopefully. That’s how pharma is, sometimes slow and sometimes insane hours. But for $250k a year it’s probably the best option I have to make it all go as fast as possible. I Still have one trick up my sleeve I haven’t mentioned yet, hopefully can get that complete in the next month or two (I’ve mentioned it before in a video but it’s been awhile)

Hey! Yes should be tonight! I’m getting slammed at work currently putting in 16 hour days (plus driving) so a bit behind on everything. 😅

Well I uploaded the April video but it is stuck in processing will begin shortly. I guess RUclips is having issues right now from what I am reading online. We will see if it uploads while I'm asleep.

@@Lucrative_Luke If it’s up after I get off work Ill check it out

I do yes, in some of the year end videos I go over it for the whole year.

You’re the exact same age as I am. I’m turning 30 in a couple months as well. I hit the first million when I was 28 years old. I think you can easily hit it by 2030! I’m also mostly holding S&P500 index funds. You should take a look at my Feb/march2023 videos. I did a relation for the job I’m in now and got a relocation package that paid me almost 100k. So having a house at the time was an extremely good move. Maybe you can do something similar? But in terms of real estate I always buy houses that are under the current market price (which today is a lot harder to do). If your maxing your HSA and 401k I think you’re next logical step is buying that first house. 😁

I don’t, the bank I use doesn’t have great rates. I could move 20-30k from cash into a high yield savings account but it wouldn’t net me much after taxes because of the tax bracket I’m in. So I’ve chosen just to miss out (which might be $500 a year) on that and hold more in cash.

@@Lucrative_Luke makes sense. one more question, how do you accurately estimate the value of your properties? (e.g. do you look at what homes are selling for in their respective neighborhoods? and for vehicles, how do you calculate the appreciation/depreciation?)

Usually use Zillow for houses. But I usually take 5% off of what Zillow says. It’s kinda a combination of watching houses in the neighborhood and Zillow estimate. Also I have a question that puts them up 2% in value per year but that’s usually not fast enough. Cars just just use Kelly blue book and update once every 6-12 months. The main thing I try and do is keep things constant and reflective of my actual situation today.

@@Lucrative_Luke just curious what is the value you are getting for "missing out"? Is it that $500/yr is immaterial and not worth the hassle? and/or is keeping it in a checking account offering you more liquidity/accessibility? appreciate your videos!

Honestly it’s just speed for me. It might take me 2-3 days to sell money markets in fidelity and transfer funds back into my checking account. But the peace of mind knowing I can weather a difficult time or an urgent situation is worth more value than the $500 a year for me. Now if I had like 100k in cash I would for sure put it in a money market and not a checking an account. Last note, sometimes I find dirt cheap real estate (houses like 20-40k) and it helps me to show proof of funds in my checking account vs it being in a money market and having to explain taxes and everything to the sellers. Love the questions! Thank you both for commenting and watching!!!

Yeah it’s a program not many people know about. But depending how invaded your land is they will pay you between $10-150 an acre. Only one time though

I need to read “this time it’s different”. A walk down Wall Street was really good too! For the next couple months I’m reading some other material but will for sure add it back to my list. Driving 2 or 2.5 hours a day to work and back you can get through some books pretty quick.

Just think, every month you work while you’re in school you are getting that much of a head start on me. I literally didn’t start working until after high school.

Wow you’re probably the only employee that has worked at that many locations! A manager in the making haha

Slowly over the years honestly. Best book I have found so far on finances is the “psychology of money”. But I have a goal to read 100 books on personal finance and I’m about 1/2 way through that list lol.

I'd love to see your top ten :p @@Lucrative_Luke

1) The Psychology of Money 2) Millionaire Mind 3) The Millionaire Next Door 4) The Compound Effect 5) The 10 Year Career 6) Choosing FI 7) Total Money Makeover 8) Rich Dad Poor Dad 9) A Random Walk Down Wallstreet 10) Early Retirement Extreme

I have heard you always have to be careful with deposits. If I were to do an eviction. The judge may ask to see where I’m holding the tenants deposit and I would have to show it’s in a separate account and not invested. Not 100% sure about that though.

Yeah she would get around 40 days a year and could bank them! Thank you!