Living On $110K A Year In Italy - How I Plan To Retire By Age 40
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- Опубликовано: 5 июн 2024
- Darren Thedieck enlisted in the military at 18 and has diligently saved and invested ever since. He's on track to retire in 8 years, after 20 years of service. So far, he's saved over $500,000.
This is an installment of CNBC Make It's Millennial Money series, which profiles people across the globe and details how they earn, spend and save their money.
Produced by: Lauren Shamo
Senior Managing Producer: Eric M. Clark
Camera: Andrea Ferro
Editor: Nic Golden Henry
Animator: Elham Ataeiazar
Reporter: Ryan Ermey
Additional Footage: Darren Thedieck, Getty Images, U.S. Department of Defense
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Living On $110K A Year In Italy - How I Plan To Retire By Age 40
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I'm Italian myself. With your 110k per year your salary is clearly above average in Europe, while this is a normal salary for the Eastcoast or Westcoat in the USA. So you actually have the best of both worlds: high American income and cheap/moderate costs in Italy, in a Western country where you have the full rights.
Westcoast is lib
What a lovely family. I especially love the fact that he helped his future wife to to become debt free. I'm sure a plan was created but his wife did the work and he seems to be a very supportive husband. TEAMWORK! Continued blessings!
I was his neighbor at Croughton 🤣 crazy.. good too see he's doing so well for himself and his family.
Nice work guys, I reached 1M last year at 38 but def not retiring anytime soon. Wanna have at least 3M to keep my current income / standard of living. Plus I love my job.
What your job?
Well this guy gets his entire life paid for by the US taxpayer so that's why he doesn't need to have much himself to retire. He mentioned the pension
@@DisposableSupervillainHenchman Software engineer 👨💻 🤓
@@morgan5885he earned it.
@@morgan5885 I did notice that but that’s half of his base salary (don’t think he will get the allowances later) so ~28k which is not enough in the US but I guess that’s why they plan to live in Portugal or Italy.
I realized that the secret to making a million is saving for a better investment. I always tell myself you don't need that new Maserati or that vacation just yet. That mindset helped me make more money investing. For example last year I invested 80k in stocks and made about $246k,but guess what? I put it all back and traded again and now I am rounding up close to a million
You work for 40yrs to have $1m in your retirement, Meanwhile some people are putting just $10k in a meme coin for just few months and now they are multi millionaires. I pray that anyone who reads this will be successful in life
Thanks for continuing updates I'd rather trade the stock market as it's more profitable. I make an average of $34,500 per week even though I barely trade myself.
I'm favoured financially, Thank you Jesus $32,000 weekly profit regardless of how bad it gets on the economy.
How
..? Am a newbie in crypto investment, please can you guide me through on how you made profit?
Thanks to Mrs Maria Davis.
From $7K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
Amazing , you work for 40yrs to have $1M in your retirement, meanwhile some people are putting just $10K into trading from just few months ago and now they are multimillionaires
Some times last week I tried trading all alone but ended up loosing $3K
please educate me, i'm willing to make consultations to improve my situation
Christin a josef understanding of marke t indicator s is impressive. Sh e knows exactly when to enter and exit trade s for maximu m profi t. her siignals are top notc h
I'm new at this, please how can I reach her?"
I like this guy. Always nice to see FIRE people who know what they want, are grounded, but aren't douches about it.
Well said. Didn’t think about this.
My husband was in air force for 13 years as enlisted and now he is an officer in Navy. He will be able to retire within 9 years with at least 5K monthly pension. We live in military base housing and other than internet we pay nothing. Thanks to Japanese yen, living cost is so much cheaper than living in the states. Our next plan is also getting a station in Italy after 5 years of living in Okinawa, Japan where we truly enjoying our lives now. Then, we would like to retire in Portugal just like him. I worked as a RN for 5 years and heavily invested for those years. I have enough money to not work anymore. I still do some trading with stocks and putting capital gains which is range from 2k to 7k per month into long term investment. My husband saved up more than half a million now and expecting to retire with at least a million. We manage our money separately and it has been working great. :)
congratulations 😄you all sound like you're a part of the F.I.R.E. Movement "Financially Independant Retire Early.
I had a boyfriend that planned the same future with me and signed for the Navy... Because he wanted to move to Italy where I lived.
He went to Japan, San Diego etc, because the only base in Italy didn't need him.
Of course, we broke up, and eventually, he also retire from the Navy heartbroken because he didn't achieve his goals despite his efforts.
Unfortunately, we met literally a week after he signed up for the Navy. Happy to witness a couple making it like I wished❤
I often go near Aviano meeting family, there is not much to do really, it's a good place to save money actually 😅
What do you mean you pay nothing? No subscriptions, phone bills, insurance? or where you just referring to housing utilities?
For him been an E6 takes years to get to that level ranging from 8 to 14 years on average and some people don't even make that rank.A lot people are not making that kind of money in the military. All I m seeing are negative comments of haters just hating on a young man raising his family. Military members do pay taxes as well. If you are willing to die for your country, you better be compensated generously like this young man after sacrificing over a decade of his life. If you haters are just miserable and want to better your life,no one is stopping you to join the military if you pass the requirement.
I live in Friuli Venezia-Giulia and I'm also doing FIRE and he is making a tone of money to pay 1,650 euros in rent. I mean, my monthly salary is 1,650 euros/month. His lifestyle is way beyond upper middle class: he is living extremely comfortably, possibly in the 5% of Italians considering how much he travels and splurges on many things, but that is due to the fact that he makes an American salary in a country where the cost of living is probably 1/5 :) Super happy for him, but it's easier to reach FIRE if you earn an American salary but live in a European country.
Oversexed, overpaid, and over there. 😊
Maybe it helps he's in the military but any expats wanting to retire in Europe can be expensive tax wise since tax rates are higher over there than the U.S.
Yeap, they are family of 2+1 living in 4 bedrooms, 2 baths as far as I understand 🙈
Stefania, the don't pay that rent. It's the housing allowance that pays it. He doesn't get those money in the bank Account at all, the military pays for it. It's actually not a financially smart decision to live in such a bigh house at that pumped price when it's only 2 and half of them. He could potentially save even more. I known it because my wife had a house in Marsure and it was 4 beds 2 baths...huge... and at that time she was alone. On top of this, he's bills are paid, and car gas as well. As much as he is a better example than most people, he isn't financially smart he just lives a life that only 1 million people in the world live...the military members, no one else. So, not really an example for everyone.
@@ilcasti exactly!
That’s pretty awesome man. I was Air Force myself and I have a similar mindset. For tnis guy to be 31 and have over 500k in investments is really great.
Respect to this guy. To get where he is now takes so much discipline
Blessings, longevity and Gods favor over you and your new family. Keep going brother. ❤
Great story. I got my start in the Air Force and transitioned into another government agency for a total of 35 years at 55. I could have been fully retired but I went to work at a state college for another 10 years. None of it would have happened if it had not been for my military service. Aim High! USAF
Congratulations 🎉 and thank you for your service.
500k at 31 is crazy. I am 43 with 650k
The math is a bit suspicious... He would have had to save $1300 a month since the age of 18 and get a 10% annual return. It's possible, but seems unlikely when starting out in the military as the salaries are pretty low.
He’s doing awesome! I’m 42 with only $330k
He’s an outlier for sure but it’s not crazy considering all your living expenses are paid by the military and they don’t even pay taxes while abroad from what I heard.
@@garyishhe is not an 0:20 officer, he is enlisted. His pay grade is E-6. I believe that is a Technical Sergeant.
@@pensacola321 so what part of what I said doesn’t apply to an E-6 ?
Good for him learning financial literacy at such a young age. I love that he gives his fellow service members free financial lessons.
I am so happy that i made a productive decision about my finances that changed my life forever. I am a single mother and i live in Florida, i bought my second house in September and i hope to retire next year at 40 too if all goes well. Thanks to Mrs Elizabeth Messer for helping me achieve this.
Wow. I'm a bit perplexed seeing her been mentioned here also Didn’t know she has been good to so many people too this is wonderful, I'm in my fifth trade with her and it has been super.
The very first time we tried, we invested $1000 and after a week, we received $5900. That really helped us a lot to pay up our bills.
I'm new at this, please how can I reach her?
she's mostly on Telegrams, with the user name.
@Annmesser15 that's it...
Crazy how much they spend and Italy is way cheaper then the us
Yeah I live in south of France and I spend half of them, ridiculous
Yep was gonna say their expenditure is kind of insane, specially for where they live.
most of it is covered by their allowance.
@@GrahamWinship They should live on their allowance and save up all the salary to have a more realistic scenario of how retirement would probably be like. Without a golden visa they're screwed in europe trying to retire early on what they'll have by 40.
@@GrahamWinshiplooks like they are spending just because they don't get this money otherwise
I'm so happy I made productive decisions about my finances that changed my life forever,hoping to retire next year.. Investment should always be on any creative man's heart for success in life
You're correct!! I make a lot of money without relying on the government. Investing in stocks and digital currencies is beneficial at this moment.
Thanks for the advice! I'm new to financial planning and wasn't sure where to start. Any tips on finding a reliable financial adviser or resource to guide beginners?
As a beginner, it's essential for you to have a mentor that is verified by finra and SEC to keep you accountable. I'm guided by a widely known financial consultant Stacey Macken
Stacey demonstrates an excellent understanding of market trends, making well informed decisions that leads to consistent profit
I remember giving her my first savings $20000 and she opened a brokerage account for me it turned out to be the best thing that ever happened to me.
That baby looks like a doll, she’s so cute ❤😊
Me, an italian:
"TF is this guy doing to make such money in Italy?!"
Me after hearing him talk:
"Oh, whatever. He is american."
molta gente fa 100k in Italia, magari non da impiegati, ma se hai una attività si può benissimo.
@@user-xr3ce1br9i Vero, ma in genere se c'è una specificazione del salario così precisa, si tratta di un lavoro da dipendente.
Wait until some Americans come and say, "omg! Italy is so cheap and you have free healthcare and you can walk everywhere, omg!"
@sauloncall okay I'll bite....is the above not true?
I'm an American that knows next to nothing about Italy, but all the stereotypes lean into what you described.
@@sauloncall point is Italy is cheap for Americans salaries. Italy is not cheap for Italian salaries.
Very disciplined fella and grounded. Much respect to him!
congrats and to others who are doing so well. It is so NICE to have a channel that is not filled with how to live overseas on $800 Dollars. You do what you have to do but you can't out run INFLATION on a fixed income!
Love seeing more of these types of people, not influencers
He is an example that every military member should learn from. Job well done 👍
$1,280 a month on food for 2.5 people in Italy??
they travel as well
I thought it was high as well, but given the age of the baby I attributed it to 'convenience' spending. My bill shot through the roof in the baby stage - too tired and busy to cook.
Family of 4 here living in the exact same area. We spend in groceries around 600 a month and take out/dining out 250. He most likely spends at the commissary on base which is more expensive.
A lot of crybabies in the comment section because they’ll never achieve what this Airman has accomplished. Great job, man! Don’t worry about these negative comments and keep doing you
Cry babies is an understatement. More like haters. 😂
Cost of living in a lot of Europe is a lot lower than the US. 110k is a lot in Italy for a household. Look how much he can save and still enjoy his life. It is just different and better in a lot of ways.
Yeah salaries are also super low in these parts. His monthly expenses are what some people will make as a salary in Italy or Spain. Privileged Americans have it good!
Congratulations on your beautiful little miss babygirl! Italy is so large, what’s the top more affordable places to live there?
Nice job man. That is my biggest regret, is not joinging the Chair Force to retire at 38. If i could do it again, I would!
Monthly savings is very high, Good Job Guys!
great video 🎉
Great job 👍🏽
Get it my guy!! You're incredible, and the Military is better off for having such a seemingly even keeled level headed mature young man!
1.4 Million Americans are active duty military. Salaries in America are higher. They don't get paid less when they move around the world. that's why more young people should join the military.
Him doing the floss dance for the baby is probably the best part.
Smart couple however I would highlight that this why the US military should downsize. And not spend so much on foreign wars and affairs.
You are doing a GREAT job!! It helps a ton to have a wife to on the same page......Fantastic!!
This couple's housing and utilities and groceries is almost all of our fixed monthly budget as a couple living in the UK and we're on a way higher salary than them, in a way higher cost of living location. 🤯Suspect they're in for a reality check if they want to retire early on that type of monthly expenditure, specially if they eliminate the Portugal golden visa which could very well happen by that time.
His wife is going to be working once he’s out of the military (they said that) and he gets a pension from the military outside of what he has already invested for retirement…he’ll probably also get medical disability too. It sounded like he will be doing some finance work. Retirement doesn’t mean not working. They’ll be fine.
Looks like a humble guy. Congrats to him.
Looks like he is an E-6 paygrade. Tech Sergeant .Nice assignment and he is doing very well for his age. Nice job...
The savings/investment in the pie chart at 3:27 and 5:53 do not add up. CNBC: please check your numbers.
Most of these people are not doing FIRE. It's a misnomer. it's more like FIDOS = Financial Independence Do Other Stuff.
Shout out this couple being DEBT FREE BEFORE marriage. WHOOP! WHOOP!
Smart guy. Should’ve joined the Air Force haha. Marines we lived for the day and didn’t think about things like that lol. Unless you weren’t in a combat role.
Out of all the financial institutions on RUclips you are the only one who gives the easiest way to get rich. Financial education is indeed required for more than 70% of the society in the country as very few are literate on the subject ..... Thanks to Anni Juncina the lady you recommended.....
On the grand scheme of things, once you understand the potential of trading, you can bet on it but I think people need the education to fully understand...
I think to combat the negative effect of inflation, it's a good idea to diversify your portfolio across different asset classes, such as stocks, bonds, cryptos and real estate, since this can help. protect your portfolio against inflation
Let's face it... Buying more stocks & index funds during stock markets are scary Which makes it really hard to do for mostly people like me. I have 260k want to transfer into an s&s isa but it's hard to bite the bullet and do it.
Fact about investing is money invested is far better than Money saved. When you invest, it works for you and help you bring more money back to you
You're right! The very first time i tried. I invited $1000 and after a week, I receive $10,000, that really helped us a lot to pay up our bills
As a soon retiree, keeping my 401k on course after a rocky 2022 was my top priority, but I have been reading of lnvestors making up to 250k ROI in the stock market, and it’s overwhelming. any recommendations to scale up my ROI before retirement will be highly appreciated.
The current market might give opportunities to maximize profit within a short term, but in order to execute such strategy , you must be a skilled practitioner.
Having an investment adviser is the best way to go about the market right now, especially for near-retirees, I've been in touch with a coach for a year now mostly because I lack the depth knowledge and mental fortitude to deal with these recurring market conditions, I made over $320K in profits so far, Its clear there's more to the market that we avg joes don't know that Investment advisors know
Please can you leave the info of your lnvestment advisor here? I’m in dire need for one
I don't comfortably throw suggestions around but monica shawn marti is the name.
I'm grateful for this tip. Finding your handler was simple, and she seems to be quite capable and adaptable. I scheduled a phone call with her.
*Just traveled for a second time to Portugal’s The Algarve. My aunt and uncle live there. So many expats living there. It is ideal and beautiful. I could see myself living there too.* ❤❤
For people who didn't watch the entire video. Yes, I know they are currently living in Italy. 😂😂
You can get by in those countries just knowing English? Italy, Portugal, Germany?
Yes very easy. English and Spanish
Especially when you have contact with younger people
English is taught since second grade as an additional language
For those commenting on his housing costs, his housing allowance might be on a use it or lose it basis
Overseas Housing Allowance (OHA) is "use it or lose it" for sure. You are alloted a certain amount and also get monthly utility Allowance as well. Basically, they will only give you precisely what your rent is (up to your cap).
I guess so. It is still stupid and crazy idea
They could easily live in apartment half the size
Smart dude. This is what we call, *hubby material.*
As part of my retirement plans and also owing to the very shaky housing market now, I just sold a property in Philly and I'm thinking to put the cash in stocks, I know everyone is saying its ripe enough, but Is this a good time to buy stocks? How long until a full recovery? How are other people in the same market raking in over $200k gains in months, I'm really just confused at this point.
Yes, a good number of folks are raking in huge 6 figure gains in this downtrend, but such strategies are mostly successfully executed by folks with in depth market knowledge, And it also all depends on how long you're willing to hold for, stocks might likely tank further, but making serious gains in this downtrend wouldn't be a problem if you're a pro.
I wholeheartedly concur; I'm 60 years old, just retired, and have about $1,250,000 in non-retirement assets. Compared to the whole value of my portfolio during the last three years, I have no debt and a very little amount of money in retirement accounts. To be completely honest, the information provided by invt-advisors can only be ignored but not neglected. Simply undertake research to choose a trustworthy one.
Impressive can you share more info?
There are a handful of experts in the field. I've experimented with a few over the past years, but I've stuck with ‘’Colleen Rose Mccaffery” for about five years now, and her performance has been consistently impressive. She’s quite known in her field, look-her up.
Thanks a lot for this suggestion. I needed this myself, I looked her up, and I have sent her an email. I hope she gets back to me soon.
Congrats! I’m sure this guy will do well financially and in retirement based on his disciplined approach to investing
That's a pretty big budget for Italy.
Nice
Portugal will welcome you both beautifully (written by a Portuguese tax and immigration lawyer)
TSP millionaire and FERS goals, same here
NiCe
Guys it's not about your asset base. It's about your spend. You don't need 3 million to retire. You just need to stop spend on crap. Even this guy has multiple what I'd consider frivolous expensive monthly subscription services and has a 4 bedroom house for 2 people and a baby. Obviously those things may be fine but what's the point of the process? Maybe focus on less and enjoy life more and cut down on earn and spend.
It looks like he won't have more money in his wallet if he moves to smaller house.
It is this strange "allowance" thing.
Looks like US Army likes to waste money simply
love the family, i wish u luck brother. love from malaysia. i think we have a similar baby age, my newborn is 4dec2023 haha
Wait but why FIRE if you plan to continue to get a college degree? Won’t you be looking for a job after getting the degree?
He’s getting his finance degree so he can be better at his business of teaching financial literacy to veterans and service members.
Could anyone explain wtf the US gets to have military bases in other countries? This is insane...
Wow everyone should join the military. Every American who wants the American dream.
Except for those who don’t want to die or end up with ptsd from being sent to war.
We shouldn’t have to do that to achieve The American Dream!
Wait they only have like around $2K left per month. YIKES!
Cute family ❤
It's the ravioli for me 🤤 2:37
Americans moving in with their insane salaries to Europe is only pushing prices all the way up for locals. This is happening all over the Mediterranean and this type of videos don’t even bother to cover the impact of all of this.
Stop 😭😭
Exactly... Not thinking what it causes for country in long run
It's giving Ben Affleck.
Dunno why hes getting so much hate in the comments. If you put your life on the line for your country the least they can give you is some housing and food allowances.
Haters equate to jealousy 😂
@@dredayful 😂Facts!
Puting life on line...in Italy or Germany? 😂😂😂
His mom is cute.
Im never within 5 minutes of a new video!
Does he not have to pay the taxes in Italy and why can he still use his 401k, when he lives in Italy?
He is hired by us army. so I am pretty sure he does not pay taxes in Italy
Nope he doesn't because of a thing called Sofa status. That's why his salary is awesome in Italy...otherwise it would get taxed 35% to 40 %...
Very inspiring 🇺🇸❤
It's great to hear that you are considering investing in the stock market after being inspired by the success of Munger and Buffett with Berkshire Hathaway. Here are some key points to consider when investing a significant amount like the proceeds from selling your apartment:
Numerous compelling stocks span various industries for you to consider tracking. While it's not necessary to act on every prediction, enlisting the guidance of a financial advisor is advisable. They can assist you in determining optimal entry and exit points for purchasing and selling shares or ETFs, ensuring well-timed decisions aligned with your investment goals.
I agree, that's the more reason I prefer my day to day investment decisions being guided by an advisor seeing that their entire skillset is built around going long and short at the same time both employing risk for its asymmetrical upside and laying off risk as a hedge against the inevitable downward turns, coupled with the exclusive information/analysis they have, it's near impossible to not out-perform, been using my advisor for over 4years+ and I've netted over 2.8million.
Kindly share the details for reaching your advisor. With inflation negatively affecting my funds, I'm in search of a more lucrative investment strategy to optimize their performance.
Leicia Zavala Perkins is the licensed advisor I use. Just research the name. You’d find necessary details to work with to set up an appointment
I greatly appreciate it. I'm fortunate to have come upon your message because investing greatly fascinates me. I'll look Leticia up and send her a message. You've truly motivated me. God's blessings on you.
How is his net income almost 10k …
$800 billion per year for military wars
Yeah, no one talking about how much it's costing to keep this guy in uniform and then pay him in retirement. Note that I'm not begrudging him individually. But when the US military budget is quickly heading toward $1 trillion, that's scary. How much better would the US be if some of this money were being used to support education, healthcare, housing, infrastructure, small businesses, and so on.
I never understood why family of 2 plus toddler need apartment with 4 bedrooms and 2 bathrooms.
Do they sleep in separate bedrooms? 😂
If they would switch to typical 2 bedroom place (60-80 square meters) they would save a lot every month.
But I guess this is "allowance" thing... they have flat as big as military allowance can get them 😂
Being overseas that is his monthly housing allowance. He can't keep any of it whether he pays $100 a month or $3000 a month. It goes off of what the lease amount/rental contract happens to be. It's not the same as the housing allowance while living in the US where one can rent a cheaoer place and keep the rest.
Retiring and living on savings is not the way to go. Money will run out eventually with medical health bill to consider in old age. The value of money will depreciate over time due to inflation so 1million today will seem like 100k in the future.
Retiring and having savings generate a passive income that will appreciate in value is important
He seems to know what he's doing. I'm guessing the $1 million will be invested, and he'll live off the interest/dividends.
He will get a pension.once he retires
I love my job has long has I have health I will be working
Is it just me, or is a year and a half not that long from first date to marriage?
If only you knew they personally 😮💨
Ahhh another person on CNBC Make It milking it by offering classes.. unique.
Maybe you should do something with your life that’s meaningful
@@psyko0906 Yours is so meaningful you have time to respond to RUclips comments, nice. I'll be like you.
I'm favoured, $22,000 every week! I can now give back to the locals in my community and also support God's work and the church. God bless America.
Same here, with my current portfolio made from my investments with my personal financial advisor I totally agree with you
Wow! Kind of in shock you mentioned expert ,Elizabeth Regina Nelsen.What a coincidence!!
Elizabeth Regina has really set the standard for others to follow, we love her here in the UK as she has been really helpful and changed lots of life's...
Life is easier when the cash keeps popping
in, thanks to Elizabeth Regina services. Glad she's getting the recognition she deserves
I use to work 3 jobs, full time at Walmart, a server at night and Lyft on the weekend, untill angela danielle crowe change my story.
An overseas military service member salary of 110,000 is the equivalent of probably $200,000 for a civilian in the United States.
Good for them. But they are treated very well by a generous Uncle Sam.
Join the military then or stop 😭
I am not crying Cletus. As a matter of fact I am retired military, loser.@@thinkforyourself9334
First
Sounds like a great plan that this guy has for his family. I really hope that marriage lasts otherwise he might get taken to the cleaners. I know I am a pessimist😆
2200 a month in Italy for housing is so stupid 😂
The man has $500k invested. I trust his judgment on this. 🤷🏾♂️
@@stefanossmitty3318 well everyone can invest with an American salary in a small town in Italy. Nothing special
@@paupy40 well if you have $500 k invested, then I guess so 🤷🏾♂️
@@stefanossmitty3318 I have 600,000 euros in real estate and I make less than this guy, Americans have it easy and you guys think you are special 🤣
He might be in the core of the city center
Oh that's it only 110k a year? No clue how he manages to live in such poverty.
And thats where your tax dollars go folks, military overseas have a great thing going on in terms of free money.
That woman gonna take all of it.
Really nice work
as soon as he said i’ve saved 500,000 at 31, i stopped watching.. 99% of the population by 31 wont have that sort of money in their lifetime, let alone at 31, of course then you can retire by 40. Thumbs down.
You sound like a defeated man.
That housing allowance is awesome, it's great to see people achieving great things with patience and a modest income. Ofcourse Europeans will complain, but they should ask their politicians why they have half the salaries for the same jobs
Don't you really get that salaries are not the same around the word???
Prices also are not
@@krewetkaaaa Did you read my comment and others under this video? Genuine question. Quite clearly a lot of comments from Italians regarding his salary being high for the location, maybe more time reading and less time commenting would help you???
110k a year is 3 times what a italian make a year
The US is also an expensive country to live in.. so Europeans are able to save more.. the median net worth of an Italian is same as the median net worth of an American.. $107k.. and the median net worth of Danes, Swiss, French etc is a lot more..
@@garyisheuropeans saving more?
He lives with US paycheck in Italy.
Spending twice more than typical italian in Italy
@@krewetkaaaa not sure why both facts have to interfere with each other.. he’s saving more because he has an American salary and European expenses.. but if we make an apples to apples comparison (Europeans luv in Europe and Americans living in America) then the median European saves more than the median American. Look up global networth statistics
woah I never knew military got a housing and meal allowance ON TOP of their salary. What is the salary for then? lol
The salary is for Serving his country, protecting your freedoms, service before self, late nights, early mornings, sacrificing time away from his family, deployments, war, while also being required to stay physically, mentally, emotionally and spiritually fit, constant training and continuing education, and giving back to his community
@@sheh.9163military service members, especially after they get some rank and seniority are treated very well.
@@sheh.9163 ok bud name the last war we fought “for our country’s freedoms” lol
@@inbracedefeat this is exactly why he gets the salary he does bud,smh… so you can be willfully ignorant. Bxtchin on the internet about what he’s earned, when nothing is stopping you from literally doing the same. Tell me, what have you sacrificed? Given up? How have you contributed in any meaningful way to this country? Does your family sit up at night worrying if you’ll make it home? Do you miss birthdays, holidays and other special occasions with your family?
@@inbracedefeat also some service members intentionally marry to get better benefits but they'll never admit it 😉
The math isn't mathing. Let's break it down.
In the original article they mention his family's spending in March 2024.
"Savings and investments: $2,230 deposited into his TSP and taxable brokerage account"
Assuming his amount of income saved has remained the same during his 13 years of service (age 18 to 31), he would have been contributing $26,760 annually (12*$2,230)
With an average return rate of 6% (conservatively) he would have just over $500,000 after 13 years. (Roughly $505,286.00)
Base pay in the military is less than that when you first join at E1 like he stated, so he physically could not have save $26,760 his first few years.
It is near IMPOSSIBLE to save $2,230 a month until hitting at least E4 (based on 2011 pay charts) when the annual basic pay for E4 was 2,230.80 (an almost exact match to the figures they claim mind you)
Even with the benefit of the doubt and not getting any of his income taxed wouldn't put him at the figures they suggest in the article. Even if he saved money from his housing and food allowance it would be near impossible.
A realistic expectation from 18 to 31 would be around $122,733.89-$159,397.63 on a maxed contributions Roth IRA
My math might be wrong but I hope this gives a little more insight into how these claims are harmful to those saving what they already can.
You are absolutely right. Assuming he enlisted at 18, it would not be possible. Also, I went on the Air Forces website and the max salary is 55k for enlisted E7. Given that being in the military covers the majority of the cost of living, but this guy is wearing nice clothing and watches. He would have had to inherited some of the money and or hit a massive equity return such as bitcoin.
Thank you for your service 🫡
From $7K to $45K that's the minimum range of profit return every week I thinks it's not a bad one for me, now I have enough to pay bills and take care of my family.
Wow that's awesome
But I still love my mentor Sophia
To obtain financial freedom, one must either be a business owner, an investor or both, generating passive income particullarly on a weekly or monthly basis. That's the key to living financially stable....
I'm celebrating a $52k stock portfolio today. I started this journey with 6k. I have invsted on time and also with the right terms now I have time for my family and the life ahead of me
My husband is a military doctor and since I started investing under Sophia I make a withdrawal of over $345k