Can't believe I've been following this journey for 9 months. This year is really flying by. I've tried to comment on every video to show you and others that this is possible and we're on the journey with you. Great job so far
Subscribed - glad the algorithm surfaced this video for me! I wish more people felt comfortable being public about personal finance stuff since it's such a great opportunity to learn and share financial knowledge.
My Roth IRA is invested in the same way as my standard brokerage account is - 90/10 split between a total market S&P500 fund and an ex-US international market fund. There's not a super logical rationale behind this split - it's really just what I'm comfortable with.
Just found your channel! Great content and congrats for increasing your Networth so diligently 😃👏🏾 Quick question though, I've always wondered why when people have such a small amount of, why y'all just don't pay it off with some of the cash you have in either savings or investments?? It will be made back sooner than later, right??? Sorry I'm debt free but not yet sure about the logistics of investing =>.
Thanks for the question, and thanks for stopping by! The reason why I (and others) invest more in the markets compared to paying off debt comes down to personal comfort as well as the interest rate of the debt. My student loans have an interest rate of 2.5%, and my medical bills have 0%. The S&P500, on average returns ~10% per year, and about 6-7% after average inflation (based on CPI). We're essentially making a bet - a good bet, but a bet nonetheless - that we'll make more money in the stock market than we would if we first paid off our debt and then invested. There is definitely an argument though that it feels *really* nice not to have any debt. And I wouldn't fault anyone who pays off their debt early, even if it meant being slightly less efficient with their money, if it helps them sleep better at night.
@@celestial_sphere3 Thank you! Though as I say in the video, it was only possible because of a series of fortunate and unfortunate events. Turned 22 this year.
@@raymondwzeng nice man, keep on doing your thing. You're in a great place at 22. I know your debt is low, but when you finally become truly debt-free, the world just opens up that much more. I became debt-free 3 years ago around your age and my net worth multiplied greatly. Just subbed to your channel, look forward to seeing your growth!
Somewhere in the realm of $1.5M. My number (based on real current spending) is closer to $1M at a 3.5% withdrawal rate, but that's not necessarily accounting for things like increased healthcare costs.
Can't believe I've been following this journey for 9 months. This year is really flying by.
I've tried to comment on every video to show you and others that this is possible and we're on the journey with you.
Great job so far
Subscribed - glad the algorithm surfaced this video for me!
I wish more people felt comfortable being public about personal finance stuff since it's such a great opportunity to learn and share financial knowledge.
You will make it to 1 M before 10 years pass by great work bro
What do you invest in for your ROTH IRA if you don't mind me asking?
My Roth IRA is invested in the same way as my standard brokerage account is - 90/10 split between a total market S&P500 fund and an ex-US international market fund.
There's not a super logical rationale behind this split - it's really just what I'm comfortable with.
@@raymondwzeng Thanks for sharing!!
Just found your channel! Great content and congrats for increasing your Networth so diligently 😃👏🏾
Quick question though, I've always wondered why when people have such a small amount of, why y'all just don't pay it off with some of the cash you have in either savings or investments?? It will be made back sooner than later, right??? Sorry I'm debt free but not yet sure about the logistics of investing =>.
Thanks for the question, and thanks for stopping by!
The reason why I (and others) invest more in the markets compared to paying off debt comes down to personal comfort as well as the interest rate of the debt. My student loans have an interest rate of 2.5%, and my medical bills have 0%. The S&P500, on average returns ~10% per year, and about 6-7% after average inflation (based on CPI). We're essentially making a bet - a good bet, but a bet nonetheless - that we'll make more money in the stock market than we would if we first paid off our debt and then invested.
There is definitely an argument though that it feels *really* nice not to have any debt. And I wouldn't fault anyone who pays off their debt early, even if it meant being slightly less efficient with their money, if it helps them sleep better at night.
@@raymondwzeng I understood that perfectly clear, and it makes sense yes! Thanks for answering! And cheers to making stock market gainsss 😃💸💸
Impressive numbers. How old are you?
@@celestial_sphere3 Thank you! Though as I say in the video, it was only possible because of a series of fortunate and unfortunate events. Turned 22 this year.
How old are you if you don't mind asking?
@@DWAnton I turned 22 this year! Graduated from college a year early - there's a long story behind that haha
@@raymondwzeng nice man, keep on doing your thing. You're in a great place at 22. I know your debt is low, but when you finally become truly debt-free, the world just opens up that much more. I became debt-free 3 years ago around your age and my net worth multiplied greatly. Just subbed to your channel, look forward to seeing your growth!
whats your FIRE number?
Somewhere in the realm of $1.5M. My number (based on real current spending) is closer to $1M at a 3.5% withdrawal rate, but that's not necessarily accounting for things like increased healthcare costs.