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How Others Get to Retire Rich. You’ll Need $1.7 Million by the way.
So just Retire Rich? That sounds easy enough. Still not rich yet? Well, Summer is in full swing and you are just about to travel. Tuesday is indeed the cheapest day to fly. Or you are catching up on Stranger Things 3. Too late, this article just popped up on your notifications and you dodged it. You grab a Starbucks and mistakenly logged back into Facebook; it’s too late again. You read the headline. You’re welcome. Sorry to burst your Instagram travel life bubble, but this is the reality. Stop being aimlessly busy flexing. The more you spend now, the more you will regret it in the future. It’s true that you don’t want…
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#TravelTypes – Know Who To Vibe With or End Up Fighting
“Are millennials traveling more?” I’ll save you the research. That’s a yes. In the advent of social media, #instagram culture, and $1,000 cellphones with 18 megapixels; Travel is now a staple of every millennials’ life plan. No matter the dollar sign. No matter the student loan gripes nor the crummy jobs, suffice to say; millennials might just die without traveling every 2 years. Most Americans don’t even own a passport, let alone know their travel type. Back in early 2016, I got a call from my cousin. She was heading to Dubai for the 3rd time. Admittedly, she said that the food is trash (which is why we don’t often see photos of #dubaifoodie).…
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What Every Millennial Black Woman needs to know about Money
Per the 2015 Asset Funders Network report, the median wealth of White single women was $15,640. The median wealth for single Black women and Latina women was $200 and $100 respectively. The usual reaction to this is, “Not me”. We have to settle quickly into this new acceptance phase and dig through the actual statistics because Black millennials are simply underprepared. For Black women, it’s not a just glass ceiling; it’s a thick platinum beam. Underpaid and Undervalued Given the current direction of the black community, it’s time to rely on our individual strength and “Lift as We Climb”. It is important to note that wealth in this country looks very different for white…
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Checking Up on How a 35-year old Makes and Spends $100,000+ in DC
The last follow-up to the wildly popular, The Budget of a 33-year old Govt. Auditor Making $78,781.50 in DC, which preceded the other popular one, The budget of a 31-year-old Govt. Auditor Making $64,000 in DC. Corps Backstory And How I Used to Spend My Time Little known fact, I have a tattoo on my left arm that says “Law” in Chinese… Well, at least I hope it says “Law”. Got it back in Palms Springs, CA when I was in Marine Corps Communication, and Electronic School (MCCES), way before it was cool to be tatted up. It was always incomplete and in 2020, I’ll get the tattoo of “Order” on my right…
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Millennial Newlyweds Bury Themselves In $100,000 Worth Of Debt
First things first, you never lose by marrying the right person. I don’t think there’s a value for that. After chatting it up at length with my buddy Ecclesiaste Clee Guerrier on what was probably another lighting round of social events starting from Marvel Phase 4, Marvel Phase 5, and more Marvel Phase 3; we finally started to talk about actionable goals, the American school system, politics, and wedding costs? Yep, it really happened in that order. We also talked about cars. However, this plot line was mathematically intriguing. So here’s my theory. I think newlyweds are often shocked by the sticker price of their own debt after the first three months of…
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How to Set Up a Winning Multi-Generational Family Financial Plan
The Net/Max Financial Plan for Married Couples (With or Without Children) “20% of Americans don’t save any of their annual income. Over 40% of Americans have less than $10,000 saved for retirement. Two-thirds of Americans would struggle to scrounge up $1,000 in an emergency. About 77 million Americans have debt in collections, according to the Urban Institute. While the average American owes over $171,000 on their home, and the average monthly mortgage payment is more than $1,000.” 21 Eye-Popping Personal Finance Statistic About Saving Money & Debt, Invested Wallet With these stats, it is about time that I drafted a Net/Max Financial Plan for Couples (with/out Children). For those brand new to this thread,…
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Critical Tips and Tricks That You Need to Know Before Buying a Home
When I bought my first home/condo in late October 2016, once the paperwork was signed and the keys were rendered to me, I sat on the floor and thanked God for that moment. I also proceeded to play ratchet music for the next hour. By November 2016, the 2nd-floor pipe froze and voila rain forest in the living room. I actually laughed. I wasn’t even in town so I figured that I rather go to sleep and handle it in the morning. For one, the floor was eventually replaced and the drywall was painted over once the home dried; I walked away with an important lesson. “Nothing Works All The Time…”…
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Getting Started Early. How to Invest While In College
Graduation hit. You tabulated all the congrats on social media. I’m sure you have 9 pics for your best nine. The haters are mad salty. The Likes are up and the pressure of real-life hasn’t quite hit. So before you hop on your #travelnoire excursion or kick back a few mimosas at brunch consider this, Student loans and Bills are coming! Running a successful wealth building legacy is a relay race, not a solo sprint. What’s working in your favor is time and personal effort. Here’s the outline or success money script that you need to consider. 1. What are your goals? Dreams? Fears? and Aspirations? 2. What’s your Financial Plan for the next 5, 10, 15-years?…
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From -$110K in Debt to $115K+ in Four Years
Hello, I’m Lawrence, a 36-year old Haitian-American plus Brazilian man, who went from over -$110,000 to $116,000 in net worth in 4 years. Starting off in January 2014 with $5,800 in credit card debt, $105,000 in student loans, additional moving fees of $5,000 pending, and a new job in DC, I was a bit stressed. As of December 2018, I closed out the year with a huge sigh of relief. My net worth peaked at $116,000+. “Sometimes you go as far as you can and then you go further.” I have seen low points back in 2012 in Tallahassee, Florida; working for an annual salary of $21,000. However, the winter of…
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How a 33-year old Millennial Makes and Spends $79,000 salary in DC
The Follow-Up to the Budget of a 31-year old Govt. Auditor making $64,000 Salary in DC. To be honest, 2015 was a rough year. Lesson learned – never break up with a girl around New Year; you will be paying for it all year. She went into Mad Queen mode. I ended up having to move 4 times. But like all things, I persisted throughout the process. In gratefulness, I was able to experience different parts of DC on a fast track from Arlington, to Columbia Heights and finally settling on the land beyond the shadows, Largo, MD. In Columbia Heights, I was able to live a sitcom life. Five bedrooms and two baths shared with…
