What is your net worth?

[purdygood 331]

Just now, jonnyutah said:

37 dollars.

But I live in Hungary so I am swimming in tail and i am considered quite wealthy. 

Genuinely curious. Who would you say is the hottest woman ever to come from Hungary?

[nobody 2,555]

20 hours ago, CaptainObvious1 said:

Someone explain the retirement thing to me.

If you're retirement was $1.5M, which is a generous assumption and you got a 15% rate of return for 3 years, you would have 2.25 million or so.  The 401K yearly limit is $23,500 I believe.  So if you maxed that out for 3 years, you put roughly $70K in the account.  How is someone all of a sudden worth $3M in retirement?

 

I was curious about that, too, since I would love to have a larger retirement.  I even start typing out questions.  Then I remembered that this is the internet and that is probably complete horseshìt.

[Horseman 2,352]

23 hours ago, CaptainObvious1 said:

Someone explain the retirement thing to me.

If you're retirement was $1.5M, which is a generous assumption and you got a 15% rate of return for 3 years, you would have 2.25 million or so.  The 401K yearly limit is $23,500 I believe.  So if you maxed that out for 3 years, you put roughly $70K in the account.  How is someone all of a sudden worth $3M in retirement?

 

He had way less than 1.5M hoping to retire 10 years later with 2.0M.  Rule of 72 would doubles your money in 7 years at 7% plus contributions.  But he doesn't know anything about finances.  

3 hours ago, nobody said:

I was curious about that, too, since I would love to have a larger retirement.  I even start typing out questions.  Then I remembered that this is the internet and that is probably complete horseshìt.

If your employer has after tax 401K option you can put in 70k a year, then roll the after tax directly to Roth (google maga backdoor roth). That along with regular backdoor roth and HSA you can funnel about 90K a year into tax sheltered retirement accounts. That's what I did for the last 6 or 7 years before I retired.  

And if you like money don't ever vote democrat.  Biden's Build Back Better would have closed those "loopholes".  Thank God for Joe Manchin.  

[Horseman 2,352]

23 hours ago, TrailGuy said:

Non qualified annuity boyo.

After tax dollars whose gains count as ordinary income.  Plus fees and commissions.  You'd be better off just investing and paying capital gains.   

Pretend CFO confirmed.   

[Hardcore troubadour 14,903]

22 hours ago, TrailGuy said:

Sure thing boyo

Staring at my balance right now

My name is Elmer J Fudd. I own a mansion and a yacht. 

[Horseman 2,352]

8 hours ago, TrailGuy said:

Combination of new employer signing bonus, new employer equity vesting and inheritance.  Last year I had a near 40% return thanks to some communications sector and PE funds plus some other aggressive growth funds.

 

8 hours ago, Alias Detective said:

gotcha

He's so full of chit his eyes are brown. His words:

Quote

My wife's mom recently passed away and had nothing other than memories and pictures to pass on to my wife.  I think a couple of pieces of jewelry would be a nice legacy to leave.  And bonus, if we start to go broke I can always send her down to the local pawn shop.

 

[CaptainObvious1 319]

40% return in one year. LOL

[mmmmm...beer 790]

On 2/4/2025 at 8:06 AM, Horseman said:

Hey guys. PM @TrailGuy if you want a pretend CFO that can quadruple your money in 3 years.  

HFS

 

I dunno... we had a +52% market the last two years.  

I went from $192k to $600k in my retirement in the 4 years from 2016 - 2020.

[mmmmm...beer 790]

On 2/4/2025 at 8:19 AM, Horseman said:

Side note. Ebay and PayPal both send you 1099-Ks now.  Everyone has to now although it doesn't go down to the $600 limit (LOL) for a couple years.

Have the payments say "Family-Friends" if you dont want it reported to the IRS.  

Maybe Trump can fix that Biden cluster too.

Yeah this pissed me off.  I was making $1k a month just flipping old watches on ebay.  Then it became a huge hassle with figuring out taxes and all sorts of crap.

[mmmmm...beer 790]

On 2/4/2025 at 10:05 AM, TrailGuy said:

He's a self proclaimed rich guy but buys his sheets at Costco?

Marshalls... you can get decent sheets there.

[mmmmm...beer 790]

5 hours ago, nobody said:

I was curious about that, too, since I would love to have a larger retirement.  I even start typing out questions.  Then I remembered that this is the internet and that is probably complete horseshìt.

Honestly... time and compound interest.  I've had some good conversations the last few years with 3 guys had over a million in their 401k/TSP, one of them had 2 something.  I asked them just how they did it.  All of them, either someone told them or they just did it on a whim, put all their stuff in the SP500 equivalent of their 401k/TSP and let it ride.  They added to how much they contributed every pay raise, bonus, etc, until they were able to max that yearly IRS limit out, and then just kept maxing out.  They lost money when the market did, and gained it all back when the market did.  That's it.... no secret... time/compounding interest, riding the SP500 index.

[mmmmm...beer 790]

1 hour ago, CaptainObvious1 said:

40% return in one year. LOL

That's dooable, not easy but I've seen it done. I've not done 40% but.... 39%, when the SP500 was over 30% in 2019.

[mmmmm...beer 790]

2 hours ago, Horseman said:

After tax dollars whose gains count as ordinary income.  Plus fees and commissions.  You'd be better off just investing and paying capital gains.   

Pretend CFO confirmed.   

One of my rich buddies swears by his taxed brokerage account being where it's at.  He's always throwing out some tidbits we sponge off of.  Good dude... 

[KSB2424 3,148]

I just knew @mmmmm...beer would be front and center in this thread.  The biggest "Look at me!"  mofo since @bigpete

[easilyscan 855]

I've always had an interest in the stock market. In 1993 I opened a brokerage account in a small local bank. Pretty sure I started with 15K. Five years later, in 1997, I was fed up with the insanely high commissions & the fact that the broker wasn't there half the time when I had called to purchase a stock. Transferred the account to Fidelity & added funds when it was available. Also transferred 3 mutual funds held at Bridgeway, T Rowe price, & Wasatch. By 2001, it had reached 200 K & I thought I owned the world. I won't say how much it's worth now, let's just say that every time I login, I have to pinch myself. 

[mmmmm...beer 790]

3 hours ago, KSB2424 said:

I just knew @mmmmm...beer would be front and center in this thread.  The biggest "Look at me!"  mofo since @bigpete

Hahah.. first time back in this sh!thole in months.  Saw something that caught my eye.  I don't recall posting how rich, in a non-rich more mediocre way,  I am.  Man you got jelly in your old age son. 

[Alias Detective 1,388]

7 hours ago, KSB2424 said:

I just knew @mmmmm...beer would be front and center in this thread.  The biggest "Look at me!"  mofo since @bigpete

[mmmmm...beer 790]

1 hour ago, Alias Detective said:

Hello shadow.  Good to see your still a miserable fock. 

[nobody 2,555]

11 hours ago, mmmmm...beer said:

Honestly... time and compound interest.  I've had some good conversations the last few years with 3 guys had over a million in their 401k/TSP, one of them had 2 something.  I asked them just how they did it.  All of them, either someone told them or they just did it on a whim, put all their stuff in the SP500 equivalent of their 401k/TSP and let it ride.  They added to how much they contributed every pay raise, bonus, etc, until they were able to max that yearly IRS limit out, and then just kept maxing out.  They lost money when the market did, and gained it all back when the market did.  That's it.... no secret... time/compounding interest, riding the SP500 index.

That's what I do too, but I didn't have 150% return since this thread started.  Plus I have a self directed IRA that outperformed the S&P thanks to nvda.

[mmmmm...beer 790]

8 hours ago, nobody said:

That's what I do too, but I didn't have 150% return since this thread started.  Plus I have a self directed IRA that outperformed the S&P thanks to nvda.

Yeah... since 2021... would have been awfully hard.  Unless he was into crypto or something.

[Mark Davis 338]

2 hours ago, mmmmm...beer said:

Yeah... since 2021... would have been awfully hard.  Unless he was into crypto or something.

Well, and few of us old enough to be using these type message boards are young enough that we should be having risk thresholds of having enough crypto or other high risk investments to garner those type numbers.  Index funds may be boring, but they get the job done like 4 yard runs on 1st and 10.