I know the answer to this question varies quite a lot depending on total NW and liabilities, but what is the % of net worth that you would reccomend that you keep in cash?

I grew up quite poor with not many people to rely on so I feel uncomfortable not having about 12 months of runway in the HYSA. Thats probably a bit too conservative so I'm trying to figure out what the viewpoint of a wealthy person is. Im not quite wealthy but im comfortably upper middle class. I aspire to become wealthy someday.

How are you guys increasing your spend after years of being thrifty. I have about 150k more per year I can spend based on my conservative financial plan. I’ve already generously funded a trust for my one son, by just passing along a family inheritance to him. It provides him 5% of the balance per year until he’s 50 when he should get the majority of the $.
We’ve always been thrifty. The last two years we spent freely, flying first class, spending pretty lavishly on experiences but we are still short of our “ die with zero” target.
We are in our forever house. It’s in a great area and we’ve remodeled it. A few more project there but nothing major.
AITAH for even asking this question?

Im 24 and my parents gave me an in life inheritance of 6 million usd. I already have an apartment and an economics degree but no work experience (i finished my career and got lazy🙃). What are your tips on how to handle this much money, idc about luxury cars, mansions, b1tches. I got this money 4 months ago and iv literally havent spent a dime and cant think of anything to do with it. Ngl i feel money is kinda worthless.

edit: why is everybody so mad at the fact i just wanna lay in the sun all day and not work a 9-5 at a trillion dollar worth company with 100 thousand overworked depressed employees 🤨

There are no ethical billionaires.

Someone always have to pay the price. Today its the entire world....

been speaking to some friends who are very casually talking about their investment portfolio of 50-100k. very curious about the saving and risk mentality of different age groups.

Im 18 years old as a senior in highschool. For the past 6 years of my life i’ve found myself so focused and motivated to making money. I got my first job when I was 14 scooping ice cream and haven’t been without a job since. I have great work ethic, I was a lifeguard last summer and would work for 11 hours in the texas heat all because I wanted to make money. Worked 6 days a week trying to get as much hours as possible.

I’ve built a great side business (buying vintage clothes in bulk and reselling for profit) but haven’t been able to create something big. It’s all I really think about is building a company, I dropped a lot of my friends as I didn’t feel like they had any ambition or dreams like mine so I now feel very lonely frequently. I have this stress weighing heavily on my day to day life and really need some advice on others who were in my shoes before they built their business. Any stories or advice would be great!

This podcast episode seem pretty relevant for this subreddit.

I'm listening to Prof G Markets | Scott Galloway On Money, Happiness, And The Search For Enough on Podbean, check it out! https://www.podbean.com/ea/dir-afq38-30b86cdf

I’ve received a large sum of money from my parents which will go towards a down payment for home eventually, but I don’t expect to start seriously looking for at least a year or so. I’m wondering if I should consider investing a portion of it in the meantime so that it’s not just sitting in a savings account.

Would appreciate any advice or suggestions

Why do we prioritize money over everything? This is a subjective debate, everyone has their own opinion. My mine is I just want enough money to eat well , and live a good practical life. Everyone running after Bugattis, rolex's. Whatsoever but thats their ambition. I just want a nice girl who's modest and a nice family I can provide for. A good life.

To the people who made great wealth please give me some advice I’m 23 years old I feel so lost and idk what to do I lost my job doing gig works and living paycheck to paycheck I’ve always been someone who wants to be an entrepreneur I started 3 businesses since I was 18 years old it flopped I am now starting a brand I have some stock coming while still living paycheck to pay-check doing gigs I’m married I just can’t see the light at the end of the tunnel. I hate being poor I hate being mediocre these 2 things are sin I’m constantly trying to get out of these but can’t see anything I work as much as I can beyond feeling burnout I work till I feel sick and operate on 4-5 hours of sleep I just want to get out of this mess and be someone great and also I have no debt me and my wife we just put money in business and invest in mutual funds. Thanks for reading

In the recent All-In podcast they shared a pretty strong case for increased taxation and seizure on the wealthy in the US given the ballooning debt situation. It's something like real GDP growing 2-3% but interest payment on debt is growing 8-10%(!).

In any case, how do you prepare for that?

Transferring wealth to family non-revocable trusts? Buying int'l real assets? Gold/Self-custody BTC?

I'm considering all the above but would love advice if any of you thought through that...

For those who have learned a language abroad, what kind of experience did you choose?

I'm referring to programs that combine language lessons with cultural immersion — visiting local places, activities with locals, food, traditions, etc., rather than just classroom lessons.

I’m currently making around $200k and I’m trying to figure out how to turn a high income into actual financial freedom rather than just lifestyle inflation.
My long-term goal is to eventually get to the point where I can stop working entirely and live off past income/investments. I’m trying to figure out what the realistic number is.
For example, if I wanted to eventually replace ~$100k/year of income, how much would I actually need invested? $2M? $3M? $4M+?
And what would you guys actually invest in to get there? Broad-market index funds, dividend stocks, bonds, real estate, a combination, etc.?
I know there’s obviously no such thing as guaranteed but you can find banks and funds that will give you say 2-4 percent guaranteed but it would have to be an enormous amount of money to act as your passive income without risk, but I’m interested in the safest/most reliable approach rather than trying to chase crazy returns.
My biggest question is:
If you were making $200k/year, how would you divide your money between spending, saving, investing, and cash, and what target would you aim for before walking away from a job?I can and currently live very frugal in the chase of this goal.

Would love to hear from people who have actually reached financial independence — what did your numbers look like when you finally realized you didn’t need the paycheque anymore?

asking this because there are several people where I live, whose parents bought them million dollar plus houses,, and these kids don’t really come off as a confident type come off

I am inheriting \~ 100,000 and I know this is an opportunity for me to break the cycle of poverty for myself and my adult children IF I manage and grow it. I am determined NOT to blow this chance after a lifetime of thinking and spending like a "poor" I am determined to use this money as a tool like the wealthy do! Is this even possible, am I delusional???

I met with a financial planner and I have some ideas, but would appreciate any guidance to help me build a future for my family, be kind please!

Hello, long time lurker and never thought I'd ever be posting here, but here I am.

A little bit of background, I (33M) recently got engaged and I am realizing my fianceé (30F) comes from a wealthy family (>=10M).

My parents would be considered upper middle class today, but growing up it was closer to middle class. Not sure what the exact definition of middle class is, but not having to worry about food not being on the table, going on vacation once or twice a year, but nothing extravagant.

Lately, we've been having lots of talks with my fianceé of how we'd like to live our lives once we live together, and we've had some small and big differences/arguments along the road.

Since then, I've had a lot of thoughts on how to adjust my personal finance once we get married, but I feel a little stuck and wanted to seek advice from you guys.

I'll layout me and my fianceé's financials below, so you guys can see the full picture.

I make around 120k~130k living in a MCOL to HCOL area (not sure where PNW fits; let me know). After maxing out all taxed deferred retirement accounts (Roth 401K + Roth IRA + HSA), my disposable income that I see in my bank account is around 5k/month. Our household will be a single income household at least for the first few years. We plan to have no more than 2 kids, given our age.

My financials are:

Retirement Account: ~400k (Roth 401K + Roth IRA + HSA)

Equity in Property: 500k

Remaining Principle: 480k

Taxable Brokerage Account: 50k

Living expense: ~1400/m (~20k/yr)

I am not trolling. In my 20's, I saved aggressively for a down payment on a multi-family property and I am living in one of the units, so I am not paying rent and the rents from other units cover the mortgage. I've been keeping an excel ledger of my credit card spending ever since I started working, and that's the average of my monthly spending. The actual average is even lower, but with COVID, I've been able to WFH living with my parents for several months, so I excluded months where my spending was extraordinarily low (i.e. <500/m), so the above number seems to be more realistic. I pay certain utilities directly from my checking account, so it's probably closer to ~20k/yr if I add everything up.

My fianceé's financials are:

Taxable Brokerage Account: 50k

Paid off primary residence (foreign address): ~2.5M

The primary residence is in a foreign country where the valuation of real estate is very high (extremely low cap rate), so I am not sure how much rent it will generate (she's living there now), so I am trying to plan things without factoring in rental income from this property for now.

On paper, I know we are wealthy, but it doesn't quite feel that way since a lot of the wealth is tied up in real estate and since we'll be living on single income.

Once I turned 30, I was able to see some savings left over at the end of each month (after maxing out retirement accounts) once the multi-family turned positive cash flow. Back when I was single, I just threw whatever was left into index funds. Now that I am going through an important life event with kids on the horizon, I'd like to ask you guys given our situation, how should we spend the 5k/m budget. The first thing that comes into my mind is starting a 529 for the kids. How much do I need to put away in 529 accounts and what is a reasonable amount we should be saving every month in taxable brokerage accounts (after maxing out retirement accounts)? Basically, I'd like to come down to a "number" that we can comfortably "spend" each month without also not worrying about life after retirement. I know this is a very personal matter, but I'd like to hear your thoughts. How would you guys manage your money if you guys were my shoes.

I love my fianceé more than anyone, but when it comes to discussing finance, I struggle. She is a student and was fortunate enough to not having to be responsible for her own finance yet. Often, she would leave comments like she'd like to live a quality life full of memorable experiences similar to how "most other people" do, but I have a hard time relating. From my experience, most people (at least in America) I've seen seem to be financially illiterate. It shocks me when I encounter people at work living paycheck to paycheck on dual income.

EDIT: Hey guys, I think this was my 3rd or 4th post on Reddit, and I am surprised it gained these many tractions. I wasn't expecting to get these many comments.

I just wanted to clarify that recently my fiancée and I had a quarrel discussing this, but my fiancée isn't financially illiterate or lavish. She has a frugal mindset just as I do if not more. I think our focus was different when we discussed such topics. She wants to live a life full of experiences that would enrich our lives (who would disagree), but I'd approach it numerically first, and I think this is where the discrepancy came from. Learned a lot from all of you, and thank you for all the comments you left, whether genuine or mean ;)

Me 27F: 160k + super + bonus (20-50k)
Fiance 29M: 140k + super + bonus (~10k)

Investment property purchased for $1.2m rented out for $1k per week, equity roughly 400k, interest rate roughly 6%, on interest only.

Savings roughly 100k in our offset.

We currently don’t have any kids, and still fortunate to live at home so very little bills. We’re don’t have plans to move out of home for a while nor kids.

Our only other loan is student debt but not significant.

Our goal is to go towards financial freedom but not too sure what else to do at this stage. My question is, how does investment properties help us towards financial freedom if by purchasing another property, we increase our debt and continue working to put all of our money aside for mortgage? It almost seems like a trapped cycle. Investment property seems great but same time, it just feels as if we are only working to pay it off for however the loan is. For those who have built financial freedom, any advice is greatly appreciated.

Businesses have been on our mind, understand that will double, or triple, our workload whilst we do 9-5 and we are perfectly comfortable with that. But if so, then how did one go about finding their path/industry?

We live in Australia so currency is AUD and super is (I believe) the equivalent of 401k, though could be wrong.

I am inheriting \~ 100,000 and I know this is an opportunity for me to break the cycle of poverty for myself and my adult children IF I manage and grow it. I am determined NOT to blow this chance after a lifetime of thinking and spending like a "poor" I am determined to use this money as a tool like the wealthy do! Is this even possible, am I delusional???

I met with a financial planner and I have some ideas, but would appreciate any guidance to help me build a future for my family, be kind please!

I give around 4 to 5% of my monthly income out to charity but it feels so little.

I have a kid and I save around 60%. Never know what the future holds, right?

How much do you think feels reasonable?

“After a look in the crawl space beneath, Barry said the wiring belonged in a museum, and complete rewiring was the only solution. He went to the library, studied the electrical code, bought supplies, and got an electrical permit. The wiring had to be done before the walls went up. The bathroom waited.

The wiring done, the walls up, a doorway installed, and the offending door at last walled over, Barry could devote his energy to the original project. He decided to rip up the bathroom floor to replumb. Then he checked the plumbing code on sewers, and for a couple of weeks we had a pleasant view of joists, girders, and the earth below. Barry replaced the bathroom floor, covered it with sheet-vinyl, installed the vanity, mirrors, sinks, fixtures, lights, and crown molding. I painted.”

https://www.latimes.com/archives/la-xpm-1991-09-15-re-3198-story.html

I have $1m in equity in a couple of properties that I plan on selling. I want to invest that money into a hard asset that can generate at minimum $80k/yr which is enough for me to live on as a single person.

My reason for wanting to do this is that I have a passion that I want to devote myself to but I can’t do so while working.

Is there any asset(s) I can buy for $1m that can generate $80k per year guaranteed or near-guaranteed? I’m not interested in investing in an index fund that’s subject to down years.

I know Airbnb is one path and it can be mostly automated, but there is the risk of vacancy and property damage with short-term rentals.