Are you living Paycheck to Paycheck or On the Way to Early Retirement? - Tilted Forum Project Discussion Community

Randerolf · 03-21-2007, 10:33 PM

This thread is about your current financial situation. Where are you at? What are your goals? Where do you want to be? How has keeping up with your money kept you out of trouble (a jobloss perhaps)? Or how has debt and affected your life?

There are many levels of financial stability and many measures that mark that stability.(See Poll) Where do you fall with other TFP'ers?

Besides the generic above items, what goals do you have for your money? Did I miss an important benchmark for solid finances?

As for me, I'm almost finished paying for school out of my own pocket. Meanwhile, I have an emergency fund for a conservative estimate of expensive for a few months. I have a small 401k through my work and am looking to start a Roth IRA soon all for retirement. I'm looking for a good, cheap index fund actually. (If you wonder what these are, just ask. It all sounds like moonspeak.) I have a slush fund/ savings account with ING (4.5%APY) that I throw a hefty percentage of my tips into. I will use those funds to replace my car and start a Roth IRA. I also invested in Janus Biotechnology fund during my first job. It's still laying around.

What do I want to do with my money? I want to travel. I'd love to travel while I'm young and learn more about the world. Nicolas Sarkozy said in an interview with Charlie Rose something like, Americas- Learn about the world and the world will love you for it. Also, when I was a kid, my family was somewhat poor, so finances are important to me.

Katatonic · 03-22-2007, 07:29 AM

I'm studying to be a Computer Systems Engineer / Chef.

I also started up my own technology business incorporating technology and consulting as well.

I'm going to save up to buy a house, then do some travelling if my income permits.

I hope to land a new job earning at least enough to travel in the next 3 years. I already have a house lined up from a family member, so I can put that on hold I guess. A huge part of my life that is and it's out of the way.

I also spend a lot of my time on the motorbike. Saving up for the new Ducati 1098 that I want to take to some World tracks and race

Also, the Misses takes about 110% of what's not hers, so yea :P

Average_Joe · 03-22-2007, 01:04 PM

I don't live paycheck-to-paycheck, but I doubt I'll retire too early. I'll be 59 when my daughter graduates from college.

Daoust · 03-22-2007, 02:06 PM

I'm a teacher. I am the sole bread winner in my family of four. I live in a trailer. You guess what my answer is...

MSD · 03-22-2007, 07:56 PM

I make enough to pay my credit cards, back taxes, and get gas to drive to school. My biweekly paycheck rarely lasts more than three days. My mom makes $44k a year and is paying bills on credit because living wage here is around $60k with no luxury expenses.

Bossnass · 03-22-2007, 08:00 PM

I'm still a student, but I work stupid hard for the summer months in a very healthy economy. I kinda live summer to summer, although I do supplement my income occasionally bar tending and working 15 hours a week or so in an office.

I own my apartment condo, which has appreciated at least 100% over the last 4 years. I have half ownership in a couple rental properties. My student loans are sizable, but they are in interest free status right now and we've kept my wife's loans to a minimum. No credit card debt and the line of credit is paid off. I could live off my savings for about 6 months if need be. Even though I'm an adult student, we plan to retire by 60. And I'm overly proud of my financial status.

newtx · 03-22-2007, 08:04 PM

Average Joe pretty well summed it for me. But I won't be quite as old when my daughter graduates from college. At least I don't think I will be that old. Actually there is Murphy's Law ...................

Glory's Sun · 03-23-2007, 10:14 AM

I'm doing fine. I could be doing better but I'm dumping alot of money into my business and other business ventures as well. As soon as I'm satisfied with those endeavors, I'll start dumping more into IRA accounts and other places.

Dilbert1234567 · 03-23-2007, 07:26 PM

right now, I'm 22, and going to school. however unlike most people my age, I'm a saver. i have no debt. my savings can cover my expenses for about 2 years. i try to put 10% aside every month, which floats into my checking account, into my savings account and then into my investment portfolio. i have a Roth IRA, but i focus mostly on the stock market, i have time to make mistakes. i hope to retire by the time I'm 50.

View Poll Results: Money Metrics You've Knocked Out
You have some sort of budget system	33	61.11%
You have SOME money set aside for an emergency.	32	59.26%
You have three to four months of expenses set aside for an emergency	16	29.63%
All your debts paid off except for your residence (credit cards, store credit, loans, angry bookies)	21	38.89%
You are saving for retirement	18	33.33%
You are aggressively saving for retirement	11	20.37%
You own your house/ apartment	15	27.78%
Invest your income to enhance your income (forex, CD's, bonds, cock fights, or porkbelly futures)	20	37.04%
You have your children's educational expenses funded	5	9.26%
You donate to the TFP	18	33.33%
Multiple Choice Poll. Voters: 54. You may not vote on this poll

03-21-2007, 10:33 PM	#1 (permalink)
Randerolf Fireball Location: ~	Are you living Paycheck to Paycheck or On the Way to Early Retirement? This thread is about your current financial situation. Where are you at? What are your goals? Where do you want to be? How has keeping up with your money kept you out of trouble (a jobloss perhaps)? Or how has debt and affected your life? There are many levels of financial stability and many measures that mark that stability.(See Poll) Where do you fall with other TFP'ers? Besides the generic above items, what goals do you have for your money? Did I miss an important benchmark for solid finances? As for me, I'm almost finished paying for school out of my own pocket. Meanwhile, I have an emergency fund for a conservative estimate of expensive for a few months. I have a small 401k through my work and am looking to start a Roth IRA soon all for retirement. I'm looking for a good, cheap index fund actually. (If you wonder what these are, just ask. It all sounds like moonspeak.) I have a slush fund/ savings account with ING (4.5%APY) that I throw a hefty percentage of my tips into. I will use those funds to replace my car and start a Roth IRA. I also invested in Janus Biotechnology fund during my first job. It's still laying around. What do I want to do with my money? I want to travel. I'd love to travel while I'm young and learn more about the world. Nicolas Sarkozy said in an interview with Charlie Rose something like, Americas- Learn about the world and the world will love you for it. Also, when I was a kid, my family was somewhat poor, so finances are important to me. Last edited by Randerolf; 03-21-2007 at 10:41 PM.. Reason: Chasing the Sosekis.

03-22-2007, 01:04 PM	#3 (permalink)
Average_Joe Psycho Location: Under the Radar	I don't live paycheck-to-paycheck, but I doubt I'll retire too early. I'll be 59 when my daughter graduates from college. __________________ I think I'll procrastinate......in a little while.

03-22-2007, 02:06 PM	#4 (permalink)
Daoust "I'm sorry. What was the question?" Location: Paradise Regained	I'm a teacher. I am the sole bread winner in my family of four. I live in a trailer. You guess what my answer is... __________________ I have faith in a few things - divinity and grace But even when I'm on my knees I know the devil preys

03-23-2007, 07:26 PM	#9 (permalink)
Dilbert1234567 Devils Cabana Boy Location: Central Coast CA	right now, I'm 22, and going to school. however unlike most people my age, I'm a saver. i have no debt. my savings can cover my expenses for about 2 years. i try to put 10% aside every month, which floats into my checking account, into my savings account and then into my investment portfolio. i have a Roth IRA, but i focus mostly on the stock market, i have time to make mistakes. i hope to retire by the time I'm 50. __________________ Donate Blood! "Love is not finding the perfect person, but learning to see an imperfect person perfectly." -Sam Keen

03-22-2007, 07:29 AM	#2 (permalink)
Katatonic Upright	I'm studying to be a Computer Systems Engineer / Chef. I also started up my own technology business incorporating technology and consulting as well. I'm going to save up to buy a house, then do some travelling if my income permits. I hope to land a new job earning at least enough to travel in the next 3 years. I already have a house lined up from a family member, so I can put that on hold I guess. A huge part of my life that is and it's out of the way. I also spend a lot of my time on the motorbike. Saving up for the new Ducati 1098 that I want to take to some World tracks and race Also, the Misses takes about 110% of what's not hers, so yea :P

03-22-2007, 07:56 PM	#5 (permalink)
MSD The sky calls to us ... Super Moderator Location: CT	I make enough to pay my credit cards, back taxes, and get gas to drive to school. My biweekly paycheck rarely lasts more than three days. My mom makes $44k a year and is paying bills on credit because living wage here is around $60k with no luxury expenses.

03-22-2007, 08:00 PM	#6 (permalink)
Bossnass Détente Location: AWOL in Edmonton	I'm still a student, but I work stupid hard for the summer months in a very healthy economy. I kinda live summer to summer, although I do supplement my income occasionally bar tending and working 15 hours a week or so in an office. I own my apartment condo, which has appreciated at least 100% over the last 4 years. I have half ownership in a couple rental properties. My student loans are sizable, but they are in interest free status right now and we've kept my wife's loans to a minimum. No credit card debt and the line of credit is paid off. I could live off my savings for about 6 months if need be. Even though I'm an adult student, we plan to retire by 60. And I'm overly proud of my financial status.

03-22-2007, 08:04 PM	#7 (permalink)
newtx Addict	Average Joe pretty well summed it for me. But I won't be quite as old when my daughter graduates from college. At least I don't think I will be that old. Actually there is Murphy's Law ...................

03-23-2007, 10:14 AM	#8 (permalink)
Glory's Sun Registered User	I'm doing fine. I could be doing better but I'm dumping alot of money into my business and other business ventures as well. As soon as I'm satisfied with those endeavors, I'll start dumping more into IRA accounts and other places.