GTKY: Financial Security

Wulfgar · February 2015

The last time we looked at our assets versus liabilities (not including worth of cars) we were about 15k in the positive. It helps that between my three retirement accounts (2 401(k) and 1 roll-over IRA) I have a little over $40,900 which pushes us into the positive.

brij2006 · February 2015

alyssa32713 said:

brij2006 said:

Have zero debt, and a net worth of $1million.

A million! I think my eyes just fell out.
I was all giddy gumdrops when our retirement totaled over $1000 last month. Haha.

Well this is obviously going to be a little while for us, but once our net worth is at $1mil then I will feel comfortable loosening the strings on our budget and focusing more on play rather than saving. Having zero debt and a large nest egg and assets will make me feel financially secure, because then I know that we have set ourselves up for success and our future. My sense of financial security is definitely a lot different than others, but I feel like even when we're debt free then it will be focusing our extra money toward investing to give ourselves and our children a legacy. That's what gives me security.

short+sassy · February 2015

For me, financial security is not having to work for another company to pay my bills. Both my DH and I have been laid off too many times to every consider a "job" as secure.

Minimum financial security for me will be generating at least $6,000/month (net) relatively passive income. Even tacking on future inflation, that should be enough for us to pay our bills and have a healthy positive cash flow each month. We don't have kids or student loans and we keep our bills pretty minimal.

GTKY: Financial Security

Re: GTKY: Financial Security

Choose Another Board

Search Boards