"Carefree Highway"Truly glad it’s working out for you.The beauty with these ETFs is you can dial down the income easily if you find it too much. Or you can dump into something like VTI, SCHD or even MMF. I have not even considered yieldmax yet. Check out ULTY, LOL.
So what I am doing is targeting a specific lifestyle based on the monthly cash flow, it may be excess with the current setup given my day job also pays well. For example, I would like to buy a $100k plus car and perhaps take a 10 day family vacay to some exotic place flying business class.
I do not want to grow old but have a fatter portfolio I want to smell some roses along the way. Who knows what can happen and I am unsure of how good my longterm genetics are....
I will caution one aspect of your mindset, which, is indeed all yours.
Don’t assume your parents are bumping around the house with rivers of regret for not doing this or that, or experiencing what you deem important using money.
Maybe the biggest goal for your parents is changing their family tree. Maybe, they already are filled with complete contentment and not a single dollar more, spent, will change that.
Where I live, we can afford the house on the hill, actually, pay cash for it. But ya know what, I could live in shed. I’m perfectly content. I’m just finishing up a simple, two story 1600’, square house. My neighbors have much larger homes, and, they’ve, under their breath, mentioned the giant mortgages that go with it.
Since I’ve become a little older and wiser, I’m not so quick to negativity regard the richest person in the graveyard. And why, because maybe that person left everything to a great cause, cancer research, a children’s hospital, St Jude’s, the person down the road who had zero chance at life but worked hard anyway and ya leave him 100k.
Anyway, worth the paper this is written on. But, in my opinion, don’t assume your parents are making some sort of mistake with the money they earned. Gordon Lightfoot has a song with these words…”the thing that I call living, is just being satisfied.”
If I was your parents, I simply ask if you’ve done the ‘wing suit’ thing yet. Ya get my point.
by Gordan Lightfoot
https://www.youtube.com/watch?v=F9dSv_NIfdc
to op:
Financial quesion for perspective and context to your question regarding a "fun income account",
relevant to 18 million in your portfolio,
was this all from your income earniongs and investing?
or from a windfall?
j
Statistics: Posted by Sandtrap — Wed Jul 31, 2024 10:13 am — Replies 33 — Views 2226