Business & Investing
Sponsored by

millionaires

484,537 Views | 2083 Replies | Last: 1 mo ago by jamey
proudaggie02
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:36p, 6/3/20
AG
^
I appreciate the feedback.

Any suggestions on other oil stocks? I've invested in some of the safer, better companies (EOG, XOM) that might have 50-100% upside over the next year or two. Based on my CDEV position, I'm willing to take some risk in hopes of higher returns.
Reply Quote
RightWingConspirator
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
1:21p, 6/3/20
AG
I purchased XLE, EOG, PXD, COP, CVX, FANG and TRP. Maybe there is some upside left, but I'm up on some of those equities ~70 percent in 2.5 mos. Not sure how many "hidden gems" exist at these price levels. I won't add to my position at these prices. I'd wait for a pull back if I were you.
Reply Quote
Cyp0111
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to RightWingConspirator • 2:12p, 6/3/20
I think the value bump with good names has overshot reality that we are still in a $1.80/35 market.
Reply Quote
Boat Shoes
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:05p, 8/17/20
AG
With the stock market near all time highs I expected a flurry of activity on this thread!
Reply Quote
Esteban du Plantier
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:44p, 8/17/20
WoMD
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Boat Shoes • 11:14p, 8/17/20
Boat Shoes said:
With the stock market near all time highs I expected a flurry of activity on this thread!

Pushed me over the mark between cash and brokerage accounts. Counting investment real estate pushed well past 2.
Reply Quote
SMM48
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Boat Shoes • 1:44a, 8/18/20
AG
Maybe start a "Multi Millionaire Thread".
Reply Quote
1
AgOutsideAustin
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Boat Shoes • 8:58a, 8/18/20
AG
Boat Shoes said:
With the stock market near all time highs I expected a flurry of activity on this thread!


Nah just sitting back watching others drive our balances to all time highs, while enjoying a beverage or two. Ok three this afternoon if the numbers hold......
Reply Quote
SW AG80
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
5:43p, 8/31/20
AG
We have hit that mark. Real estate has been a great investment for us. An acre on the Guadalupe River, a house in College Station and then the house we live in .Make good investments, don't spend as much as you make. Limit your expensive spending habits. Aggie FB has been our biggest luxury for some time. Travel the other. It is great having children out of college.
Reply Quote
1
A New Hope
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
8:03p, 8/31/20
I got there by working my ass off 80-90 hrs a week and living within my means,
Reply Quote
2
12thmanfootball
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
12:41a, 9/1/20
AG
For me, putting 95% of my money in Tesla in late Nov/early Dec of last year has been "a knock it out of the ballpark" financial move. I can't believe that I lucked out (a little bit of research, too).......the stock has been on absolute insane hyperbolic trajectory since then. I am not selling for at least 10 years. I fully expect this company to grow at a 50% clip for years to come. Musk is changing the world for the better. Helluva smart guy.

I feel so blessed to own this stock, somebody must like me upstairs!
Reply Quote
1
ktownag08
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to 12thmanfootball • 6:55a, 9/1/20
AG
Congrats on the success!

Curious what made you go "all in" on TSLA? Huge risk that worked out, but I've been burned on too many trades to do that again.
Reply Quote
1
Cyp0111
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to 12thmanfootball • 8:15a, 9/1/20
I would cash out
Reply Quote
22
Hendrix
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to 12thmanfootball • 8:25a, 9/1/20
AG
I'd advise to slowly take a few chips off the table and diversify. Maybe hold 50% of what you have by this time next year. That's a lot of eggs in a basket.
Reply Quote
4
MAS444
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to SW AG80 • 9:58a, 9/1/20
AG
I'm assuming the acre on the Guadalupe is a rental home? Just curious as I would love to be able to justify that kind of investment...
Reply Quote
bmks270
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Cyp0111 • 10:39a, 9/1/20
AG
Cyp0111 said:
I would cash out


At least cash out half so you don't have all your eggs in one basket. Once you've made it on offense you need to play some defense.
Reply Quote
5
1 edit
Cyp0111
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to bmks270 • 10:42a, 9/1/20
Tsla is still one wild valuation that has significant downside. De-risk.
Reply Quote
3
ToddyHill
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to 12thmanfootball • 11:01a, 9/1/20
AG
I was in a similar situation back in 2007. I wasn't at all pleased with my mutual fund and the low returns and the high expenses. My middle daughter, who was a senior in high school at the time said, "Hey Dad, I think this iPhone is going to be a big deal." I thought, what the hell...and put all of it in AAPL. It was the right move.

Reply Quote
12
Ed Carter
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
3:41p, 10/12/20
AG
New net worth data is out...fascinating to see how much it takes to be in the top 1% these days

https://personalfinancedata.com/networth-percentile-calculator/
Reply Quote
3
JLN90
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Ag92NGranbury • 5:33a, 10/16/20
AG
This, and the closer you get to retirement $1M is not what it was at 40.
Reply Quote
cgh1999
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to JLN90 • 6:35a, 10/16/20
AG
JLN90 said:
This, and the closer you get to retirement $1M is not what it was at 40.

$2 million is the new $1 million
Reply Quote
YouBet
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Ed Carter • 3:24p, 10/16/20
AG
Ed Carter said:
New net worth data is out...fascinating to see how much it takes to be in the top 1% these days

https://personalfinancedata.com/networth-percentile-calculator/
No kidding. I'm 46 and you have to have $10-11M net worth to be top 1%.
Reply Quote
A New Hope
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
5:54p, 10/16/20
Never saw that calculator before. Interesting. I'm 95%. Late 50s. Markets, solid savings approach and a lot of hard work got me there. My 'number' was lower but markets propelled me upward. Now I'm trying to figure out when to pull everything out and go more conservative.
Reply Quote
94chem
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to YouBet • 11:22p, 10/16/20
YouBet said:
Ed Carter said:
New net worth data is out...fascinating to see how much it takes to be in the top 1% these days

https://personalfinancedata.com/networth-percentile-calculator/
No kidding. I'm 46 and you have to have $10-11M net worth to be top 1%.


Two bachelor's degrees in engineering in the mid-90's, 1-2 children, maxing out 401(k) with corporate match, minimal giving, etc. $10 million would be a pretty easy number to reach.
Reply Quote
Sandman98
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to 94chem • 1:51a, 10/17/20
AG
94chem said:
YouBet said:
Ed Carter said:
New net worth data is out...fascinating to see how much it takes to be in the top 1% these days

https://personalfinancedata.com/networth-percentile-calculator/
No kidding. I'm 46 and you have to have $10-11M net worth to be top 1%.


Two bachelor's degrees in engineering in the mid-90's, 1-2 children, maxing out 401(k) with corporate match, minimal giving, etc. $10 million would be a pretty easy number to reach.


Easy probably isn't the word even with those parameters. Inheritance is how most people make the cut.
Reply Quote
9
Square Pair
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
4:42a, 10/17/20
AG
1%'er. 50 yrs old. Hit first $1MM at 40. Didn't start investing into the company 401K until I was 27 (8 yrs military - enlisted at 18). Minimum investment to get the company match.

In 2008 at the height of the dot com bust started my own company. I think at that time my 401K might have been around $360K. Fast forward 12 yrs and I'm currently going through the @$$ pain of an m&a due diligence process.

The timeline simply to point out that my "financial gain" began when I started the company and began working for myself. My investments from equity distributions out of the company has far surpassed my 401K which is currently at $1.3MM (no I didn't drain the company to get there). Looking back I still can't believe I took the risk.
Reply Quote
5
1 edit
YouBet
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to 94chem • 8:57a, 10/17/20
AG
94chem said:
YouBet said:
Ed Carter said:
New net worth data is out...fascinating to see how much it takes to be in the top 1% these days

https://personalfinancedata.com/networth-percentile-calculator/
No kidding. I'm 46 and you have to have $10-11M net worth to be top 1%.


Two bachelor's degrees in engineering in the mid-90's, 1-2 children, maxing out 401(k) with corporate match, minimal giving, etc. $10 million would be a pretty easy number to reach.


Easy?! What is total annual comp of these two people? It would only be easy with really, really high compensation.

Possible? Sure. Not easy though.
Reply Quote
6
Spaceship
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
9:56a, 10/17/20
AG
What all is included/excluded in terms of cash, assets and debt for calculating net worth in this context?
Reply Quote
1
Tormentos
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:33a, 10/17/20
AG
All assets minus liabilities.
Reply Quote
mavsfan4ever
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to 94chem • 10:49a, 10/17/20
AG
94chem said:
YouBet said:
Ed Carter said:
New net worth data is out...fascinating to see how much it takes to be in the top 1% these days

https://personalfinancedata.com/networth-percentile-calculator/
No kidding. I'm 46 and you have to have $10-11M net worth to be top 1%.


Two bachelor's degrees in engineering in the mid-90's, 1-2 children, maxing out 401(k) with corporate match, minimal giving, etc. $10 million would be a pretty easy number to reach.


You better be doing a lot more than maxing out retirement accounts to get to $10 million.

Let's say both spouses max out 401k (without company match), both max out IRA or backdoor Roth IRA, and then invest an additional $50k per year. That's about $100k per year for investments. Doing that for 30 years won't even get you to $10 million assuming a 6% rate of return.

I know you can mess with the numbers or the rate of return a little to get to the $10 million figure. But easy isn't how I would describe it.
Reply Quote
7
CaptnCarl
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
10:57a, 10/17/20
AG
Throw in a common item like child with special needs, private school, IVF, parents with medical bills, etc.

Life can be very difficult, and describing hitting $10MM as easy is almost insulting to people that hit many of life's realities and insincere to those prospective couples in their early 20's.
Reply Quote
9
Spaceship
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to Tormentos • 11:01a, 10/17/20
AG
Tormentos said:
All assets minus liabilities.

In other words, does this mean all cash, all 401(k), all alternative liquid assets, home equity, less all debt? Thanks.
Reply Quote
Boat Shoes
User Profile
Private Message
Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
In reply to cgh1999 • 1:05p, 10/17/20
AG
cgh1999 said:
JLN90 said:
This, and the closer you get to retirement $1M is not what it was at 40.

$2 million is the new $1 million
Guess we need to change the thread title to "2 millionaires!"
Reply Quote
CharlieBrown17
User Profile Ignore User Stop Ignoring
How long do you want to ignore this user?
24 hours One week Permanently Cancel
1:22p, 10/17/20
AG
Hoping to hit this net worth wise by 30-32. 25 right now and around 70k net worth.

Debt right now is a mortgage and car note. Inherited a rental property with the wife. Both of us contribute enough to 401ks to take advantage of full matching but most of our savings goes towards a down payment for a second rental property and building a maintenance fund for both plus a more aggressive stock market account than our 401ks.

Definitely agree with a lot of the thoughts on here about really needing to balance enjoyment now and savings for later. We could be more frugal but dinner out on fridays or the bar on Saturday is worth it for now over saving every possible cent. On the flip side, we have several friends with similar income to us that spend every cent of it damn near and I can't even imagine spending that much money a month.
Reply Quote
1 edit
Post removed:
by user
In reply to CaptnCarl • 1:45p, 10/17/20
 
×
subscribe Verify your student status
See Subscription Benefits
Trial only available to users who have never subscribed or participated in a previous trial.