My financial goals are to acquire: - a luxury electric car ($60-100k) that I’ll drive for 10+ years - one condo in Seattle or SF that I will rent out eventually (could be 500k to 1M) - to buy a high rise apartment in home country ($350k) for my mom to live in - to rent with my SO in California or NYC (outside my rental property), spending 4-5k a month - in 10-15 years to be able to afford an SFH to raise a family in - to have 12+ months emergency fund + be on the path to FIRE TC: 350k (down from 400k) NW: 500k (down from 750k) YOE: 4
The last two goals lack critical specifics.
Easily achievable. My GF and I have a household TC of ~640k and we are going to buy a $2 mil SFH in the Seattle Eastside area in the next quarter or two. After the house payments we'll still save a bit more than $300k a year after taxes. The closing costs including down payment should be about half our current NW (~3 years of emergency funds left). I'll be buying a second car after the house, then probably a vacation property somewhere in a year or two because Seattle winters suck, etc. This should be similar to the trajectory you have in mind.
Wow, what's your TC breakdown? And that of your girlfriend's?
Household TC breakdown is ~$415k in base + bonus, rest in RSU. Both my GF and I have a similar % breakdown, i.e. we are relatively cash heavy. My GF also just started working so I'm expecting household TC to double in the next 4-ish years with me getting to staff level and my GF getting to senior level. But even assuming TC stays flat, we should be able to afford all the things I listed.
Those are exactly the easy goals SWEs achieve in VHCOL areas and still cry about not getting paid enough and then move to Nebraska
Another day, another shitpost from our in-house shitposter. He will keep this post up for a while, get some oohs and aahs about his TC and NW, and then delete it.
If your goals had been numbered 1 to 6, then: 6 - 2 - 3 - 1 - 4 - 5
You already achieved most of them with you TC and NW. congrats
I can’t drop 100k on a car and 350k on an apartment in home country right now. What’s the right sequence of these purchases/investments? If I had 2M right now, I could basically do everything.
Well you only have 4 yoe. I have about 25% of that and can’t really help with advice. I root for you!