Financial advice for 35yo normie

Equifax
TestDBUser

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TestDBUser
Apr 18, 2021 8 Comments

Average TC, average net worth. Breakdown:

TC 200k
YoE 10ish (non SWE)
Unmarried, 0 kids, 0 debt
275k retail (50/50 split between cash/equity)
225k retirement
500k Net Worth, rent primary residence

Looking to start increasing NW more rapidly. What would you do in this situation?

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TOP 8 Comments
  • When you say 50/50 split between cash/equity, is the cash just sitting in a checking/savings account? If so, why do you need 130k+ in cash? I would just keep the 3-6 months of expenses in cash and invest the rest in an index fund.

    This is probably obvious but the most guaranteed ways to increase net worth:
    1) cut spending and invest the diff
    2) increase income and invest the diff

    #1 is probably the best avenue given no dependents/responsibilities

    Also don’t sell yourself short, 200k income and 500k net worth are well above average especially for your age. Don’t let blind jade you.
    Apr 18, 2021 4
  • I'm in similar situation. I think we need to start looking for asymmetric bets. That is if you lose, you only lose x amount.. but if you win you win 10x or 100x.

    DOGE would have been a recent asymmetric bet. The problem with such bets is that it's hard to spot them. But that's how we're going to rapidly increase our NW.
    Apr 18, 2021 0
  • $275k retail is insane. Buy index funds.
    Apr 18, 2021 1