see…this is a perfect example.
Barring a major tragedy and if you are not a hot mess…A $ 1 million NET WORTH (all combined assets) is not only achievable by age 65…it’s a low bar.
Many financial planners say that is a minimum goal BY RETIREMENT.
$ 1millio / 20 years at age 65 is only $50,000 a year in income.
Politicians and people like Moncoog love to keep people down…fill their head with excuses XYZ…tell them it is impossible.
Classic control tactic!
If you think a meager NET WORTH of ONE million dollars and owning Versailles are the same thing…you are delusional.
The AVERAGE house price in Houston, Texas is $340k.
JUST owning your house BY AGE 65 will get you a 1/3 of the way there to that $1 million Net Worth milestone…or closer if it is above average
STOP making excuses for something that is very possible and STOP comparing that goal to something ridiculous like owning Versailles.
Perhaps, you don’t understand the definition of Net Worth?
And with that one comment you’ve proven my point.
yes…you have a loser mentality.
The AVERAGE house price in Houston Texas ( a low Cost of living US city by the way) is 1/3 of a million dollars.
HOW CAN PEOPLE AFFORD A HOUSE THAT MUCH?!???
That was sarcasm, according to you!
Your ignorance in understanding the value of the dollar is showing.
…and because I’m still not convinced you truly understand the definition of Net Worth.
Net Worth = Total Assets- Total Liabilities
If you live a low or no debt lifestyle you can significantly control the Total Liabilities portion of the equation.
If you live on LESS than you make, you can start to build the Total Assets portion of the equation.
Many here, like LAW, have been trying to tell you there IS a path if you have a positive attitude and some planning.
I’ll wait for your swarmy insult “it can’t be done” response.
So, did read correctly that UH is only receiving $48 million?
In annual income from the endowment.
Or at least, that’s what it will be initially.
The amount of the endowment is $1.3 billion.
I saw that UH is getting 48 while Tech 44. What exactly determines that?
The fact that UH does more research and produces more research doctorates.
Over time, that may increase even more.
So f-king awesome. Appreciate you keeping it top of mind Law!
It’s the best thing to happen to UH, money-wise, in years, possibly ever.
Definitely a step towards elite status!
For sure. I don’t know if others understand the implications, but I certainly do! Amazing!
The media reports I’ve seen didn’t report total research expenditures and doctorates awarded among the 4 schools. Safe to assume we prob lead the pack in research and thus getting slightly bigger chunk than Tech.
Appreciate you.
When that of state TX check clears for UH.
An OG needs 2 change that endowment $.
When you do it = give us a screen shot.
Here you go with the insults. First you lied and now you insult. And started it all with your hubris.
You are out of touch thinking a million dollars is measley.
Your math is irrelevant because you are completely out of touch with the value of money.
Sure be a millionaire when you retire, it’ll all go to medical or elder care. Gotta live it up a little while you’re young.
Happy it passed, I was in support of it, but my comment had nothing to do with analysis paralysis. It is a matter of the poster I replied to. People can say they don’t think something is comprehensive enough, but if they do not know the alternatives are going to solve their issues, then not supporting it may backfire. Hence telling people to think of alternatives. IF there is not a good one, why turn down a good thing.
Have not read this whole thread, and I really support the idea of telling people it is doable, however, that is falling apart based upon the financial directions of jobs and pay vs cost of living. It used to be much more doable, but the direction of society is making harder.
I have read several articles on how the 20 something generation will almost be locked out of buying a house soon. Though a house is not always the best financial investment depending on needs.
How many financial planners will even sit down with the bottom 50% of the population in Houston?
Dave Ramsay’s radio show is free. Anyone can listen and implement the knowledge.
He mostly caters to those that have difficulties with planning and discipline.
I don’t agree with everything he says but he keeps it simple for those with limited financial awareness.
Limit your debt load…to nothing…work extra if you are in a hole. Live on less than you make and invest EVERY month.
That “every month” discipline and behavior, is WAY more important than the $$ in the beginning. You will always feel lost without it and the goal will appear impossible.
He helps them erase their debt loads as soon as possible
He helps create millionaires every day …but tnrough the long way built on a strong foundation…and has done so for 25+ years.
Again, im referring to having a net worth of a million dollars AT age 65.
That’s after 50 years of working if you started working at age 15 or 16, like most of us here.
You don’t need one.
Plenty of online investing and day trading websites.
Do your own research, invest your own money.
We need to do a better job of educating our children on bread and butter economics.
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