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1
Posted on 1/7/26 at 11:23 pm to BigD43
My primary business is a law practice. I started with $0 saved and just worked my arse off.
Posted on 1/8/26 at 9:18 am to TheOcean
Got a few goals in mind.
Early 30s, married, 2 kids under 4.
1. Find a way to get both kids through the next 10 years of catholic school in New Orleans area. Only 1 kid in school right now, and budget is tight. Second one will start in August, trying to plan ahead for that. (Just opened up a LA start plan early this week for the girls college savings). Will try to put 2400 or so in upfront, and then put $100 a month in there from now until they are 18 and ready for college.
2. Do my best to keep retirement contributions going (401k and Roth IRA). With all the expenses associated with two young kids, I’ve had to slow down contributions last few years, but luckily I contributed heavily in my 20s before having kids, so I’ve got a good head start.
3. Try to get better at not buying shite we don’t need. Seems like every day I get home to a few of the wife’s Amazon packages on the porch. Really need to try to get her onboard with reducing expenses, investing, etc. that’s gonna be a tough one…
4. Got about 10k left on student loans, that I’ve been paying the minimum on for years. Currently have less than 24 payments left before they will be forgiven with pslf. That’ll be nice when those drop off for good.
5. Pay off wife’s car in next 2 years, and keep up with maintenance on my truck (paid off already) to keep it running for years to come.
6. Aside from that, keep grinding, continue to find enjoyment in my work. Very thankful for contributing to 401k and Roth IRA early on In my career. I have had to scale back contributions recently due to tuition costs. But compounding interest should help out a ton from here on out.
Any and all help/critique is appreciated.
Early 30s, married, 2 kids under 4.
1. Find a way to get both kids through the next 10 years of catholic school in New Orleans area. Only 1 kid in school right now, and budget is tight. Second one will start in August, trying to plan ahead for that. (Just opened up a LA start plan early this week for the girls college savings). Will try to put 2400 or so in upfront, and then put $100 a month in there from now until they are 18 and ready for college.
2. Do my best to keep retirement contributions going (401k and Roth IRA). With all the expenses associated with two young kids, I’ve had to slow down contributions last few years, but luckily I contributed heavily in my 20s before having kids, so I’ve got a good head start.
3. Try to get better at not buying shite we don’t need. Seems like every day I get home to a few of the wife’s Amazon packages on the porch. Really need to try to get her onboard with reducing expenses, investing, etc. that’s gonna be a tough one…
4. Got about 10k left on student loans, that I’ve been paying the minimum on for years. Currently have less than 24 payments left before they will be forgiven with pslf. That’ll be nice when those drop off for good.
5. Pay off wife’s car in next 2 years, and keep up with maintenance on my truck (paid off already) to keep it running for years to come.
6. Aside from that, keep grinding, continue to find enjoyment in my work. Very thankful for contributing to 401k and Roth IRA early on In my career. I have had to scale back contributions recently due to tuition costs. But compounding interest should help out a ton from here on out.
Any and all help/critique is appreciated.
Posted on 1/13/26 at 10:51 am to reds on reds on reds
what's her specialty?
Posted on 1/13/26 at 10:56 am to donRANDOMnumbers
ENT
Posted on 1/13/26 at 11:10 am to TheOcean
Mentally willing one of my stocks to go from $26 to $60 
Posted on 1/13/26 at 5:09 pm to zachp12
quote:
Any and all help/critique is appreciated.
1. Have you considered using START for private school expenses?
2. Until you know you're on path for retirement needs, college savings can wait. You cant go back and super fund Roth IRA and 401k but you can do so later w a 529. Besides, there are no retirement scholarships or loans. An underfunded retirement can become a bigger burden on your children.
3. This is key. A spouse with shared commitment to financial goals makes all the difference. Take the time to build a shared vision of your future and that of your kids. Good luck w changing spending habits.
Posted on 1/15/26 at 11:38 am to KWL85
quote:
Have you considered new construction? We buy lots, hire builders to build them, then hire realtors to sell them. Each project is short-term. And you get paid a lump sum in a year or so vs smaller amounts monthly. Fewer headaches than rentals. The profit margins vary, so it is not as lucrative is some areas as others. But it works well in growth areas.
This is something I might like to take a shot at. In the next 6 Months.
Any idea on how to get started other than picking just a random area/property?
When someone is starting out like I would be, where there is a price point involved and self funding through loans. The location is the biggest part im confliced on.
Posted on 1/16/26 at 10:29 am to TheOcean
I’m a millenial so my outlook is to continue descending into poverty while my standard of living is eaten up by inflation and taxes.
Posted on 1/16/26 at 10:40 am to TheOcean
Sell most of my rentals. Reducing life stress and improving my health. I'm on a health mission this year.
Posted on 1/18/26 at 8:31 am to SobchakSecurity
quote:
This is something I might like to take a shot at. In the next 6 Months.
Any idea on how to get started other than picking just a random area/property?
When someone is starting out like I would be, where there is a price point involved and self funding through loans. The location is the biggest part im confliced on.
Talk to realtors and your banker. Both provided good info to help me get started. They may also suggest a good builder. Good builder is very important. You want one that is organized and can provide a decent estimate on profit before you ever start. The builder should be able to easily show you reports on cost/profit on recent builds. An unorganized builder is a recipe for surprises that affect profit.
To prevent stress, I would recommend having a minimum of $20k cash and $40k in liquid assets. Most every house turns a decent profit, but sometimes requires more of your money than anticipated. Under normal conditions, the only out of pocket is the total interest from the loan. Even when using more of your money, you get it back when the house sells
Always have a written contract in place with the builder. Most of the wording favors the builder. The key protection you want is wording that states builder will build the house according to building codes and in a professional manner. We live in lawsuit America. If a problem occurs after house is sold ( ie HVAC equipment starts a fire), the contract will show you are not liable for any of the equipment or work. Fyi, it is common that if a buyer brings a lawsuit, they will sue both builder and investor.
Loan process is:
No down payment, but bank may require a minimum level of deposits from you and put a hold on that amount
the loan usually covers cost to build, although there are exceptions in time of rapidly increasing costs
You pay the interest by month, you pay on amount used so 1rst payment is $100 or something very small and increases each month. Final interest payments might be $2k on a 3 bedroom house.
I would plan on $15k in total interest for 3 bedroom, 2 bath, 1800 sqft
You should attain builder's risk in your name with bank and builder as secondary insured. I never leave this up to the builder because my name is on the loan
Houses in nice neighborhoods tend to be safer to sell, but this is very general
The time to build increased with Covid and hasn't returned to what it was prior. Builds vary depending on the lot and size, but I would expect 8-12 months from permit to Certificate of Occupancy. A subdivision builder that is doing a row of houses on same,street can build them faster than a small builder. These go up in 5-6 months.
Hope this helps. Good luck.
Posted on 1/19/26 at 3:37 pm to KWL85
Yeah, Hiring a builder might be the way I go. That was great info. Do you have any more tips? Like which banks are friendlier?
Posted on 1/19/26 at 10:22 pm to TheOcean
Do as well as 2025...
Posted on 1/20/26 at 10:57 am to TheOcean
to get some of this $60K of credit card debt paid down.
Posted on 1/20/26 at 10:58 am to I Love Bama
bit coin 
:rotflmao: :rotflmao: :rotflmao:
:rotflmao: :rotflmao: :rotflmao:
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