Quote:
Originally Posted by Manny735
Hello forum members,
I am 30 years old,own my own home which is paid off.
I am married and have no children yet.
My income is 3000.00 a month take home
I have about 300K in investments
And have 130K-150K cash to buy a car of my choice...
The 300K that i have in investments i do not plan to touch.
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I know it was a long time ago that I studied compound interest rates,but there appears to be something odd with your numbers.
If you earned the money yourself, (no inheritance) a person who nets 3K per month ($36,000.00 per year before living expenses), who has probably worked full time for 10 or less years, who has a house( lets assume $250K) fully paid for and approximately $450,000.00 cash at their disposal has achieved a financial miracle.
At best, $36K net before living expenses would leave you with $20-25K per year to invest. Based on ten years of savings and an INCREDIBLE compounded rate of return on your investments (averaging 10% AFTER taxes) it is not mathematically possible to have both the physical and financial assets you described.
Perhaps you incorrectly listed your income level or asset base.
Sorry.