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Forum
-> Household Management
-> Finances
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amother
Teal
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 Sun, May 09 2021, 11:05 am
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Do people really earn a few hundred thousand a year? How?
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allthingsblue
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Sun, May 09 2021, 11:07 am
| amother [ Teal ] wrote: | | Do people really earn a few hundred thousand a year? How? |
Doctor
Lawyer
Business owner
Sales
To name a few
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amother
Teal
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Sun, May 09 2021, 11:19 am
| allthingsblue wrote: | Doctor
Lawyer
Business owner
Sales
To name a few |
thanks for explaining!
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amother
Chartreuse
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Sun, May 09 2021, 12:00 pm
Investments
We aren’t wealthy by a long shot.
But when we were newlyweds 15 yrs ago my dh bought a house for 30k. Fixed it up. Refinanced. Took the money did it again 6 times. A few years later refinanced all of them. Got a huge chunk. Invested it in a large project of others. Get dividends. Get original investment back. Reinvested money back multiple times.
So 15 yrs ago 10k got us 800k of investments now (many mortgages so the number isn’t accurate really) and 50k profits yearly. BH. This is dh’s side hustle. Someone who has a lot of money to start or can do this full time or has the risk taking personality can do very well after a few short years.
Some of his friends that started the same time as him own multiple 20 million buildings. And are extremely wealthy. Most don’t come from money and are young 40s.
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amother
Teal
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Sun, May 09 2021, 12:05 pm
| amother [ Chartreuse ] wrote: | | Investments |
Thanks again!
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amother
Chartreuse
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Sun, May 09 2021, 12:08 pm
| amother [ Teal ] wrote: | | Thanks again! |
I updated with a whole megilla of how it can work.
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amother
Amethyst
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Sun, May 09 2021, 12:20 pm
We make less then $100000 a year combined. (not in the usa though so it goes further)
We saved some money (about $50000) when our kdis were small and we had no tuitions. Invested the money in a house in a non expensive area, rented it out. Sold the house a couple of years ago and invested it all in the stock market. DH did tons and tons of research and I agreed in him doing this. Now that $200000 is worth a million or two. But if we cash in we lose tons in taxes so we are leaving most of it for a bit longer because we think it can still go up.
Still dont consider ourselves rich with that, but we can breathe a bit more. If we are lucky we will be really comfortable to the extent of being able to help others. I guess we could lose most of it, or all too but we started of with so little so I guess we will take that risk.
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