All Forum Posts by: Kelly Iannone

#millennial here with both RE and Stock assets and only mortgage debt. I was fortunate to have my parents help get me through college while I also worked summer jobs to pay for housing, food, and fun money leaving undergrad debt free. My parents retired at 50/51 and I plan to be retired before they did (age wise), we’ll before they can leave me there inheritance (hopefully). I hope they continue traveling and spend whatever money they have earned to enjoy the rest of their life, they have no obligation nor do I need them to leave me any money (if they do, I’ll put it to good use investing).

While it irks me when my generation is talked about so negatively and as a whole, I understand why. Although I’ve met some really financially irresponsible elders in my years.

@Kristina Lugo I have not read all the responses so I apologize if someone has already suggested this, but rather then barrow $10k from you parents while leaving your $ in reserves, use your money with an agreement with them that “if” you need the money then they are open to it. Just a though.

@Thomas S. Current state, I wouldn’t have a problem with a alternative due date however you bring up a very fair point about the management of it with multiple doors. 

I should add, at the end of the day I don’t care what day I get paid, it just needs to be consistent every month. It’s usually the 1st but no reason it can’t be another random day...same day every month.

@Cassie Chun good for you for observing this and feeling epithetic. I wouldn’t start this conversation as it should be the the tenants responsibility to seek this change however if they did, I would accommodate and have them pay the 1 month + 5 days, the due in the 5 moving forward. Or just have a 5 day grace period, that is ours in Florida.

@Bill F. This is is the what I handle it, just add a couple hundred to principal each month. I’m fine with my budget so the big monthly auto payment is fine.

@Jay Hinrichs sorry to squash your career goals Jay, Wal-Mary is doing away with the greeter positions 😂

@Shiloh Lundahl congrats on the achievement! I’d definitely agree that $1M when we were kids is not like $1M today; thanks inflation and consumerism. I’d concur with others that $1M is middle class. If this were simply in a index fund with the 4% withdrawal rate you’d have to live on $40k a year...that’s a far cry from being rich. Perhaps it makes you rich in the sole knowing one can live on $40k a year if they had too. If my homestead would payed off, I could comfortable (I think).

However you should get discouraged. Even at $5M net worth one may need to budget to at least be aware of how they choose to spend money in order to maintain that level of net worth.

Congrats again on a big milestone!

 I could not agree with you more!

I gotta support the masses on this one, taking a $5 subway sandwich is disrespectful to the restaurant. While I enjoyed the podcast and got value from it, I would have totally been embarrassed to be seated at that same table. As in with special dietary preferences, on occasion I’ll bring condiments but never an entire meal. There is a time and place for a $80 meal while on the path to FI.

And @Jay Hinrichs I’m from the Midwest originally ;-) and I have that family member who buys expired food cheap from the Amish store then returns it to wal-mart/kroger as if she bought it there. Those darn Midwesterners, there all the same. 😂