This post may contain affiliate links; please see our disclaimer for details.
First, I would like to share some interesting numbers with you.
The average monthly car payment in the U.S. is $563 for new vehicles, $397 for used vehicles, and $450 for leased vehicles.1
If you invest $563 a month in a reliable fund such as the S&P 500 with an average 12% return, you will have around $130,000 in 10 years and ONE MILLION in 25 years!
The average value of a new vehicle drops around 20% in the first year of ownership and will drop up to 60% of its value within the first five years! 2
Back in the day, I took out a car loan to buy a land rover. This vehicle later became my worst nightmare. If you want to know more about this story, you can visit the article I wrote about why financing a car can be a bad decision.
I am very grateful to have later learned about Dave Ramsey. After watching many of his videos, my wife and I insisted on buying a car with cash.
So let’s dive in and see the 6 reasons to buy a car with cash!
1. Avoid Interest
If you don’t finance a car purchase, you can save a lot of money by avoiding interest payments on the car loan.
This may seem completely obvious but is worth repeating.
“The average auto loan rate is 3.64% for new cars and 5.35% for used cars”, according to Experian.
Paying interest on a car may seem normal, but it is not beneficial and will make your lender very happy and wealthy.
2. No Monthly Car Payments
Since my wife and I own our car and purchased it with cash, we don’t have any additional car monthly payments – this has greatly reduced our monthly expenses!
That’s one reason why we can save 56% of our income and allow us to invest more in our future.
Monthly payments means living paycheck to paycheck and not experiencing true financial freedom.
It’s a big deal if someone suddenly loses their job or has other emergency expenses that need to be resolved. Keeping expenses low and savings plus investments high is important to have peace of mind.
Instead of paying a monthly payment to a car that won’t hold its value, why not spend it where it will appreciate?
For example, a great place to put the extra money saved from not paying interest payments could go towards retirement/tax-advantaged accounts such as a Roth IRA, 401(k), HSA, etc.
“The average monthly car payment in the U.S. is $563 for new vehicles, $397 for used vehicles, and $450 for leased vehicles.” 1
If you invest $563 a month in a reliable fund such as the S&P 500 with an average of 12% return, you will have around $130,000 in 10 years, and ONE MILLION in 25 years!
3. Depreciation Doesn’t Matter
“According to industry experts, the value of a new vehicle drops by about 20% in the first year of ownership. Over the next four years, you can expect your car to lose roughly 15% of its value each year – meaning the average car will be worth just 40% of its purchase price after five years:
A 5-year-old vehicle that sold for $40,000 when new will be worth $16,000.
A 5-year-old vehicle that sold for $30,000 will be worth $12,000.” 2
What does depreciation mean?
The difference between the price you pay and the price you can sell something is called depreciation.
Cars depreciate quickly, especially new cars. The moment you leave the parking lot on a brand-new car, it starts to lose its value.
If you finance the purchase, you could end up owing more than the car is worth.. especially if you have a long loan term.
How to avoid depreciation?
Easy, buy a car in cash!
How can paying cash can help with depreciation?
If you already own the car, depreciation won’t hurt so much!
By already owning your car, you don’t have to worry about not being able to keep up with the car loan payments or needing to pay more than it’s worth.
4. The Vehicle is 100% Yours
I still remember receiving the car title letter saying I am the car owner. That was exciting, especially since I saved so hard to pay for it all in cash.
It feels very different when you drive a car without a loan. There’s no worry about monthly car payments. You don’t need to worry about car depreciation.
That’s the peace of mind that comes with buying a car with cash!
5. Prevents You From Overspending
Financing the purchase of a car will encourage you to spend more than you plan to because you will focus more on monthly payments rather than the car’s total price.
“Just because you can make the payments doesn’t mean you can afford it.”
Dave Ramsey
When planning to buy a car with cash, you have to buy it with the money you have on hand, so you will have to stick to your budget, and it will be easier to talk to sales representatives!
I bought my Toyota corolla from my brother-in-law. I remember he showed me some nicer cars, but I always said, “sorry, this is not in my budget.”
Buying a car with cash really can help prevent you from overspending.
6. Won’t Effect Your Debt-To-Income Ratio
A car loan will affect your DTI (debt-to-income) ratio and eligibility for other loans, such as a house mortgage.
Lenders want to ensure you have enough money left over to cover other living expenses and extra cash flows.
Most mortgage lenders generally approve someone — including their new mortgage payments — when their debt-to-income ratio falls to 43% or less.
When you have a car debt, your buying power will be lower (higher DTI) when looking at homes.
You’ll have more room for DTI to buy your dream house when you don’t have car debt.
Quick Recap:
Avoid Interest
No Monthly Payments
Depreciation Doesn’t Matter
The Vehicle is 100% Yours
Prevents You From Overspending
Won’t Effect Your Debt-To-Income Ratio
Throughout my life, the Land Rover Defender model has always been my dream car.
My motivation is knowing that one day I will buy a brand new Land Rover with all cash.
I believe it will happen, and I will work hard to make that dream come true, including saving and investing to make it happen!
Others may think you’re crazy for not getting a car loan or driving an older vehicle, but it will be worth it in the end!
What are some of your positive experiences buying a car with cash? Please let us know in the comments section below!!
If you’re having issues with improving your credit, I highly recommend checking out The Credit Pros! They are a very reputable company that offers incredible credit repair services.
They have all of the tools needed to help rebuild your credit, and you can check your credit score for free!
We hope the information in this article provides valuable insights to every reader but we, the Biesingers, are not financial advisors. When making your personal finance decisions, research multiple sources and/or receive advice from a licensed professional. As always, we wish you the best in your pursuit of financial independence!
This post may contain affiliate links; please see our disclaimer for details.
Our 2022 Financial Goals
With 2022 underway, we’ve taken some time to set our top 5 financial goals for 2022 with our plan to achieve them. We hope our goals and plans can provide you with some inspiration as you work towards a life filled with joy and financial peace.
Our Top 5 Financial Goals For 2022:
Read 3 finance books.
Emergency fund hit $15,000.
Total investment accounts hit $93,000.
Total net worth hit $430,000.
Under contract for another house.
How We Plan to Achieve Each Goal
1. Stay focused on our WHY
Sometimes it can be hard to see other people buy a nice car or go on a trip to a fun place, buy a lot of great gifts for Christmas, etc., and you want it too!
So here’s our why that we need to remember when times get tough –
Both my wife and I’s financial goal is to hit FIRE (finance independence retire early) one day. We don’t want to be stuck with 9 to 5 jobs until we are 50, 60, or even 70. We truly hope we can retire early to be able to spend a lot of time with family and be free.
Try thinking about and writing down your financial goals for the next year, and for the next 2, 3, 5, or 10 years to come.
Writing down and remembering those goals is crucial because it gives you an empowered mindset and can help a lot when feeling overwhelmed.
When things get tough, remember the pain is not going to last forever, it is temporary.
Short-term pain brings long-term happiness, I think this type of sacrifice is very worthwhile.
For example, my wife said that when she looks back she has forgotten how painful delivering a baby was. She just remembers how cute the baby is and how grateful to have our lovely children now.
Having a baby is much harder but the point is things that are worth it in life don’t come easy.
Set meaningful goals and work hard to achieve them. This is vital to finding success and is also a driving force that will support you.
2. Save and budget
“Don’t save what is left after spending; spend what is left after saving.”
Warren Buffett
For our Emergency Fund, we have an automatic transfer every month of $400 which should help us reach the goal of $15,000 by year-end.
As for our investment accounts, we have just maxed out our Roth IRA contribution amount for 2022. For more on this see Our Top 2022 Investments.
Imagine two people, someone who makes $100,000 a year and spends all of it. Then someone who makes $50,000 a year but only spends $30,000 and invests $20,000.
Which one do you feel is on the path to financial freedom and building net worth?
High income does NOT equal wealth. Knowing how to save, budget, and invest wisely are skills of the wealthy. Learning takes time and commitment, we are still learning new things and doing our best to save and budget.
One way we like to save money is by using an affordable phone plan.
Mint Mobile has helped us save tons of money, especially during college! We all know how phone plans can get pricy with long, frustrating contracts.
Our friends told us about Mint Mobile many years ago. For many reasons, we are still using them today!
Mint Mobile offers amazing plans at incredible prices, with plans as low as only $15 a month! My wife and I pay only $15 monthly for our phone plans. Check out how you can save money with them today!
Life is a journey of learning lessons, and we have learned this first hand. We learned the importance of learning quickly from mistakes and facing life optimistically.
The mistakes we made were very tough at the time but we need to accept our failures as valuable lessons and do our best to avoid them in the future.
Although hard at that moment, when you look back a long time later you might be thankful for those failures.
Failing is not terrible, what is really terrible is that you have not learned from the experiences.
“We need to accept that we won’t always make the right decisions, that we’ll screw up royally sometimes – understanding that failure is not the opposite of success, it’s part of success.”
Arianna Huffington
4. Be patient
The road to financial freedom requires patience and persistence.
My wife and I would also be envious when we see people who get rich overnight. Especially recently with the hot topic of cryptocurrency, many people benefited from it but many did not.
But neither of us likes to gamble. Gambling can become a scary addiction.
Someone with a lot of extra money could invest in these things but must be willing to lose it all.
We need steady investments because we have kids and families need to take care of.
When it comes to funds, we love the Total Market Fund and S&P 500 fund. If you don’t know what to invest in, they both can be a good starting point!
Compound interest is the most wonderful thing in the world, but it takes time and requires patience.
The main point is to start investing early and start now, you will see how miraculous it is and how it grows like crazy over time!
90% of our stock market investments are in a regular mutual fund, index fund, or ETF. 9% of our investments are in single stocks. Less than 1% is in cryptocurrency.
My wife and I want to be financially free ASAP too, but we keep telling ourselves to be patient.
So hopefully our plan to achieve our 2022 financial goals can be of use to you –
Remember your why
Save and budget
Accept failures as lessons
Be patient
Thank you so much for reading! We would love to hear your thoughts or questions – drop a comment below!
After first getting married to my sweetheart, both I and my wife are just college students and our net worth was way in the negative. A very large chunk came from student loans.
Through patience, continual learning, and persistence, we turned our net worth from a negative to a positive of $350,000. This happened during our 4 years and a half years of marriage.
This post may contain affiliate links; please see our disclaimer for details.
Photo by Monstera on Pexels.com – increase of net worth
Right now, my wife is 25 and I am 27 years old. We are completely debt-free except for our two real estate property loans.
We are excited to share with you today how we went from being in debt to having $350,000 net worth in 4 years during college.
Increasing one’s income is very important to getting out of debt and building one’s net worth. Making an extra $5000 is easier than trying to save $5000.
There are two main ways to increase your income.
First, find side hustles. Second, find a higher-paying job.
Side hustle experience
My wife and I love pets, and helping take care of others’ pets has been an excellent side hustle.
We would help friends or family out to watch their pets. My wife is from China, so many international students don’t have family here. We would help watch their pets while they go back to China.
For us, this was not a job at all, and we both enjoyed playing with each pet (by the way, we would only watch fully trained pets, so it wouldn’t be hard to take care of them).
We also enjoyed using the pet sitting site/app Rover; if interested, click HERE for more details.
We hope you can also find something you enjoy for a side hustle!
Find a higher-paying job
Making more money means you can save and invest more money!
In addition to doing side hustles, I have constantly worked on improving my skills in the workplace to be able to find higher-paying positions.
Back when going to school I would do both full-time school and full-time work.
Having full-time school and full-time work is no easy task. As many of you already know, it takes grit and perseverance, but don’t worry there is light at the end of the tunnel!
I moved up to a supervisor position when I first got married. Next, I was able to obtain an account manager position during the last year of my bachelor’s program. I then became a product development specialist after the first semester of my MBA.
In total, my salary increased by $30,000 (all while still going to school!).
The company I work at as a product development specialist is amazing. They even offered me $3000 each year of tuition reimbursement.
For my two years of studying for my MBA, I received a total of $6000 for tuition reimbursement.
2. Save and Budget
“It’s not how much money you make, but how much money you keep…”
Robert Kiyosaki
Imagine two people, someone who makes $100,000 a year and spends all of it and someone who makes $50,000 a year, only spends $30,000 and invests $20,000.
Which one is on the path to financial freedom and building net worth?
High income does NOT equal wealth. Saving and investing wisely are skills of the truly wealthy.
One way to save money is by using an affordable phone plan.
Mint Mobile has helped us save tons of money, especially during college! We all know how phone plans can get pricy with long, frustrating contracts.
Our friends told us about Mint Mobile many years ago. For many reasons, we are still using them today!
Mint Mobile offers amazing plans at incredible prices, with plans as low as only $15 a month! My wife and I pay only $15 monthly for our phone plans. Check out how you can save money with them today!
3. Pay off all debt except the mortgage
“Debt is the slavery of the free.” – Publilius Syrus
A lot of debt is being accumulated by individuals across the world each year.
According to business insider, the average American has $52,940 worth of debt across mortgage loans, home equity lines of credit, auto loans, credit card debt, student loan debt, and other debts like personal loans.
Debt is the enemy of saving!
Debt steals from the money you could be saved and invested!… when you need to pay $500 in debt payments a month, you are actually losing $500 that could have been extra investment each month.
When it comes to how to pay off debt, we are big fans of the debt snowball method and used it to pay off our $56,000 worth of student debt and had one kid.
The journey is not easy but is worth it.
We are 100% debt-free except for the mortgage. Staying away from debt allows us to save (and INVEST) more of our income and reach financial freedom sooner.
4. Invest in tax-advantaged accounts
Whenever we hear or see the word tax-advantaged, we pay special attention to learn all we can about it.
My wife and I love tax advantage accounts because we don’t want to worry about tax at all when we retire. The thought of being a tax-free millionaire in the future is exciting.
When you invest your money wisely, you can earn interest and dividends! You will be making money even while sleeping!
Compound interest is an amazing thing that can really go to work for you.
We highly recommend investing early and starting now. The growth may seem slow at first but it grows like crazy over time!
Check out this example below –
The average monthly student debt payment in the USA is around $400 a month. If you instead invest $400 a month in a reliable fund (like the S&P 500) with average an average return of 12%, you will have around $92,000 in 10 years and ONE MILLION in 28 years!
A great way to start investing is by putting money into some tax advantage accounts like 401Ks, HSA, IRAs, etc. Tax-advantaged accounts can save you a lot of money in tax!
M1 Finance is a great investment opportunity with its robust yet simple app. There are ZERO commissions or account management fees.
Deposits $1,000 or more into your M1 Invest account within two weeks of signing up and get a cash bonus of $30-$500 to that account.
It is not just a trading stock brokerage account but also offers an IRA option that allows you to invest in your retirement.
We highly recommend using M1 Finance to open a brokerage or retirement account! M1 Finance can undoubtedly help you on your financial independence journey.
Real estate investing, even on a very small scale, remains a tried and true means of building an individual’s cash flow and wealth.
Robert Kiyosaki
Real estate is a very hot investment topic and an incredible tool to help achieve FIRE (Financial Independence Retire Early).
Many think a lot of money is needed to start investing in real estate, but this is not always true.
You may have heard of people who have achieved great success in real estate investing. Our success may seem small to some but we would like to share our story.
In total, we have purchased three properties. We sold our our first property to help me graduate student debt-free.
At that time we were just regular college students. We did not have a lot of money and did not have high-paying jobs!
We started our real estate investment journey with only $20,000.
Now $20,000 has become $250,000 in 4 years while going to school.
So what was our real estate investment strategy?
Buy as owner-occupied (residential property).
Do some easy remodeling while living there.
Save up a downpayment for the next property.
Buy the next house and rent out the previous one.
The past few years have been a very good time to invest in real estate in Utah. We were able to buy a house when the price was still relatively cheap, and then watch it increase in value.
The value is still increasing and having rental income as passive income is an amazing thing!
We hope the information in this article provides valuable insights to every reader but we, the Biesingers, are not financial advisors. When making your personal finance decisions, research multiple sources and/or receive advice from a licensed professional. As always, we wish you the best in your pursuit of financial independence!
Instead of focusing on how to spend money on expensive gym memberships or health programs, it may be a good idea to focus on the basics of creating a solid home workout routine. Doing so has saved us both time and money!
Establishing a home workout routine can be difficult to set up and maintain. I’ve been there, throughout the pandemic I tried many different things.
In this post, I’ll go over the benefits of exercise, common types of exercise, and 6 tips on how to create an awesome home workout routine.
Benefits of Exercise
Before creating your home workout routine, it’s important to understand and remember the many positive benefits that come from physical exercise.
Here are just a few of the amazing benefits that come from exercising.
Help control your weight and keep weight off (1, 2)
There are many more benefits. Remember that exercising will improve the overall quality of life!
Types of Exercise
Below are four of the most common types of exercise to keep in mind when creating your routine.
Aerobic (Cardio)
Workouts that fall under this category require endurance and an increased heart rate.
Examples: jogging, swimming, long walks, hiking, boxing, etc.
Strength
Also known as resistance training, these workouts will increase your muscle and bone strength.
Examples: workouts using resistance bands, weight-lifting, push-ups, sit-ups, squats, lunges, etc.
Flexibility
Staying flexible is a crucial part of overall fitness and helps reduce injuries.
Example: Stretching! Two common types of stretching are dynamic and static. Dynamic is when there is more movement involved such as swinging your leg back and forth before a run. Static requires less rapid movement and is great for after workouts. An example of a static stretch is bending over and trying to touch your toes.
Balance
Balance workouts will help reinforce key areas of the body including the back and abdomen- this will also help reduce injuries and help you have better posture.
Examples: Plank with one arm, balance on one leg, yoga stability workouts, etc.
Combination
Many types of workout programs include a combination of the four types of exercise listed above.
A good example of this is HIIT training (High-Intensity Interval Training) which often combines both strengthening and cardio elements in the workouts.
6 Great Ways to Get Started
1. Set an achievable goal
A goal is achievable when it can be reached on or before a certain deadline.
The biggest recommendation I can give is to start where you are at and create a SMART health goal.
Add flexibility to your goal as well so it is not too difficult to complete and prepare for the unexpected.
Take a minute to write down your typical day-to-day schedule with any potential barriers or challenges you may need to overcome. Doing so will help you become aware of any time constraints and mentally prepare to overcome barriers.
2. Find a workout time free from distractions
Timing and place go hand in hand when finding your distraction-free home workout. Being a father of a one year old I’ve found the best time for me to workout is either early in the morning or during one of his naps.
Knowing when you can workout free from distractions will help you stay focused and get more out of your home workout. 🙂
3. Make rest & recovery a priority
Getting enough rest and recovery holds many benefits and helps your body prepare for its next workout.
Stretching in between workouts and getting enough sleep each night has really helped me recover after a good workout.
Remember the body needs sufficient recovery to help it repair and become stronger.
Take rest days! Especially when just starting out.
Since there is not a golden standard for how many hours of recovery you need, my biggest recommendation is to listen to your body. 🙂
4. Find something you enjoy doing
Exercise doesn’t have to be boring!
Write down some things you enjoy doing that fall into the four exercise categories mentioned at the beginning of this article.
Select one or two of the activities you identified and implement them into your home workout routine.
At one point during my home workouts, I would use the game Just Dance as a workout session! It was fun and an excellent cardio workout.
5. Switch things up
Sometimes certain exercises can become repetitive or tedious, I totally get that.
Creating a list of enjoyable backup workouts becomes very useful when you feel unmotivated to do the same workout again.
Muscle confusion also happens when a new workout is implemented – this is a good thing!
Be adventurous, try something new!
6. Track your progress
Keeping track of progress helps keep you accountable and provides valuable data on your overall progression.
Some good ways to keep track of your exercise is by using a phone, exercise journal, or whiteboard to record everything.
Remember to set milestones of what you want to accomplish on the path to your end goal.
Summary
There are many benefits that come from exercise. I love the mood and confidence boosts that come from working out.
Exercise comes in various types – Aerobic (Cardio), Strength, Flexibility, Balance. Try workouts that fit into each category, especially when switching up your home workout routine.
Recap of the 6 great ways to get started:
Set an achievable goal
Find a workout time free from distractions
Make rest and recovery a priority
Find something you enjoy doing
Switch things up
Track your progress
Remember one of the most important tools one can possess when doing a new home workout routine is a positive attitude. Look at the good and what you have accomplished versus being too hard on yourself.
Thanks so much for reading! Feel free to drop a comment below with your thoughts!
After first getting married to my sweetheart, our net worth was in the negatives for sure, especially because of all of the student debt I had acquired.
Through patience, continual learning, and discipline, we have been able to turn our net worth into a positive number!
During our 4 years and a half years of marriage, we used the debt snowball method and investing to help me graduate student debt-free with my MBA and build a total of $350,000 net worth.
Right now, my wife is 25 and I am 27 years old. We are completely debt-free except for our two real estate property loans.
Before breaking down our $350,000 net worth, I want to share some interesting statistics.
This post may contain affiliate links; please see our disclaimer for details.
So what is the average net worth by age for Americans?
Let’s see the average net worth by age for Americans according to CNBC.
For those under age 35, the average net worth of Americans is $76,300.
For those ages 35 to 44, the average net worth of Americans is $436,200.
For those ages 45 to 54, the average net worth of Americans is $833,200.
For those ages 55 to 64, the average net worth of Americans is $1,175,900.
For those ages 55 to 64, the average net worth of Americans is $1,217,700.
For those ages 75 and above, the average net worth of Americans is $977,600.
What is Net Worth?
Net worth is the total value of all assets, minus the total of all liabilities.
In other words, net worth is everything you own minus all that you owe.
How to Calculate Net Worth?
Basically, the equation is NET WORTH = ASSETS – LIABILITIES.
Examples of Assets: real estate, checking accounts, saving accounts, retirement accounts, etc.
Examples of Liabilities: real estate loans, student loans, credit card debts, car loans, etc.
Our Net Worth Breakdown
Net Worth Pie Chart
1) Checking Accounts: $5000
We have two checking accounts, one for me and one for Shan. We have a total of $5000 combined between both of our checking accounts.
Our goal is to not put a lot of money into our checking accounts but is to keep a little more than our total monthly expenses.
2) Saving Accounts: $10,000
We also have 2 saving accounts, one for me and one for Shan. In total, we have $10,000 saved up for both of our savings accounts combined.
We use this money for big purchases such as saving up for a new home, travel, etc.
3) High Yield Saving Account AKA Emergency Fund: $11,000
We have one high-yield saving account which is also our emergency fund.
Each month we transfer $400 to our High Yield Saving Account / Emergency Fund and will continue to keep transferring money until we have enough savings to cover 6 months of expenses.
Having a fully-funded emergency fund is important to us and provides peace of mind.
4) Retirement/Tax Advantaged Accounts: $72,000
We have two Roth IRA accounts, both of which we max out each year.
One roll-over IRA account is from 2 of my previous employers’ traditional 401K accounts.
We then have two Roth 401K accounts with each of our current employers and contribute enough to our company’s Roth 401Ks to get the company match.
We also have one HSA saving account. My wife and I are on separate health insurance plans. I have an HDHP plan and my company matches part of the money that I put into my HSA. I max out my HSA every year because it has triple tax benefits and can also be a secondary/regular retirement account when you are 65 years old.
Combining all of those retirement accounts totals, we have $76,000.
5) Brokerage Accounts: $2,000
Right now we have one brokerage account and only invest $100 each month in it. We want to invest more in tax-advantaged accounts so that’s why we do not invest a lot in our brokerage account at the moment.
One car works great for us, we are very fortunate. My wife works from home permanently and I am on a hybrid schedule where I work in the office on certain days and from home on other days.
To be honest, we both don’t like to count the car as our asset because it decreases in value.
Generally speaking, the car should account as your asset.
7) Primary Residential Property: $130,000
We built a single-family house which is our primary residential property right now.
The new home was under construction in July of 2020. The building process was very cool and took ten months to finish.
Finishing our entire yard took two months after we moved in. We soon after welcomed our sweet Samoyed puppy named Tofu to the family! We finished our basement next.
Finishing a basement is a lot of work, but I’m learning many valuable handyman skills! A lot we did by ourselves but some parts were hired out.
After checking the current prices in our community, we found the equity in our home to be at least $130,000, especially with the basement and yard done.
8) Rental Property: $120,000
We have one rental property and sold our first townhouse rental a while back.
After first living in the condo for around two years we decided to rent it out. We also did some simple remodeling before renting it out.
Our rental property is giving us around $300 every month in cash flow now.
We checked condos in the same community and can say we have at least $120,000 house equity in it.
Side note: when calculating net worth for home loans you take the current market value minus what you owe on the loan.
Checking Accounts
$5,000
Savings Accounts
$10,000
High Yield Savings Accounts / Emergency Fund
$11,000
Retirement / Tax-advantaged Accounts
$72,000
Brokerage Accounts
$2,000
Car
$8,000
Primary Residence Property
$130,000
Rental Property
$120,000
TOTAL
$358,000
Net Worth Chart
“When you invest, you are buying a day that you don’t have to work.”
Aya Laraya
The past few years have been a very good time to invest in both real estate and the stock market.
We were able to buy a house when the market was slightly cooler, and then watch it increase in value.
The value or equity is still increasing and having rental income as passive income is an amazing thing!
We are so grateful we have been able to make $250,000 profits from our real estate investments with just $20,000 starting in 4 years during college.
We believe diversifying investments is extremely important and not just for real estate. Investing in tax-advantaged accounts is also very important in building our net worth.
Thank you for reading! Please drop a question or comment below – we’d love to hear your thoughts.
Disclaimer:
We hope the information in this article provides valuable insights to every reader but we, the Biesingers, are not financial advisors. When making your personal finance decisions, research multiple sources and/or receive advice from a licensed professional. As always, we wish you the best in your pursuit of financial independence!
Greetings from the Biesingers! Welcome to our financial independence retire early (FIRE) blog! We are so excited you are here and to share valuable financial freedom and health content with you. For more information about us, click HERE.
