Lux Investing
how should i manage my money and what will my net worth be?
I am 30 years old, making 200K, a year. My net worth is 0 as of today but also I have no debt either.......I am a physician, literally just finished residency and this is my first year earning real bucks....lets say from age 30 to age 60 i make this same amount on average to, how much should i put away each year REALISTICALLY AND IDEALLY(assuming of expenses I end up buying a house costing 400-5K, and 2 cars maybe 40K each, and am married with 2 kids/ want to put my kids through private college. as far as savings, i have a roth IRA currently valued at 30,000 (thou I dont qualify to invest any more), so this will stay untouched until about 60......assuming that I invest/save wisely, and have the above major expenses to pay, what will you guess my net worth would be at age 60 i know this is long, and largely subjective/hard to give absolute predictions but any help is predicted, ive never handled money and often physicians are lousy with money, and I wouldn't want to fall into that
Public Comments
- In all seriousness...GET A CPA. They will handle your money and tell you how to invest.
- well, if your making this kind of money. you need to start investing your money. right now the property is going down hill so unless you find real good deals go for the investment that pays for it self. apartment complex. hire a property management company to run it. personal stay out of stock market. there a big bunch of thief's your not going to have time to watch your investments. lots of times doctors get together for investment purpose.
