How One Couple Climbed Out of Debt and Became Millionaires in Their 30s

Re:How One Couple Climbed Out of Debt and Became Millionaire... by rawnlq on Wednesday June 03, 2015 @10:43PM (#9657151)

Thanks for actually doing the math! =)

There might be a mistake with the $90k/yr leftover though. If you lose 35% of $250k/yr to tax (87.5k) and need to save $93k each year, then you should only have about $70k/yr left.

This is 5.8k a month to support two people which is barely doable for me personally (according to my past spending trends on mint.com).

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Re:How One Couple Climbed Out of Debt and Became Millionaire... by basseq on Thursday June 04, 2015 @08:23AM (#9658716)

I'll blame rounding. :)

It's not easy, but it's doable.

There are other ways to reach a million in 8 years, but this is a pretty sure-fire one.

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Re:How One Couple Climbed Out of Debt and Became Millionaire... by rawnlq on Thursday June 04, 2015 @10:49AM (#9659628)

Care to elaborate? =P

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Re:How One Couple Climbed Out of Debt and Became Millionaire... by basseq on Thursday June 04, 2015 @09:22PM (#9663320)

This is going to sound obvious and/or snarky, but:

- Explore other investment types and vehicles (e.g., optimize for cash flow, real estate, increased risk) to accelerate asset growth.

- Make more money somewhere else (including taking advantage of simple stuff like 401(k) matching).

- Assume you're going to make more money later (and save more money later) / get a better job.

- Hope for a huge exit / win the lottery / rich uncle inheritance.

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