- May 21, 2024
- Posted by: legaleseblogger
- Category: Related News
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AI Legalese Decoder: Helping You Achieve Financial Comfort
Financial Goals and Challenges
Heading: Setting Financial Goals for a Secure Future
Content:
As an individual, my financial goal is to have $750,000 (adjusted for inflation to Jan. 2024 dollars) in liquid assets that are readily available at any time, excluding my 401k savings. Currently, I only have approximately $200,000 in assets. In order to feel fully financially comfortable, I believe that having $750,000 in liquid assets is essential. However, at my current rate of saving and investing, I estimate that it will take me around 15 years to reach this goal. This prolonged timeline causes me to experience extreme unease when it comes to spending money, as I am far from achieving my desired financial security.
Heading: Overcoming Career Challenges to Achieve Financial Stability
Content:
In order to expedite my journey towards reaching $750,000 in liquid assets, I recognize the importance of having a clear career path that offers opportunities for growth and advancement. Unfortunately, I find myself on a dead-end career path that does not provide me with the means to accelerate my financial progress. Without a viable career trajectory, I am left feeling uncertain and constrained in my ability to achieve my financial goals within a reasonable timeframe.
AI Legalese Decoder: A Solution to Financial Uncertainty
Heading: Harnessing AI Technology for Financial Clarity
Content:
The AI Legalese Decoder is a revolutionary tool that can help individuals like myself navigate complex financial situations with ease and confidence. By utilizing cutting-edge artificial intelligence technology, the AI Legalese Decoder can analyze financial data, interpret legal documents, and provide personalized recommendations tailored to your specific financial goals.
Heading: Empowering Financial Security with AI Insights
Content:
With the assistance of the AI Legalese Decoder, I can gain valuable insights and guidance on how to optimize my financial planning and investment strategies. By leveraging the power of AI technology, I can make informed decisions that will propel me towards achieving my goal of attaining $750,000 in liquid assets. Through the AI Legalese Decoder, I can overcome the challenges posed by my stagnant career path and create a roadmap towards financial stability and success.
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****** just grabbed a
What do you need 750k liquid for? My expenses aren’t even that much over 5 years.
6 months expenses…
My person: if you think any part of saving 550k of liquid, non-retirement funds (insinuation being you’re also maxing out retirement options) over 15 years is either “dead-end” or middle class, I think you might want to do a bit more research about this sub.
You remind me of myself about 18 years ago. I don’t think the problem is money. You have plenty of it and are in a position to save at a good pace. The problem is that you don’t feel like that’s the case. If you are anytime like me, it’s a feelings problem. Money is a tool that can fix a lot of problems, but it’s only one tool and it can’t be relief on for everything. It’s that whole hanmmer and everything looking like a nail type thing. If you had 750k it probably wouldn’t be enough.
I was and to a degree, still am, insecure about my standing in the world. I don’t have many friends but when I do get around them I don’t feel so money focused. I’ve been working on my mental health and discovering why I’m feeling the ways I do.
I just checked your post history and your anxieties are something I can relate with. Maybe try connecting with your inner self and ask why you need that much and then ask why that is the answer and follow each answer with another why statement until you can’t go why further. I ran into not wanting to be alone.
I could be reading you all wrong, but that’s where my mind goes anyway. I am also diagnosed with OCD and I have many obsessions that stem from not feeling like I did enough, checked enough, am sure enough, etc.
I can’t imagine keeping that much just sitting in cash and not making any money, unless you’re talking about at least a HYSA?? That just seems asinine for savings over 15 years. Your money is literally losing purchasing power every day, especially in high inflation environments. I’d work through some of that mental block.
I think you’re in the wrong sub….
r/lostredditors
A decent roof over my head that I own. So in this market, somewhere in the neighborhood of eleventy billion.
Well I’m very poor and not saving at all and have CC debt, student loans, and a mortgage. So. Outside the mortgage, honestly even $20k in the bank would be a huge relief.
Shit at this point, even $5k in the bank would psychologically work wonders.
But to actually not have financial stress, I’d have to have enough to pay off my mortgage $300k, and probably double that for emergencies, and still be working and I’d be like “yeah, this is great”.
Six months expenses. So like $60k? I have to wonder what is going on in your life, OP, that you think you need to hoard loads of cash.
Are you considering a post tax brokerage account to be liquid? Or are you saying you want $750k in cash?
After pension and ss, I expect to need an additional 20k per year. So 20k*25 is $500k.
24k a year for 20 years, round up to 500k
Paid off house in an area with low property taxes and $150k savings.
I want to retire at 60. I’m 37 now. So I have 23 years.
If I had $1M in my retirement accounts today, with 7% compounded returns, I could likely count on $5M by 60. With a 4% annual withdrawal rate, that would give me $200k/year in retirement to spend and in theory, never have to touch the principal amount.
So yeah, my answer is $1M
I don’t feel like I save very aggressively in the first place. I save what I need to given the plans I have, and I spend the rest.
If I got very far ahead of where I needed to be, I guess I could adjust downward, but I don’t really imagine that because I would see any huge boon as market volatility. If I had some huge income boost, as I have before, I’d just move the goal posts on savings.
Are you talking liquid as in cash? Not invested at all?
For me liquid (cash) = 1 year salary.
I don’t keep an emergency fund (sometimes I mess up and have an extra $500 floating around).
nice
You mean fire number?
You’re referring to “investable assets”. Common guidance says that number is $5M for most people. Lower if you’re not on the coasts.
[Comfortable retirement amount](https://finance.yahoo.com/news/retire-55-5-million-140009535.html)
About 20-25K in an online high interest savings account. Used to have that and damn baby it felt good! Building it back up now.
I’m at about a million between home, liquid savings, pensions and investments. I feel pretty good now.
Previous to reaching that mark I felt like I needed to save more. Now I know that I’m on a good path to retire early.
Credit cards are for sudden needs, your money should be making money.
$20k
$3M