In today's digital world you need ID theft protection that actually works protect yourself at zander.com So my wife and I currently invest about 43% of our income and she wants to take a trip to Europe next year So I was wondering if that is something that we should look at doing reduce our investment great in order to take that trip Okay, are you guys out of debt? We are out of debt. We are that free good and what's your household income sir? So this year we should know about 175 and what's your net worth?
It's around 89,000 89,000 Yes, with a hundred and seventy five thousand dollar income in a forty percent investment, right? Yes, so my wife and I we basically finished our education as of last year and we paid our way off-free school. Oh, okay Yeah, so this is like our first year of actually making a real income So you're both now making good money for the first time ever and you get to live your dream of investing and she gets to live her dream of Traveling and that's in conflict now. It makes sense Yes, sir.
Okay, and what do you guys do for a living? So I identify the gender and my wife is a ABA therapist Okay, you just finished your education and I'm sorry. Did I miss anything? I identify as a janitor is that what you said?
So basically I have profit sharing with a company directly under the owners so my official title would be coo, but Honestly, I have to do a lot of different things. Well welcome to be in the coo, but I mean, what do you make? What do you make of your mr. Janitor?
So I make about eighty thousand a year. Okay. That's funny Okay, I identify oh my lord. All right, that's cute.
All right What's the trip to Europe cost? So we actually went to Europe for a high moon which was generously gifted to us by the business owners But when they paid for it, it was around $25,000 and how much we budget This trip would probably look around 18 to 20 from what I've been looking at. Yeah, all right, okay Do you guys have any money saved? Worth it worth it.
I don't even know what that means. Is that in retirement? Like is that cash? What is that?
Yeah, so about 16,000 is in a Roth IRA about 6,000 even my wife's 401k I have 35,000 in a cash brokerage account and then we have about $15,000 in high-yield savings account. Okay, and how old are you guys? So I'm 31 and I like this 28. Okay.
Well, no, I love this This is a great approach to the question Thank you And it just took us a minute to find out where you guys really are because there's so many assumptions I could make when I see on my screen my wife wants to go to Europe and I want to say 40% I was getting ready to call your Scrooge McDuck or something, but um, but I don't think you are I think you're just getting started and you have your serious guy who wants to hit some numbers and your wife is serious about enjoying some of this Hard work and so those are fair both of them are fair things to do with money both both arguments are and so I don't think I would Slap my fist on the table and declare either one of these answers to be stupid Okay, the thing that throws it off a little is it's 40% of your income is going into retirement So we do tell people systematically throughout the scope of your life whether this year or next year I would go to Europe because systematically throughout the scope of your life You need to constantly with a rhythm be enjoying your money investing your money and being generous with your money If you consistently with rhythm do all three of those things all the data that we have and all the experience We have a decades of doing this tells us that you're gonna not only become wealthy But also be very relationally healthy and have a high likelihood of physical health too Is it by the way weirdly enough? Um, and so all of those things go together when you're doing all three of those things So to say no always save money and live in a cave collect lint and only come out on triple coupon thursday No, we don't believe that we think you live like no one else so that later you can live and give like no one else It feels like to me you guys have paid a Price of sacrifice to get the education under your belt and to get to this point to get started Your reward on the price is saving and investing because that gives you a high her reward is the travel and the fun And both are legitimate and you can do both. Yeah, that's the great thing because of your income because where you guys are Um, yeah, you guys would be able to to save cash flow trip to Europe and be saving all together So but you know, I'm probably gonna negotiate, you know, as we're discussing this some trade-offs here Okay, if we do Europe this year, we really need to be responsible only need to spend x if we were to wait 18 months We could spend y yes, and I have just a slight, you know, not painting a broad stroke with this But the fact that you guys just went to Europe anyway anyway and she wants to go back like I bet she does I bet it's it's wonderful. That's great.
But also we can't be in a habit or a pattern of Doing this all the time we do Europe every two because it's just gonna continue to you know If you have the money for you can't but I just I want to make sure the pattern is set and the contentment and all of that is Being talked about too that it's not just this assumption Yeah, this is what we're gonna do all the same thing is we're not giving you a really good answer because both answers are okay But it's probably some hybrid of the two a little rhythm a little on and a little off is a better thing And so if we do this then we're not gonna do another big trip for three years And we're gonna pile up and get this net worth going and get some results So that we can do trips forever because I mean if you keep doing the net worth thing the trips are infinite later Yeah, but but if you don't if you don't if you constantly are eating up the money constantly So again, it needs to not be a pattern like Rachel says and there's needs to be a trade-off and go okay We spend x now or y 18 months from now, but in either case we're probably not gonna do You know once every five years until we hit a million dollars. We're probably not gonna do a bunch of big huge trips That's a big trip. That's an expense. Well, and I'll say there's a group of girls that went Um to Europe that we work with and they were just got back and they did not they spent half of that and they were able to do a great Fun trip, you know what I mean?
So there's different degrees at which you can do a trip to so you know throw in that out there too Wouldn't argue that wouldn't argue that yeah, so it yes and yes, yeah, sorry. I wish I could be more precise usually Devilishly um precise, but on this one I'm gonna be philosophical a little bit and let you kind of learn the rhythm idea between these three things of generosity and fun and Investing generosity and fun and investing and then ratios of those things that allow them all to occur Reasonably the best idea that protection comes from zander real monitoring full restoration. No fluff learn more at zander.com