My dad always said he never made any money but the money he did make, made land payments, cattle payments, machinery payments...etc..
Sorta like Jim, a little cash poor but all the while building up major equity.
Spending cash on dumb chit is fun but keep it in check!
Crude math but my wife and I save probably 30-40% of our income, or at least it remains a tangible asset.
But we have no expensive little children to feed and live in NE MT in a little old house and never do anything fun, wahhhh wahhhh.....lol
We literally live on 15-20% max of our income. Rest gets put into capital improvements on the properties or capital investments in the companies, or to finance projects. All of which builds assets/net worth.
Everything is paid off, kids college educations fully funded, retirement funds above average for age, passive income from rentals equal to our average yearly expenses.
On the flip side, one reason we can live on that amount is because we work nearly every day. If I retired and was able to fish/travel as much as I look forward to doing I’ll need twice as much in retirement as I do now.
