Jay has a net worth of 1.8M. He and his wife both have government jobs working for the department of defense. He saves 50% of his gross income and lives off of 20% of his gross income. He attended the Air Force and discussed the importance of marrying the right person. Jay also shares thoughts on risk tolerance, real estate investing (he has no real estate), living debt free, frugality and teaching children positive financial behavior.
Gender Male
Age 35
Profession Department of Defense
Net Worth 1.8 Mil
Allocation
Retirement Accounts 687k
Non Retirement Accounts 700k
Home Equity 300k
529/ESA 157K
Age Became Millionaire 33
Household Annual Spending 38K
Range of Annual Income 98k-243k
This question is for Jay from episode 192. Really inspirational story that likely resonated with a lot of listeners. It sounds like even with a high savings rate around 50% your family also prioritized charitable giving. Was there an intentional percentage that you allocated for giving? If so did this percentage change thru your journey? Have you ever considered doner advised funds?