Yeah, living below your means is the way to do it.

Well, income property is one of many avenues you can take for a fully balanced portfolio. It just so happens that this is an incredibly good market for it due to the collapse in construction after the financial crisis, and the fact that some markets - such as California - have a serious undersupply of homes.

Don't throw everything in there though. Real estate has its own forms of risk, and the rate of return is not guaranteed to be as high.

Yeah, you can get seriously fucked with income property. Best to stay away unless you know what you're doing and really willing to invest the time needed.

i also had an IRA and my wife has that and a 401k.

rule of thumb. never buy a property that you would not live in yourself. the two i have now was the first one and the last one i bought. lived in the first, living in the second. i sold three and had the proceeds pay off my loans.

It depends a lot on your field of work and your location, too. There are a lot of places/careers that this simply isn't feasible.

yes, but even so little steps make a big journey. i never made really high income and was not working for large periods. it was living below my means that really did the trick.

Spend it now and don't worry about the future. The government will bail you out. Wait that's what corporations do she they are too big to fail. So incorporate yourself first.

"Live while your alive. No one will survive."

do you really believe that randomizer?

I saved and invested for decades only to watch my health fail when I wanted to spend it. I really wished I had spent more when I was younger and I could have really enjoyed it.

My maternal grandparents lost their money first to a period of hyperinflation during the 1930s and then the rest confiscated by the German government when Hitler came to power. It took until the 1980s until reparations were finally completed.

The high inflation of the 1980s cut my parents savings in real terms.

Then there are friends that died early and never used their savings. You might as well spend now and enjoy money unless you want some one else to spend it instead.

<cough>. No one listen to that shit. If you plan to have a family, save and be smart.

It's hard to give good advice without knowing what kind of funds are available in your 401k and their expense ratios, but generally...

1) Figure out an asset allocation that has a risk level you are comfortable with.

2) Invest in whatever low-cost index funds your 401k provides.

3) Rebalance yearly

4) Don't think too much about it. Don't sweat the market from day to day. And don't listen to anyone on the cable finance channels.

"The New Coffeehouse Investor" and "The Boglehead's Guide to Investing" are two quick reads that you may find helpful.