In your case, I would make every effort to live off of one salary (it is good practice, anyway) and save 100% of the lower salary (in this case, hers). It likely won't be possible, but, at this fairly early stage, there's a chance. If you can pull that off for just a few years, the habits you will have developed, plus the income potential from investing that second salary could set you up for life.

3 ...

Report Post

Posted by wegotdatwood

Member since Aug 2009

17094 posts

Posted on 7/30/13 at 2:48 pm to Ace Midnight

I'll try. Will be hard to pay a house, insurance, and daycare etc in $2800 a month net.

Possible without cars notes which we don't have. That's why I'm fighting it

0 ...

Report Post

Posted by TheCaterpillar

Member since Jan 2004

76774 posts

Posted on 7/30/13 at 2:50 pm to Ace Midnight

quote:
In your case, I would make every effort to live off of one salary (it is good practice, anyway) and save 100% of the lower salary (in this case, hers). It likely won't be possible, but, at this fairly early stage, there's a chance. If you can pull that off for just a few years, the habits you will have developed, plus the income potential from investing that second salary could set you up for life.

This is a phenomenal idea.

The gf and I are about to get engaged and move in with each other. I will try to do this with my 60k and save all of her 33k post taxes.

I love when I get good nuggets from td.com, it justifies all those ridiculous hours spent on here

0 ...

Report Post

Posted by HeadyMurphey

Los Santos

Member since Jan 2008

17187 posts

Posted on 7/30/13 at 3:20 pm to Ace Midnight

quote:
I would make every effort to live off of one salary

This is what I did. It made the decision for my wife to stay home with our child pretty simple. I never have, nor never will depend on her for income. Anything she makes is just a bonus.

0 ...

Report Post

Money Talk - Replies to Post

Return To Board

Page 1

Return To Board