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re: Here's the budget breakdown of a couple that make $500K and still feel average
Posted on 1/27/24 at 12:34 am to castorinho
Posted on 1/27/24 at 12:34 am to castorinho
quote:
2- on the budget itself, mortgage and childcare are two things they can probably trim a lot out of.
I don’t even understand making 500k and having a car payment/mortgage/student loans. I’d live sparsely a few years and buy it all outright then save. Rent a house for 5 years and save up over a million, buy a nice 5-600k home cash, 2 cars, pay off student loans. Then you have only living expenses and put the rest in investments so it grows
1
Posted on 1/27/24 at 9:30 am to deltaland
quote:
I don’t even understand making 500k and having a car payment/mortgage/student loans. I’d live sparsely a few years and buy it all outright then save
Inefficient.
Now you can certainly make the argument that they don’t need cars at all, but trading liquidity and opportunity to save a relatively small amount of interest expense is dumb.
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