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re: Perfect Annual Salary?
Posted on 7/30/13 at 2:42 pm to wegotdatwood
Posted on 7/30/13 at 2:42 pm to wegotdatwood
quote:
I'll start off at 47k, wife works as a clinic nurse and makes 37k. If she went to a hospital (which she won't) she would make 45 to 50.
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.
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
Possible without cars notes which we don't have. That's why I'm fighting it
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
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.
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