- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Posted on 2/18/14 at 11:58 am to Salmon
quote:
quote:
Wife and I bring in around 70k, she only works part time while in school, graduates in May. Once she graduates her entire paycheck goes to savings. We typically save 1k a month, do whatever we want, go on multiple vacations. Hell we just went to Hawaii for 14 days and Vegas for New Years.
kids?
That, and so what? Yes, a good life can be had on your income, assuming we live like you do (not a slight, I'm sure you're acting responsibly).
But we eat out all the time because we work all the time. We spend money in our free time for the same reason (we have more money than time in some ways). Part of that goes with the jobs (and the income).
Clearly your "do whatever we want" is different than ours. That is a good thing for you, but doesn't apply to everyone.
Now, if you travel, eat out, live in relatively expensive housing, have expensive hobbies and have a house full of toys and luxury items, I am certainly interested in how you're doing it.
Posted on 2/18/14 at 12:00 pm to VABuckeye
quote:
It's not about what you make it's about what you keep and my plan every year is to keep at least more than the average family in America makes. That's my goal. YMMV.
It's a good goal. But there is always some underlying Dave Ramsey hostility in these threads whereby if you want to make more, you're by negative implication not saving or not living prudently. It's weird.
Posted on 2/18/14 at 12:00 pm to Pilot Tiger
Great place for a career. No way in hell that I'll retire anywhere near here.
I can't stand the keeping up with the Joneses mentality around here. Have a friend with a huge house in Great Falls. Just him and his wife. I went on a trip with him last fall and he was talking about downsizing to a townhouse of 6000-7000 square feet. I told him he's insane. It's just him and his wife but to him everything is about status. He cares more about what other people think about what he owns than he actually cares about the stuff he has. Ridiculous.
I can't stand the keeping up with the Joneses mentality around here. Have a friend with a huge house in Great Falls. Just him and his wife. I went on a trip with him last fall and he was talking about downsizing to a townhouse of 6000-7000 square feet. I told him he's insane. It's just him and his wife but to him everything is about status. He cares more about what other people think about what he owns than he actually cares about the stuff he has. Ridiculous.
Posted on 2/18/14 at 12:01 pm to Pilot Tiger
quote:
100k in La is prob around 150-200k here
Yep. According to CNN's calculator, 100k in BR is equivalent to 156k in Arlington.
Posted on 2/18/14 at 12:01 pm to Moustache
Actually, we did make a kid in Hawaii so we have one on the way.
My point was on 1 income we are throwing at least 1k a month into savings while still doing what we want. The wife will be a full time nurse in May. I don't see how you can't raise a kid on around 70k or so.
Yes we have nice vehicles. 2008 and 2012. I put the max into my 401k. We went smart on the house and got a 2 bedroom 2 bath while saving to skip the middle of the road house.
ETA:I have the terrible hobby of home brewing and craft beer. If the wife knew how much I spent on beer each month she may kill me.
My point was on 1 income we are throwing at least 1k a month into savings while still doing what we want. The wife will be a full time nurse in May. I don't see how you can't raise a kid on around 70k or so.
Yes we have nice vehicles. 2008 and 2012. I put the max into my 401k. We went smart on the house and got a 2 bedroom 2 bath while saving to skip the middle of the road house.
ETA:I have the terrible hobby of home brewing and craft beer. If the wife knew how much I spent on beer each month she may kill me.
This post was edited on 2/18/14 at 12:04 pm
Posted on 2/18/14 at 12:02 pm to VABuckeye
quote:
Have a friend
I could not be friends with this clown.
Posted on 2/18/14 at 12:03 pm to Ironbat31
I don't see how a single income less than 60k can raise kids without needing govt assistance. And that's a "meh" upbringing, but doable.
This post was edited on 2/18/14 at 12:04 pm
Posted on 2/18/14 at 12:04 pm to Ironbat31
Posted on 2/18/14 at 12:04 pm to Pettifogger
quote:
But there is always some underlying Dave Ramsey hostility in these threads whereby if you want to make more, you're by negative implication not saving or not living prudently
Exactly. It is like the tax bracket argument that if I make more I'll be in a higher tax bracket and have less money. Huh? What moron believes that crap.
I'm always looking to earn more. The more I earn now and save the faster I get to living the lifestyle I really want to live and where I want to live it. I'm about simplifying my life in the future, not making it more complicated.
Posted on 2/18/14 at 12:04 pm to VABuckeye
quote:I could retire to a couple acres out in Leesburg or even further out. Pretty mountains, less bs
Great place for a career. No way in hell that I'll retire anywhere near here.
but Id rather get away from this weather
Posted on 2/18/14 at 12:04 pm to Pettifogger
(no message)
This post was edited on 5/7/14 at 8:35 am
Posted on 2/18/14 at 12:05 pm to VABuckeye
quote:
Exactly. It is like the tax bracket argument that if I make more I'll be in a higher tax bracket and have less money. Huh? What moron believes that crap.
Do people really say this?
Posted on 2/18/14 at 12:05 pm to CidCock
quote:
I could not be friends with this clown.
I see him about once every 5 years and every time we get together I'm reminded why I see him so little. He's the most status driven individual I've ever met in my life.
Posted on 2/18/14 at 12:07 pm to Ironbat31
quote:
Or what if youre a starting engieenr, and your wife wont work
Theres your problem, but I assume you know that.
Posted on 2/18/14 at 12:07 pm to RBWilliams8
quote:
Do people really say this?
Yep. Read the money board around this time of year. There are a lot of people that believe that as they move up tax brackets they are taxed back to dollar one that they've earned for the year.
The only tax that you want to avoid if you can is the AMT (Alternative Minimum Tax). That thing sucks.
Posted on 2/18/14 at 12:13 pm to BoogaBear
quote:
Actually, we did make a kid in Hawaii so we have one on the way.
quote:
My point was on 1 income we are throwing at least 1k a month into savings while still doing what we want. The wife will be a full time nurse in May. I don't see how you can't raise a kid on around 70k or so.
You certainly can raise 1 kid on 70k and be comfortable. Two kids? ehhhh....you can do it, but it'll be tight and no more Hawaiian vacations.
quote:
throwing at least 1k a month into savings
1k a month is eaten up by Diapers, formula, and really good daycare. My daycare for two children runs me just below 1600/month. It's about half that for 1 child. I"m in the Houston area for reference.
quote:
Yes we have nice vehicles. 2008 and 2012
Then you'll be needing another in about 3-4 years or at least having to put money into it.
quote:
I put the max into my 401
Great job. BUt, now you have to put a solid amount into a 529 too. I guess you don't have to, but...
quote:
We went smart on the house and got a 2 bedroom 2 bath while saving to skip the middle of the road house.
I wouldn't buy a 2 BR house, but that's just my preference. I have guests frequently and two kids. Plus 2 BR homes are typically harder to sell, unless it's a townhome of some sort in a flourishing metro area.
quote:
:I have the terrible hobby of home brewing and craft beer. If the wife knew how much I spent on beer each month she may kill me.
You may find time a bit short for this hobby. $ too if you want to keep saving the amount you are.
Posted on 2/18/14 at 12:18 pm to Ironbat31
Wife and I make 150 to 165ish together depending on bonuses. We are expecting our first kid and I'm freaked out about money. I know we'll be fine and I'm just a tightwad, but I don't see how some families can do as much as they do (vacations, weddings, college, etc)
We do Have student loans for the wife to pay off right now, so that's another reason our income seems smaller than it is.
We do Have student loans for the wife to pay off right now, so that's another reason our income seems smaller than it is.
Posted on 2/18/14 at 12:21 pm to Moustache
quote:
Yep. According to CNN's calculator, 100k in BR is equivalent to 156k in Arlington.
100k in BR is 148k here.
You can still comfortably support a family on 100k here and save money, but will not be wealthy by any means. Housing is the biggest killer locally.
Posted on 2/18/14 at 12:25 pm to KG6
quote:
Wife and I make 150 to 165ish together depending on bonuses. We are expecting our first kid and I'm freaked out about money.
Chill. I make 60, and my wife is a stay at home mom. No day care costs.
If she's breast feeds, it doesn't cost much. Pretty much diapers and wipes. She doesn't need to buy a bunch of fancy clothes either.
If you've filled your life with debt, you'll need to worry. If you live under your means, the $ part isn't as big of a worry as most say.
quote:
but I don't see how some families can do as much as they do (vacations, weddings, college, etc)
They enjoy credit card bills and being stressed, that's how.
This post was edited on 2/18/14 at 12:31 pm
Popular
Back to top
Follow TigerDroppings for LSU Football News