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re: Here's how much money you should have saved at every age
Posted on 2/24/17 at 9:26 am to poochie
Posted on 2/24/17 at 9:26 am to poochie
quote:
We have kids, private school tuition, starting jobs were $30k and $40k, we have car payments, travel, and spend on other "discretionary" stuff. And we're hitting these goals. Only thing not on your list was college debt.
you were able to put kids in private school, spent money on cars, travel and dinners out and save money while combining for $70k/year? Geez where do you live? Im assuming the private schools you're talking about aren't $20k/year and the homes aren't $300k+?
3
Posted on 2/24/17 at 9:31 am to dabigfella
Or had kids later in life. It would be damn hard to hit those figures getting out of school at 22-23 and having kids at 24. Now if you have your kids around 30, it wouldn't as hard, assuming salary increases throughout your 20's.
Posted on 2/24/17 at 9:32 am to dabigfella
Started at $70k which is what he asked. We have a nice but modest house that doesn't bleed us dry. And very few if any private schools outside of major cities in SLa cost $20k/year. And when we're getting in the meat of private school tuition years, our house will be paid off as will our one car note currently.
I'm just pointing out that if you stick to the plan and don't keep up with the jones's, this is a do'able path. this is not some kind of crazy path that makes you live in your mom's basement and eat potted meat for every meal and bike to work.
I'm just pointing out that if you stick to the plan and don't keep up with the jones's, this is a do'able path. this is not some kind of crazy path that makes you live in your mom's basement and eat potted meat for every meal and bike to work.
Posted on 2/24/17 at 9:36 am to dabigfella
quote:
you were able to put kids in private school, spent money on cars, travel and dinners out and save money while combining for $70k/year? Geez where do you live?
As much as some on these boards complain about private school tuition, no one seems to realize that this is also a discretionary expense. No one HAS to send their kids to private school. It's a choice. Some areas are worse than others obviously and private school makes sense but I don't understand people acting like it's mandatory.
And yes the guy probably doesn't live in LA or NYC. Not all areas have a high cost of living.
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