- My Forums
- Tiger Rant
- LSU Score Board
- LSU Recruiting
- SEC Rant
- SEC Score Board
- 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
re: Age when you first made 100k at your job
Posted on 6/6/17 at 11:38 am to xtrashot
Posted on 6/6/17 at 11:38 am to xtrashot
quote:
My wife and I make 250k+ but with 4 kids I don't feel I'll ever be able to stop working.
What is your expense breakout? Unless you are in an extremely high COL area, someone is spending too much money
quote:
Only have a mortgage payment though and only one income so no child care expenses.
I'm going to guess he is referring to paying for college 4x. If he combines that with say a nice home, new expensive vehicles and the works $250k isn't as much as you'd think
$400k, 30YR Mortgage + Insurance + Taxes: $2250+ (Prob low end)
$35,000 Truck, 60m 0% Loan: $631
$35,000 New Toyota Forerunner 60m 0% loan: $631
College Savings for 8YO complete cost: $500-750/mo
House + Car + College Monthly Cost = $5500 = $2250 + (~$625 x 2) + ($500 x 4)
Doesn't include all the other expensive things in life
This post was edited on 6/6/17 at 11:52 am
2
Posted on 6/6/17 at 11:57 am to GenesChin
quote:
$35,000 Truck, 60m 0% Loan: $631
$35,000 New Toyota Forerunner 60m 0% loan: $631
This is why you lease if you don't drive much. Unless you plan on keeping both vehicles forever. Then you gain 1200 in cash after 5 years.
Both those notes could be 800 total.
Edit:
Also on the kids college, they have to have some responsibility in that. You are sacrificing retirement and free time to spend with them now. I understand that's more of a personal thing though.
This post was edited on 6/6/17 at 11:58 am
Posted on 6/6/17 at 2:24 pm to GenesChin
That's actually a pretty close breakdown. We also both put away 10% in our 401k's and have other investment accounts that we contribute roughly $500 a month to. Another large expense is travel. (This is somewhere that we should probably cut back). We take 4-5 trips a year with one usually being out of the country. We love to travel but it's an expensive habit.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News