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re: Review my personal finances
Posted on 2/28/25 at 12:23 pm to Larry Gooseman
Posted on 2/28/25 at 12:23 pm to Larry Gooseman
I stated it above but I know several people personally that read tiger droppings and I don’t want to be doxxed so I typically delete a lot of my posts over time.
2
Posted on 2/28/25 at 12:27 pm to Redstickbaw
That’s great, but please explain how a family of five where at least one child drives, spends just 4-5k/month.
Posted on 2/28/25 at 1:52 pm to bayoubengals88
She’s in the permit phase so no insurance yet. I’m sure that’ll add a few hundred a month. I’ve outlined my expenses in a previous reply. Where’s the confusion?
This post was edited on 2/28/25 at 1:53 pm
Posted on 2/28/25 at 1:55 pm to Redstickbaw
quote:
How is it hard to believe someone can’t live on 4-5k per month with no debt payments?
Man this reads like someone who does not have children lmao.
you and your wife both work right? So I see you forgot to account for $500 per month of childcare for 4 years for each child. Don't forget the price of the actual childbirth, diapers, formula, child medical care, baby food. Multiple times 3 kids (or more? never heard someone refer to their # of children as "a couple" like you did lol). And oh yea and they are the cheaper when they're little - wait till sports/dance/gym/etc, eating gigantic portions, wanting nice clothes (and needing clothes in general since you're all out of baby/toddler hand-me-downs), social events, school fundraisers, list goes on and on.
INB4 "my mother in law watched the kids for free, my wife birthed the child at home for a low fee, the baby was breastfed until 4 years old so we never paid for food or formula, we used cloth diapers, my kids don't do any extracurriculars and eat their own shite so food is basically a non-expense, they wear my old clothes and are ecstatic to put on dad's old yellowed white tees from the 90s. like I said guys, it's not so hard to understand how to do this on 4k per month"
Posted on 2/28/25 at 2:20 pm to Sir Saint
Wife took a few years off until they started grade school so there was no daycare expenses those years. She works the same hours as their school time these days. We didn’t pay daycare she stayed home. I was able to make up for a lot her loss income those years with overtime. Plants pay a lot. Especially if you are willing to work overtime. Delivery births after insurance were around 2k each. What on earth are you all spending on kids that makes it seem like this is impossible? Yes we were able to dodge the largest expense of daycare
This post was edited on 2/28/25 at 2:28 pm
Posted on 2/28/25 at 2:22 pm to Sir Saint
Baby dad here. My daycare is 3k but rest ain’t that expensive. Maybe 200-300 a month
Posted on 2/28/25 at 3:35 pm to Redstickbaw
quote:
Our income ranged from 150-200k from our mid 20s to mid 30s so it’s been 10 years. We always saved and invested aggressively in the range of 20-40% to our 401ks. Before we had kids I was putting 30% in my 401k with a 10% company match
No you weren't, this math doesn't add up.
30% of $150k = $45k, 10 years ago max personal contribution into a 401K was was $18,000 per person.
Just stop lying.
Posted on 2/28/25 at 3:40 pm to whodatigahbait
Maybe he means 20-30% total so that’s 10%-15% each
Posted on 2/28/25 at 3:41 pm to fareplay
I have 3 myself. I know how much they cost. Just poking the LARPer to see what BS he comes up with next.
As expected - His wife quit her job to raise his 3+ kids so they never paid for daycare, guess that would be about 7 years? Luckily he says worked overtime for 7 consecutive years to cover her income
Bet his wife loved being home alone with 3 kids so daddy could make sure the 401k was maxed
As expected - His wife quit her job to raise his 3+ kids so they never paid for daycare, guess that would be about 7 years? Luckily he says worked overtime for 7 consecutive years to cover her income
Bet his wife loved being home alone with 3 kids so daddy could make sure the 401k was maxed
Posted on 2/28/25 at 3:48 pm to Sir Saint
quote:
As expected - His wife quit her job to raise his 3+ kids so they never paid for daycare, guess that would be about 7 years? Luckily he says worked overtime for 7 consecutive years to cover her income
Bet his wife loved being home alone with 3 kids so daddy could make sure the 401k was maxed
How did their income not dip?
Also - how'd they pay off their house while also putting away 20-40%?
None of it makes sense.
Posted on 2/28/25 at 4:01 pm to Redstickbaw
quote:No it’s because those posts contained information that was totally contradictory to what you are writing here.
I stated it above but I know several people personally that read tiger droppings and I don’t want to be doxxed so I typically delete a lot of my posts over time.
Posted on 2/28/25 at 4:12 pm to whodatigahbait
I call bull shite that he/they were saving 40k for retirement in mid 20s with at least one and possibly 2-3 kids.
He’s making 135 now…what was he making 10 years ago? And putting 40k toward retirement? Nah…
He’s making 135 now…what was he making 10 years ago? And putting 40k toward retirement? Nah…
This post was edited on 2/28/25 at 5:05 pm
Posted on 2/28/25 at 4:42 pm to whodatigahbait
quote:
How did their income not dip?
He’ll say he made it up with overtime.
I don’t really care if he’s a fake or real story. Excess free cash flow is a gift horse…can choose to spend some now or try to pull financial independent date up sooner. It’s just a personal choice without a right or wrong answer.
I’m shocked at the spending per month. Even carving out any daycare or mortgage related expenses and we would still be at $7-8K monthly.
Posted on 2/28/25 at 4:55 pm to Redstickbaw
One area you should increase is the non-qualified investments. You don’t need that large in qualified /retirement accounts. A non-qualified account provides so much more flexibility especially if you decide to retire early.
Posted on 2/28/25 at 5:19 pm to Redstickbaw
quote:
ypical monthly expenses average 4k-5k
How is this so low? That's impressive. How many kids?
Posted on 2/28/25 at 5:40 pm to lynxcat
quote:
I’m shocked at the spending per month. Even carving out any daycare or mortgage related expenses and we would still be at $7-8K monthly.
This. Last year buckled down in January and spent 6200, that was about a 40% reduction. Costs a lot to live these days.
Posted on 2/28/25 at 6:14 pm to Billy Blanks
quote:
How is this so low? That's impressive. How many kids?
Don’t beat yourself up man, this post is made up.
Posted on 2/28/25 at 7:00 pm to Billy Blanks
Billy, what exactly is your normal expenses that total 6,500? I’m trying to see where the disconnect is since so many are saying it’s impossible that my expenses are what they are. I’m not posting screen shots of my retirement accounts on a message board so it is what it is if someone doesn’t believe the 900k in retirement savings. As those who are not familiar with plant pay, you can have a base of 100-120 but easily hit 180-200k in a year if you take all the over time offered. What I’ve done is backed off overtime when my wife started back so yes I could make 200k myself but I would have no life so when she went back to work I stopped as much overtime since she was back working.
Posted on 2/28/25 at 7:09 pm to whodatigahbait
quote:
No you weren't, this math doesn't add up. 30% of $150k = $45k, 10 years ago max personal contribution into a 401K was was $18,000 per person. Just stop lying.
Have you ever heard of pre tax limits in 401k and also after tax contributions? As of this year you can contribute a total of 70k into a 401k for combined employee and employer contributions. Google it this isn’t hard information to find. I know this because I’ve contributed way over the pretax limit every year for 10 years
Posted on 2/28/25 at 9:27 pm to Sir Saint
Yea I tend to agree… I’m calling BS.
Unless you inherited/won/etc. this money, but wouldn’t explain how internal you have $1m in retirement
Unless you inherited/won/etc. this money, but wouldn’t explain how internal you have $1m in retirement
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