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re: American middle class families must really not be saving any money.
Posted on 3/20/23 at 8:22 am to DiamondDog
Posted on 3/20/23 at 8:22 am to DiamondDog
quote:you're the one sending your kid to daycare because you don't make enough money for your wife to stay home
Don't have kids you can't afford and then rely on other people to take care of or cut you a deal.
1
Posted on 3/20/23 at 8:22 am to PappaSwolio
quote:
. Started asking people I work with where they send kids and almost all of them said they have a family member
This is smart.
Day care's are incredibly high because they're overregulated and subsidized. As states increased rates they would pay during Covid, day care costs exploded in many areas.
Having a family member watch the kids is far better than sending to day care.
Posted on 3/20/23 at 8:23 am to GreatLakesTiger24
quote:
you're the one sending your kid to daycare because you don't make enough money for your wife to stay home
My wife makes too much money to stay home. I make too much money to stay home.
Posted on 3/20/23 at 8:23 am to DiamondDog
quote:you know a lot of grandmothers want to do this, right?
By depending on mommy and daddy or a friend to watch your kids? I
a buddy from high school was able to go to grad school and become a baller because his wife's mom watched their baby during the day. families help each other. it's kind of the point.
Posted on 3/20/23 at 8:23 am to DiamondDog
quote:
I know several couples that are both teachers. They have private day care, drive new cars, take lavish vacations...
They may make what...100k combined?
Don't fall for the lie that teachers don't make good money. At least in Georgia... they may start around 45k, but quickly ramp up to around 70k with less days to work as well. They also have people making 150k+ in the front offices.
But put me in the category of not understanding it either. I see people that I KNOW how much they make living it up. Going to all the championship games, taking 3 week long NICE vacations. Driving new cars and boats. Just spending away like it's nothing at all. I just wonder if they did some sort of scam during covid to get money or if it's literally all just revolving credit card funded.
I don't know how anyone can be out there overspending right now with this recession bomb fixing to go off. What's really infuriating to me is scrimping and saving at the grocery store only to be behind someone with a huge buggy full of everything name brand buying $300 worth of groceries on EBT. Meanwhile my buggy is 1/3 that and I'm feeling sick at spending that much on so little. But they don't have a care or appreciation in the world about me paying for theirs.
At some point it can't go on. We're already so far detached from any real monetary policy as even a world that it's uncharted territory
Posted on 3/20/23 at 8:24 am to RogerTheShrubber
quote:
There's something to being self sufficient.
It’s also nice that some of us have family that loves us and enjoys the hell out of helping with grandkids during the week and helping to pay for vacations and such when we invite them to come along
Posted on 3/20/23 at 8:25 am to DiamondDog
Is that really middle class?
Posted on 3/20/23 at 8:26 am to JohnnyKilroy
quote:
Explain where the pretax money turns into post tax money.
He is very clearly talking about the part where you convert the trad IRA to a Roth. I don’t know why you two keep going back and forth with this game of “gotcha.”
Posted on 3/20/23 at 8:26 am to notiger1997
quote:
It’s also nice that some of us have family that loves us and enjoys the hell out of helping with grandkids during the week
Keep reading...
Posted on 3/20/23 at 8:29 am to PhiTiger1764
quote:
He is very clearly talking about the part where you convert the trad IRA to a Roth.
No where in my posts are you converting pretax trad ira funds into roth.
Posted on 3/20/23 at 8:30 am to notiger1997
handouts are great huh
Posted on 3/20/23 at 8:30 am to DiamondDog
quote:
Don't have kids you can't afford and then rely on other people to take care of or cut you a deal.
Disagree. That's always been an option. In fact, was an option prior to day care even being a thing.
Posted on 3/20/23 at 8:32 am to RogerTheShrubber
quote:
Disagree. That's always been an option. In fact, was an option prior to day care even being a thing.
I didn't know any kids that went to daycare when I was growing up.
Posted on 3/20/23 at 8:32 am to cheobode
quote:
You mean, flipping a house? My brother bought a home in Hammond for $78K back in 1995. Put about $10K into it and sold it for $225K about 10 years later. Was able to buy some property, build a metal frame home and pay off all his debt.
Yes.
Posted on 3/20/23 at 8:33 am to JohnnyKilroy
quote:
No where in my posts are you converting pretax trad ira funds into roth.
I got it bro. You empty it first. Great.
His actual question though was for you to explain how you get a funded Roth without tax penalty.
So y’all just keep going back and forth talking about different things.
Posted on 3/20/23 at 8:36 am to DiamondDog
quote:
I get envious of these people. We have no family help and will be soon paying $1500 a month in daycare cost.
Meanwhile these marginally employed local yokels get free daycare, family help, etc.
I made the right decisions to be able to afford this. I took career risks, worked hard, etc.
Meanwhile, some get it handed to them. Just no wherewithal or drive.
It's definitely a character flaw of mine I struggle with.
Pretty gross mindset to have, glad you realize that
These people aren't taking food out of your kids' mouths. I have some friends like this, and I'm not envious of them at all, I'm actually happy for them.
Posted on 3/20/23 at 8:36 am to fallguy_1978
quote:
I didn't know any kids that went to daycare when I was growing up.
Yep. There were some older ladies in the neighborhood who would do it for a few bucks a day, but most had stay at home moms.
Posted on 3/20/23 at 8:37 am to DiamondDog
quote:
My wife makes too much money to stay home. I make too much money to stay home.
That's kind of dumb. My wife quit work 10 months ago to be a stay at home mom. She was a nurse practitioner in Austin, so she produced a nice income.
Life is about sacrifices, and right now we sacrifice that income so she can raise our baby.
Posted on 3/20/23 at 8:37 am to Epic Cajun
I don't mind family help, but I'll say it's annoying as shite when I know people who have left jobs because it would push them over the entitlement line.
Posted on 3/20/23 at 8:38 am to DiamondDog
I honestly wonder how some families afford their lifestyle. One family I know in particular is baffling to me. He has a decent job, she stays home. If I had to guess, he makes around $125k per year. Two kids in high school. They have 4 cars, all fairly recent models. The oldest is his 2015ish Tundra. He has a boat. They take at least one extravagant vacation every year, and several long weekend trips. Goes to almost every Auburn football game, home and away.
I don’t know, maybe I’m underestimating his annual salary. I make a little more than that, and there’s no way I could afford that lifestyle.
I don’t know, maybe I’m underestimating his annual salary. I make a little more than that, and there’s no way I could afford that lifestyle.
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