3500 mortgage 4500 live in nanny 1000 two vehicles 1600 groceries 500 529 plans 11,000 before any utilities/tuition/random bills or other shit that pops up.
I don’t have kids. When you say live in nanny, does that mean someone literally lives with you and is there 24/7? If so, do you have to cover their meals and shit or how’s that work?
Yeah, she lives in our house during the week and works 50 hours each week. She covers all her meals and whatnot, but we don’t charge her to live with us. Nor do we make her pay for gas when she’s shuttling the kids around.
my neighbor has a nanny for one little kid and gets house cleaners twice a week they live in a 1400 sqft condo. i do not understand what a house cleaner can do twice a week.
Ours does a house deep clean each Thursday. she also does our laundry, dishes, takes the kids to school and picks up, etc. Its expensive but it allows my wife to pursue her career as well and we think the return is worth it.
I’d say I’m probably somewhere around $3,300-$3,600 depending on the month. My “fixed” expenses like mortgage, car, utilities, groceries are probably $2,200-$2,400 of that, but my GF lives with me and pays me ~ $800 a month for “rent” so that covers a portion of those expenses. I usually add a little extra to the mortgage payment, and I basically make 2 car payments a month to try to pay it off ASAP. Although with my car at 2.99% and my savings now at 3.75%, maybe I should chill out on that lol
to state an obvious point % of income is a better way to look at all this. knowing what people budget in $ values is not remotely enough context to be helpful.
True. The last 4 years I've saved ~33-35% of my gross income. Spending has been ~50% of my gross income and the rest was taxes and just ended up in the bank. With company match/cash balance I save ~50% of my gross income in retirement/investment accounts.
Last year I stashed 42% of my gross income, and it still didn't feel like I was efficient enough with that number.
That’s how I am too. Sometimes I think I’d have to win the lottery or something to finally not stress myself out about money. I took a new job in September and my pay increased by just under 20%, plus there’s some bonus pay on top of that. I’m constantly debating how much more I should put into retirement/investment/HSA type accounts versus my HYSA/emergency account that feels like it’s actually “real” money lol
If I had $100 million in the bank and the next day it was $99,987,000, I would get anxiety. I'm just an odd cat like that.
I’m constantly waiting for the other shoe to drop. It’s not great to live life with that sort of anxiety.
Right. My wife thinks I should talk to a therapist about it. It doesn't allow us to appreciate what we have.
If I max my wife’s 403b we’ll be putting almost as much in retirement and HSA accounts as we grossed in our first year of working and I can’t say I feel like we’re living exceedingly differently. I don’t feel that much different at least.
Prob so. My grandma was a depression kid and we understood each other really well. The anxiety is also why I paid off all our debt. Don’t owe anyone shit besides 3 rentals. Not the best financial decision considering the interest rate we had but the stress release from it more than made up for whatever financial gain I’d get out of the deal.
My GF tells me the same thing, and all I can think about is “well…that costs money” LOL My anxiety is not limited to financial.
Idk I have a decent amount of guilt over what I make (maybe imposter syndrome?) so for me it’s the opposite. Almost feels gluttonous to make this much but that’s what the market dictates. I’m saving 80%+ annually and not really looking to earn a penny more than it takes to retire early and ride off into the sunset. If Mr Powell wants to continue to be dovish he can expedite that process for me. Although it was weird he finally was living in reality at the podium today. Gotta wonder if some data spooked them.
My dad lost his job for a while when I was a kid and didn’t have an education so my parents had to dip into my college account to pay the bills for a while. I never want to have to worry about anything even close to that bullshit for me or my kids. Also we all came of age during the Great Recession and I think that sort of had a generational imprint.
it took a while but i've worked my financial anxiety out and now we live it up, but we don't really have normal family responsibilities and job security is very strong
That's awesome. My first moment like this was the year I paid more in federal taxes than my parents made in income combined.
Dude...you're speaking to my soul. My Father is a Manufacturing Manager and has been in Manufacturing Operations his whole life. 2006-2010 he lost his job 4 times in 5 years and my parents struggled. I knew right then that I never wanted to have to worry about money or have someone else dictate my ability to earn, thus why I do what I do.
my parents hid what financial concerns and problems in general from their children like good midwesterners
In 2021 we paid federal taxes equal to what my parents' house cost Did taxes today. Feel like we're not taking full advantage of the tax code, but the Republican tax relief of 2017 really hurts people like us
they paid for the audacity but also we were upper middle class (by HS) and there was no job loss endured before i was 20. smooth sailin' for the formative years of my mom continually getting promoted and head hunted up and up.
Yeah, being between $500k-$1m household income is that perfect spot of you're in the highest tax bracket, don't qualify for any real tax breaks, and you're not quite making fuck you money.
My dad lost his job when I was 8 for several months then sold cars for 5 years from 8-13 with like 90+ hour weeks making dick for money. There’s a reason I’m a lawyer with an MBA.
I went to the really poor grade school and my best friend has a really awesome story though. Parents were 15 and 16 when he was born. Made 450k last year after he grew up in a tiny ass house to poor parents.
It can be done much more reasonably, I'm sure. Four kids in five years was kinda nuts. Maybe start with one and see how it goes :)
We moved to one of the better school districts in Ohio only for my wife to decide once we got here that she wanted our kids in private school. So we're paying the taxes for the nice public school systems, but also the tuition for their private school. Good thing I married her for her parents money.
St. Zuck delivered for me big time today. After google plus divorce crushed my trading account last year, St. Zuck only one helping me chip away from my grave. Spam me with all your Facebook ads Mark
It'll be fun when they're all in college at the same time, like our three will be next year. But with your funds you're probably maxing out all the ESAs and whatnot. edit: just saw your private school post, so you're already there
I'll be happy with 2 or 3. My girl wants more, but unless she has an onlyfans she's not telling me about, that ain't happening.