What’s the e best financial decision you’ve ever made?

[Anonymous]

Choosing a major with a lot of career potential.

[Anonymous]

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Anonymous wrote:

Anonymous wrote:Having only one child
Moving from Northeast to Dallas area, no state income tax and the weather is way better.

Except you have to live in Texas. Let's hope your child isn't a girl who gets herself in trouble some day.

Also, Dallas weather is not so great. It's generally about ten degrees hotter which may be nicer in the winter but brutal in the spring and summer.

In total agreement. I'm a native Texan and it's so hot from June through September, that your skin actually hurts to be outside. It stays hot so long, that we couldn't dress the kids in fun costumes for Halloween because they'd sweat in them. It's flat and ugly for as far as the eye can see, interrupted by strip malls and billboards and short scrubby trees. Forget it. Give me 4 seasons with a mild winter like DC has, with a rolling landscape, rivers, and woods.

[Anonymous]

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Anonymous wrote:I don't view marrying or how many kids you have as being "financial decisions." Silly and wholly unhelpful answers. OP's question is what decisions did you make with your money?

The best decisions that we made with our money were (1) to fully fund retirement accounts from the start and aggressively and (2) take advantage of the DC area's top public school and state university systems and not throw your money away on private schools.

Then you don't understand how life decisions impact your bottom line. You're either young or stupid.

Not only am I neither of those things, I'm also rich.

All I'm saying is that I don't think that's what OP was asking.

Sure you are, my friend. I believe you.

There's one troll who is going through every thread today on an angry projecting tirade. She is not rich, enlightened, open-minded. I also doubt she has kids. If she does, they def don't love her.

OP's question is posted in the "money and finance" section. It isn't "trolling" to interpret OP's post as seeking advice relating to actual financial decisions.

So many of you are coming off as 1950s housewives. Marry well? Really? It's embarrassing.

Actually “marrying well” is definitely part of the equation when discussing best financial decisions. It’s not, however, to mean marry for money. Instead, it’s meant to be select a long-term good partner. If you don’t, it will be expensive in the long run. Ever hear of picking a bad business partner?? Same with life partner, if you put into a financial context…

And this is why men still rule the world. They're out there making the actual financial decisions that bring in the money, while women are interpreting questions like -- what's the best financial decision you ever made? -- to mean find yourself the right husband.

If you can't see the difference, well, you're thinking like a very traditional woman.

Uh, I said marry well and I'm a man. That nore like 1850s than 1950s but it's still true. Money marries money!

[Anonymous]

Anonymous wrote:I woould love to see everyone who posted above also now post "the worst financial decisions you've ever made?"

Divorce... kind of the opposite of marrying the right spouse, but it's so expensive

[Anonymous]

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Anonymous wrote:My husband was able to become a big law partner because he married me. He will be the first to tell you this, and tells everyone we know this. So for him, a man, marrying me was definitely a good financial decision.

Marrying him was ironically not my best financial decision. He never expected to make partner when we met and wanted to leave law (something I supported). Mine was investing in real estate in a city that took off.

This is so not true. There are many, many married associates with wonderful and supportive spouses who don't make partner. Your husband made partner because he had the goods. Give him some credit.

You are misunderstanding my point. This has nothing to do with other people and their lives. If my husband hadn't married me, he wouldn't have made partner. Our marriage helped his particular trajectory, for a variety of reasons. It's not like marrying me would have made those other associated partner. I'm not magic.

Unless you sent him a big book of business, or did his work for him, or blackmailed the partnership committee with compromising photos or information, your "help" was no different in kind or amount than any other good spouse.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I don't view marrying or how many kids you have as being "financial decisions." Silly and wholly unhelpful answers. OP's question is what decisions did you make with your money?

The best decisions that we made with our money were (1) to fully fund retirement accounts from the start and aggressively and (2) take advantage of the DC area's top public school and state university systems and not throw your money away on private schools.

Well, I was going to say marrying my spouse, but PP is probably right. Our best financial decision was delaying our first home purchase until after the 2008/09 housing market implosion. That and living well within our means, maximizing savings/investments and not letting lifestyle creep get out of control.

But was waiting to buy until after the implosion an actual decision that you took -- in other words, did you see it coming and decide to hold off -- or was your timing just, well, luck?

PP here -- all credit to my spouse. (See? Marrying him really was the best.) He saw it coming and convinced me to keep renting and save for a bigger down payment. We ended up buying in a neighborhood we didn't think we could afford previously in 2010.

[Anonymous]

Anonymous wrote:- going to the undergrad that offered a full ride, even though it wasn't my "top choice" or particularly prestigious
- going to the best law school I got into, even though it was expensive
- buying a house before we really "needed" a house - in the five years since we've moved in it's appreciated 40%. We could technically afford it now, but it would be affording it in the "tell me this is okay DCUM" sense, not the very comfortable PITI we have now
- taking over finances and saving 40% of our income. DH isn't interested in finance, and he's not a wastrel, but if he knew how much we make we would not save as much as we do.

Your husband doesn't know how much you make? What a weird relationship. I swear, so many women here neuter their husbands and then wonder 10 years down the road why their marriages fell apart.

[Anonymous]

Bought a small condo when I was 30. I just sold it for three times what I paid for it.

[Anonymous]

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Anonymous wrote:Marrying my spouse.

+1 same here. My wife supercharged my capabilities. Without her, I would be some IT grunt making the average grunt salary.

I'm the PP. +1 to my own post. Seriously, one of the top 3 lessons for my kids is choosing carefully when you marry - there are many, many benefits, including financial. And no, i didn't marry someone rich, just someone prudent.

+1
My spouse supported my career like I supported his. He was open to changing his career entirely when a lucrative offer came my way as I gave up opportunities for his early out of grad school. A year after this he quadrupled his salary. We have an egalitarian marriage when it comes to kids and home. Literally, we have a schedule so everyone gets individual time with mom and dad, we both get the same opportunity to exercise and socialize. We make collective decisions about what needs to be outsourced (this has changed through the years). We have a lunch date to discuss financial goals once a month, which for me includes spreadsheets, charts, and graphs. I'm of the mindset 'show me your budget and I'll tell you what your values are'... we value our family, kids, and recreation. We are beginning to show our oldest the "household books" so she recieves a financial education (why can't they teach this stuff at school - it's not rocket science). Basically we make sure that we are always on the same page about priorities, which requires many ongoing discussions.

You sound very smug. Do you have any friends IRL?

[Anonymous]

Anonymous wrote:I woould love to see everyone who posted above also now post "the worst financial decisions you've ever made?"

Just being steady eddy with investments. I dont trade options or crypto

[Anonymous]

Anonymous wrote:My husband was able to become a big law partner because he married me. He will be the first to tell you this, and tells everyone we know this. So for him, a man, marrying me was definitely a good financial decision.

Marrying him was ironically not my best financial decision. He never expected to make partner when we met and wanted to leave law (something I supported). Mine was investing in real estate in a city that took off.

Oh God, the SAHM brigade has arrived…

[Anonymous]

Came here looking for tips to invest/save well. All I’m seeing is people bragging about who they married.

[Anonymous]

Max out 401,Ks, invest bonuses, modest cars (lightly used cars are the best), pay for less house in a great location and stay put in house - our mortgage is low but taxes are sky high now - glad we are not house poor because we paid for a huge renovation in cash, save for college early, teach kids to select colleges with the long plan in mind - choosing state schools and merit aid ensured we could get both kids through top Law and Business schools debt free - it feels pretty good to have a 24 year old making a starting salary of 225 K debt free. Our kids have the opportunity to be better off than us because of the choices we made - kinda proud of that.

[Anonymous]

Ha, I wonder what my DH would say about me? Some of you seem to think your wife helped you make more money.
Both SIL and I told our husbands (sister of my DH) that this is nuts earning some 30K per year in the early 90s.
DH got a job and is earning way more than that, so me pushing was financially a good idea, not sure if emotionally it was/ is that great.
SIL is divorced, and he earns rich man's cash now.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Marrying my spouse.

+1 same here. My wife supercharged my capabilities. Without her, I would be some IT grunt making the average grunt salary.

I'm the PP. +1 to my own post. Seriously, one of the top 3 lessons for my kids is choosing carefully when you marry - there are many, many benefits, including financial. And no, i didn't marry someone rich, just someone prudent.

+1
My spouse supported my career like I supported his. He was open to changing his career entirely when a lucrative offer came my way as I gave up opportunities for his early out of grad school. A year after this he quadrupled his salary. We have an egalitarian marriage when it comes to kids and home. Literally, we have a schedule so everyone gets individual time with mom and dad, we both get the same opportunity to exercise and socialize. We make collective decisions about what needs to be outsourced (this has changed through the years). We have a lunch date to discuss financial goals once a month, which for me includes spreadsheets, charts, and graphs. I'm of the mindset 'show me your budget and I'll tell you what your values are'... we value our family, kids, and recreation. We are beginning to show our oldest the "household books" so she recieves a financial education (why can't they teach this stuff at school - it's not rocket science). Basically we make sure that we are always on the same page about priorities, which requires many ongoing discussions.

You sound very smug. Do you have any friends IRL?

Yep, smug and friendless. You got me! Does it make you feel better about yourself hurling insults anonymously online. What's the point? Troll!