New Money Diary in DC - $248k/year

[Anonymous]

Anonymous wrote:

Anonymous wrote:They have no interest in saving and investing themselves.They spend most of their money and what they get from the parents. I learned nothing unfortunately.
I love money stories when I can learn or use something.

What are you talking about? They have hundreds of thousands saved in 401k and a large inheritance coming. She decided she wants a low stress life with an only child.

A low-stress life generally means someone who doesn’t want responsibility and prefers to be selfish and self-indulgent. I have a problem with kids who don’t want to grow up. She’s able to do this because her parents continue to help her, which is just a privilege. Too bad she didn’t earn her leisure.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:They have no interest in saving and investing themselves.They spend most of their money and what they get from the parents. I learned nothing unfortunately.
I love money stories when I can learn or use something.

What are you talking about? They have hundreds of thousands saved in 401k and a large inheritance coming. She decided she wants a low stress life with an only child.

A low-stress life generally means someone who doesn’t want responsibility and prefers to be selfish and self-indulgent. I have a problem with kids who don’t want to grow up. She’s able to do this because her parents continue to help her, which is just a privilege. Too bad she didn’t earn her leisure.

Too bad for whom?

[Anonymous]

I was stunned at the lack of work focus. On Friday, she essentially didn’t work. Most other days she had a few late morning meetings, answered a few emails, etc., but mostly did random stuff about the house. I kept thinking that she was practically retired.

[Anonymous]

Sounds like I am in the minority, but I really enjoyed reading this. It seems like the author and her DH have cobbled together a nice, low-stress life for their family, albeit with a lot of parental help most of us don’t have. Their retirement savings are impressive for their ages and salaries. It is remarkable how little work she seems to do in a standard work day—nice work if you can get it.

I’m not surprised they sold their house and opted for condo life. The author mentions she has ADHD, but her constant cleaning and organizing makes me wonder if she has some OCD tendencies as well. A house plus children can drive obsessive people insane.

[Anonymous]

Anonymous wrote:I want to do it! I have a story like no other.

Go ahead and post your version here! It would be fun to read similar weekly activity and spending breakdowns from fellow DCUMers.

[Anonymous]

I think it was smart of her to get a condo and stop at one kid rather than giving in to pressures to have a bigger house or more kids if she has ADHD.

[Anonymous]

Anonymous wrote:They have no interest in saving and investing themselves.They spend most of their money and what they get from the parents. I learned nothing unfortunately.
I love money stories when I can learn or use something.

Right?? Our salaries are nearly identical to theirs and we save more than twice in retirement as they do. I don't want to be a burden to my kids, and I want to be comfy in retirement.

[Anonymous]

Anonymous wrote:I was stunned at the lack of work focus. On Friday, she essentially didn’t work. Most other days she had a few late morning meetings, answered a few emails, etc., but mostly did random stuff about the house. I kept thinking that she was practically retired.

This is why they're making everyone go to the office

[Anonymous]

Anonymous wrote:

Anonymous wrote:They have no interest in saving and investing themselves.They spend most of their money and what they get from the parents. I learned nothing unfortunately.
I love money stories when I can learn or use something.

Right?? Our salaries are nearly identical to theirs and we save more than twice in retirement as they do. I don't want to be a burden to my kids, and I want to be comfy in retirement.

They won’t be. Clearly, their parents help them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:They have no interest in saving and investing themselves.They spend most of their money and what they get from the parents. I learned nothing unfortunately.
I love money stories when I can learn or use something.

What are you talking about? They have hundreds of thousands saved in 401k and a large inheritance coming. She decided she wants a low stress life with an only child.

A low-stress life generally means someone who doesn’t want responsibility and prefers to be selfish and self-indulgent. I have a problem with kids who don’t want to grow up. She’s able to do this because her parents continue to help her, which is just a privilege. Too bad she didn’t earn her leisure.

Too bad for whom?

Ultimately, for her. In the article, she declares that she isn’t financially independent, before mentioning all the ways she has received and continues to receive family financial help.

Will she always think about her success as a privilege received instead of a earned? When she receives her inheritance, will she know enough about finances to invest and spend it wisely for the long term?

There’s the old saying that a fool and his money is soon parted? Not saying she’s a fool, but if someone repeatedly receives largesse, has not experienced the work it takes to generate a large nest egg, and has lived a life of indulgence all adulthood, in the future, reality might bite.

[Anonymous]

Anonymous wrote:I think it was smart of her to get a condo and stop at one kid rather than giving in to pressures to have a bigger house or more kids if she has ADHD.

Agreed. The condo seems much more suitable for their lifestyle and abilities (or lack thereof).

Way too many people are obsessed with owning a SFH if they have a kid.

[Anonymous]

Anonymous wrote:Was Wegovy factored into her daily expenses? And who pays $40 for that many streaming services??? I feel like they did not actually account for all costs.

And utilities are included but they still pay for internet? Agree the condo fees are nuts.

We get so many "free" streaming services with our T-Mobile plan and our credit cards: Netflix, Hulu, Paramount+, Peacock, Apple TV. We get a monthly bill credit for HBO, NYTimes, and WSJ.

The only streaming service for which we pay out of pocket is Sling TV, which is $52/month.

[Anonymous]

They sounds like they are making some questionable choices there.

[Anonymous]

those condo fees are wild, also what is public policy sounds like a bs job that will go away in the future or be paid so low that ai doesn't touch it

[Anonymous]

Wow. Is this how DCUMs live? I am a low income teacher single parent and while I read DCUMs for more practical advice, sometimes I read other forums like this. Here's a few things that stood out to me:

1) No wonder nobody wants to return to the office. She barely worked!

2) No wonder parents at my school email ALL OF THE TIME. I wondered how they had so much free time and now I know.

3) So she is on some kind of weight loss drug, right? Aren't you supposed to eat right even when you are on those? She's constantly eating and drinking. No wonder she needs to lose weight.

4) I was surprised at how much help the parents gave for the house/car. Is that typical? My parents mostly paid for my college although I took out the max in loans too but they surely didn't give me money for anything else.

5) It would be interesting to read how someone in the lower income brackets make ends meet. It seems to me that all she did is spend money!