Is this possible without family money?

[Anonymous]

Anonymous wrote:Your husband is correct. They can do it without family money if they aren’t contributing to 529s or saving outside of retirement.

We make around 420k HHI and what kills us is the 529 savings and savings outside of retirement. That alone is at least 4K per month just to be on track for retirement.

Truthfully someone with a SAHM isn’t necessarily that concerned with retirement. Having a spouse stay at home is one of the worst financial decisions you can make. Unless you’re loaded not contributing to a retirement plan for years really hurts.

How do 529's kill you at that salary? We make less than half and comfortably put into 529's.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Your husband is correct. They can do it without family money if they aren’t contributing to 529s or saving outside of retirement.

We make around 420k HHI and what kills us is the 529 savings and savings outside of retirement. That alone is at least 4K per month just to be on track for retirement.

Truthfully someone with a SAHM isn’t necessarily that concerned with retirement. Having a spouse stay at home is one of the worst financial decisions you can make. Unless you’re loaded not contributing to a retirement plan for years really hurts.

How do 529's kill you at that salary? We make less than half and comfortably put into 529's.

m

We need to invest 2k outside of retirement and $1,200 per child into 529s. Each month. That extra 3k would buy us a much nicer home if we could instead use the monthly income towards a more expensive mortgage.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Your husband is correct. They can do it without family money if they aren’t contributing to 529s or saving outside of retirement.

We make around 420k HHI and what kills us is the 529 savings and savings outside of retirement. That alone is at least 4K per month just to be on track for retirement.

Truthfully someone with a SAHM isn’t necessarily that concerned with retirement. Having a spouse stay at home is one of the worst financial decisions you can make. Unless you’re loaded not contributing to a retirement plan for years really hurts.

How do 529's kill you at that salary? We make less than half and comfortably put into 529's.

m

We need to invest 2k outside of retirement and $1,200 per child into 529s. Each month. That extra 3k would buy us a much nicer home if we could instead use the monthly income towards a more expensive mortgage.

OP here. We save this much too. And my husband insisted on a 15 year mortgage.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Your husband is correct. They can do it without family money if they aren’t contributing to 529s or saving outside of retirement.

We make around 420k HHI and what kills us is the 529 savings and savings outside of retirement. That alone is at least 4K per month just to be on track for retirement.

Truthfully someone with a SAHM isn’t necessarily that concerned with retirement. Having a spouse stay at home is one of the worst financial decisions you can make. Unless you’re loaded not contributing to a retirement plan for years really hurts.

How do 529's kill you at that salary? We make less than half and comfortably put into 529's.

m

We need to invest 2k outside of retirement and $1,200 per child into 529s. Each month. That extra 3k would buy us a much nicer home if we could instead use the monthly income towards a more expensive mortgage.

OP here. We save this much too. And my husband insisted on a 15 year mortgage.

Well there you go. That’s why you don’t have a $1.6 mm home. Your husband has prioritized savings. Nothing wrong with that. Especially if you’d like to retire and you don’t have large inheritances coming.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Your husband is correct. They can do it without family money if they aren’t contributing to 529s or saving outside of retirement.

We make around 420k HHI and what kills us is the 529 savings and savings outside of retirement. That alone is at least 4K per month just to be on track for retirement.

Truthfully someone with a SAHM isn’t necessarily that concerned with retirement. Having a spouse stay at home is one of the worst financial decisions you can make. Unless you’re loaded not contributing to a retirement plan for years really hurts.

How do 529's kill you at that salary? We make less than half and comfortably put into 529's.

m

We need to invest 2k outside of retirement and $1,200 per child into 529s. Each month. That extra 3k would buy us a much nicer home if we could instead use the monthly income towards a more expensive mortgage.

OP here. We save this much too. And my husband insisted on a 15 year mortgage.

Well there you go. That’s why you don’t have a $1.6 mm home. Your husband has prioritized savings. Nothing wrong with that. Especially if you’d like to retire and you don’t have large inheritances coming.

Nothing wrong except I get really envious of people with $1.6M houses!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Your husband is correct. They can do it without family money if they aren’t contributing to 529s or saving outside of retirement.

We make around 420k HHI and what kills us is the 529 savings and savings outside of retirement. That alone is at least 4K per month just to be on track for retirement.

Truthfully someone with a SAHM isn’t necessarily that concerned with retirement. Having a spouse stay at home is one of the worst financial decisions you can make. Unless you’re loaded not contributing to a retirement plan for years really hurts.

How do 529's kill you at that salary? We make less than half and comfortably put into 529's.

m

We need to invest 2k outside of retirement and $1,200 per child into 529s. Each month. That extra 3k would buy us a much nicer home if we could instead use the monthly income towards a more expensive mortgage.

OP here. We save this much too. And my husband insisted on a 15 year mortgage.

Well there you go. That’s why you don’t have a $1.6 mm home. Your husband has prioritized savings. Nothing wrong with that. Especially if you’d like to retire and you don’t have large inheritances coming.

OP, in ten years you will have a nice chunk of money saved in numerous accounts, while your friend will have a nice pretty house to have parties in without much else (but who knows how much inheritance they are expecting). Your DH sounds smart.

Now stop counting other peoples' money and get to cleaning.

[Anonymous]

I wanted an expensive house and DH didn’t think we could afford it so I switched jobs so I could make more money. If you want something figure out a way to make it happen.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Your husband is correct. They can do it without family money if they aren’t contributing to 529s or saving outside of retirement.

We make around 420k HHI and what kills us is the 529 savings and savings outside of retirement. That alone is at least 4K per month just to be on track for retirement.

Truthfully someone with a SAHM isn’t necessarily that concerned with retirement. Having a spouse stay at home is one of the worst financial decisions you can make. Unless you’re loaded not contributing to a retirement plan for years really hurts.

How do 529's kill you at that salary? We make less than half and comfortably put into 529's.

m

We need to invest 2k outside of retirement and $1,200 per child into 529s. Each month. That extra 3k would buy us a much nicer home if we could instead use the monthly income towards a more expensive mortgage.

You don't need to, you choose to and on that kind of income, that should not be a problem. Something is off if on that income you feel stretched.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Your husband is correct. They can do it without family money if they aren’t contributing to 529s or saving outside of retirement.

We make around 420k HHI and what kills us is the 529 savings and savings outside of retirement. That alone is at least 4K per month just to be on track for retirement.

Truthfully someone with a SAHM isn’t necessarily that concerned with retirement. Having a spouse stay at home is one of the worst financial decisions you can make. Unless you’re loaded not contributing to a retirement plan for years really hurts.

How do 529's kill you at that salary? We make less than half and comfortably put into 529's.

m

We need to invest 2k outside of retirement and $1,200 per child into 529s. Each month. That extra 3k would buy us a much nicer home if we could instead use the monthly income towards a more expensive mortgage.

OP here. We save this much too. And my husband insisted on a 15 year mortgage.

We have a 15 year mortgage. Its smart not to pay all that interest. When we refinanced our payment difference was $100.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Your husband is correct. They can do it without family money if they aren’t contributing to 529s or saving outside of retirement.

We make around 420k HHI and what kills us is the 529 savings and savings outside of retirement. That alone is at least 4K per month just to be on track for retirement.

Truthfully someone with a SAHM isn’t necessarily that concerned with retirement. Having a spouse stay at home is one of the worst financial decisions you can make. Unless you’re loaded not contributing to a retirement plan for years really hurts.

How do 529's kill you at that salary? We make less than half and comfortably put into 529's.

m

We need to invest 2k outside of retirement and $1,200 per child into 529s. Each month. That extra 3k would buy us a much nicer home if we could instead use the monthly income towards a more expensive mortgage.

You don't need to, you choose to and on that kind of income, that should not be a problem. Something is off if on that income you feel stretched.

x1000. how many times do we have to have this conversation?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Your husband is correct. They can do it without family money if they aren’t contributing to 529s or saving outside of retirement.

We make around 420k HHI and what kills us is the 529 savings and savings outside of retirement. That alone is at least 4K per month just to be on track for retirement.

Truthfully someone with a SAHM isn’t necessarily that concerned with retirement. Having a spouse stay at home is one of the worst financial decisions you can make. Unless you’re loaded not contributing to a retirement plan for years really hurts.

How do 529's kill you at that salary? We make less than half and comfortably put into 529's.

m

We need to invest 2k outside of retirement and $1,200 per child into 529s. Each month. That extra 3k would buy us a much nicer home if we could instead use the monthly income towards a more expensive mortgage.

You don't need to, you choose to and on that kind of income, that should not be a problem. Something is off if on that income you feel stretched.

I never said this! I simply can’t own a $1.6 million house AND invest thousands each month.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Your husband is correct. They can do it without family money if they aren’t contributing to 529s or saving outside of retirement.

We make around 420k HHI and what kills us is the 529 savings and savings outside of retirement. That alone is at least 4K per month just to be on track for retirement.

Truthfully someone with a SAHM isn’t necessarily that concerned with retirement. Having a spouse stay at home is one of the worst financial decisions you can make. Unless you’re loaded not contributing to a retirement plan for years really hurts.

How do 529's kill you at that salary? We make less than half and comfortably put into 529's.

m

We need to invest 2k outside of retirement and $1,200 per child into 529s. Each month. That extra 3k would buy us a much nicer home if we could instead use the monthly income towards a more expensive mortgage.

OP here. We save this much too. And my husband insisted on a 15 year mortgage.

Well there you go. That’s why you don’t have a $1.6 mm home. Your husband has prioritized savings. Nothing wrong with that. Especially if you’d like to retire and you don’t have large inheritances coming.

OP, in ten years you will have a nice chunk of money saved in numerous accounts, while your friend will have a nice pretty house to have parties in without much else (but who knows how much inheritance they are expecting). Your DH sounds smart.

Now stop counting other peoples' money and get to cleaning.

This. The money will keep growing. Then go and buy your expensive home while your money continues to grow.

[Anonymous]

Holy crap. We are both senior associates with a $500k house. To each their own I guess.

[Anonymous]

OP, you need to ask her yourself. Ask her if there are any inheritances, investments, family gifts, rich relatives, and so forth. This is what friends do, they pry relentlessly. Not.

[Anonymous]

Anonymous wrote:OP here. So are people guessing large downpayment or mammoth mortgage?

If they put 20% on 1.6mil that's 320k. You realize that's like 2-3 years of bonuses if he's 6-7th yr+ associate right? Sorry you're jealous.