“Rich” but Broke - What can we cut?

[Anonymous]

Anonymous wrote:

Anonymous wrote:How about an au pair instead of $60,000 for childcare? If you have the space for an extra person in your house...

Au pair is not full time nanny. They work max 4-5 hours a day. You need both preschool/school and au pair

Au pairs work a max of 10 hours a day/45 hours a week.

[Anonymous]

Similar story and it’s an exhausting grind.

We make more money at 450k in salaries and 150k bonus.

The childcare, housing and car expenses kill us. At this point we can’t sell the house since we locked in such a low rate and we’d pay the same amount monthly for a smaller and not as nice house.

Whenever I get stressed I try to remember we are living paycheck to paycheck, but investing at least 100k in 401ks every year plus a similar amount in deferred stock.

I don’t know what the solution is except to keep at it. Everyone is going to say sell the house, but that won’t make us better off financially! Two in daycare is almost the same cost as a nanny.

[Anonymous]

Anonymous wrote:Hi OP, we have similar HHI and mortgage. Two kids too. Here is what we do to make room for saving and vacation:
1. Make the basement a separate rental that brings in 1800/Mo rent.
2. Bought two rental properties that bring in about 1000 cash flows after mortgage and expenses.
3. Got solar panels so electricity is zero.
4. Bought cheap but functional cars with cash.
5. Kids go to cheap church preschool and free public schools. Excellent education, and not much keeping up with Johnese.

In this way, we can max all retirement account, have nice vacations, support kids activities, and also save around 100k per year outside retirement. You can do it too.

No one in our million dollar

Solar panels are a terrible investment, everything Else looks ok

[Anonymous]

Your car payments are crazy. Why on earth did you do that?!

[Anonymous]

Haven’t read the replies. You are doing nothing wrong. It’s the cost of living in a nice house, having kids and keeping your career. People with less money can’t have all three. The mom quits or they live in a crappy housing situation or they aren’t having kids.
This is the American life today.

[Anonymous]

Anonymous wrote:Haven’t read the replies. You are doing nothing wrong. It’s the cost of living in a nice house, having kids and keeping your career. People with less money can’t have all three. The mom quits or they live in a crappy housing situation or they aren’t having kids.
This is the American life today.

Oh yes and your little luxury is driving nice cars.

[Anonymous]

Anonymous wrote:Similar story and it’s an exhausting grind.

We make more money at 450k in salaries and 150k bonus.

The childcare, housing and car expenses kill us. At this point we can’t sell the house since we locked in such a low rate and we’d pay the same amount monthly for a smaller and not as nice house.

Whenever I get stressed I try to remember we are living paycheck to paycheck, but investing at least 100k in 401ks every year plus a similar amount in deferred stock.

I don’t know what the solution is except to keep at it. Everyone is going to say sell the house, but that won’t make us better off financially! Two in daycare is almost the same cost as a nanny.

We have a different definition of living paycheck to paycheck.

[Anonymous]

Anonymous wrote:Similar story and it’s an exhausting grind.

We make more money at 450k in salaries and 150k bonus.

The childcare, housing and car expenses kill us. At this point we can’t sell the house since we locked in such a low rate and we’d pay the same amount monthly for a smaller and not as nice house.

Whenever I get stressed I try to remember we are living paycheck to paycheck, but investing at least 100k in 401ks every year plus a similar amount in deferred stock.

I don’t know what the solution is except to keep at it. Everyone is going to say sell the house, but that won’t make us better off financially! Two in daycare is almost the same cost as a nanny.

In no way, shape, or form is someone putting away over $8k a month, living “paycheck to paycheck”.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Similar story and it’s an exhausting grind.

We make more money at 450k in salaries and 150k bonus.

The childcare, housing and car expenses kill us. At this point we can’t sell the house since we locked in such a low rate and we’d pay the same amount monthly for a smaller and not as nice house.

Whenever I get stressed I try to remember we are living paycheck to paycheck, but investing at least 100k in 401ks every year plus a similar amount in deferred stock.

I don’t know what the solution is except to keep at it. Everyone is going to say sell the house, but that won’t make us better off financially! Two in daycare is almost the same cost as a nanny.

In no way, shape, or form is someone putting away over $8k a month, living “paycheck to paycheck”.

Boomers cut pensions so it's a necessary self funded pension, so it's valid

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Similar story and it’s an exhausting grind.

We make more money at 450k in salaries and 150k bonus.

The childcare, housing and car expenses kill us. At this point we can’t sell the house since we locked in such a low rate and we’d pay the same amount monthly for a smaller and not as nice house.

Whenever I get stressed I try to remember we are living paycheck to paycheck, but investing at least 100k in 401ks every year plus a similar amount in deferred stock.

I don’t know what the solution is except to keep at it. Everyone is going to say sell the house, but that won’t make us better off financially! Two in daycare is almost the same cost as a nanny.

In no way, shape, or form is someone putting away over $8k a month, living “paycheck to paycheck”.

Boomers cut pensions so it's a necessary self funded pension, so it's valid

No, it’s not. Someone making $600k and saving $200k is not living paycheck to paycheck. Not even comparable to OP.

[Anonymous]

Anonymous wrote:Similar story and it’s an exhausting grind.

We make more money at 450k in salaries and 150k bonus.

The childcare, housing and car expenses kill us. At this point we can’t sell the house since we locked in such a low rate and we’d pay the same amount monthly for a smaller and not as nice house.

Whenever I get stressed I try to remember we are living paycheck to paycheck, but investing at least 100k in 401ks every year plus a similar amount in deferred stock.

I don’t know what the solution is except to keep at it. Everyone is going to say sell the house, but that won’t make us better off financially! Two in daycare is almost the same cost as a nanny.

LOLOL Only on DCUM is someone with a. combined income of 600K saving almost 100K a year saying they live paycheck to paycheck. Oh honey, how I would love for you to spend ONE DAY living the life of someone who truly lives paycheck to paycheck.

[Anonymous]

Anonymous wrote:Similar story and it’s an exhausting grind.

We make more money at 450k in salaries and 150k bonus.

The childcare, housing and car expenses kill us. At this point we can’t sell the house since we locked in such a low rate and we’d pay the same amount monthly for a smaller and not as nice house.

Whenever I get stressed I try to remember we are living paycheck to paycheck, but investing at least 100k in 401ks every year plus a similar amount in deferred stock.

I don’t know what the solution is except to keep at it. Everyone is going to say sell the house, but that won’t make us better off financially! Two in daycare is almost the same cost as a nanny.

Poor you. Maybe you should start a Go Fund Me page for donations?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Similar story and it’s an exhausting grind.

We make more money at 450k in salaries and 150k bonus.

The childcare, housing and car expenses kill us. At this point we can’t sell the house since we locked in such a low rate and we’d pay the same amount monthly for a smaller and not as nice house.

Whenever I get stressed I try to remember we are living paycheck to paycheck, but investing at least 100k in 401ks every year plus a similar amount in deferred stock.

I don’t know what the solution is except to keep at it. Everyone is going to say sell the house, but that won’t make us better off financially! Two in daycare is almost the same cost as a nanny.

Poor you. Maybe you should start a Go Fund Me page for donations?

+1. Try the Go Fund Me, PP. I'm sure others will sympathize with your plight and throw much needed cash your way.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Similar story and it’s an exhausting grind.

We make more money at 450k in salaries and 150k bonus.

The childcare, housing and car expenses kill us. At this point we can’t sell the house since we locked in such a low rate and we’d pay the same amount monthly for a smaller and not as nice house.

Whenever I get stressed I try to remember we are living paycheck to paycheck, but investing at least 100k in 401ks every year plus a similar amount in deferred stock.

I don’t know what the solution is except to keep at it. Everyone is going to say sell the house, but that won’t make us better off financially! Two in daycare is almost the same cost as a nanny.

In no way, shape, or form is someone putting away over $8k a month, living “paycheck to paycheck”.

Boomers cut pensions so it's a necessary self funded pension, so it's valid

No, it’s not. Someone making $600k and saving $200k is not living paycheck to paycheck. Not even comparable to OP.

It's like none of these people ever worked a real job.

[Anonymous]

When I worked in a warehouse some of my colleagues would walk a couple of miles a day for the last couple of days before payday because they didn’t have enough money for the bus. That is living paycheck to paycheck.

Please don’t say you are paycheck to paycheck when you are saving $8k/month, it is insulting. Words do have some meaning.