House almost paid off at 40 years old/ $300K (original mortgage) and HHI of $220K

[Anonymous]

I've always felt that my peers look down at me and think we are poorer than we are because we are very conservative with our money. However, I just made another hefty payment on our mortgage and we own less than $30k on our house which is probably worth between $500-$600K. We live in the country so it's kind of hard to figure out what our house would sell for. We have 1.5M saved in retirement $200K saved for college and my kids attend private school.

My husband and I both have masters and graduated from school without debt. He is 7 years older than I am. We've worked really hard as we are both $100kish earners. We've probably received $200K in assistance from our families in adulthood (i.e. $10K in Christmas checks both sides) for the past 10 years.

I would love to tell someone IRL that our mortgage will be paid off this year but I know I can't as most of my friends/family live beyond their means.

Thrilled! Anyone else in a similar situation?

[Anonymous]

Taking $200K handouts from your families? I wouldn't be that proud of myself.

[Anonymous]

You have rich parents! Congrats! You should be proud!

:roll

[Anonymous]

Oh you only get 20k a year from your parents?

[Anonymous]

Yeah, your parental handout is half my salary. So,good for you but it didn't just happen because you work hard. You're also positioned differently than many of your peers.

[Anonymous]

Anonymous wrote:I've always felt that my peers look down at me and think we are poorer than we are because we are very conservative with our money. However, I just made another hefty payment on our mortgage and we own less than $30k on our house which is probably worth between $500-$600K. We live in the country so it's kind of hard to figure out what our house would sell for. We have 1.5M saved in retirement $200K saved for college and my kids attend private school.

My husband and I both have masters and graduated from school without debt. He is 7 years older than I am. We've worked really hard as we are both $100kish earners. We've probably received $200K in assistance from our families in adulthood (i.e. $10K in Christmas checks both sides) for the past 10 years.

I would love to tell someone IRL that our mortgage will be paid off this year but I know I can't as most of my friends/family live beyond their means.

Thrilled! Anyone else in a similar situation?

A similar situation? Like I'm a sanctimonious bitch crowing about how my family is living beyond their means, yet I'm taking their money from them?

Yeah, No, can't relate.

[Anonymous]

OP, I get it. You've made good choice AND benefitted from your parent's generosity. Good for you! Really! But your strong financial position is your reward. Why do you need pats on the back here? Why do you need to find similarly positioned people? Posting this smacks of gloating.

[Anonymous]

Who pays for the private school, I wonder?

[Anonymous]

We get 10K handouts each year too and it just goes toward keeping us afloat in these tumultuous economic times of the past 5 years. Maybe this year we can put it toward a down payment. So, err, congrats?

[Anonymous]

Your parents paid for 2/3rds of your mortgage. Congrats.

[Anonymous]

Who gets 10K checks from BOTH sets of parents? That is so foreign to me.

[Anonymous]

That is great. I don't understand your point.

[Anonymous]

We only have 25k left on our condo, but we rent it out now, does that count? It's worth 300k at least. Our current home has much more left, but what can you do with no parent help and 'only' 130k hi?

[Anonymous]

Both sets of parents are responsible. I am talking about cousins and siblings who are irresponsible. We pay for private. We paid for our graduate school too. I only mentioned the $200K because I know I can't take credit for that.

[Anonymous]

Anonymous wrote:Who gets 10K checks from BOTH sets of parents? That is so foreign to me.

People who have rich parents with smart estate plans. Also known as "not me."