Did you give up a large portion of your income in pursuit of a happier life?

[Anonymous]

Anonymous wrote:I can point to three points in my career when I made choices that sacrificed money for family/meaningful work. Looking back, I would change my decisions.

Being financially stressed in middle age when care of parents and facing college with almost no savings is miserable. Did you know you can save cash by going without health insurance for two months a year without penalty? Sucks to be me.

+1 where do you live OP?
$150k for a family doesn't go far in DC

[Anonymous]

Anonymous wrote:

Anonymous wrote:I quit my high paying job 5-6 years ago because it was miserable. Figured I would do some kind of contract work part time. As it turned out I make more money now so it worked out well financially but I was prepared to earn way less (DH earns a lot so it was wasn't that big a sacrifice).

Frankly to me having money is a plus. It buys things we like to do. It buys low financial stress. It buys debt free college educations for our kids. I like traveling and skiing and being able to do those does makes me happy. It's not about bragging rights, it's about what I enjoy. And I don't really care what people say at my funeral because I'll be dead.

+1

This thread is weird. OP will you still be able to save for college for 2 kids even after halving your income? We are a family of 5 and I know we would have to really change our spending habits and cut back a lot on the things that make life fun and enjoyable - travel, ski trips, eating out with friends/date nights, subscription theater tix, kids' extracurricular activities, expensive summer camps and saving for private college for 3 kids, etc. on 150k.

Exactly. That is us -- and it really impacted friendships.

[Anonymous]

Wondering what you mean by impacting friendships?

[Anonymous]

Anonymous wrote:Wondering what you mean by impacting friendships?

Probably that you'll have to consider your budget more - if your kids want to go to some pricey activity that their friends are doing or if your friends want to take an impromptu trip that'll cost $2500, would you be able to do that? If you opt out enough times, it affects friendships simply bc you aren't there.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I can point to three points in my career when I made choices that sacrificed money for family/meaningful work. Looking back, I would change my decisions.

Being financially stressed in middle age when care of parents and facing college with almost no savings is miserable. Did you know you can save cash by going without health insurance for two months a year without penalty? Sucks to be me.

+1 where do you live OP?
$150k for a family doesn't go far in DC

We live in Silver Spring. $150k would be pretty sweet, actually. That's twice what we grossed last year.

[Anonymous]

Yes, almost 60% pay cut leaving my job in biglaw to work for a federal agency and have more time with my baby girl (now 6!). The biglaw money was nice, but I have no regrets. Spending time, and knowing I'll be able to spend time, plan vacations, chaperone a field trip, etc. is worth the reduced income. It does help that we saved up a lot before I made this move, so we had a good cushion.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I can point to three points in my career when I made choices that sacrificed money for family/meaningful work. Looking back, I would change my decisions.

Being financially stressed in middle age when care of parents and facing college with almost no savings is miserable. Did you know you can save cash by going without health insurance for two months a year without penalty? Sucks to be me.

+1 where do you live OP?
$150k for a family doesn't go far in DC

We live in Silver Spring. $150k would be pretty sweet, actually. That's twice what we grossed last year.

I have family who live very well on that money in Germantown. They work in Rockville and Silver Spring.