Reply to Networth Doesn't Mean Much in DC it seems

Forum Index » Money and Finances

Reply to "Networth Doesn't Mean Much in DC it seems"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]DH and I are fiscally conservative and [b]try to save as much as possible. [/b] We are 40 years old and work hard.  Our HHI is about 300K and networth is about $2 million.  [b]Yet we don't live that lifestyle.[/b]  It feels in DC it doesn't go far at all.  We have a cleaning service that comes in once a month.  We go out to eat at mom and pop restaurants (so nothing fancy).  We drive and Corolla (3 years old) and Sienna (9 years old).  I still worry a lot about funding kids 529s.  We have 2 kids that will be heading to college in about 9 years and so far we have only been able to fund about $67k in total (for both kids).  There is no way that we will be able to pay for the kids college fully. On paper we looks good.

Mutual Funds $207k
Retirement $710k
529 $67K
Cash $55k
Property $1million (net of loans)

So why do I feel like we have to think about every dollar that we spend all the time?  Am I worrying for nothing?  Should I worry more?

We have 3 properties (2 rentals and 1 main).  The rental properties are paid off and our house has a 15 year mortgage.  It should be paid off by the time the kids are in their second year of college.  But I still don't feel that we are in a good enough position.

We do go a couple of vacations a year.  Nothing fancy.  Just rent a beach house or do a road trip.

I guess I am looking for advice and maybe someone can just tell me that I am worrying too much.  Or else let me know if I am not saving enough.

[/quote]

"that lifestyle" is a lifestyle of people who do not save all their money. you cannot be "saving as much as possible" and, at the same time, live large, consume some luxuries (luxury cars, vacations, food, clothing...). this has nothing to do with DC. either you want to save "as much as possible", which means, by definition, not spending on any luxuries (because they are never a necessity no matter the income), or, you want to live a wealthy lifestyle, which means that you will need to spend some of your money on luxuries and therefore won't be "saving as much as possible". you can not possibly do both, even if your HHI was 3 mil and you lived in middle of nowhere.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics