Reply to Middle class professionals: tell me about your finances

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[quote=Anonymous]I'll bite. We're 38 & 43.

Two kids - one in K, the other is two.  So daycare went from nearly 2500 to 1700 a month in the last six months.

HHI 154. Own a very small home. 220,000 in retirement (total, includes us both).  Last student loans paid off this year (we will have paid off over 100,000 in 10 years).  We'll probably continue to increase in salary, but not dramatically. No other debt (car is 11 years old, but no plans to replace, no cc, etc.).  But also no other savings at this point.

We do have small 529s with a total of 15,000 so far.

I've been pretty stressed over our lack of retirement, but we increased contributions last year, and when we stop throwing 1500/mo at the loans later this year it should be relatively painless to start maxing one account and still increase the other a little.  We both get 7% match.

I do think if we can stay the course, that our finances/retirement will dramatically improve in a few years.

Double daycare and student loans have been killer, but when we stop paying them and the kid is out of daycare we don't have plans to increase our lifestyle and we're used to living pretty cheaply (for this area, although we are quite happy with what we have).  Luckily family is close by so we can drive to see them and parents generously pay for a beach vacation for the family every year.

But I know most people on this board would not have had two kids or bought a house with our setup 5 years ago (closer to 100 HHI and significant loans).

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