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Money and Finances
Reply to "Money Goals for Exiting Big Law"
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[quote=Anonymous]We are in a very similar situation (biglaw spouse and tech sales/marketing earning similar amounts). I try to keep the mentality that this income is temporary (while at the same time paying for conveniences we need when we are working like this). After law school we hustled to pay off all loans (graduated in the 6-8% era). Then we banked that excess for a downpayment. Now we just bank/invest it monthly (after maxing out 401ks and 529). We are 35ish with one young kid and have about $475K in retirement/529, $375k in home equity (15 year mortgage on an 800K-ish house) and $550K in liquid investments. We could probably have done better but with the hours we pulled before the kid a lot of convenience purchases have been in there too. Just sharing the above in case it is a useful benchmark for you... I agree that your liquid savings is low given your incomes. But maybe those incomes are fairly new and the cash had a different job before? [/quote]
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