Reply to Budget to Transition to SAHP

Forum Index » Money and Finances

Reply to "Budget to Transition to SAHP"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]Truing not to move as changing schools and losing community. Also would double commute so that is a loss.

Prob equally as foolish but what about mortgage of $3700 and makeup shortfalls by dipping into savings of $250k (cash not retirement). Plan would be to have SAH parent until kids are in HS; about ten years. Hopefully salary will increase to $130k by 2025, but SAHP could return to work.

Is this foolish? Or prudent use of savings to invest in life we want for kids?[/quote]

This would be a very foolish thing to do. By the math you've given us, you're looking at being $1,600 short each month, you will have wiped out the majority of your savings. Also, if that cash is what you'd use to pay down your mortgage and get to $2,700 a month, that's equally foolish because you're leaving yourself with no cash cushion if the working spouse loses his/her job. Also, I have to ask if your retirement is fully funded. If not, you're definitely not in any position for lose a salary right now.

Realistically, it doesn't sound like you can afford the "life [you] want for kids"while living in this area. Would you consider moving to a lower COL area?[/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