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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]

Yes, paid off house. We don't do the 401k because we're teachers, so we do IRAs and mutual funds. We do use the 4% rule but have far less than 500k. However, it's growing, and we do have enough to keep the house and keep ourselves fed. :D[/quote]

How'd you get your house paid off by your early 30's on teacher salaries?

You must have a house with a pretty low property tax if "far less" than $20K can cover your property tax, utilities/basic expenses, and food! And it sounded like you had at least one kid. Good for you though, totally goes to the point of keeping expenses low. Do you live around DC? If you're teachers, I assume you're paying into some sort of pension beyond just IRAs (unless private)? [/quote]

We're not in DC; we're in a lower COL area. We bought a house that was 2x HHI based on one of our incomes and then combined that with aggressive repayment and freelancing and knocked it out in our 20s. We've got 2 kids and property taxes are around 4k/yr. Utilities are somewhere around 300/mo on average, and we could definitely trim food to 300 or less. We do pay into a pension, but we have no faith in it continuing to be available (there'll be something, but we think it'll be turned into a 401k after being decimated continually over the years), so our plans are independent of it. Despite that, social security is either completely inaccessible to us or will be severely reduced because of the pension that may or may not exist. Oh well. Thank you for your kind words. And yes, we'd like 1-2 more kids, which is a big part of why we continue to work (babies cost us around 2-3k with our health insurance...).[/quote]

Sorry, need to clarify...we'd need to trim utilities and food to about 300/mo combined. That would be hard, but doable. [/quote]

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