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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]You are proposing to live on 48k per year. Do people do it?  Sure. But it's tough, and I bet the vast majority of them would say they would like more income. They are, and you would be, a few financial emergencies away from real trouble.

Since your only reason boils down to, "I don't wanna work anymore!"  (Join the club, sister), I'd forget this extraordinarily selfish plan and continue working until you hit a realistic number. [/quote]

But the difference is she's proposing to live on 48k/yr essentially as a retiree -- no mortgage, paying military retiree healthcare rates. That's what makes it doable.

OP -- where in NC? Why build a 750k house? You can get a whole lot of house in most of NC for like 300-350k. If you spend just 300k on a house and invest the rest, it'll grow over decades; I mean your kid is young -- you have over 10 yrs until you have to finance college, so why not make the money work for you.

Is there ANYTHING you or DH would want to do? Even part time or seasonal or a hobby job? I think the numbers do work, but at only 40, I'd feel a bit safer if there was some income coming in -- even if it was just part time retail which paid for my utilities and food. Then once you get started living this way and it works out, you could quit that job.[/quote]

My husbands parents and bro and sister in law live in Charlotte.  His bro has a son the same age as my DS. Since we are one and one I want him to be raised close to his cousin so he has a sense of family. Charlotte is also one direct flight away from my parents and by brother, sister in law, and nephew. We want to build a really nice house that is ranch style (so we can age in place) on an acre and also have a really nice pool and back yard set up so that it is a "destination" that our family and DC friends could also come and visit with their kids. After years of working, moving, and military life, it's pretty much my definition of happiness to build a custom home that is designed around kids, family, and friends. To get the school district we want,  I'm projecting 150k for the land and $500 to build. I'm not opposed to working (as part of this dream) at retail at a store I loved or teaching online or something, just to keep a little cash rolling in, but I so badly want to get off the 9-5 treadmill. [/quote]

And this is why I say it's not reasonable. You want a really nice house with a pool. The costs of buying are total guesses. Flights won't matter cause you can't afford them.

Charlottes propert tax rate is 1.28 per 100, so a property tax of $6,400 is plausible for a $650k house. Cars are gonna run about $300 a year for tag renewals. Assume 1 car.

Out of the gate property tax costs are $600 a month. 
Cell phone: + 100 (700)
Internet TV: + 100 (800)
Electrical: +150 ($950)
Hearing: +100 ($1050) 
Gas for car: + 100 ($1150)
Pool maintenance: + 100 ($1250) 
Weekly food: $200 * 4 = $800 ($2050) 
Insurance: $500 ($2550) 
Life insurance: $50 ($2600)
Clothing for 3 people, assume $400 pp a year: +100 ($2700)
Haircuts for 3, assume cheap: + $30 ($2730) 
2nd cell phone presumably for husband: + $100 ($2830) 
Home repair budget $100 ($2930)
Car insurance: $100 ($3030) 
One night out a month / dinner and a movie $100 ($3130) 
....

I could keep going but pretty simple math here - there is no budget to "entertain" family to visit, no budget to buy plane tickets to see them, no budget to throw parties or have friends over for BBQs (each of which quickly costs $50), no budget to get the kid a laptop, etc.

You envision a nice house with a pool, friends coming over, parents visiting, etc - but your budget is one where you need to stay home, try not to go out to dinner, buy all your clothes from target and lay awake at night hoping your medical premiums don't change or the water boiler doesn't need repair. Fuck that. [/quote]

She is not going to be happy going from officers wife to cutting their income and living a very basic life.  Good luck OP.  Every year congress also tries to screw over retirees pension and take away tricare from anyone working age - one of these years they will probably succeed with tricare.[/quote]

Yup. Her vision of a really nice house with a pool is dramatically mismatched with the reality of raising a family of 3 on that salary. [/quote]

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