Reply to Networth Doesn't Mean Much in DC it seems

Forum Index » Money and Finances

Reply to "Networth Doesn't Mean Much in DC it seems"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous]DH and I are fiscally conservative and try to save as much as possible.  We are 40 years old and work hard.  Our HHI is about 300K and networth is about $2 million.  Yet we don't live that lifestyle.  It feels in DC it doesn't go far at all.  We have a cleaning service that comes in once a month.  We go out to eat at mom and pop restaurants (so nothing fancy).  We drive and Corolla (3 years old) and Sienna (9 years old).  I still worry a lot about funding kids 529s.  We have 2 kids that will be heading to college in about 9 years and so far we have only been able to fund about $67k in total (for both kids).  There is no way that we will be able to pay for the kids college fully. On paper we looks good.

Mutual Funds $207k
Retirement $710k
529 $67K
Cash $55k
Property $1million (net of loans)

So why do I feel like we have to think about every dollar that we spend all the time?  Am I worrying for nothing?  Should I worry more?

We have 3 properties (2 rentals and 1 main).  The rental properties are paid off and our house has a 15 year mortgage.  It should be paid off by the time the kids are in their second year of college.  But I still don't feel that we are in a good enough position.

We do go a couple of vacations a year.  Nothing fancy.  Just rent a beach house or do a road trip.

I guess I am looking for advice and maybe someone can just tell me that I am worrying too much.  Or else let me know if I am not saving enough.

[/quote]

OP, The property line-item sticks out like a sore thumb.  We need more $ breakdown on that: details of home values and mortgages, and cash-flow details on the rentals.[/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