Reply to Anyone at $330K HHI have a mortgage that is $4900/month (37% of net pay / 17% of gross)?

Forum Index » Money and Finances

Reply to "Anyone at $330K HHI have a mortgage that is $4900/month (37% of net pay / 17% of gross)?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]no worries, it's obvious that grandparents are loaded (500k college fund gift!). they are banking on mad inheritance, otherwise why would he be treading water as a fed while she stays home and racks up debt? it's all play money to them, b/c in the end they'll be able to kick back. I'm guessing DW parents who have money, and DH reluctant to stretch now for bigger house hence she is trying to get a chorus of support that it is reasonable from DCUM. [/quote]

OP here.  We're definitely not banking on an inheritance.  Grandparents have made it clear that the college funds and the occasional annual gift are what we can expect to get.  We have no clue what their assets are but they live pretty frugally (except for a nice vacation each year), and neither my DH nor I realized that they had much money until they gave us the college money for the kids about 5-8 years ago.  We both grew up middle class.

DH and I would do anything to avoid asking the grandparents for money in a pinch because the grandparents would think we were pathetic because we have good educations and should be able to make enough money to support ourselves.  So that's not an option -- we really need an emergency fund.  [/quote]

PP here, then you have to really batten down and get things in line b/c acquiring 10k in credit card debt in your crazy.  You should table this house upgrade plan until you have been working a few years, have fat emergency fund, and KNOW you can live within your means.  [/quote]

Why would you need an emergency fund in the case of feds[/quote]

Fed spouse has serious illness ... uses up all sick and annual leave and goes on leave without pay ... grandparents have said they're not the emergency fund to cover that according to OP.  If Fed spouse has to quit job due to illness or disability there's no assurance of getting a disability retirement and HHI is now cut nearly in half.

That's just one of any number of scenarios that can come into play.

The credit card debt situation alone plus lack of non=retirement investment and savings is a red flag to me.[/quote]

Why do people talk about shit they don't know about?  Feds have disability once their pension is vested.   [/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