Reply to Singel parent on $228K income

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[quote=Anonymous]Yeah, I don't get "I'm living paycheck to paycheck" when you are saving 30k/year on retirement. If you want more spending money, you can save less for retirement. But lots of people choose to maximize their retirement savings instead. It's a sacrifice now in order to not have to worry later.

Are you worried about retirement? It honestly sounds like you are in good shape. If you work for another 12-15 years, you are golden. You have enough money now to take vacations, spend well on food and housing for you and your kids. Who needs cable? I'm sure if you decided you really wanted cable or something else in that range, you could adjust your spending a bit to make it work. You actually have tons of wiggle room in your budget (like just take cheaper vacations one year and you can spend that money however you want without changing your retirement contributions, this isn't rocket science).

Are you worried about college costs? That's reasonable, although your kids are actually more likely to get need-based aid with a single parent who doesn't own a home, even though your income is high. How many kids do you have? Are you in DC or MD/VA? Lots of state school options in MD/VA and DC Tag will help if in DC. And, again, that's a one time cost. It's a big one, but you just have to figure it out and then it's over. How many kids do you have? When will they be in college?

I just don't see what the issue is. You have disposable income. You have allocated it according to your priorities. You are well off but not rich.[/quote]

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