Anonymous wrote:

Anonymous wrote:I was stunned at the lack of work focus. On Friday, she essentially didn’t work. Most other days she had a few late morning meetings, answered a few emails, etc., but mostly did random stuff about the house. I kept thinking that she was practically retired.

This is why they're making everyone go to the office

Oh, my child, people who don't want to work can slack off at home or in an office.

On private school: "I had a lot of feelings about sending my child to private school (I did public for my K12 education), but I’ve gotten to the point where I know it was the right decision for F. now and down the road."

Oh, spare us. If you want to do private because you have a certain self-image, just do it. Let's not pretend that at age 6, you know with certainty not only that it's right for your kid now, but that it will definitely be the right thing forever. You like being part of a certain set of people but you can't even admit that to yourself so you have to blame it on your kid's needs.

Anonymous wrote:Was Wegovy factored into her daily expenses? And who pays $40 for that many streaming services??? I feel like they did not actually account for all costs.

And utilities are included but they still pay for internet? Agree the condo fees are nuts.

That was my initial thought, too. Based on the rest of the article, I bet mommy and daddy pay for her streaming services.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I want to do it! I have a story like no other.

Go ahead and post your version here! It would be fun to read similar weekly activity and spending breakdowns from fellow DCUMers.

+1 Post your story! I love reading these.

I do too and I really learn a lot. Not everyone has savings tips but I appreciate reading about how other people live.

Anonymous wrote:

Anonymous wrote:They have no interest in saving and investing themselves.They spend most of their money and what they get from the parents. I learned nothing unfortunately.
I love money stories when I can learn or use something.

What are you talking about? They have hundreds of thousands saved in 401k and a large inheritance coming. She decided she wants a low stress life with an only child.

She thinks she has a large inheritance coming but she has no idea if it will be large and when she will get it. It’s quite possible her parents could live for 30 years if they’re late 60s now (if they had her at 28 they would be 67) in which case the OP will be 69 when she receives whatever is left of her inheritance. Unless she has a trust or a pension, she needs a better plan.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I want to do it! I have a story like no other.

Go ahead and post your version here! It would be fun to read similar weekly activity and spending breakdowns from fellow DCUMers.

+1 Post your story! I love reading these.

I'm a foreigner and can't string two sentences together to save my life. Mine would NOT be about spending money, but rather saving month to month. Latest save - DC hasn't even started college yet, but has 30 credits already. Wish I had planned it, but I stayed out of his schooling. The kid missed 30 days of school and still got the credits transferred. Got to love DCPS.
I have about 100 more money tips that helped me go from poor to UMC. I skipped MC. I enjoy saving money. I'm plenty happy about the silliest things like my crystal drinking classes that cost me next to nothing, or empanadas and alfajores once a month.
I went back to her story, but all this spending made me dizzy. My life is simple - walks, gym, pool, friends, and a very part time job just to get me out of the house. I don't go to every coffee shop as it's free for me at work. So is food and booze.
I made minimum wage my whole life. My money skills allowed me to survive on minimum wage in DC. I did retire at 46, but work a little to help out.
I don't have most expenses she has. I don't even have a tax expense, or rather, I get more back than I pay.
Love this quote: "My goal is no longer to get more done but rather to have less to do." Francine Jay.

Anonymous wrote:

Anonymous wrote:248k is nothing.

Totally depends on context. We retired early and live on that amount almost exactly and are living like royalty. Two very nice homes, travel, restaurants, treating the kids and grandkids to lots and lots etc.

When you don’t have childcare expenses, college expenses and don’t even have to worry about saving for retirement anymore because you’re already there it’s amazing how far money goes. Of course, the downside is that you’re that much closer to death lol.

The OP is counting on her parents dying so she can inherit enough money to pay for her child’s college. She really needs to speak to her parents about their estate planning and open up a 529. Her child is going into first grade and is like 11.5 years away from applying to college. There is a chance her parents could live for 13-16 more years. If they’re 90 then it’s unlikely, but if they’re 73 then she shouldn’t count on them dying in the next 12 years. And the OP shouldn’t be counting on her parents for her retirement either!

1) seems like they're quite comfortable with their life of consumption and minimal effort
2) this reads like the kind of fodder executives will use as justifications for RTO (see! they're all just doing laundry and going to yoga!)

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:They have no interest in saving and investing themselves.They spend most of their money and what they get from the parents. I learned nothing unfortunately.
I love money stories when I can learn or use something.

What are you talking about? They have hundreds of thousands saved in 401k and a large inheritance coming. She decided she wants a low stress life with an only child.

A low-stress life generally means someone who doesn’t want responsibility and prefers to be selfish and self-indulgent. I have a problem with kids who don’t want to grow up. She’s able to do this because her parents continue to help her, which is just a privilege. Too bad she didn’t earn her leisure.

Too bad for whom?

Well for this person and her family it could be a little problematic. No one should count on an inheritance. Her parents could live until 99 and spend most of their resources on elder care in the last two decades of life. They may have lots of outstanding debts or spend lavishly giving the impression of wealth without actually having robust savings.

I do not think OP’s parents are super wealthy. They aren’t giving OP and her husband the max amount annually or paying their child’s entire private school tuition or even the entire reduced tuition. Most wealthy grandparents just pay the tuition instead of having their children apply for financial aid and they put money into a 529 or create a trust for their grandchild’s college education. Is their grandchild’s college tuition on their radar? If OP’s parents are alive in a decade and she broaches the topic of them paying $600K for her child’s college in a few years will they tell her that would require them to sell their house?

FWIW, I like the OP in this and I appreciate that she didn’t try to be some peloton riding, non ozempic taking workaholic who was a disciplined spender. Most of my extended family is like this and it’s eye opening when I spend time with them because I’m very different.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:248k is nothing.

Totally depends on context. We retired early and live on that amount almost exactly and are living like royalty. Two very nice homes, travel, restaurants, treating the kids and grandkids to lots and lots etc.

When you don’t have childcare expenses, college expenses and don’t even have to worry about saving for retirement anymore because you’re already there it’s amazing how far money goes. Of course, the downside is that you’re that much closer to death lol.

Maybe your homes are paid too.

This is what a lot of people forget about their retirement “number.” For many, the income needed to sustain a lifestyle in retirement is significantly lower to build it for all the reasons the poster mentioned.

Essentially, when you have no wealth, you need an income that can both support you AND build a nest egg. When you retire, you have a nest egg that only supports your current variable spending (all the fixed costs were pre-paid).

Actually we do have a mortgage on one of the houses but the rate is so low we don’t want to pay it off. Our net worth is much higher today than when we retired because of the market.

Anonymous wrote:

Anonymous wrote:I was stunned at the lack of work focus. On Friday, she essentially didn’t work. Most other days she had a few late morning meetings, answered a few emails, etc., but mostly did random stuff about the house. I kept thinking that she was practically retired.

This is why they're making everyone go to the office

I don't even know if this "diary" is real, it feels like bait for the RTO people. Who could work that little and collect their whole salary and their manager not notice or care?

Anonymous wrote:

Anonymous wrote:248k is nothing.

Totally depends on context. We retired early and live on that amount almost exactly and are living like royalty. Two very nice homes, travel, restaurants, treating the kids and grandkids to lots and lots etc.

When you don’t have childcare expenses, college expenses and don’t even have to worry about saving for retirement anymore because you’re already there it’s amazing how far money goes. Of course, the downside is that you’re that much closer to death lol.

Maybe your homes are paid too.

This is what a lot of people forget about their retirement “number.” For many, the income needed to sustain a lifestyle in retirement is significantly lower to build it for all the reasons the poster mentioned.

Essentially, when you have no wealth, you need an income that can both support you AND build a nest egg. When you retire, you have a nest egg that only supports your current variable spending (all the fixed costs were pre-paid).

Anonymous wrote:248k is nothing.

Totally depends on context. We retired early and live on that amount almost exactly and are living like royalty. Two very nice homes, travel, restaurants, treating the kids and grandkids to lots and lots etc.

When you don’t have childcare expenses, college expenses and don’t even have to worry about saving for retirement anymore because you’re already there it’s amazing how far money goes. Of course, the downside is that you’re that much closer to death lol.

I can’t believe people read this drivel! Who cares about her dermatologist and her smoothie???

Anonymous wrote:

Anonymous wrote:I want to do it! I have a story like no other.

Go ahead and post your version here! It would be fun to read similar weekly activity and spending breakdowns from fellow DCUMers.

+1 Post your story! I love reading these.