Anonymous
01/29/2014 17:37
Subject: How does your family survive making under 200k hhi
Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:Anonymous wrote:
Sure it can work but without a lot of room for savings, 529s, incidentals. . . This is how ppl end up feeling strapped. 70% of their take home is going to the mortgage, childcare, and food.
Child care can be up to 65% of take home pay.
That's when it's time to quit work and SAH.
+ 100
The fact is that no one is assigning a dollar amount to the work SAHP do at home, the savings as well as cost of going to work - clothes, commuting, childcare etc.
But sometimes it is more economical if one partner stays at home and takes care of things at home and save money. If HHI goes up along with expenses - then it may not be worth it for one partner to WOH
How could childcare come to 65% of take home? Is that for just one person or the whole HHI? I can't imagine going that route. We currently pay 13k for childcare for one. Our take home would have to be 20k for that to be 65%. If I made that little I'd qualify for various childcare vouchers so I actually wouldn't even be paying that. So I call BS or you're paying for luxury care you can't afford.
Everybody cannot quit work and be SAH. Sometimes the man just is not the higher earner. Sometimes him staying home is just not a valid alternative either. 13K for child care for one kid is a very good deal. Everybody does not get such a good deal. Some people have more than 1 kid. This is not because of bad choices. We did just fine and were able to afford more than 1, but then life happens and work is not that guaranteed and so even household finances change.
illness and disability happens to all kinds of people
Anonymous
01/29/2014 16:22
Subject: How does your family survive making under 200k hhi
Anonymous wrote:Anonymous wrote:Anonymous wrote:
I know you are really eager to feel superior but the fact is that only some of the items on this list are choices. Others are pure luck.
6) Brought the house at the BOTTOM of the market. Even with the housing crash we were up 50%. Very low mortgage rates. - That's pure luck.
8) No one is in therapy. - That isn't a choice, that's the lucky circumstance. It isn't a character flaw to need therapy.
9) No divorce, alimony, child support. - Few people getting divorced do so by choice. Some had that choice sprung upon them.
10) No fertility treatments. - THAT is pure luck, had nothing to do with choice. Go into a fertility clinic waiting room and marvel at how young the women waiting there are.
Perhaps, it is a lucky break to not have these costs. Just like it is a lucky break that many people get really high paying jobs with less qualifications than others. Or make a killing in stock markets. I do not begrudge their lot in life nor should they begrudge mine.
Never claimed I am richer. Just said that I have managed fine with what I make. Please also read my reply about what I would have done with my house if I did not have retirement savings.
I do not at all begrudge you your good fortune. I'm happy for you. I just don't think you should make it sound like it's all a product of choices. Some of it is a product of luck.
Life is a series of good and bad luck. You hedge the risks by prioritizing, saving, living below your means, getting insurance and planning for the future. Things balance out for everyone. My point was that living in DC skews people's perception about what "surviving" means.
Single mom with dead-end job, high school education, special needs kid and a long commute on a lemon of a car, making $30,000 - I could call that surviving. I do not call making less than 200K in any shape and form - surviving. Get a grip!
Therapy, fertility treatments, alimony..these are not common costs that people will undergo - who are surviving - around the world. These seem to be very common in this area however. I will throw in detox from drugs and treatment for gambling addiction as well. Yes, these are expenses that people have - we did not. Luck? Or just good choices?
I am sick of seeing people crying they cannot make ends meet, but insisting on buying a house. Please, Rent! Save for retirement, for your kids college. The whole idea of home ownership because it is the American dream is a bogus idea. People are chained by this idea.
Anonymous
01/29/2014 16:08
Subject: How does your family survive making under 200k hhi
Anonymous wrote:Anonymous wrote:Anonymous wrote:
NP here. On less than 200K HHI, we have funded our retirement, heavily insured, Prepaid college tuition for both kids, 2 cars, a SFH in the suburbs. Our kids will have very little or no student loans.
So what did we not do?
1) Did not do private schools
2) Did not have student loans
3) Did not upgrade to a bigger house (ours is 3200 sq ft)
4) Do not lease new cars. We have fuel efficient cars
5) Do not have pets.
6) Brought the house at the BOTTOM of the market. Even with the housing crash we were up 50%. Very low mortgage rates.
7) No childcare cost now.
8) No one is in therapy
9) No divorce, alimony, child support
10) No fertility treatments
11) No spa days
12) Only some organic stuff is consumed - milk, eggs, meat, berries. Rest is regular produce.
13) Do not have consumer loan (except for cars and house - we are not in debt)
14) I do not buy designer clothes, bags, shoes etc. Most of my clothes come from Kohl's and Macy's.
15) I will not buy most things from a shop, if I can buy from Costco.
Finally, I have confirmed that there is someone else on the boards like me! Our choices have left us in a comfortable position as we reach middle age, and it is a great feeling.
I know you are really eager to feel superior but the fact is that only some of the items on this list are choices. Others are pure luck.
6) Brought the house at the BOTTOM of the market. Even with the housing crash we were up 50%. Very low mortgage rates. - That's pure luck.
8) No one is in therapy. - That isn't a choice, that's the lucky circumstance. It isn't a character flaw to need therapy.
9) No divorce, alimony, child support. - Few people getting divorced do so by choice. Some had that choice sprung upon them.
10) No fertility treatments. - THAT is pure luck, had nothing to do with choice. Go into a fertility clinic waiting room and marvel at how young the women waiting there are.
Perhaps, it is a lucky break to not have these costs. Just like it is a lucky break that many people get really high paying jobs with less qualifications than others. Or make a killing in stock markets. I do not begrudge their lot in life nor should they begrudge mine.
Never claimed I am richer. Just said that I have managed fine with what I make. Please also read my reply about what I would have done with my house if I did not have retirement savings.
I do not at all begrudge you your good fortune. I'm happy for you. I just don't think you should make it sound like it's all a product of choices. Some of it is a product of luck.
Anonymous
01/29/2014 16:07
Subject: How does your family survive making under 200k hhi
Anonymous wrote:Anonymous wrote:Anonymous wrote:
NP here. On less than 200K HHI, we have funded our retirement, heavily insured, Prepaid college tuition for both kids, 2 cars, a SFH in the suburbs. Our kids will have very little or no student loans.
So what did we not do?
1) Did not do private schools
2) Did not have student loans
3) Did not upgrade to a bigger house (ours is 3200 sq ft)
4) Do not lease new cars. We have fuel efficient cars
5) Do not have pets.
6) Brought the house at the BOTTOM of the market. Even with the housing crash we were up 50%. Very low mortgage rates.
7) No childcare cost now.
8) No one is in therapy
9) No divorce, alimony, child support
10) No fertility treatments
11) No spa days
12) Only some organic stuff is consumed - milk, eggs, meat, berries. Rest is regular produce.
13) Do not have consumer loan (except for cars and house - we are not in debt)
14) I do not buy designer clothes, bags, shoes etc. Most of my clothes come from Kohl's and Macy's.
15) I will not buy most things from a shop, if I can buy from Costco.
Finally, I have confirmed that there is someone else on the boards like me! Our choices have left us in a comfortable position as we reach middle age, and it is a great feeling.
I know you are really eager to feel superior but the fact is that only some of the items on this list are choices. Others are pure luck.
6) Brought the house at the BOTTOM of the market. Even with the housing crash we were up 50%. Very low mortgage rates. - That's pure luck.
8) No one is in therapy. - That isn't a choice, that's the lucky circumstance. It isn't a character flaw to need therapy.
9) No divorce, alimony, child support. - Few people getting divorced do so by choice. Some had that choice sprung upon them.
10) No fertility treatments. - THAT is pure luck, had nothing to do with choice. Go into a fertility clinic waiting room and marvel at how young the women waiting there are.
Perhaps, it is a lucky break to not have these costs. Just like it is a lucky break that many people get really high paying jobs with less qualifications than others. Or make a killing in stock markets. I do not begrudge their lot in life nor should they begrudge mine.
Never claimed I am richer. Just said that I have managed fine with what I make. Please also read my reply about what I would have done with my house if I did not have retirement savings.
Anonymous
01/29/2014 15:35
Subject: How does your family survive making under 200k hhi
Anonymous wrote:Anonymous wrote:
NP here. On less than 200K HHI, we have funded our retirement, heavily insured, Prepaid college tuition for both kids, 2 cars, a SFH in the suburbs. Our kids will have very little or no student loans.
So what did we not do?
1) Did not do private schools
2) Did not have student loans
3) Did not upgrade to a bigger house (ours is 3200 sq ft)
4) Do not lease new cars. We have fuel efficient cars
5) Do not have pets.
6) Brought the house at the BOTTOM of the market. Even with the housing crash we were up 50%. Very low mortgage rates.
7) No childcare cost now.
8) No one is in therapy
9) No divorce, alimony, child support
10) No fertility treatments
11) No spa days
12) Only some organic stuff is consumed - milk, eggs, meat, berries. Rest is regular produce.
13) Do not have consumer loan (except for cars and house - we are not in debt)
14) I do not buy designer clothes, bags, shoes etc. Most of my clothes come from Kohl's and Macy's.
15) I will not buy most things from a shop, if I can buy from Costco.
Finally, I have confirmed that there is someone else on the boards like me! Our choices have left us in a comfortable position as we reach middle age, and it is a great feeling.
I know you are really eager to feel superior but the fact is that only some of the items on this list are choices. Others are pure luck.
6) Brought the house at the BOTTOM of the market. Even with the housing crash we were up 50%. Very low mortgage rates. - That's pure luck.
8) No one is in therapy. - That isn't a choice, that's the lucky circumstance. It isn't a character flaw to need therapy.
9) No divorce, alimony, child support. - Few people getting divorced do so by choice. Some had that choice sprung upon them.
10) No fertility treatments. - THAT is pure luck, had nothing to do with choice. Go into a fertility clinic waiting room and marvel at how young the women waiting there are.
Perhaps, it is a lucky break to not have these costs. Just like it is a lucky break that many people get really high paying jobs with less qualifications than others. Or make a killing in stock markets. I do not begrudge their lot in life nor should they begrudge mine.
Never claimed I am richer. Just said that I have managed fine with what I make. Please also read my reply about what I would have done with my house if I did not have retirement savings.
Anonymous
01/29/2014 15:31
Subject: How does your family survive making under 200k hhi
Anonymous wrote:
NP here. On less than 200K HHI, we have funded our retirement, heavily insured, Prepaid college tuition for both kids, 2 cars, a SFH in the suburbs. Our kids will have very little or no student loans.
So what did we not do?
1) Did not do private schools
2) Did not have student loans
3) Did not upgrade to a bigger house (ours is 3200 sq ft)
4) Do not lease new cars. We have fuel efficient cars
5) Do not have pets.
6) Brought the house at the BOTTOM of the market. Even with the housing crash we were up 50%. Very low mortgage rates.
7) No childcare cost now.
8) No one is in therapy
9) No divorce, alimony, child support
10) No fertility treatments
11) No spa days
12) Only some organic stuff is consumed - milk, eggs, meat, berries. Rest is regular produce.
13) Do not have consumer loan (except for cars and house - we are not in debt)
14) I do not buy designer clothes, bags, shoes etc. Most of my clothes come from Kohl's and Macy's.
15) I will not buy most things from a shop, if I can buy from Costco.
Finally, I have confirmed that there is someone else on the boards like me! Our choices have left us in a comfortable position as we reach middle age, and it is a great feeling.
I know you are really eager to feel superior but the fact is that only some of the items on this list are choices. Others are pure luck.
6) Brought the house at the BOTTOM of the market. Even with the housing crash we were up 50%. Very low mortgage rates. - That's pure luck.
8) No one is in therapy. - That isn't a choice, that's the lucky circumstance. It isn't a character flaw to need therapy.
9) No divorce, alimony, child support. - Few people getting divorced do so by choice. Some had that choice sprung upon them.
10) No fertility treatments. - THAT is pure luck, had nothing to do with choice. Go into a fertility clinic waiting room and marvel at how young the women waiting there are.