Post # 46
We’re starting soon (2 more months!) and currently our situation is:
Combined 190k (ish) income
Own home, mortgage with approx 350k left
Debt: student loans 43k, car loan 19k, never keep a balance on any of our credit cards
retirement contributions approx 10% of pre tax income
misc savings of $18k or so and currently adding to it to cover lost wages during maternity leave/medical costs related to pregnancy and birth.
Post # 47
Can I just say, I love how frank and open this discussion is? Really appreciated.
We’re in a housing market where the average home price is $500k-ish
Combined income of about $110k
Own home, mortgage $185k left
Debt: line of credit $25k, car loan $5k
Retirement savings: $26k (and growing, monthly pension matching)
Misc: Workplace top-up to 100% of wages during the first 6 months of mat leave will help with the financial strain of the second half of my leave, as I’m the higher earner
Post # 48
We don’t plan on TTC until next year, but we make average wages for our area (under 6 figures) and besides our mortgage payment, we have no debts (no car payments, no school loans, credit cards we always pay in full every month). I’m hoping to save up at least and additional 10k specifically for baby before TTC, if not more. We just bought our house last year, and we put down 20% which was a big chunk, and with all the house projects, I haven’t been saving like I used to.
Post # 49
Combined income $200k, own home outright no mortgage and have around $1m investments and savings. HCOL area.
Post # 50
We rent a home (houses in our area are between $1.5-2m We make just over 100k a year and we have a baby. We own our car, but have debt (student and line of credit) Its tight but people make it work with less than we make so its always possible.