20% Mortgage/Time Share (mistake) 5% Utilities/Phone 2% Gas 15% **** off 2% Insurance 15% Food 40% Savings
This is exactly how I feel. Buying a house before you're ready to start a family is just far too much of a risk. I lucked out in that I bought my house at the absolutely depths of the realty downturn in 2010 and sold it on a significant upswing, but that is by far the exception. If I had worse timing, I'd be living with a giant pain in the ass mortgage and the constant landlord's headache. No thanks.
Sure am. 23 years old and pulling in 67k. Working in the Front Office of an O&G corp. And set for an incremental market raise(like 3%) and merit increase(15%) in July. Direct savings account yes. Otherwise, retirement/investments are savings account and as said before; 401k gets 6% pre-tax monthly from me and my employer each plus 4% of end of year contribution from employer $200 goes into Vanguard Account(Investments) which I do not touch and won't for 10-20 years My last two bonuses I put 95% into savings, 5% to enjoy. This year will be 60 savings/20 checking acct/20 vanguard. Price-wise it's bottom tier in this area. Location wise and size wise it's best bang for your buck. Nearly 900 sq ft at a historic downtown loft. There's only two lofts cheaper, both are studios. Called timing....
I get your point, the idea of me throwing $1400 with no equity to gain on it is kind of annoying. Explain to me why I would go pay the same amount to live in the suburbs with these conditions; 1) I work less than 1mi from where I live 2) I'm 23 years old with no family 3) I'm not single, but about to be 4) In my 5 mile radius, there is a lot of night life and young females my age. Only reason to move to burbs; 1) Dogs have a yard. I dump my bonuses in there, then put the rest towards savings. Even then though, I'm getting skeptical on this I think they'll start making it taxable sooner or later. And for when I retire in 38-42 years, it'll certainly be taxed.
Aside from your rent not a bad start. But what are Vanguard investments? Your IRA or Roth IRA or something else? You do know if you touch that in 10-20 years you'll get penalized assuming you'll be 33 or 43.
I put $200/mo into my Vanguard account in which I invest in mutual funds/etfs. I've picked 3 that I dollar-cost average with. As for getting penalized...this is going to happen with any money-generating account. Even my IRA Roth in 40 years. I've come to accept thjs.
Nay. You won't get penalized in your Roth IRA as long as you make distributions after you turn 70.5 years old.
$4,000 - mortgage (Homes in Chicago & Columbus & Northern Ireland) $1,200 - Retirement fund $900 - Groceries/food (Organic and wife goes crazy) $800 - cash for the wife (she calls it lady upkeep) $900 - Car note for wife and my mother, as well as boat payment $600+ - Charity (wife handles all this.) $250 - Water/Trash/Electricity $0 - Cable/Cell phones/Internet (Company writeoff) $0 - Gas (Company writeoff) $0 - Car Insurance (Company writeoff) $0 - Work Lunches (Company credit card) Anything left over goes into savings..... in an account my wife doesn't know about.
78600 a year 3800 a month after 7% 401 and taxes 1600 a month house 350 cAr 110 country club dues 300 electric 70 cable ~1000 credit cArd (gas, groceries, ect)
Careful. <iframe width="560" height="315" src="//www.youtube.com/embed/4jOV0gaNKj0" frameborder="0" allowfullscreen></iframe>
33% Mortgage/property taxes 25% cars/ins/gas 10% utilities including cell/dish/internet 5% credit cards 30% food, clothing, etc. Company 401k matches 17% and I put in 7% and I also contribute about $100a month to a savings account for the kids.
http://www.richmontsquare.com/ click on available floor plans p.s. i don't work for them. i had a friend who used to live there, lol.
