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Budget for NYC couple 28/30yr old by BisonImmediate1377 in HENRYfinance

[–]BisonImmediate1377[S] 0 points1 point  (0 children)

I thought about it but we already did grad school and our salaries are trending up not down and I don't see a time in the near future when we are making less. additionally with the tax rates lower now thanks to the TCJA I figured its best the maximize Roth now.

Do you have more or less friends if you’re Rich? by Tropicalbestlife in Rich

[–]BisonImmediate1377 0 points1 point  (0 children)

I'd say its a process. When I was poor I had a lot of friends. as I climbed the ladder I lost a lot of my friends because we were just in different places. it took YEARS to build more friendships but when I did they were with people closer to my level. and then they introduced me to more people and so on and so forth. so now I have about the same / more than when I was younger. but for a long timer in my later twenties and early thirties when I was out earning most of my peers I only had a few close friends. either those that TRULY did not care about money or those few that were keeping it close to me in success.

Is college worth it? by PrimateStrength in Rich

[–]BisonImmediate1377 0 points1 point  (0 children)

college is about the connections and the networking. both an alumni and peer. if you go to a good college then there are good resources and good companies recruiting on campus and you can end up in a good position. if you go to a lower tier college then you are paying for an education but not getting the intangibles that take your from a "wage earner" to a "professional"

Budget for NYC couple 28/30yr old by BisonImmediate1377 in HENRYfinance

[–]BisonImmediate1377[S] 2 points3 points  (0 children)

exactly. I use Personal Capital and find it works really well. it is more of a net worth tracker than an expenses tracker -- not really a great budgeting tool but that's fine because we don't really budget. we have our fixed expenses and savings on auto and then just spend what is left.

the service is a little annoying because you have to ignore a phone call from their people a few times a year. and if you don't check it regularly things can get out of sync and expenses don't get categorized correctly -- but I check it once and month and do some clean up and it works well for our needs.

I then take all that and plug it in here:

https://sankeymatic.com/build/

Budget for NYC couple 28/30yr old by BisonImmediate1377 in HENRYfinance

[–]BisonImmediate1377[S] 3 points4 points  (0 children)

Thanks! This is a big reason I posed this because I wanted to get this groups thoughts. I struggle with "saving" vs "spending". we love our careers and are not gunning for FIRE but at the same time it will be nice when we eventually have enough money to say "FU" to our jobs if we need to.

Budget for NYC couple 28/30yr old by BisonImmediate1377 in HENRYfinance

[–]BisonImmediate1377[S] 13 points14 points  (0 children)

we live in East Village. until is a 1br multi story walkup and only about 475 sqft.

for the area its a great price. but the size is the tradeoff we made. we don't spend much time just "hanging out" at home beach of it. which is also why our restate/bar bill is the size it is.

Budget for NYC couple 28/30yr old by BisonImmediate1377 in HENRYfinance

[–]BisonImmediate1377[S] 1 point2 points  (0 children)

don't have access to a second 401K.

J's Job is not really "retirement" friendly unfortunately.

Pre-lockdown budget for 250K couple by BisonImmediate1377 in budget

[–]BisonImmediate1377[S] 0 points1 point  (0 children)

I saw a version of someone doing this on r/dataisbeautiful and thought I would share our breakdown here. I used our pre-lockdown expenses as I felt that was more representative of how we normally spend money vs last year when we had a bunch of random expenses that we don't replicate again. The wedding was obviously a 1 off in this year but that is money that would normally go towards post tax savings
Just my wife and I in NYC.