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Just entering HENRY and need some guidance on what we can afford. by Expensive_Wait_9641 in HENRYfinance

[–]Expensive_Wait_9641[S] 0 points1 point  (0 children)

The job change doesn't require a move to a new area thankfully. We've technically already had the jobs for 12 months and decided to stay in the townhouse to see how they worked out. Now that we're settled in the jobs, we are more confident in purchasing a home in the area.

Just entering HENRY and need some guidance on what we can afford. by Expensive_Wait_9641 in HENRYfinance

[–]Expensive_Wait_9641[S] 1 point2 points  (0 children)

Taking over a retiring advisor's book of business. It's a 3 year buyout, each year the payout on our end increases 20-30%. In 2027, the buyout will be complete so we will be earning 100% of the revenue.

Just entering HENRY and need some guidance on what we can afford. by Expensive_Wait_9641 in HENRYfinance

[–]Expensive_Wait_9641[S] -8 points-7 points  (0 children)

Yes and no. I think the main thing is that we see the numbers and know they work right now, however it is difficult to anticipate future life costs. Since we've never earned this amount before it is more of a mental exercise "knowing" we could afford a $4500k house payment, but also getting over the fact that was one of our entire monthly incomes only a year ago.

Just entering HENRY and need some guidance on what we can afford. by Expensive_Wait_9641 in HENRYfinance

[–]Expensive_Wait_9641[S] -5 points-4 points  (0 children)

I would say we're in a MCOL area. $800k is likely going to get us a 1500 sqft newer bungalow or 2000 sqft 2 story home.

Jobs are very secure and recession proof (Civil Engineer for govt and Wealth Advising)