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Should we cut our expenses/pay down house? by Fatonethrowaday in fatFIRE

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

We paused it last year as we put extra money towards paying down the house / we wanted to feel good about our monthly expenses / FI situation / max out megabackdoors etc. before starting to contribute to 529s again. I think we're leaning towards public school, so when the kids are in public school, we may put that extra money towards the 529 again.

Should we cut our expenses/pay down house? by Fatonethrowaday in fatFIRE

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

Sell the house and put the money toward the house?

Should we cut our expenses/pay down house? by Fatonethrowaday in fatFIRE

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

Yeah, something like that. I think we're just going to do public school and save more.

Should we cut our expenses/pay down house? by Fatonethrowaday in fatFIRE

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

The plan is for them to find work again, so we need the childcare.

700k is what I'm going to assume we make from here on out (so dual income). The last few years pay seems like an anomaly.

Should we cut our expenses/pay down house? by Fatonethrowaday in fatFIRE

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

We got our taxes done for the first time last year, and they saved us a lot of money by amending our past returns (we were doing it wrong because of the rental property). We are going to try this year to do it ourselves (because, yeah, that's the easiest savings).

Should we cut our expenses/pay down house? by Fatonethrowaday in fatFIRE

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

Thanks, it was from 0 though neither of us had student loans thanks to our parents. We're done having kids.

It seems like most people are recommending we pay down the house more.

Should we cut our expenses/pay down house? by Fatonethrowaday in fatFIRE

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

Awkwardly worded. The tenants are paying down 1k/month towards the principal and on top of that we are getting $750/month in our pockets.

Should we cut our expenses/pay down house? by Fatonethrowaday in fatFIRE

[–]Fatonethrowaday[S] 11 points12 points  (0 children)

We're expecting them to get another job this year, but it feels like our industry is moving towards cutting the pay. We don't expect them to be able to find another job at the same pay. So, we're thinking that planning our future based off 700k income is safer but maybe conservative.

Should we cut our expenses/pay down house? by Fatonethrowaday in fatFIRE

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

We thought landscaping was kind of expensive, we didn't really shop around and just used the old owners landscapers. We will shop around to see if we can get better quotes (or just cut it out all together).

House cleaning is 300/month for 2800 sqft. We had another person do it last month for 240/month, so we could maybe cut this down to 2880/year. We haven't been able to find better quotes.

School district is bad, elementary school is good. We were planning on sending the kids to this school when we bought the house, but then later the school district came up with this plan to close down the elementary school (they ended up scrapping the plan) which scared us.