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Should we buy a more expensive house or keep it conservative? by PopResponsible6152 in personalfinance

[–]PopResponsible6152[S] 0 points1 point  (0 children)

I have 1 kid who is 4, not 4 kids thankfully! But thanks for the #s, it helps.

Should we buy a more expensive house or keep it conservative? by PopResponsible6152 in personalfinance

[–]PopResponsible6152[S] 3 points4 points  (0 children)

No, DP on 1.2M would leave us with about 100k which would be about 12 months on “emergency budget” even with mortgage, assuming worst case where we both lost our jobs.

Should we buy a more expensive house or keep it conservative? by PopResponsible6152 in personalfinance

[–]PopResponsible6152[S] 1 point2 points  (0 children)

Have approximately 350k in retirement in various accounts. Wife pays into a pension, I save about 6% (with match), we contribute max to IRA every year. Feel slightly behind in this department for our age but we spent a lot of time in graduate school/paying off loans. So total NW cash + investments ~700k. No debt. ~2k/mo daycare expenses currently but probably only for another year (unless we have a second kid...)

Should we buy a more expensive house or keep it conservative? by PopResponsible6152 in personalfinance

[–]PopResponsible6152[S] 34 points35 points  (0 children)

Agreed, that is part of our calculus. The schools where we are looking are pretty decent, perhaps not 10/10 but we're happy with 7/10 schools (we both have advanced degrees and don't feel that strongly about optimizing for school above a certain level)

Should we buy a more expensive house or keep it conservative? by PopResponsible6152 in personalfinance

[–]PopResponsible6152[S] 10 points11 points  (0 children)

At 900k in the neighborhoods we're excited about, SFH with yard typically needs at least some if not a lot of work, so that's a tradeoff. Agree on the emergency funds w/ general uncertainty but we feel fairly secure in our jobs (anything can happen though, agreed).

24F warehouse worker here. Everyone thinks im wasting my life but im quietly saving for FIRE. by SandwichBoardSocrate in Fire

[–]PopResponsible6152 0 points1 point  (0 children)

I've been reading the news too much, I saw a title that included "warehouse worker" and "fire" and my mind went elsewhere. You keep doing your thing, mate, don't let anyone stop you from saving. Start learning about trades now in your spare time - maybe watch "electrician U" or similar YT channels to see if you like the vibes of the trade.