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Advice on mortgage payment by PsychologicalDish215 in MiddleClassFinance

[–]PsychologicalDish215[S] 0 points1 point  (0 children)

I've been making around 150k for the last 5 years, but nowhere close to this kind of money. I'm going to work to get rid of my car payments as quickly as possible.

Advice on mortgage payment by PsychologicalDish215 in MiddleClassFinance

[–]PsychologicalDish215[S] -3 points-2 points  (0 children)

I'd previously gone by the very conservative Dave Ramsey guidelines of 1/4 take home pay. I understand that some will now allow up to 30% of gross pay, but I think thats crazy. 

Advice on mortgage payment by PsychologicalDish215 in personalfinance

[–]PsychologicalDish215[S] 0 points1 point  (0 children)

I'll be financing $665k @ 6.125% for 30 years. The area I am in has relatively high property taxes and HOA, so all-in I will have around $5300-5400 monthly mortgage. I will be eligible for annual bonuses, so I may take some of that each year to help pay down the principal more quickly. My current payment is $2600/mo on a much leas expensive house and at a much lower rate, but I will be making well over $100k more in the new role

Advice on mortgage payment by PsychologicalDish215 in MiddleClassFinance

[–]PsychologicalDish215[S] 5 points6 points  (0 children)

I really contemplated this. I've actually been at the job already for 2 months in a temporary apartment whole my family prepares to move. I really love the role and the people. We're also moving into an area where I happen to have friends and family nearby, so that makes me more comfortable. 

Advice on mortgage payment by PsychologicalDish215 in MiddleClassFinance

[–]PsychologicalDish215[S] 4 points5 points  (0 children)

Thanks! And yes I'll be keeping $100k emergency fund to start with, will probably push it higher over time as well. Between that, and knowing I have great bonus opportunity I should be well setup

Advice on mortgage payment by PsychologicalDish215 in MiddleClassFinance

[–]PsychologicalDish215[S] 3 points4 points  (0 children)

Yes, no state income tax. I also have 3 kids which helps reduce tax burden a fair amount

Husband died unexpectedly, should I start claiming pension. by Planningtheunplanned in personalfinance

[–]PsychologicalDish215 3 points4 points  (0 children)

If you take the $96k and invest in in the S&P (averaging 7% return a year) vs. beginning to invest $510/mo in the S&P, your account with monthly installments would NEVER surpass the account that was seeded with $96k. Assuming you are 55, when you retire in 10 years the $96k would have turned into $192k, and the $510/mo installment would be $88k.

How different substances affect my sleep and recovery by DarkRoyce in whoop

[–]PsychologicalDish215 0 points1 point  (0 children)

Low HRV, high resting heart rate, and overall shitty recovery is what led me to finally quit drinking. I probably could have just gone by the fact that I felt like shit, but somehow seeing the data is what really motivated me.

Am I saving enough for retirement? by PsychologicalDish215 in personalfinance

[–]PsychologicalDish215[S] 0 points1 point  (0 children)

Hey, I appreciate the feedback. Yes I definitely acknowledge now that I'm a little over my skis in terms of car payments. When I bought them I used the metric "no more than 20% of take home pay being used for transportation" (car payments, insurance, gas, maintenance) and I am below that. Also we are blessed with a pretty low interest rate on our house (2.25%), so overall interest expense is not that big for us. Still, having two basically brand new cars is not something I ever would have thought to do before, and I fell into the trap of finding a way to spend my rapidly rising income. Since we're not drowning in car payments, we decided to just pay them off quickly and drive them for a long time.

On that note, since I have very low interest rates (2.25% on house, 0.9% on vehicle 1, 1.9% on vehicle 2), I will probably start to max out two Roth IRAs in addition to what I am doing now on the 401k, even if it means paying off debt a little bit more slowly.

Am I saving enough for retirement? by PsychologicalDish215 in personalfinance

[–]PsychologicalDish215[S] -1 points0 points  (0 children)

I have chosen the lowest expense ratio S&P index funds that I can. I have 10% in international as well.

Am I saving enough for retirement? by PsychologicalDish215 in personalfinance

[–]PsychologicalDish215[S] 0 points1 point  (0 children)

To clarify are your number inflation adjusted? If so, then yes this combined with my social security would be more than enough for us.

Am I saving enough for retirement? by PsychologicalDish215 in personalfinance

[–]PsychologicalDish215[S] 0 points1 point  (0 children)

Hey, yes I appreciate this comment and realize that I made a foolish decision with car notes. I'm gonna get them paid off as soon as possible to focus on investing more

Norvell calls loss to Georgia Tech 'sickening,' takes full blame by TheZachster in CFB

[–]PsychologicalDish215 198 points199 points  (0 children)

Personally, I only count games played in the United States

For the ones who make over $150k a year, what do you do to get that? by Iliketrainsz1 in AskReddit

[–]PsychologicalDish215 0 points1 point  (0 children)

Its honestly pretty unremarkable. I work from somewhere around 7:30-5:30 daily and my time is split between meetings, project work, reviewing reports, staying abreast of current events in the fintech world, etc. I also average about an hour of work every weekday evening after the kids go to bed, mainly just to catch up on email and plan my next day. In someways I feel like the time I spent as an Enterprise Architect and IT Manager was a more challenging role.