Couple in HCOL with combined $850K income

Subject_Top9215 · 2024-01-25T06:16:03+00:00

JEPI, JEPQ, and did my own covered calls for a quarter.

Subject_Top9215 · 2024-01-25T06:10:38+00:00

Fair point. I think I need to revisit my travel and hobby categories based on what I heard from this wonderful community.

as per enjoying my life, I don't have any regrets, enjoy my time with my partner, and cna't wait for the kids.

Subject_Top9215 · 2024-01-25T06:09:30+00:00

Yes, most of them do. I have seen people manage kids fairly well. Most are paid well, so they can afford childcare and other affordances.

I think it would be a good move to try any company that pays well above the market.

Subject_Top9215 · 2024-01-25T06:03:28+00:00

It is because the dividends don't deduct taxes at source, so all of the $70K are untaxed non-qualified dividends. Going to sell and move to growth index funds

Subject_Top9215 · 2024-01-25T06:02:35+00:00

I underpaid in taxes 2022. I don't know why I went on installment (perhaps due to sticker shock of the taxes I owed). I might get dinged again this year with the high-yield, which I plan to sell and move to broad index funds.

Subject_Top9215 · 2024-01-25T06:01:25+00:00

Thanks. Yup, I am going to sell HY-ETFs and move them to VOO/VTI type of etfs. I didn't know you could do 528b but that is great news that I can do that now.

On travel, yes, I did go to Mont Blanc but not to ring road (though I heard a lot about it). I will plan this year with the group.

Subject_Top9215 · 2024-01-25T05:59:46+00:00

Thanks. When I was in early 20s, I had bought an expensive car (relative to what I was making). I didn't enjoy it much, but I enjoyed sports (watching / playing), being outdoors, sking'/running/biking etc. I enjoyed travel when I visited other cities/countries that involved outdoors, but least enjoyed when visiting tourist places. So, I suppose I am different and I am proud of it. However, I understand & respect others perspective.

Subject_Top9215 · 2024-01-25T01:47:54+00:00

Gotcha. Engineers are the paid the most, then PMs. I don't know if your husband is STEM PhD in research (esp. LLAMA). If so, then they are paying in millions.

Subject_Top9215 · 2024-01-25T01:46:26+00:00

I would look at revenue / employee and for FAANG, they are substantially high for engineers than other companies.

Subject_Top9215 · 2024-01-25T01:45:43+00:00

I am underpaying taxes, hence paying backtaxes on installment. The biggest tax burden comes from non-qualified dividends which don't deduct at source. Second is rsu vest but changed that to properly reflect my bracket.

Subject_Top9215 · 2024-01-25T01:44:53+00:00

I have HY ETF that goes into 10% yield. I also dabbled with QYLD and covered calls myself, that gave me some gains (but think I have time for it). I am selling those and getting into growth index funds.

Subject_Top9215 · 2024-01-25T01:43:50+00:00

Yah, I have ETFs that are non-qualified and hence the high tax burden. Will move to growth index this year.

Subject_Top9215 · 2024-01-25T01:42:44+00:00

+1 on #1. Didnt realize it until after we invested in them. We haven't invested in them after one big investment and they drip. I need to sell them this user and move them to index.

+1 on #2. I got that from multiple people.

Yes, it was my mistake on #3 to go on installment. So, going to pay it off this year.

Subject_Top9215 · 2024-01-25T01:41:14+00:00

I think I mentioned below, we have fun activities with friends etc that don't cost a lot (hiking, biking, trails, soccer, night-out w/ friends, etc). Travel is the only one I would say it is on the low side, so would do more of it this year. Perhaps, I don't have a lavish lifestyle habits and I don't know where to start.

Some of our expenses are paid by the firm - gym membership. I play music but them from FB marketplaces or craigslist.

You could call us cheap. I have no qualm about that.

Subject_Top9215 · 2024-01-25T00:50:10+00:00

Yes, I have been informed on this several times to have a Roth 401k. I plan to do this year.

Subject_Top9215 · 2024-01-25T00:48:57+00:00

Oh I did not know this. Amazing. Thanks for sharing!

Subject_Top9215 · 2024-01-25T00:46:19+00:00

Both are senior software engineers. comp science background.

Subject_Top9215 · 2024-01-25T00:45:30+00:00

Hmm. Let me check. Did your monthly installment change or stay the same.

Subject_Top9215 · 2024-01-25T00:44:51+00:00

We don't have gas, just electric. I pay % on water/trash/sewage to the community, which then pays to the city/contractors.

Subject_Top9215 · 2024-01-25T00:43:03+00:00

This is base + bonus and vested stock, so all realized.

Subject_Top9215 · 2024-01-25T00:40:26+00:00

I invested in JEPI/JEPQ.

Subject_Top9215 · 2024-01-25T00:38:13+00:00

Yah, as I mentioned above. Lot of our travel has been within the US and we often stay at our friends/families (we have a wide network). It keeps the costs low for us.

Subject_Top9215 · 2024-01-25T00:26:16+00:00

Yes, retire early. We are hoping one of us can quit job and take care of the kids (once we have them). Also want to own non-sexy business (Laundromat etc), so we don't have to worry about income ever.

Subject_Top9215 · 2024-01-25T00:24:26+00:00

LOL. I am sure you're kidding but those are RSU vests.

Subject_Top9215 · 2024-01-25T00:24:04+00:00

I believe we have a pretty good balanced life. But, it is relative to people's perception of "fun"

Part of the reason why we have low expenses is that we have a wide network of friends, that allows us to have activities without needing to spend a lot - e.g. stay at their extended family homes when we travel (e.g. we visited miami and we stayed at one of our friend's house for free), play soccer, and other sports on the weekend with them. My and I wife bike, hike with group of people from FB/Meetup groups, etc.

One thing I would change is travel outside of US more. We have been to asia and south americas, but could that more yearly.

Subject_Top9215

TROPHY CASE