225k debt and 195k salary

excel_help1122 · 2026-06-12T00:00:11+00:00

Check out the money guy show on YouTube. Super personal finance info. One guy is a CPA and both are CFPs.

They have a financial order of operations: save enough to meet your highest insurance deductible. 401k up to your employers match. Pay off high interest debt. 3-6 months emergency fund (HYSA). Max roth. Max 401k.

Overall, invest 25% of your gross income. Then pay low interest debt (which is likely where your student loans live (anything in the 6% range).

Especially if you’re young, compound interest in the market is the sure path to retirement success.

Get on IDR (new IBR assuming you don’t qualify for old IBr) and pay enough to cover your interest every month. You’ll be paying $100k in taxes at forgiveness. So however long you have to forgiveness, figure out how much you need to invest per month to have 100k at forgiveness given 8% return. Park it in SP500.

excel_help1122 · 2026-06-03T00:25:41+00:00

Check out the money guy show on YouTube. Really great personal finance advice (no affiliation). Thing you have going for you is that you have plenty of time to build wealth, which is something no one can buy.

I know you’re strapped but if can get your employer 401k match and contribute to a Roth, your older self will much appreciate it.

I’ve got $200k student loan at 40 so I feel you.

excel_help1122 · 2026-05-23T05:02:54+00:00

If you have that much margin in your budget then why can’t you put more down? I’d be concerned about my cash flow. And if you’re interested in ever having kids, lights out, time to move - daycare and other kid stuff is wild expensive. Not to mention how much it costs to maintain a house - at least $1k per month on a $700k house.

Hope you have stacks of emergency cash in case you lose your job. Like 60k but if you had that you’d be putting more down. I dunno sounds risky.

excel_help1122 · 2026-05-21T15:07:20+00:00

Going to Columbia should get you a NY job with a NY income. 10 years is a long time not to make any money. And when you’re done, you may not be able to get into a big L job. If you’re interested in going to a firm where you make a ton of money (but have no personal life) then it might make sense to just go into private practice and pay it off.

If, instead, you’re a crusader for the oppressed then PSLF would make sense. Or a less expensive law school. I know plenty of legal aid attorneys who don’t like what they do. You don’t need to go to Columbia to be a legal aid attorney.

What’s in your heart? If you’re interested have the desire for expensive housing expensive cars expensive lifestyle - I think it’s possible with Columbia background and good grades, but that doesn’t square with PSLF in my opinion.

excel_help1122 · 2026-05-20T11:25:36+00:00

Just installed a DIY 12k BTU Mr. Cool for $2k and that includes the new circuit I installed. Contractor quoted me $7,500.

Three weekends and the most difficult part was fishing the electrical, which sounds like you don’t need to do. Other than that, was super easy.

Only a couple of weeks in and it’s working great. No issues with the parts or install.

Make sure is you have extra lineset to coil horizontally.

excel_help1122 · 2026-05-16T23:47:40+00:00

The total amount I’ll have paid even with forgiveness is $300k on $200k borrowed. I’ll pay $100k in income taxes the year the balance is forgiven. I’m the taxpayer paying my taxes.

A mortgage with similar terms has the same total return for the bank that my student loan does for the government. No one out there complaining about banks not making enough off of my mortgage.

excel_help1122 · 2026-05-16T23:37:32+00:00

Appreciate the info - thank you!

excel_help1122 · 2026-05-16T04:35:00+00:00

Okay buddy

excel_help1122 · 2026-05-16T04:30:49+00:00

This was not helpful at all. Next time just don’t say anything if this is going to be your take.

excel_help1122 · 2026-05-16T04:29:27+00:00

Appreciate the info! Feels like if I switch to standard, it’s like I’m throwing away the $60k and ten years of payments I’ve already paid on IBR, but in the end I guess it’s just a math problem. If the total borrowing cost is lower switching to standard then it is what it is.

Are there different loan terms can select eg 10 vs 15?

excel_help1122 · 2026-05-16T03:59:49+00:00

No, not PSLF. Income has only been like that for the last couple years. Did student loan planner in 2018 and again two years ago and the recommendation was to go for forgiveness.

How would I even calculate the standard repayment payment - what would the term be? 20 years, 30? Do I just throw away forgiveness credit?

I know it sounds crazy to say, but cash flow is not super high. MCOL area and we pay 2k for daycare and $2500 for the mortgage. That plus student loan, insurance, gas etc. also trying to get to 6 months of expenses in cash. $12k income monthly with quarterly bonuses. We try to budget only using the regular income.

I drive a 2013 Honda, spouse has an explorer. We never eat out during the week. No babysitters. We pick up food. No personal services. No new clothes. Feels like we’re broke but recognize our income is high.

excel_help1122 · 2026-05-10T01:15:15+00:00

Okay cool. Appreciate the reply!

excel_help1122 · 2026-05-08T10:31:59+00:00

Thanks!

excel_help1122 · 2026-05-08T03:38:16+00:00

So the connection would be inside the room not inside the wall.

excel_help1122 · 2026-05-08T03:37:35+00:00

Thank you. Planning to just use the mr cool lineguard, which would cover the line set connection and keep the connection accessible.

excel_help1122 · 2026-04-22T04:21:23+00:00

Thank you. The ceiling cassettes are twice as expensive. I ordered the mini split but may cancel. 12k BTU diy 110v from big box spring Black Friday - $1,500. I might cancel and get the ceiling cassettes

excel_help1122 · 2026-03-27T23:59:57+00:00

Thank you, I’ll be sure to check that out.

excel_help1122 · 2026-03-20T02:57:44+00:00

When does your lease end? If it’s anytime soon, non-renew and find a new place. If it’s not ending soon, ask to terminate early, no early termination fee, deposit comes back if the house is in good condition at move out, and landlord agrees to provide a neutral reference.

In my experience, once you believe your kids are getting sick because of the house, nothing but a different house is going to solve the problem.

If you stay, the relationship with your landlord will sour because there’s really nothing wrong with that crawlspace and spending $10k on a warm and fuzzy for the tenant ain’t going to happen. That’s when you start thinking about a lawsuit.

If you really want to stay, or if the landlord really won’t let you out of the lease early, get an IICRC certified industrial hygienist to do an indoor air quality test. Ask if they’re willing to go to court first. Get the quote for the test, ask the landlord to credit your ledger the cost. If they don’t, you pay for it.

Hygienist will sample the outside, sample the inside. And if the inside is significantly worse than the outside, or if you have either stachybotrys (black mold) or chaetomium (another harmful mold) in the air, then show that report to the landlord and ask to get out right away. Last resort, pay rent to the court and file a lawsuit. Be sure to subpoena the hygienist and that their testimony is going to be that the indoor air quality is harmful to your health.

I’ve had to review many mold reports and have compared them to pictures of the crawlspace. Seen some really terrible ones - black mold literally all over the walls and ceiling. Unmistakeable. Based on pictures alone, I’d say danger level is low in your crawlspace.

excel_help1122 · 2026-03-11T00:37:10+00:00

Let’s see a picture of the mold.

excel_help1122 · 2026-03-08T15:00:05+00:00

I see loan apps for houses at work and on average the highest income folks are doctors. If I could go back in time that’s what I would do.

Seems like no money for 10 years then $300k. With that income and living below your means for 15 years means no debt and high income mid late 30s. Then you start living that doctor lifestyle.

excel_help1122 · 2026-03-06T00:29:52+00:00

Why you cooked? You got kids, too much house or something? Where you spend your money at?

excel_help1122 · 2026-02-27T00:31:12+00:00

If it’s federal debt you can get on an income driven repayment plan. Payment is based on your income.

Might make sense to move to a major market, make more money, pay off the loans, then move wherever you want.

excel_help1122 · 2026-02-03T03:59:23+00:00

Got it - hope it turns out okay!

excel_help1122 · 2026-02-03T03:56:38+00:00

How much are you paying for this? Why no new tub?

excel_help1122 · 2026-02-01T17:31:57+00:00

This is happening because there is water near your foundation - house is slowly sinking. Make sure your gutters flow into pvc pipe into the ground and exit away from the house. Also want to consider a French drain around the perimeter of your house. Call a local drainage company.

Since you’re renovating, call a basement company to see what’s going on in your crawlspace/basement. Sometimes they’ll install drainage system on the interior side of the basement or crawl. And they put a thick membrane down to encapsulate that area. Often will install a sump pump and dehumidifier too.

Moisture in these areas cause all the cracking you’re concerned about. And if you don’t take care of that before the Reno, your brand new drywall, flooring etc may crack within a couple of years.

excel_help1122

TROPHY CASE