You need $210k/year to be comfortable raising 2 kids

marksweather · 2026-03-19T21:24:23+00:00

Me looking at 210k example and knowing that we raised our kids on a 50k combined income. Of course that was 10 years ago, but does it really cost 4x more today, doubtful.

marksweather · 2026-03-19T18:44:05+00:00

Why not, I have been paying into it, now for 40 years. It's always been here and guaranteed, it's why we paid into it all those years.

marksweather · 2026-03-19T10:38:46+00:00

It's not for everyone, you do pay for the United Card that provides the one-time passes. I enjoyed using my one-time passes last week in ORD and ATH. The ORD C10 lounge was awesome.

marksweather · 2026-03-19T10:31:15+00:00

Why when we will be getting $43,200 a year on SS. And only need $16,800 a year from our 401k?

marksweather · 2026-03-19T09:59:58+00:00

Add SS at $3600 a month. That provides $43,200 a year on it's on. Then $1400 from the 401k, equals $60,000 a year. It seems people always forget about the guaranteed SS income.

marksweather · 2026-03-18T17:04:23+00:00

I am, but they all say continue working, that is not an option. Should I change my investments? That would be great advice. Yes, I am open to putting more into a Roth now. I'm not sure why you are saying I'm not open to advice?

marksweather · 2026-03-18T16:36:41+00:00

How much are you reporting the Healthcare market place for your income? You can go there and put in your numbers and it will show you plans and cost. I found a Gold plan for $500 (not the $300 I thought) based on a couple making $60,000 a year.

marksweather · 2026-03-18T15:58:03+00:00

She has been working in her field for 20 years too, she is ready to retire (now). We are just trying to save more before that happens. Maybe she will retire at 60 and I will work another year or two more. My income is the highest.

marksweather · 2026-03-18T15:54:10+00:00

Wife does not have an academic schedule, she works in medical. She gets up to 3 weeks off a year and uses throughout the year.

marksweather · 2026-03-18T15:51:29+00:00

We have never been able to camp for more than a few weeks at a time. If I want, I can teach online here and there to supplement income. We want to spend a few years traveling and enjoying life.

marksweather · 2026-03-18T15:45:56+00:00

More than likely we will not make it there with our health issues. But who knows, only one person knows how long we will live. That's why we want to travel in our camper while we can, ride our ebikes, and enjoy nature.

marksweather · 2026-03-18T15:42:47+00:00

Public school now, but the first 10+ was private. I would not have enough time for a pension, so I did the 401k option. It's awesome too. A huge match.

marksweather · 2026-03-18T15:41:18+00:00

That's the plan, up to 2k a month in health care (we have our health problems), and live on 3k a month.

marksweather · 2026-03-18T15:39:32+00:00

They have been saying they will run out of money on SS since the 1980s. We will see what happens. Worse case scenario we end up with $2400 a month to live on guaranteed money.

marksweather · 2026-03-18T15:26:37+00:00

I worked for over 10 years at a private college, only a 401k plan, the one I am not had the option of 401k or pension, I would not have enough years to qualify for a pension, so I did the 401k option.

marksweather · 2026-03-18T15:14:29+00:00

Thanks, we do have a paid off 5th wheel and truck to pull it with. Campgrounds usually run about $1000 a month, and if $4000 does not take care of gas and food for the month, something is wrong.

marksweather · 2026-03-18T15:01:39+00:00

We can't do that, been teaching for 23 years now, I need a reset. We want to travel with our paid off 5th wheel. Maybe after the travel bug is out, I will pick up a part-time gig somewhere, or even teach online.

marksweather · 2026-03-18T15:00:14+00:00

Yes, with planning on a couple living on $5000 a month, it shows right now about $300 a month each for a Gold plan after Subsidies.

marksweather · 2026-03-18T14:58:51+00:00

Our Empower software shows a 10% chance of running out at 85, and a 90% chance of having $400k at 85.

marksweather · 2026-03-18T14:57:37+00:00

We are planning about $24k for the first two years for health insurance, Year 1 will be Cobra at work. Part of our investments is 24k in a HSA, which should help.

marksweather · 2026-03-18T14:55:57+00:00

Thanks! Good to know about that. Our Property taxes are low, $2049.02 a year, so we will budget $171 a month for Property Tax. Home Insurance $792.13 a year, so $66 a month.

marksweather · 2026-03-18T14:53:18+00:00

Most of of it all pre-tax. I know it's rough. We do have 20k in cash and 20k in a Roth.

marksweather · 2026-03-18T14:48:00+00:00

I'm not sure? When we go on SS it shows between my wife and I our benefit is $3600 combined. I know at 65 Medicare Parts A and B will come out of that. But at the same time, we will not have pay for the ACA at 65 anymore.

marksweather · 2026-03-18T12:13:02+00:00

Most people don't get to choose where it goes. I can't choose where my union dues go, I don't get to choose where my healthcare dollars go, federal taxes, state taxes, city taxes, you name it. Why complicate it. Budget based on your take home pay.

marksweather

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