41 years old, 3 kids + wife. household net worth is $2.1m. i feel poor as fuck
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Date: July 24th, 2024 11:24 PM Author: Mustard base new version
Total net worth is what I was referring to, not equity.
You have between 6x and 7x in home equity what I have.
If home equity goes up, you put money into other assets that also go up. I fail to see how real estate could keep pace with something like equities, but maybe. In any event, just save and invest more into things that aren't on the primary home side of things.
(http://www.autoadmit.com/thread.php?thread_id=5563675&forum_id=2#47889873)
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Date: July 24th, 2024 11:39 PM Author: Mustard base new version
I have saved another $160k towards college expenses. By the time my kids go, we should be in a good spot. House should get paid around then too. I think right now, on the current amortization schedule, it will be fully PIF right when my 4th child finishes HS. So we will be mortgage free for his school, assuming we do not refinance at some point.
We have over $1.3m of our net worth invested in equities, another $0.1m in money market, some alternatives, and the rest in home equity.
Maeking it would be getting to a position where we have freed up a little more discretionary cash each month (no kids in daycare, no mortgage perhaps, maybe able to do some home improvements/modifications, save more).
I have no desire to stop working before 70 or more likely 74 or 75. I think early 70s can be a good time to call it quits.
You've got it right on the health front. I need to focus on that now that I've got my schooling, built my family, stacked a little bit. I really need to focus on me. Health is wealth as they say.
(http://www.autoadmit.com/thread.php?thread_id=5563675&forum_id=2#47889943) |
Date: July 24th, 2024 10:12 PM Author: vibrant outnumbered kitchen fortuitous meteor
Basically identical situation here, except I'm 3-5 years younger.
Worst part is that monthly w2 income is not enough to cover monthly expenses.
Thank God I saved alot before kids.
(http://www.autoadmit.com/thread.php?thread_id=5563675&forum_id=2#47889616) |
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