want to have a family, feel like I don't make enough

Embrace the childfree life. Less stress, more time, and financial independence by 50.

Blacks are awesome wrote:

Embrace the childfree life. Less stress, more time, and financial independence by 50.

Financial independence by 50?!?!?!? I don't think so buddy. I am 52 childless and still live in my parents basement. I don't know what bank you robbed but it has recently been proven that it is virtually impossible to move out of your parents home before retirement. Basically you are living there waiting for them to die so that you can inherit the house. If you have bros and sistas you have to either cohabitate or kill them.

Do you (and your wife, I assume) want kids, or do you want financial security? Pick the one you want more.

Having kids is risky. There's no guarantee everything will turn out OK. But if you walk down the street right now, you'll see dozens of people in your city who make half of what you make and decided to have kids. If you have kids, you can make the budget work. You might not always like the compromises you have to make to make it work. though.

Quit your job and live in poverty. They pay you to have kids.

This is why I didn't have kids until I was close to 40. Save up some more, work your way to a higher salary and then revisit in 5-10 years.

I make almost twice as much as you do and would struggle to afford just one kid. Fortunately, I'm lukewarm on kids and don't mind if I have them or not.

You are going about this all wrong. 60k is more than enough.

1) move to somewhere with a low cost of living. Think suburbs of a mid sized midwestern or southeastern city.

2) buy a 6 year old japnese beater car. Drive it until it has 220k mile on it.

3) wife stays home an take care of kids

4) buy a small house and pay off mortgage ASAP.

5) buy some apartments for passive income. Never eat out. Invest all money except for emergency fund.

6) save nothing for children’s college. If they want and education, they can take out loans or get scholarships.

7) Retire early, run lots, obliterate your age group competition at the local turkey trot.

Typical LR advice wrote:

You are going about this all wrong. 60k is more than enough.

1) move to somewhere with a low cost of living. Think suburbs of a mid sized midwestern or southeastern city.

2) buy a 6 year old japnese beater car. Drive it until it has 220k mile on it.

3) wife stays home an take care of kids

4) buy a small house and pay off mortgage ASAP.

5) buy some apartments for passive income. Never eat out. Invest all money except for emergency fund.

6) save nothing for children’s college. If they want and education, they can take out loans or get scholarships.

7) Retire early, run lots, obliterate your age group competition at the local turkey trot.

This may very well be a troll post, but it pretty much describes my exact situation. OP, if you want to start a family, you can do it on 60k/year. It’s life; it’s supposed to be hard!

asians are awesome wrote:

sucks bros. I make like 60k/year in a big city, 30 years old. I've got a good nest egg of savings but am reading about the cost of day care and it would basically be an entire paycheck. jeez. depressing.

money is everything in this world. we need to be more upfront about the reality of raising kids and the importance of money in every aspect of life. I was raised by hippy boomer parents who told me to "do what you love" and provided no other assistance after that. Boomers are trash.

You are in a tough spot. On the one hand you are a loser because you are sort of poor for someone your age in a big city. On the other, adults without kids are, with ZERO exceptions, total losers.

My advice is get more successful soon, then have kids. Childless adults are really weird and pathetic. Wastes of life.

Get your MBA or learn C++ or Java. Make yourself more marketable. Then move to the hot tech scene in Phoenix or Scottsdale and buy a sprawling house with a pool for

The Mormon Way of Doing Business wrote:

Get your MBA or learn C++ or Java. Make yourself more marketable. Then move to the hot tech scene in Phoenix or Scottsdale and buy a sprawling house with a pool for

Less than $300k. Like this beauty:

It’s funny. I basically did this as well making the same amount of money. Then after couple of years, I got fed up and got my butt moving and now I make significantly more money. I’ve bought nicer things now but things don’t really change my happiness so I’m looking to go back to living simpler.

Typical LR advice wrote:

You are going about this all wrong. 60k is more than enough.

1) move to somewhere with a low cost of living. Think suburbs of a mid sized midwestern or southeastern city.

If your skills only get you 60k in a big city, they're going to drop to 40k in an area with a low cost of living. You're back to square one.

whachootalkinbout wrote:

Financial independence by 50?!?!?!? I don't think so buddy. I am 52 childless and still live in my parents basement. I don't know what bank you robbed but it has recently been proven that it is virtually impossible to move out of your parents home before retirement. Basically you are living there waiting for them to die so that you can inherit the house.

Troll post, but even basement dwellers in their 50s should be able to inherit the house. Life expectancy is around 75, not 105.

step 1 is already wrong wrote:

Typical LR advice wrote:

You are going about this all wrong. 60k is more than enough.

1) move to somewhere with a low cost of living. Think suburbs of a mid sized midwestern or southeastern city.

If your skills only get you 60k in a big city, they're going to drop to 40k in an area with a low cost of living. You're back to square one.

You understand that in all likelihood, that was a troll post.

step 1 is already wrong wrote:

Typical LR advice wrote:

You are going about this all wrong. 60k is more than enough.

1) move to somewhere with a low cost of living. Think suburbs of a mid sized midwestern or southeastern city.

If your skills only get you 60k in a big city, they're going to drop to 40k in an area with a low cost of living. You're back to square one.

Not really. 40k in a cheap area = you can still afford a house. 60k in a big city = you live in a studio or share a crappy 2bd.

TMWODB wrote:

The Mormon Way of Doing Business wrote:

Get your MBA or learn C++ or Java. Make yourself more marketable. Then move to the hot tech scene in Phoenix or Scottsdale and buy a sprawling house with a pool for

Less than $300k. Like this beauty:

https://www.zillow.com/homedetails/3855-E-Dewberry-Ave-Mesa-AZ-85206/7645080_zpid/

I feel like this house is on every Saturday night when I watch dateline Murder Mystery.

5/10 because you got all these responses. The giveaway was labeling your parents as stereotypical hippie boomers and then calling them trash.

Deja vu wrote:

TMWODB wrote:

Less than $300k. Like this beauty:

https://www.zillow.com/homedetails/3855-E-Dewberry-Ave-Mesa-AZ-85206/7645080_zpid/

I feel like this house is on every Saturday night when I watch dateline Murder Mystery.

Familiar eh? That's because it was Hank & Marie Schrader's house on Breaking Bad.