.....
My wife and I are comfortable but by no means extravagant. We will be adding a new kid this year. Since we don’t live near family and neither of us are passionate about our work - we are wondering if this rat race is worth it, especially at the low numbers we pull.
My brother’s family (1 kid, stay at home wife) makes do as a programmer in Missouri for 80k total. They have the same life standards as we do (though perhaps not the same savings rate....since we max out all retirement accounts right now. My wife has a
her ROTH IRA, 401k, and a pension.).
We came here hoping to retire early and move back to the Midwest. But since prices keep climbing faster then our salaries - it’s hard to say if we can do this.
We pull in 260k (before taxes). Pay out 114k. Breakdown below.
Is it just me (or is it Blind TCGFO?) that makes me feel like this is not enough?
....
Income:
TC - 150k. (50k is RSUs - SDET role - age mid-30’s. Good bonuses are mostly over for me).
Wife TC - 110k. (Govt. no stocks...decent pension if she holds out longer.)
Total (before taxes): 260k
Savings:
Retirement : 400k (between us both, not including her pension.)
Equity: ~200-300k (value - mortgage. Mostly based on what the psycho SEA real estate marketing is pricing us as this week, and some improvements we’ve made).
Investments / Rainy Day: 70k (mostly vested stock)
Annual costs:
20k - Toddler Daycare
24k - Soon to be Infant Daycare
25k - Mortgage + Taxes + Insurance
5-20k - Home Improvement costs (Furnace is next - making this a 20k year. 🤑).
10k - Travel/Car costs. All trips to see family - cars are fully paid for junkers.
15k - Food/Diapers/House cleaners. We range from 800-1200 monthly on food costs (depends on us going out for takeout and various family visiting scenarios). House cleaners come every 3 weeks for 115.
Total: 114k costs
Want to see the real deal?
More inside scoop? View in App
More inside scoop? View in App
blind
SUPPORT
FOLLOW US
DOWNLOAD THE APP:
FOLLOWING
Industries
Job Groups
- Software Engineering
- Product Management
- Information Technology
- Data Science & Analytics
- Management Consulting
- Hardware Engineering
- Design
- Sales
- Security
- Investment Banking & Sell Side
- Marketing
- Private Equity & Buy Side
- Corporate Finance
- Supply Chain
- Business Development
- Human Resources
- Operations
- Legal
- Admin
- Customer Service
- Communications
Return to Office
Work From Home
COVID-19
Layoffs
Investments & Money
Work Visa
Housing
Referrals
Job Openings
Startups
Office Life
Mental Health
HR Issues
Blockchain & Crypto
Fitness & Nutrition
Travel
Health Care & Insurance
Tax
Hobbies & Entertainment
Working Parents
Food & Dining
IPO
Side Jobs
Show more
SUPPORT
FOLLOW US
DOWNLOAD THE APP:
comments
Other than financials, is there anything else keeping you in Seattle? There's no doubt that you will be able to build more wealth living in Seattle than the Midwest.
And perhaps the cost of that is this feeling that you're in a rat race. The reality is that you're not. You have a net worth of almost 1M--and if you continue to save and invest with that 260k income it will definitely be much larger. The first million is the hardest to make, it gets much easier after that.
Unless you and your wife really hate your current lifestyle, I wouldn't move. Financially, you guys are doing an amazing job! Keep it up