He obviously can afford it, and it's not terrible. I've seen worse.

But 70k savings is still only 17.5% of 400k, plus he receives bonuses So probably less than 15% after that. Ideally, savings should be closer to 25%, if not higher if he wants any chance to retire early.

Also, he doesn't have the discipline on a 400k salary to not carry car notes? I'd have some questions.

It's hard to keep up that lifestyle in retirement unless you work until 75. I'm not knocking the guy. Again, he's earned it. I would still be doing things a bit differently and saving more on the back end.

Quote:

---

also ruin their bodies by the time they are 40

---

Yep.

Most folks I know from labor got knee, back shoulder or neck problems that get worse with age. A lot of folks plan was to move to desk work, but it's also hard to sit at a desk when you got those kind of issues.

No easy answer but wouldn't hesitate to advise some HS grad kid to do a trade for a minimum of 4-years before blasting money on college.

In hindsight, college was, and is a lifestyle decision more than anything else.

I am certain I wouldn't be where I am today if I went to college out of high school. Instead I worked a few years and went for a program that puts people in the jobs the program was geared to. High paying jobs, at that.

Mine is worse and I won't regale you with the details.

Stat Monitor Repairman said:

---

Quote:

---

2.95% interest rate and we're never moving.

---

Same.

2.375 and never moving or selling in this lifetime.

And part of the problem with that is the lack of mobility of the workforce. People moving to upgrade to a better job, better quality of life is a factor in driving the economy.

Don't see that happening. People going to sit on what they got for the foreseeable future. We'll see stagnation like they have in SA and Europe. A lot of nice places but nobody is selling or buying because they can't and there's no where to go.

Everyone on here is lucky as hell though. Not discounting hard work, but in hindsight most on here simply born at the right time.

Another problem I see is a glut of boomer houses coming on the market. Built with 90s materials these beasts are not energy efficient, due for new roofs, new HVAC and cost a ton to heat cool.

Aside from Indians who roll 10 and 12 deep, who is gonna be buying these houses in this market?

---

People say never moving, but shigt always happens. Divorce, lose a job, have to move for work, etc. When/ if the economy crashes, and people start losing jobs, there's going to be tons of short sells and foreclosures, then the housing market collapses. That storm will probably come soon too....Seems like we are always on the verge of recession if not in recession and the government pumping money into the economy to keep it propped up and bailing out businesses.. How long can they keep doing it?

beerad12man said:

---

Also, he doesn't have the discipline on a 400k salary to not carry car notes? I'd have some questions.

It

---

Alot of questions. I don't think he is being fully honest with those expenses, and I don't think he is being honest at saving 70k a year.

Dude is 100 percent keeping up with the Joneses… which is fine, but he is kidding himself if he is thinking otherwise.

For me…. The Joneses can get effed. I'll retire before them anyway and go do awesome things rather than sitting at some dinky country club, drinking watered down Jack daniels and soda wondering why my life sucks.

Ramdiesel said:

---

Stat Monitor Repairman said:

---

Quote:

---

2.95% interest rate and we're never moving.

---

Same.

2.375 and never moving or selling in this lifetime.

And part of the problem with that is the lack of mobility of the workforce. People moving to upgrade to a better job, better quality of life is a factor in driving the economy.

Don't see that happening. People going to sit on what they got for the foreseeable future. We'll see stagnation like they have in SA and Europe. A lot of nice places but nobody is selling or buying because they can't and there's no where to go.

Everyone on here is lucky as hell though. Not discounting hard work, but in hindsight most on here simply born at the right time.

Another problem I see is a glut of boomer houses coming on the market. Built with 90s materials these beasts are not energy efficient, due for new roofs, new HVAC and cost a ton to heat cool.

Aside from Indians who roll 10 and 12 deep, who is gonna be buying these houses in this market?

---

People say never moving, but shigt always happens. Divorce, lose a job, have to move for work, etc. When/ if the economy crashes, and people start losing jobs, there's going to be tons of short sells and foreclosures, then the housing market collapses. That storm will probably come soon too....Seems like we are always on the verge of recession if not in recession and the government pumping money into the economy to keep it propped up and bailing out businesses.. How long can they keep doing it?

---

according to "Heineken" (I like Helsinki better) they can't keep it up after the financial crisis and covid.

The next one is going to sting. A lot.

(And I love how boomers also ignore the fact that the government basically did a lot of this to prop up their asset values and then they turn around and blame kids, or welfare, or other folks regarding handouts).

Quote:

---

Divorce

---

Divorce is the highest risk proposition that no one wants to talk about.

Court orders you to sell your sub-3% interest house or Refi to buyout equity and sudden'y you up **** creek scrambling to re-buy at high interest or find somewhere to live.

People stress over what 401k fund gains them an additional 1% but a divorce situation is a 50% haircut plus recurring obligation if children in the picture.

Catastrophic.

Usually takes people a good 5-years to recover. Have seen it happen time and time again.

Combine that with the fact that one segment of the population files 80% of all divorces and half that are on the the latest and greatest psychotropic, the side effects of which can cause people to change their mind on a whim.

beerad12man said:

---

He obviously can afford it, and it's not terrible. I've seen worse.

But 70k savings is still only 17.5% of 400k, plus he receives bonuses So probably less than 15% after that. Ideally, savings should be closer to 25%, if not higher if he wants any chance to retire early.

Also, he doesn't have the discipline on a 400k salary to not carry car notes? I'd have some questions.

It's hard to keep up that lifestyle in retirement unless you work until 75. I'm not knocking the guy. Again, he's earned it. I would still be doing things a bit differently and saving more on the back end.

---

Thanks for laying it on thick and the lecture.

To give more clarity, not that it will change your opinion, 5 years ago we made maybe half of that. Lived in $250k house, drove a 2012 Honda accord and a 2008 Tahoe. 15 year mortgage and saved like hell.

Both careers continued to advance and we have just now really reached this level (36 and 35). So let's not act like it's yolo season.

We were at a point where building a "15+year home" was feasible, needed new to us vehicles, and started to have children. It was a big step in expenses and the payment burden was felt but we didn't have 70-80k cash sitting around to buy cars. Our cash sits in emergency funds or dry powder for investments. 2% interest is hard to pass on anything. I don't intend on having a car payment once these are clear.

Stat Monitor Repairman said:

---

Quote:

---

Divorce

---

Divorce is the highest risk proposition that no one wants to talk about.

Court orders you to sell your sub-3% interest house or Refi to buyout equity and sudden'y you up **** creek scrambling to re-buy at high interest or find somewhere to live.

People stress over what 401k fund gains them an additional 1% but a divorce situation is a 50% haircut plus recurring obligation if children in the picture.

Catastrophic.

Usually takes people a good 5-years to recover. Have seen it happen time and time again.

Combine that with the fact that one segment of the population files 80% of all divorces and half that are on the the latest and greatest psychotropic, the side effects of which can cause people to change their mind on a whim.

---

There's higher divorce rates now among the older folks too than ever. It keeps going up. The parents that stuck together for the kids, or the kids left home, and now momma realizes she don't have as much in common with dad as she thought, etc. Momma gets new crazy friends, and wants to step out. Momma wants to travel a lot, and dad doesn't. Momma tired of putting up with lazy dad's shigt for years... All kinds of reasons.. Lots of longterm marriages ending, sadly...

ChoppinDs40 said:

---

beerad12man said:

---

He obviously can afford it, and it's not terrible. I've seen worse.

But 70k savings is still only 17.5% of 400k, plus he receives bonuses So probably less than 15% after that. Ideally, savings should be closer to 25%, if not higher if he wants any chance to retire early.

Also, he doesn't have the discipline on a 400k salary to not carry car notes? I'd have some questions.

It's hard to keep up that lifestyle in retirement unless you work until 75. I'm not knocking the guy. Again, he's earned it. I would still be doing things a bit differently and saving more on the back end.

---

Thanks for laying it on thick and the lecture.

To give more clarity, not that it will change your opinion, 5 years ago we made maybe half of that. Lived in $250k house, drove a 2012 Honda accord and a 2008 Tahoe. 15 year mortgage and saved like hell.

Both careers continued to advance and we have just now really reached this level (36 and 35). So let's not act like it's yolo season.

We were at a point where building a "15+year home" was feasible, needed new to us vehicles, and started to have children. It was a big step in expenses and the payment burden was felt but we didn't have 70-80k cash sitting around to buy cars. Our cash sits in emergency funds or dry powder for investments. 2% interest is hard to pass on anything. I don't intend on having a car payment once these are clear.

---

Bro, you earned it. Life is for enjoying, and you seem to be doing that. But don't fool yourself what you are doing is all.

Cool.

I actually went down my monarch budget when I wrote that and quoted them all.

70k is pretty basic math. 2x max 401k so 46. 8,300 for HSA (which never gets touched and only invested), 4,800 to 529s. 6,000 to brokerage and roughly 15k of match.

So closer to 80 I guess. I like to golf and hate Jack Daniel's. Thanks for your concern

ChoppinDs40 said:

---

Cool.

I actually went down my monarch budget when I wrote that and quoted them all.

70k is pretty basic math. 2x max 401k so 46. 8,300 for HSA (which never gets touched and only invested), 4,800 to 529s. 6,000 to brokerage and roughly 15k of match.

So closer to 80 I guess. I like to golf and hate Jack Daniel's. Thanks for your concern

---

You can save a lot of money drinking banana bomb Gentlemen Jack.

JobSecurity said:

---

ThunderCougarFalconBird said:

---

How are most people able to carry a 400k note at current rates?

ETA I'm not talking about the millionaires here on TexAgs. I'm talking about Joe Sixpack and Jane Boxwine.

---

For reference, 400k with 20% down @ 6.75% with 2.2% property tax and average insurance is around ~3000/mo

Definitely tight for an "average" household of 80k but I wouldn't say impossible

---

If you've got $80K available for a down payment....

I lied. The Bourbon thread has also taken its pound of flesh from me. I guess booze are a luxury also.

hedge said:

---

I'm sure they are, they also ruin their bodies by the time they are 40 and have a **** ton in medical bills. I'm good not doing that, and I do a labor job on the side so I would know

---

If you really want to **** up your body, sit behind a desk for 40 years like I have.

I've never been overweight and I've done well as a professional and entrepreneur. I got a degree so I wouldn't have to work outside, and it damn near killed me. I'm retiring next year and I'll be spending most of the rest of my life working with my hands outside.

ChoppinDs40 said:

---

Cool.

I actually went down my monarch budget when I wrote that and quoted them all.

70k is pretty basic math. 2x max 401k so 46. 8,300 for HSA (which never gets touched and only invested), 4,800 to 529s. 6,000 to brokerage and roughly 15k of match.

So closer to 80 I guess. I like to golf and hate Jack Daniel's. Thanks for your concern

---

just giving you a hard time is all man. Glad you took it as the friendly elbow rather than me dunking on you.

I have the opposite problem and don't do enough "enjoyment."

Just can't shake that feeling that I have to be ready for absolute war at anytime.

Yep. the new term for that is gray divorce.

Also momma don't understand that she bouta get run through like **** through a goose.

A bleak picture on the other end of that deal. See that too.

Men take a few years to recover. Women on the other-hand don't do as well on the open market as they thought they would.

Quote:

---

(And I love how boomers also ignore the fact that the government basically did a lot of this to prop up their asset values and then they turn around and blame kids, or welfare, or other folks regarding handouts).

---

Question please: Do you consider a tax deduction a "handout"?

aggiehawg said:

---

Quote:

---

(And I love how boomers also ignore the fact that the government basically did a lot of this to prop up their asset values and then they turn around and blame kids, or welfare, or other folks regarding handouts).

---

Question please: Do you consider a tax deduction a "handout"?

---

in alot of ways, yes. Just high class

Jane Boxwine. How had I never heard that one before! Now I know what to call my daughters!!!!

Stat Monitor Repairman said:

---

Yep. the new term for that is gray divorce.

Also momma don't understand that she bouta get run through like **** through a goose.

A bleak picture on the other end of that deal. See that too.

Men take a few years to recover. Women on the other-hand don't do as well on the open market as they thought they would.

---

Yeah, I've heard that "gray divorce". I was actually kind of worried when my dad passed and my mom was still a fairly young looking 62 year old at the time. She inherited the house and family farm, and I figured some old Con artist would come along, and try to take her for everything since there are tons of men out there using older women now. My mom was too smart and too mean for that though.....Since my brother and I live pretty far away, she's figured out she can get a lot of help on the farm from the local young dudes for just allowing them permission to hunt and fish the riverbank and ride horses..Some of them plant and harvest crops for her with their equipment and labor and take half the profit. It's worked out good.

Wonder how much of that increase is as a result of home buying investors? Should limitations be placed on corporations buying single family homes to curb the increase in housing prices?

AggieDub14 said:

---

Wonder how much of that increase is as a result of home buying investors? Should limitations be placed on corporations buying single family homes to curb the increase in housing prices?

---

A. Maybe some
B. No
C. Ban foreigners from buying farmland
D. Housing costs are a product of the valuation of our currency. They are not the problem. The problem is inflation that has wages not keeping up with the increase in costs of everything.

AggieDub14 said:

---

Wonder how much of that increase is as a result of home buying investors? Should limitations be placed on corporations buying single family homes to curb the increase in housing prices?

---

Definitely a part of the problem with the rise of Airbnb, etc. I know it's a big investment strategy of Chinese immigrants to buy investment houses, among other groups, not to mention BlackRock and other ultra rich investment groups. If you can buy it outright, then rent, it's a pretty good ROI, even with upkeep. I knew a guy at work that made a boatload off of Section 8 houses.

AggieDub14 said:

---

Wonder how much of that increase is as a result of home buying investors? Should limitations be placed on corporations buying single family homes to curb the increase in housing prices?

---

No. The free market should dictate prices.

Tom Fox said:

---

AggieDub14 said:

---

Wonder how much of that increase is as a result of home buying investors? Should limitations be placed on corporations buying single family homes to curb the increase in housing prices?

---

No. The free market should dictate prices.

---

does that mean artificially inflating asset values kind of free market sue to fed policy?

Tex117 said:

---

Tom Fox said:

---

AggieDub14 said:

---

Wonder how much of that increase is as a result of home buying investors? Should limitations be placed on corporations buying single family homes to curb the increase in housing prices?

---

No. The free market should dictate prices.

---

does that mean artificially inflating asset values kind of free market sue to fed policy?

---

The fed shouldn't exist. No reason to compound it with more errors. Vote to eliminate it.

Laissez faire robber baron capitalism is the way.

TXAGBQ76 said:

---

What are interest rates right now? Mine was 16.5%?

---

And houses were $33 per sq ft back then

aginlakeway said:

---

Built our home here in Lakeway area for 400 5 years ago. 3.5 mortgage.

We would list it at 850-900 now. Insane.

---

Built in Lakeway in 2014 for 450k

Sold in 21 for 1.25m. Nuts!

Been renting in Lakeway since but about to build a new home near Lost Pines. We've been here 21 years and with the kids gone it's time to leave the traffic and high taxes to live in the country on an acre. Paying cash and putting the rest in the bank.

No one has brought it up but health ins cost alone has got to be having an impact as well. I can remember when family health insurance was 300-400 a month straight up with 2000 deductible and now it is 1500 plus for way higher deductibles and less coverage. Also day care used to be around $75 a week 20 years ago, what is it currently ? I have not paid any in 4 years and even then it was around $1100 a month at a preschool.

My youngest is 380 a week at a primrose. 4yr old is 295.

"Buy land, they are not making any more" Mark Twain.

hedge said:

---

If they're right out of school that's not that shocking. Lot of new grads only make around ~40k

---

That is shocking to me. What degree's start at 40 ?

Teachers start around 52 in College station. Bigger districts are closer to 60

JP76 said:

---

hedge said:

---

If they're right out of school that's not that shocking. Lot of new grads only make around ~40k

---

That is shocking to me. What degrees start at 40 ?

Teachers start around 52 in College station. Bigger districts are closer to 60

---

Depending on which state you work in, teaching doesn't pay much at all. They start at right around $35,000 in some districts here in Tennessee.