2

12/29/2011 12:12:30 PM

Damn son, tell us your secrets!

12/29/2011 1:14:20 PM

Quote :

" Beyond that is where you can start deciding if you want to go back and max your 401k or pay more down on your mortgage imo (if you can't do both)."

I still wouldn't pay down the mortgage. 401k up to the match, then max a Roth IRA, then either contribute more to the 401k or just invest in plain old taxable accounts.

12/29/2011 4:25:31 PM

Quote :

"How much money will I have in 40 years? (All interest rates and tax rates can be variables.)"

My favorite site for this has been bankrate for quite some time. They have many calculators but I use these most often.

http://www.bankrate.com/calculators/savings/simple-savings-calculator.aspx
http://www.bankrate.com/calculators/mortgages/mortgage-calculator.aspx

12/29/2011 4:37:29 PM

i felt pretty financially stable until we got pregnant (on purpose)

12/29/2011 4:41:59 PM

While I wouldn't say that I am where I'd like to be financially (in reasonable terms), I'd say I've always been financially stable. Of course, it helped that my parents bought me a car and put me through my undergrad (including rent). Ever since graduating in 2005, I've been cut off from them financially, and there have even been times that they have borrowed upwards of $2500 (which they pay me back, with interest). I have not held a permanent position at any job worth mentioning, never had salary. I've been a grad student the past 2.5 years, and the 2 years prior to that I worked as a tech at a place that provided housing and utilities.

Granted, I've been single for a very long time and I do not own a house. While my savings have not increased, they are not decreasing. I have been paying off my vehicle since I bought it new in 2009, and I pay rent. But I also do not spend copious amounts of money on entertainment...most of my money is spent on essentials.

So hopefully I can maintain this "stability" at least until I finish school and find a permanent job.

12/30/2011 6:37:48 PM

money wise - 27 (temp job, on the road, lots of OT and per diem and had a rental car)
job wise - 29

[Edited on February 3, 2012 at 11:28 PM. Reason : w]

2/3/2012 11:26:57 PM

I would say in the last year for myself. (27)
Finally got a job that pays well, and uses my talents.

Between my wife's job and mine we make enough to pay extra towards our mortgage and contribute to savings/ 401k. We don't have tons of disposable income, but we can afford something if we want it.
We have one new car that we make payments on, and one older car that has long been paid for.
We could save more, but we are enjoying life now before we get serious about having a kid and 'growing up' even more.

I say we don't have tons of disposable income, but I spend about $300 a month on my hobby. This will have to end in the next couple years as we consider getting a dog, and a kid.

2/4/2012 2:05:38 AM

^ Just throwing this out there: don't equate "growing up" with "having a kid." Screw societal norms about "having" to have a child unless you really want one. I've been having a ball as one of the only folks I know still kid-less.

2/4/2012 4:20:07 AM

I would mark two milestones: 24 and 29.

24 - I finally was able to clear my student loans and personal debts. I had a steady salary, began contributing toward retirement and was fully financially independent for the first time (up to that point, parents provided secondary support with regards to college and graduate school costs).

29 - The point where my wages and cushion were sufficiently high that I could make significant purchases and even do some international travel on impulse without jeopardizing my financial situation. This isn't to say that I stopped budgeting or whatnot, but if there was some significant purchase I needed to make, say a grand to buy a new television or fix my car, I could do it without taking on credit card debt or having to calculate whether or not I was jeopardizing my savings cushion.

2/6/2012 1:23:38 PM

[Edited on February 8, 2012 at 11:34 PM. Reason : woah]

2/8/2012 11:34:03 PM