PR, not sure what you’re getting at with your reply.
I’ll have approximately $120K in net income (not including bonuses) and realistically will be in the home for about 12-15 years (once my youngest is established in college, which I already have fully funded). I am in a little different situation from a lot of you in that I am going to be receiving a govt. (military) pension starting this summer at the ripe old age of 42. This retirement check is for life and will start out at approximately $3,100 net and will adjust upward each year. Military retired pay rises each year to ensure that inflation does not erode the purchasing power of retirees, and raises are based on the CPI.
Annual expenses is kind of tricky, because I don’t need to fund a lot of the retirement savings most folks do as aggressively due to my military retirement. We have no debt (as in $0), two newer cars paid off. Kids college funds are already set (pre-paid plan in Florida for 4-yrs of university study) and if they want to go to school in California they will be afforded free tuition due to my injuries received on active duty.
All told, I anticipate a mortgage PITI of (gasp) $5,300 per month, with a net income of slightly over $10K per month.
I’d be more thatn happy to talk to you off-line at [email protected]
