Distribution of Wealth in SD County

[Jim Jones]

Can I just say:

Finally a decent thread on the South Bay housing market I’ve only been waiting a year for a good one to pop up.

I would like to hear what some of your assessments are for the area over the next year or so.

[Scarlett]

[quote=AN]But it’s possible if one strive to achieve it. Having kids is only expensive if you want it to be. They don’t need brand new clothes, hand me down would do just fine.[/quote]
Hah! For 15 years one would dress his kids in hand-me downs, when they have 150K HH, you think? maybe only when they are little…Never mind clothes, diapers, toys, books, activities, after-hours care. Daycare, now that costs on average $1000 per month, for the first 5 years. And college funds – a few hundred month per kid.

[quote=AN]Are you disputing that it’s possible to save $4k/month for a HH that make $150k/yr?[/quote]

Impossible? No. But HIGHLY IMPROBABLE. that’s why we are saying it’s not realistic. Spending the best part of your life living like a miser and pinching pennies is not many’s idea of living.

[quote=AN]If you find it too tough to save $2k/month, how about saving $1k/month instead? @8% return each year, you’ll amass $1.5M after 30 years. If you start at 25, you’ll be 60 when you have $1.5M. Is it tough to save $1k/month when you’re making $150k/yr? [/quote]

Now that’s more doable. Assuming you don’t buy a house by age 60. But why didn’t you give this example that is much easier to accomplish in the first place, I wonder.

[quote=AN]Another point I want to make is, it’s much easier to amass a large asset if you start early. Compound interest works in your favor.
[/quote]
Of course, we all here know that.

Anyway, it is instructive to hear these discussions. My spouse and I, with PhDs and postdocs under our belt, we haven’t gotten to the 150K HH until after we were 40 with kids…So no chance of getting to 1 M before we retire. To think that with RN degrees we would have had a much better life…Makes one wonder about the value of higher education… But I digress.

[Scarlett]

[quote=AN]But it’s possible if one strive to achieve it. Having kids is only expensive if you want it to be. They don’t need brand new clothes, hand me down would do just fine.[/quote]
Hah! For 15 years one would dress his kids in hand-me downs, when they have 150K HH, you think? maybe only when they are little…Never mind clothes, diapers, toys, books, activities, after-hours care. Daycare, now that costs on average $1000 per month, for the first 5 years. And college funds – a few hundred month per kid.

[quote=AN]Are you disputing that it’s possible to save $4k/month for a HH that make $150k/yr?[/quote]

Impossible? No. But HIGHLY IMPROBABLE. that’s why we are saying it’s not realistic. Spending the best part of your life living like a miser and pinching pennies is not many’s idea of living.

[quote=AN]If you find it too tough to save $2k/month, how about saving $1k/month instead? @8% return each year, you’ll amass $1.5M after 30 years. If you start at 25, you’ll be 60 when you have $1.5M. Is it tough to save $1k/month when you’re making $150k/yr? [/quote]

Now that’s more doable. Assuming you don’t buy a house by age 60. But why didn’t you give this example that is much easier to accomplish in the first place, I wonder.

[quote=AN]Another point I want to make is, it’s much easier to amass a large asset if you start early. Compound interest works in your favor.
[/quote]
Of course, we all here know that.

Anyway, it is instructive to hear these discussions. My spouse and I, with PhDs and postdocs under our belt, we haven’t gotten to the 150K HH until after we were 40 with kids…So no chance of getting to 1 M before we retire. To think that with RN degrees we would have had a much better life…Makes one wonder about the value of higher education… But I digress.

[Scarlett]

[quote=AN]But it’s possible if one strive to achieve it. Having kids is only expensive if you want it to be. They don’t need brand new clothes, hand me down would do just fine.[/quote]
Hah! For 15 years one would dress his kids in hand-me downs, when they have 150K HH, you think? maybe only when they are little…Never mind clothes, diapers, toys, books, activities, after-hours care. Daycare, now that costs on average $1000 per month, for the first 5 years. And college funds – a few hundred month per kid.

[quote=AN]Are you disputing that it’s possible to save $4k/month for a HH that make $150k/yr?[/quote]

Impossible? No. But HIGHLY IMPROBABLE. that’s why we are saying it’s not realistic. Spending the best part of your life living like a miser and pinching pennies is not many’s idea of living.

[quote=AN]If you find it too tough to save $2k/month, how about saving $1k/month instead? @8% return each year, you’ll amass $1.5M after 30 years. If you start at 25, you’ll be 60 when you have $1.5M. Is it tough to save $1k/month when you’re making $150k/yr? [/quote]

Now that’s more doable. Assuming you don’t buy a house by age 60. But why didn’t you give this example that is much easier to accomplish in the first place, I wonder.

[quote=AN]Another point I want to make is, it’s much easier to amass a large asset if you start early. Compound interest works in your favor.
[/quote]
Of course, we all here know that.

Anyway, it is instructive to hear these discussions. My spouse and I, with PhDs and postdocs under our belt, we haven’t gotten to the 150K HH until after we were 40 with kids…So no chance of getting to 1 M before we retire. To think that with RN degrees we would have had a much better life…Makes one wonder about the value of higher education… But I digress.

[Scarlett]

[quote=AN]But it’s possible if one strive to achieve it. Having kids is only expensive if you want it to be. They don’t need brand new clothes, hand me down would do just fine.[/quote]
Hah! For 15 years one would dress his kids in hand-me downs, when they have 150K HH, you think? maybe only when they are little…Never mind clothes, diapers, toys, books, activities, after-hours care. Daycare, now that costs on average $1000 per month, for the first 5 years. And college funds – a few hundred month per kid.

[quote=AN]Are you disputing that it’s possible to save $4k/month for a HH that make $150k/yr?[/quote]

Impossible? No. But HIGHLY IMPROBABLE. that’s why we are saying it’s not realistic. Spending the best part of your life living like a miser and pinching pennies is not many’s idea of living.

[quote=AN]If you find it too tough to save $2k/month, how about saving $1k/month instead? @8% return each year, you’ll amass $1.5M after 30 years. If you start at 25, you’ll be 60 when you have $1.5M. Is it tough to save $1k/month when you’re making $150k/yr? [/quote]

Now that’s more doable. Assuming you don’t buy a house by age 60. But why didn’t you give this example that is much easier to accomplish in the first place, I wonder.

[quote=AN]Another point I want to make is, it’s much easier to amass a large asset if you start early. Compound interest works in your favor.
[/quote]
Of course, we all here know that.

Anyway, it is instructive to hear these discussions. My spouse and I, with PhDs and postdocs under our belt, we haven’t gotten to the 150K HH until after we were 40 with kids…So no chance of getting to 1 M before we retire. To think that with RN degrees we would have had a much better life…Makes one wonder about the value of higher education… But I digress.

[Scarlett]

[quote=AN]But it’s possible if one strive to achieve it. Having kids is only expensive if you want it to be. They don’t need brand new clothes, hand me down would do just fine.[/quote]
Hah! For 15 years one would dress his kids in hand-me downs, when they have 150K HH, you think? maybe only when they are little…Never mind clothes, diapers, toys, books, activities, after-hours care. Daycare, now that costs on average $1000 per month, for the first 5 years. And college funds – a few hundred month per kid.

[quote=AN]Are you disputing that it’s possible to save $4k/month for a HH that make $150k/yr?[/quote]

Impossible? No. But HIGHLY IMPROBABLE. that’s why we are saying it’s not realistic. Spending the best part of your life living like a miser and pinching pennies is not many’s idea of living.

[quote=AN]If you find it too tough to save $2k/month, how about saving $1k/month instead? @8% return each year, you’ll amass $1.5M after 30 years. If you start at 25, you’ll be 60 when you have $1.5M. Is it tough to save $1k/month when you’re making $150k/yr? [/quote]

Now that’s more doable. Assuming you don’t buy a house by age 60. But why didn’t you give this example that is much easier to accomplish in the first place, I wonder.

[quote=AN]Another point I want to make is, it’s much easier to amass a large asset if you start early. Compound interest works in your favor.
[/quote]
Of course, we all here know that.

Anyway, it is instructive to hear these discussions. My spouse and I, with PhDs and postdocs under our belt, we haven’t gotten to the 150K HH until after we were 40 with kids…So no chance of getting to 1 M before we retire. To think that with RN degrees we would have had a much better life…Makes one wonder about the value of higher education… But I digress.

[an]

scarlett, thanks for being civil. The reason why I use the original example is because I make less than that and I can save around that much a month and I’m not nearly as frugal as some people I know. I didn’t know it was that unreasonable. Thanks for bringing me back to reality. If one of the spouse is a RN, then you don’t need to send your kids to day care because the RN spouse can work only on weekend. I do have a kid, so I have all of the expenses you listed minus the daycare, including college fund.

[an]

scarlett, thanks for being civil. The reason why I use the original example is because I make less than that and I can save around that much a month and I’m not nearly as frugal as some people I know. I didn’t know it was that unreasonable. Thanks for bringing me back to reality. If one of the spouse is a RN, then you don’t need to send your kids to day care because the RN spouse can work only on weekend. I do have a kid, so I have all of the expenses you listed minus the daycare, including college fund.

[an]

scarlett, thanks for being civil. The reason why I use the original example is because I make less than that and I can save around that much a month and I’m not nearly as frugal as some people I know. I didn’t know it was that unreasonable. Thanks for bringing me back to reality. If one of the spouse is a RN, then you don’t need to send your kids to day care because the RN spouse can work only on weekend. I do have a kid, so I have all of the expenses you listed minus the daycare, including college fund.

[an]

scarlett, thanks for being civil. The reason why I use the original example is because I make less than that and I can save around that much a month and I’m not nearly as frugal as some people I know. I didn’t know it was that unreasonable. Thanks for bringing me back to reality. If one of the spouse is a RN, then you don’t need to send your kids to day care because the RN spouse can work only on weekend. I do have a kid, so I have all of the expenses you listed minus the daycare, including college fund.

[an]

scarlett, thanks for being civil. The reason why I use the original example is because I make less than that and I can save around that much a month and I’m not nearly as frugal as some people I know. I didn’t know it was that unreasonable. Thanks for bringing me back to reality. If one of the spouse is a RN, then you don’t need to send your kids to day care because the RN spouse can work only on weekend. I do have a kid, so I have all of the expenses you listed minus the daycare, including college fund.

[UCGal]

[quote=Scarlett][quote=AN]But it’s possible if one strive to achieve it. Having kids is only expensive if you want it to be. They don’t need brand new clothes, hand me down would do just fine.[/quote]
Hah! For 15 years one would dress his kids in hand-me downs, when they have 150K HH, you think? maybe only when they are little…Never mind clothes, diapers, toys, books, activities, after-hours care. Daycare, now that costs on average $1000 per month, for the first 5 years. And college funds – a few hundred month per kid.
[/quote]
I think I already got beat up by fashion mavens like flu for not buying Childrens Place, Gymbo, etc clothes for my kids. LOL.

And I would put college fund savings in the overall savings catagory. I fund my kids 529’s and in my book it is still savings, even if it is designated.

I would agree that it’s hard to save a lot when the kids are in preschool… daycare expenses in San Diego are outragious. It was like getting a raise when my youngest went to kindergarten.

[UCGal]

[quote=Scarlett][quote=AN]But it’s possible if one strive to achieve it. Having kids is only expensive if you want it to be. They don’t need brand new clothes, hand me down would do just fine.[/quote]
Hah! For 15 years one would dress his kids in hand-me downs, when they have 150K HH, you think? maybe only when they are little…Never mind clothes, diapers, toys, books, activities, after-hours care. Daycare, now that costs on average $1000 per month, for the first 5 years. And college funds – a few hundred month per kid.
[/quote]
I think I already got beat up by fashion mavens like flu for not buying Childrens Place, Gymbo, etc clothes for my kids. LOL.

And I would put college fund savings in the overall savings catagory. I fund my kids 529’s and in my book it is still savings, even if it is designated.

I would agree that it’s hard to save a lot when the kids are in preschool… daycare expenses in San Diego are outragious. It was like getting a raise when my youngest went to kindergarten.

[UCGal]

[quote=Scarlett][quote=AN]But it’s possible if one strive to achieve it. Having kids is only expensive if you want it to be. They don’t need brand new clothes, hand me down would do just fine.[/quote]
Hah! For 15 years one would dress his kids in hand-me downs, when they have 150K HH, you think? maybe only when they are little…Never mind clothes, diapers, toys, books, activities, after-hours care. Daycare, now that costs on average $1000 per month, for the first 5 years. And college funds – a few hundred month per kid.
[/quote]
I think I already got beat up by fashion mavens like flu for not buying Childrens Place, Gymbo, etc clothes for my kids. LOL.

And I would put college fund savings in the overall savings catagory. I fund my kids 529’s and in my book it is still savings, even if it is designated.

I would agree that it’s hard to save a lot when the kids are in preschool… daycare expenses in San Diego are outragious. It was like getting a raise when my youngest went to kindergarten.

[UCGal]

[quote=Scarlett][quote=AN]But it’s possible if one strive to achieve it. Having kids is only expensive if you want it to be. They don’t need brand new clothes, hand me down would do just fine.[/quote]
Hah! For 15 years one would dress his kids in hand-me downs, when they have 150K HH, you think? maybe only when they are little…Never mind clothes, diapers, toys, books, activities, after-hours care. Daycare, now that costs on average $1000 per month, for the first 5 years. And college funds – a few hundred month per kid.
[/quote]
I think I already got beat up by fashion mavens like flu for not buying Childrens Place, Gymbo, etc clothes for my kids. LOL.

And I would put college fund savings in the overall savings catagory. I fund my kids 529’s and in my book it is still savings, even if it is designated.

I would agree that it’s hard to save a lot when the kids are in preschool… daycare expenses in San Diego are outragious. It was like getting a raise when my youngest went to kindergarten.

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