[UCGal]

A couple of points.
* Most school districts have longer school years than 9 months. San Diego unified is closer to 10 months. (Gets out mid June, teacher report back mid-August.)

* The OP talked about a high school math/physics teacher. So it’s reasonable to compare education to an engineer. And the 70k salary suggests a masters degree. San Diego Unified posts their salary grades online. It maxes out at 87.6k for a 200day contract – that’s for a teacher with a masters, plus 90 additional academic units, plus max tenure.

(Link to San Diego Unified teacher pay scale:
http://www.sandi.net/20451072011454857/lib/20451072011454857/salaryschedules/teachers.pdf
Note – teachers are on 200 day contracts – see page 9 for annual salaries.)

I’m an engineer. I’ve known well paid engineers who didn’t even have a bachelors degree – worked they’re way up from being a tech or started in some other field and ‘fell into’ software or embedded programming. Some were talented… some more talented than their coworkers who had advanced engineering degrees.

I’ve also know well paid engineers who are NOT worth the salary their paid. I think there are losers and lazy people in every field.

[UCGal]

A couple of points.
* Most school districts have longer school years than 9 months. San Diego unified is closer to 10 months. (Gets out mid June, teacher report back mid-August.)

* The OP talked about a high school math/physics teacher. So it’s reasonable to compare education to an engineer. And the 70k salary suggests a masters degree. San Diego Unified posts their salary grades online. It maxes out at 87.6k for a 200day contract – that’s for a teacher with a masters, plus 90 additional academic units, plus max tenure.

(Link to San Diego Unified teacher pay scale:
http://www.sandi.net/20451072011454857/lib/20451072011454857/salaryschedules/teachers.pdf
Note – teachers are on 200 day contracts – see page 9 for annual salaries.)

I’m an engineer. I’ve known well paid engineers who didn’t even have a bachelors degree – worked they’re way up from being a tech or started in some other field and ‘fell into’ software or embedded programming. Some were talented… some more talented than their coworkers who had advanced engineering degrees.

I’ve also know well paid engineers who are NOT worth the salary their paid. I think there are losers and lazy people in every field.

[UCGal]

A couple of points.
* Most school districts have longer school years than 9 months. San Diego unified is closer to 10 months. (Gets out mid June, teacher report back mid-August.)

* The OP talked about a high school math/physics teacher. So it’s reasonable to compare education to an engineer. And the 70k salary suggests a masters degree. San Diego Unified posts their salary grades online. It maxes out at 87.6k for a 200day contract – that’s for a teacher with a masters, plus 90 additional academic units, plus max tenure.

(Link to San Diego Unified teacher pay scale:
http://www.sandi.net/20451072011454857/lib/20451072011454857/salaryschedules/teachers.pdf
Note – teachers are on 200 day contracts – see page 9 for annual salaries.)

I’m an engineer. I’ve known well paid engineers who didn’t even have a bachelors degree – worked they’re way up from being a tech or started in some other field and ‘fell into’ software or embedded programming. Some were talented… some more talented than their coworkers who had advanced engineering degrees.

I’ve also know well paid engineers who are NOT worth the salary their paid. I think there are losers and lazy people in every field.

[UCGal]

I personally abhor paying more in avoidable charges. PMI is an avoidable charge.

But as DWCAP says – it depends on where you are pulling the money from. Do you have your safety net money (several months reserves set aside.) Do you have 401k, 529 funds, etc for other long term savings goals.

I would also ask – why you would want to pay PMI and interest on the 40k? Are you worried that you’ll lose the money if the house goes down in value between purchase and sale? Is your goal to live there a few years, or to hold it, live in it, long term… eventually paying off the mortgage?

My mindset is different on this type of question because we have no intention of selling – so we’re trying to pay off our mortgage – with extra principal payments each month. I am personally uncomfortable with the idea of looking at the house I live in as a cash cow… it’s a home, it’s shelter, and the mortgage is an expense I can eliminate to reduce my retirement expenses. I’m very risk adverse. So factor those twisted notions into my advice…

My advise is to put the money down if you don’t have to rob another savings goal to do it. Why pay interest and PMI if you can avoid that expense.

But if you’re planning on selling in a few years my advise is completely opposite… My advise there is to ask why you’re buying rather than renting… you’re going to incur transaction costs, risk your down, etc. Look long and hard at why you are purchasing if it’s not a long term hold.

[UCGal]

I personally abhor paying more in avoidable charges. PMI is an avoidable charge.

But as DWCAP says – it depends on where you are pulling the money from. Do you have your safety net money (several months reserves set aside.) Do you have 401k, 529 funds, etc for other long term savings goals.

I would also ask – why you would want to pay PMI and interest on the 40k? Are you worried that you’ll lose the money if the house goes down in value between purchase and sale? Is your goal to live there a few years, or to hold it, live in it, long term… eventually paying off the mortgage?

My mindset is different on this type of question because we have no intention of selling – so we’re trying to pay off our mortgage – with extra principal payments each month. I am personally uncomfortable with the idea of looking at the house I live in as a cash cow… it’s a home, it’s shelter, and the mortgage is an expense I can eliminate to reduce my retirement expenses. I’m very risk adverse. So factor those twisted notions into my advice…

My advise is to put the money down if you don’t have to rob another savings goal to do it. Why pay interest and PMI if you can avoid that expense.

But if you’re planning on selling in a few years my advise is completely opposite… My advise there is to ask why you’re buying rather than renting… you’re going to incur transaction costs, risk your down, etc. Look long and hard at why you are purchasing if it’s not a long term hold.

[UCGal]

I personally abhor paying more in avoidable charges. PMI is an avoidable charge.

But as DWCAP says – it depends on where you are pulling the money from. Do you have your safety net money (several months reserves set aside.) Do you have 401k, 529 funds, etc for other long term savings goals.

I would also ask – why you would want to pay PMI and interest on the 40k? Are you worried that you’ll lose the money if the house goes down in value between purchase and sale? Is your goal to live there a few years, or to hold it, live in it, long term… eventually paying off the mortgage?

My mindset is different on this type of question because we have no intention of selling – so we’re trying to pay off our mortgage – with extra principal payments each month. I am personally uncomfortable with the idea of looking at the house I live in as a cash cow… it’s a home, it’s shelter, and the mortgage is an expense I can eliminate to reduce my retirement expenses. I’m very risk adverse. So factor those twisted notions into my advice…

My advise is to put the money down if you don’t have to rob another savings goal to do it. Why pay interest and PMI if you can avoid that expense.

But if you’re planning on selling in a few years my advise is completely opposite… My advise there is to ask why you’re buying rather than renting… you’re going to incur transaction costs, risk your down, etc. Look long and hard at why you are purchasing if it’s not a long term hold.

[UCGal]

I personally abhor paying more in avoidable charges. PMI is an avoidable charge.

But as DWCAP says – it depends on where you are pulling the money from. Do you have your safety net money (several months reserves set aside.) Do you have 401k, 529 funds, etc for other long term savings goals.

I would also ask – why you would want to pay PMI and interest on the 40k? Are you worried that you’ll lose the money if the house goes down in value between purchase and sale? Is your goal to live there a few years, or to hold it, live in it, long term… eventually paying off the mortgage?

My mindset is different on this type of question because we have no intention of selling – so we’re trying to pay off our mortgage – with extra principal payments each month. I am personally uncomfortable with the idea of looking at the house I live in as a cash cow… it’s a home, it’s shelter, and the mortgage is an expense I can eliminate to reduce my retirement expenses. I’m very risk adverse. So factor those twisted notions into my advice…

My advise is to put the money down if you don’t have to rob another savings goal to do it. Why pay interest and PMI if you can avoid that expense.

But if you’re planning on selling in a few years my advise is completely opposite… My advise there is to ask why you’re buying rather than renting… you’re going to incur transaction costs, risk your down, etc. Look long and hard at why you are purchasing if it’s not a long term hold.

[UCGal]

I personally abhor paying more in avoidable charges. PMI is an avoidable charge.

But as DWCAP says – it depends on where you are pulling the money from. Do you have your safety net money (several months reserves set aside.) Do you have 401k, 529 funds, etc for other long term savings goals.

I would also ask – why you would want to pay PMI and interest on the 40k? Are you worried that you’ll lose the money if the house goes down in value between purchase and sale? Is your goal to live there a few years, or to hold it, live in it, long term… eventually paying off the mortgage?

My mindset is different on this type of question because we have no intention of selling – so we’re trying to pay off our mortgage – with extra principal payments each month. I am personally uncomfortable with the idea of looking at the house I live in as a cash cow… it’s a home, it’s shelter, and the mortgage is an expense I can eliminate to reduce my retirement expenses. I’m very risk adverse. So factor those twisted notions into my advice…

My advise is to put the money down if you don’t have to rob another savings goal to do it. Why pay interest and PMI if you can avoid that expense.

But if you’re planning on selling in a few years my advise is completely opposite… My advise there is to ask why you’re buying rather than renting… you’re going to incur transaction costs, risk your down, etc. Look long and hard at why you are purchasing if it’s not a long term hold.

[UCGal]

There is a shortage of certified/credentialed high school math and science teachers – I suspect that factors into your cousins pay.

There are other factors – if your cousin has an advanced degree, that ups the base pay. Years of service ups it.

Your cousin may not do outside prep work – but my sister (elementary school) works about 80 hours/week. I think there are some lazy teachers and there are teachers like my sister… You can’t lump them as all the same and generalize.

My sister left a much more lucrative career to follow her passion to teach. She’s pretty much maxed out on salary and still makes about half what she was making in the private sector.

[UCGal]

There is a shortage of certified/credentialed high school math and science teachers – I suspect that factors into your cousins pay.

There are other factors – if your cousin has an advanced degree, that ups the base pay. Years of service ups it.

Your cousin may not do outside prep work – but my sister (elementary school) works about 80 hours/week. I think there are some lazy teachers and there are teachers like my sister… You can’t lump them as all the same and generalize.

My sister left a much more lucrative career to follow her passion to teach. She’s pretty much maxed out on salary and still makes about half what she was making in the private sector.

[UCGal]

There is a shortage of certified/credentialed high school math and science teachers – I suspect that factors into your cousins pay.

There are other factors – if your cousin has an advanced degree, that ups the base pay. Years of service ups it.

Your cousin may not do outside prep work – but my sister (elementary school) works about 80 hours/week. I think there are some lazy teachers and there are teachers like my sister… You can’t lump them as all the same and generalize.

My sister left a much more lucrative career to follow her passion to teach. She’s pretty much maxed out on salary and still makes about half what she was making in the private sector.

[UCGal]

There is a shortage of certified/credentialed high school math and science teachers – I suspect that factors into your cousins pay.

There are other factors – if your cousin has an advanced degree, that ups the base pay. Years of service ups it.

Your cousin may not do outside prep work – but my sister (elementary school) works about 80 hours/week. I think there are some lazy teachers and there are teachers like my sister… You can’t lump them as all the same and generalize.

My sister left a much more lucrative career to follow her passion to teach. She’s pretty much maxed out on salary and still makes about half what she was making in the private sector.

[UCGal]

There is a shortage of certified/credentialed high school math and science teachers – I suspect that factors into your cousins pay.

There are other factors – if your cousin has an advanced degree, that ups the base pay. Years of service ups it.

Your cousin may not do outside prep work – but my sister (elementary school) works about 80 hours/week. I think there are some lazy teachers and there are teachers like my sister… You can’t lump them as all the same and generalize.

My sister left a much more lucrative career to follow her passion to teach. She’s pretty much maxed out on salary and still makes about half what she was making in the private sector.

[UCGal]

[quote=ucodegen]

If your contractor says they need the money up front to buy materials – offer to issue a joint check -made payable to the contractor and the supplier.

To me, a contractor asking you to pay for materials up front is a big red flag unless they are a very small outfit. They need to have at least enough money for wages between progress payments. If they are so tight that they can not cover materials, I would get suspicious.[/quote]
Not only that… it’s a red flag that the contractor has crappy credit with suppliers… Most suppliers have 30-60 day terms for contractors with good credit. If the supplier wants cash from the contractor – that’s a BAD sign.

[UCGal]

[quote=ucodegen]

If your contractor says they need the money up front to buy materials – offer to issue a joint check -made payable to the contractor and the supplier.

To me, a contractor asking you to pay for materials up front is a big red flag unless they are a very small outfit. They need to have at least enough money for wages between progress payments. If they are so tight that they can not cover materials, I would get suspicious.[/quote]
Not only that… it’s a red flag that the contractor has crappy credit with suppliers… Most suppliers have 30-60 day terms for contractors with good credit. If the supplier wants cash from the contractor – that’s a BAD sign.

[Author]

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