Help with some financial planning

Then you are clearly mistaken. I wrote nothing that was discriminatory or chauvinistic. I merely stated a fact. A fact is neither positive or negative, it just is.

The fact is that when a 2nd spouse enters the work force, and has to obtain day care and transportation, the net profit from such an adventure is normally relatively small, often times hardly worth the effort. In our society, that 2nd spouse is most often the woman of the family. I am sorry if you don't like how our society works, but don't take it out on me if you don't like the facts.

Of course, there are exceptions. 1% of the workforce are people who earn in the top 1%. 5% of the workforce are people who earn in the top 5%. The other 95% are in the bottom 95%. Again, you don't have to like that, but since it is a fact, you cannot argue if it is true or not.

-john-

My Roth IRA was fully funded all those years, car was paid off prior to moving in. Wife made 50% of my salary at the time.

John was right and I do think bad he made that conclusion (even if it were wrong). When I started with this company we were paid once per month at the END of the month. That was tough first 6 weeks.

Between the two of us we make great money. My wife has much higher earning potential in her field (Human Resources) than mine (software). My salary has nearly doubled the 7 years I've worked in this job, but I'm smart enough to see most of my wife friend's make 6 figures and that will come to her in due time.

======================================= MODERATOR'S COMMENT: Please trim the post to which you are responding. "Trim" means that except for a FEW lines to add context, the previous post is deleted.

TYPO

In article , "John A. Weeks III" wrote: [stuff deleted]

I'm late to this discussion, but in many parts of this country a 3x income home price is unrealistic...median income for a household is around 80k around here (Zip 92630) but the median house is around 650k and it's not what I would call an upscale neighborhood (relatively speaking) just plain old tract homes mostly. 3 x 80k = 240k, short 410k is it any wonder some take out interest-only loans, the alternative is commuting 1 - 1.5 hrs each way or renting a 1 bdrm apt for $1600+ if you can find a vacancy (good luck.) Of course one could always move to a less desirable/cheaper area but at what other non-$ cost?...it's a tough situation.

This is where you apply the U-Haul solution. Houses are available in nearly every city in the vast United States. They range in price from a few thousand dollars to millions of dollars. If you live some place where your income cannot afford to buy a home, you have two choices--increase your income, or go some other place where your income will support a reasonable house. Humans have migrated all over this planet in search of the right economic conditions to live and raise a family. You have that same ability to find a better hunting grounds, and in fact, you have a moral responsibility to your family to do so.

Lets say you do get that $650K loan on an $80K income. $80k will net biweekly paychecks of about $2000. If, by some miracle, you get a 6% fixed loan, the interest only that first month is going to be $3250. What good does that do? It eats up almost all of your monthly income. If you can feed your family on the left over money, who is going to pay for heat, lights, car, property tax, etc?

I guess that is why I see so many two story homes where half of the rooms on the lower level have absolutely no furniture what so ever, and the rest looks like it came from good-will?

-john-

I thought I heard someone outside my window...

-Will