The whole “being pregnant” and going into “nesting” mode is real. I’ve been spending way too many hours scouring Redfin and Zillow despite knowing that I can’t afford a home here, other than maybe a 1 bed, 1 bath in a really bad part of the bad part of town.
So. I’m trying to focus my energy on longer-term, more realistic goals, while also ensuring that I keep my job in order to hit them.
- Age: I turn 35(!)
- Networth: Close out the year at $645k-$650k
- Housing: Live in 1 bedroom / 1 bath apartment (50% = $14.1k yr)
- 401k: invest $22.5k
- Stocks: invest $30k
- Baby #1: born, 0 – 5 mo
- Baby #2: not born yet
As I work to be better at budgeting, I searched the Internet for strategies for how much I should be spending on various items each month. I like the 50/20/30 strategy which seems reasonable and maybe even do-able.
Basically, you split your after-tax, after-401k take-home income into 3 buckets:
50% – fixed expenses
20% – financial goals
30% – variable expenses
So my after-tax income (now that I’ve maxed out my 401k for the year) is $9500. That breaks down to:
$1900 financial goals
$2850 variable expenses
The answer I get re: when is the best time to have kids is “there is never a best time to have kids.” I’m sure that is true, but there is definitely “a time when it becomes harder / impossible to have kids” (at least naturally), so I’m trying to make that deadline without pushing it too much.
When I was younger, I thought 30 was old. I’m now turning 33 in 3 months. Thirty-three is fine age to have kids, but I always thought I’d have my second by 33. Now I’m looking at not yet even having my first.