alllovertheplace t1_itt1j1e wrote on October 26, 2022 at 2:17 AM

100k after taxes isn't that much, especially if you want to max out your retirement plans and plan to be paying a mortgage, plus all of the extra expenses that come with homeownership, which add up faster than you'd think.

Maybe if you plan to be very frugal in every other area of life, used car, not dining out or traveling much until you get a substantial raise, or buy a cheap home in an area with no property taxes.

Anything is doable if you're passionate enough and willing ti compromise in other areas, but to me it sounds pretty tight and like you'll have to make a lot of sacrifices to make it happen.

Seinfeld-Lyfe OP t1_itt536j wrote on October 26, 2022 at 2:46 AM

For sure! Yeah so my after taxes take home is pretty close to 100k. I felt like it would be easier to post that number and I’m now realizing that I need to go in there and put in “after taxes” in parentheses haha.

I agree! I’ve tried to be conservative in how much I would set aside monthly for repairs, capex, vacancy, etc and it would hopefully put my monthly housing expenditures down to around 900/month. Not free like you used to be able to do but it at least allows me to build equity while doing it. Luckily my car has been paid off since the 11th month after I bought it a few years ago too. I love cooking and cook at home almost entirely. I’m pretty frugal in those areas. I would be hoping that I could continue to instruct on the weekends or evenings after work on occasion just to offset the expense and build flight time.

All very good points! Thanks!