09/15/2022
Helpful…check this out…and let’s put this to work because $200,000 doesn’t get you anywhere 🤯.
Let’s assume your household makes $200,000 gross. That means you’re taking home less than $150,000 after taxes.
For the sake of matter, let’s say you put $20,000 in your 401(k) (that’s only $1,000 per paycheck and the worlds expected minimum!), that leaves you with $130,000 a year or $10,830 a month, now slash in and include debts: -$500 a month for gas and -$500 a month for groceries, now let’s take -$4000 out of that for a mortgage, property taxes, and homeowners insurance and then let’s back out two car payments of -$500 each, that’s $1000 against the total. Car insurance? YES! -100/car: $10,800 -$6,200 = $4,600 left over right?
Thought let’s take out the expenses that come with the home. Utilities, maintenance, unexpected issues, garbage removal, mechanical breakdowns, entertainment, streaming, Internet,… Hopefully you have a gym at home because if you don’t you’ve got gym memberships; let’s call this $1000 a month. You now have $3600 left and that seems like a lot of money doesn’t it?
That seems like a lot of money doesn’t it… But it isn’t, if you decide to have one kid you will pay close to $1500 a month to $2000 a month in day care (how many kids would you watch for $1500 a month?) in order for you to keep your job or one person‘s job within the household will have to end their job. $3600 -$1500 equals $2100 remaining.
If you decide to have two kids that daycare may go up $500-$1000 a month for what we call staggered-daycare. Let’s call at $600. 2100 -$600 equals $1500.… How much do you spend on the cell phone bill, how much do you spend on traveling, do you have new clothes in your closet, do you spend more for a car than the suggested amount above, do you go to dinners, do you have dry cleaning, remember that dog you just bought,… Feeling the pressure? $1500 a month after children is gone.
If you’re not preparing for those very early stages in your life and you don’t have the money budgeted to your plan, spending that and not saving it, the second you have a 👶…. follow for the rest…
