16 ms·

I am 34 years old working remotely as data scientist, making $107k TC. My wife who I've been married to for 13 years is a stay-at-home mother as we have two chi

by jriot 7y ago

I am 34 years old working remotely as data scientist, making $107k TC. My wife who I've been married to for 13 years is a stay-at-home mother as we have two children in grade school. Since they are in the school she is turning in our half-acre into a sustainable garden with chickens. We own our home, are financially comfortable while saving $1500 a month, and travel. We were planning a 2-month trip to Japan this upcoming summer until we realized the Olympics are held there in 2020. In the end we will shift dates around to make it work. Aside from being active duty for 11 years which allowed me to complete through two graduate degrees without any student debt, was taking my first role after the military in a small town one and half hours from the nearest city; a small city at that. I stayed there for four years to get comfortable enough to work on my own without any oversight; soaked up all possible learning opportunities. When switching roles to my current job, I negotiated to work remotely, now I live 2500 miles from my employer. Cost of living is the same, but now I don't have to purchase airline tickets to see family. The number one advantage I see compared to others comes from the military. I complete all tasks asigned without complaining, and get them down without bothering those above me. Doesn't matter the task, if it is assigned and needs to be completed, I do it. Sometimes these are trivial, others would say beneath them, others are writing patent paperwork with the co-founder. This mindset has worked two-fold, I touch numerous areas of the business so my skill-set is well rounded, and my bosses are happy; work gets done without their involvement. Live below your means, take advantage of where you live, and maintain a simple life. Good things come to those who wait.

MuffinFlavored 7y ago
How much did you pay for your home? $100k/yr gross household income would make it rough to own a 3/2 single family home in South Florida.
- jriot 7y ago
  Our home was $348k - 4 bedrooms, 2 baths in Louisiana.
  - deleted 7y ago
    [deleted]
  - deleted 7y ago
    [deleted]
  - xupybd 7y ago
    As a single with no dependants I've purchased a home at $360k and with a student loan. It's only possible having boarders that pay rent and help with the bills. The value has increased so much that I don't think it would be possible to own a home in my area on my salary any more. Now I'm looking at getting married and the cost of living is going to be okay as long as we don't have kids soon. But I'm getting older and can't put that off too long. I don't understand the housing market to know why it's like this but I'm not sure it's sustainable. People aren't going to be able to afford to have families at this rate. Also, If interest rates ever go back up I'm done.
  - MuffinFlavored 7y ago
    20% down on $348k is $70k At $1,500/mo savings rate, it would take 46 months (3.83 years) to save up for your down payment (before closing costs/lending fees, but I'm not sure if those are rolled into your mortgage) This would leave you with a rough monthly payment (mortgage + interest + takes + insurance + HOA fees) of $1.8k-$2k (assuming 30 year mortgage at 4% interest rate) $100k gross is roughly $76k net (before any 401k/IRA contributions) $1.8k/mo for your mortgage * 12 months = $21.6k before any cable/water/electric/lawn/pool bills/repairs $4.5k/mo net income remaining after your house for food, cars, insurance, etc. You said $1.5k/mo savings which means $3k/mo for food, cars, insurance, travel, 401k contributions, repairs, going out, etc. I guess it is do-able. $3k/mo for 2 people does not sound terrible in the slightest.
    - lathiat 7y ago
      the rest of that budget can disappear quicker than you'd think though when you start putting in insurances, cars, fuel, groceries, etc.
    - ccvannorman 7y ago
- ccvannorman 7y ago
  How about some facts: This is literally the first result on RedFin with no filters[0] 3158 SW 153rd Path #3158 Miami, FL 33185 $329,900 3 Bed 2.5 Bath Est monthly $2620 [0] https://www.redfin.com/FL/Miami/3158-SW-153rd-Path-33185/unit-3158/home/169138266 https://www.redfin.com/FL/Miami/3158-SW-153rd-Path-33185/uni... It's not a walk in the park, but it's not "rough" either; 2620 a month after a ~6000/mo post-tax draw leaves you with 3380/mo for food, saving, etc.
hogFeast 7y ago
Thanks for telling everyone how great your life is going. I came here, and I was worried that I wouldn't hear about you and how well your life is going...but I am relieved now that I have heard how great your life is going. Serious comment as the above will totally tilt the neckbeards who will miss the point: housing is a problem in aggregate, bad policies are a function of local/individual thinking. Every thread about housing (or personal finance) has these comments - I have my pension so everyone else should be fine - they are dumb and part of the problem. What seems a logical viewpoint individually, is catastrophic in aggregate.
- dang 7y ago
  If you continue to break the site guidelines when posting here, we are going to have to ban you. Would you please review them and stick to them from now on? Specifically: no more snark, name-calling, flamebait, and ideological battle. Most importantly: be kind. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
bumby 7y ago
You touched on the education without student loans is a major benefit to the military. Another is the ability to buy a home with no money down and not have to pay mortgage insurance. It's easy for those in the military to feel like life is passing them by as they witness cohorts graduating earlier etc. but those benefits can make a big difference in the long run (not to mention the intangibles you brought up).
- jriot 7y ago
  That is true, but my wife and I were also separated for half of our first three years of marriage. As I deployed and shortly after I returned she deployed. We were also stationed in Turkey where at 4 months pregnant we learned the military would not allow her to give birth there anymore. She had to fly to the US with our older daughter at 7 months pregnant by herself and stay there until she gave birth. There are many pros to the military which have benefited us, but also many stresses those outside the military never deal with.
dsfyu404ed 7y ago
To add another couple data points: I am substantially younger, make exactly 100k/yr live within commuting distance of a grossly overpriced city full of people I want nothing to do with (read: expensive urban area known for tech and medicine) and made 90k/yr when I bought my house. I live in an city, not a nearly rural suburb, but it's not a rich city (thank god) but it has everything I need. I'm paying a few hundred dollars a month on debt, have a similarly sized discretionary budget, am maxing out my 401k and slowly building savings. The schools aren't great but they aren't bad, not my problem yet anyway. My buddy who is a teacher makes substantially less and has approximately the same situation but in a different slightly wealthier city and has a slightly smaller house. The DB administrator at my last job who was in his late 20s and made about 100k had the same situation in yet a different city. 100k is not a crazy number in this area. If you are in a blue collar trade you can make 100k by putting in your years to get licensed (BS gate keeping requirements make it impossible to get licenses/certs in most trades in this state without working several years) you can commute into that rich overpriced city that shall remain nameless and make 100k. The house across the block from me is on the market for ~200k. 150k on up seems to be the going rate for a turnkey single family house around here depending on size and condition. These aren't crazy prices. They're just not a neighborhood your snooty coworkers will approve of. My house was 150k but needed 20k of siding (screw that, next time I'm taking the week off from work, buying the staging and doing it my damn self for a fraction of the price) on day 1 and has never been updated inside. If you want to own a home and are willing to work for it you can own a home. You just can't own one in a neighborhood where everyone is richer than you. >Live below your means, take advantage of where you live, and maintain a simple life. Good things come to those who wait. Fully agree here. Simple life is key. You can't drive a nice car and go out drinking all the time and all those other things that cost money. You can do a few of them but you've gotta choose.
- BBalzagn 7y ago
  I see that you're very adamant on keeping the location anonymous, but I am vastly curious as to what region you are referencing to. I'm thinking perhaps Baltimore-Washington Area or even Houston.
  - 7y ago
Fjudcvju 7y ago
To be blunt, your post is completely tone-deaf. Has it ever occurred to you that your military benefits are part of the reason why nobody else in the US can afford housing? Why yes, life would be easier for most Americans if they could get 2 graduate degrees and healthcare for free. Oh wait, it's not "for free", its for "doing something most people consider morally abhorrent".
cylinder 7y ago
Is it possible they also like you because your TC is low? Nothing better than a compliant employee who doesn't demand market pay rates. IMO, in the optimal situation, both parties are a little unhappy.
- jriot 7y ago
  That is a good possibility. I complete the work assigned to me while being able to get a 1.5-hour workout at the gym and my wife does a 20 to a 50 mile bike ride every day. TC might be low but my and my family's health appears far better than most of my peers. Less money, but our health is a better long term investment.
GoodJokes 7y ago
You should really get an award for this humblebrag. Are you running for President? What is your deal? Booootlicker

by jriot 7y ago

MuffinFlavored 7y ago

How much did you pay for your home? $100k/yr gross household income would make it rough to own a 3/2 single family home in South Florida.

jriot 7y ago
Our home was $348k - 4 bedrooms, 2 baths in Louisiana.
- deleted 7y ago
  [deleted]
- deleted 7y ago
  [deleted]
- xupybd 7y ago
  As a single with no dependants I've purchased a home at $360k and with a student loan. It's only possible having boarders that pay rent and help with the bills. The value has increased so much that I don't think it would be possible to own a home in my area on my salary any more. Now I'm looking at getting married and the cost of living is going to be okay as long as we don't have kids soon. But I'm getting older and can't put that off too long. I don't understand the housing market to know why it's like this but I'm not sure it's sustainable. People aren't going to be able to afford to have families at this rate. Also, If interest rates ever go back up I'm done.
- MuffinFlavored 7y ago
  20% down on $348k is $70k At $1,500/mo savings rate, it would take 46 months (3.83 years) to save up for your down payment (before closing costs/lending fees, but I'm not sure if those are rolled into your mortgage) This would leave you with a rough monthly payment (mortgage + interest + takes + insurance + HOA fees) of $1.8k-$2k (assuming 30 year mortgage at 4% interest rate) $100k gross is roughly $76k net (before any 401k/IRA contributions) $1.8k/mo for your mortgage * 12 months = $21.6k before any cable/water/electric/lawn/pool bills/repairs $4.5k/mo net income remaining after your house for food, cars, insurance, etc. You said $1.5k/mo savings which means $3k/mo for food, cars, insurance, travel, 401k contributions, repairs, going out, etc. I guess it is do-able. $3k/mo for 2 people does not sound terrible in the slightest.
  - lathiat 7y ago
    the rest of that budget can disappear quicker than you'd think though when you start putting in insurances, cars, fuel, groceries, etc.
  - ccvannorman 7y ago
ccvannorman 7y ago
How about some facts: This is literally the first result on RedFin with no filters[0] 3158 SW 153rd Path #3158 Miami, FL 33185 $329,900 3 Bed 2.5 Bath Est monthly $2620 [0] https://www.redfin.com/FL/Miami/3158-SW-153rd-Path-33185/unit-3158/home/169138266 https://www.redfin.com/FL/Miami/3158-SW-153rd-Path-33185/uni... It's not a walk in the park, but it's not "rough" either; 2620 a month after a ~6000/mo post-tax draw leaves you with 3380/mo for food, saving, etc.

hogFeast 7y ago

Thanks for telling everyone how great your life is going. I came here, and I was worried that I wouldn't hear about you and how well your life is going...but I am relieved now that I have heard how great your life is going. Serious comment as the above will totally tilt the neckbeards who will miss the point: housing is a problem in aggregate, bad policies are a function of local/individual thinking. Every thread about housing (or personal finance) has these comments - I have my pension so everyone else should be fine - they are dumb and part of the problem. What seems a logical viewpoint individually, is catastrophic in aggregate.

dang 7y ago
If you continue to break the site guidelines when posting here, we are going to have to ban you. Would you please review them and stick to them from now on? Specifically: no more snark, name-calling, flamebait, and ideological battle. Most importantly: be kind. https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html

bumby 7y ago

You touched on the education without student loans is a major benefit to the military. Another is the ability to buy a home with no money down and not have to pay mortgage insurance. It's easy for those in the military to feel like life is passing them by as they witness cohorts graduating earlier etc. but those benefits can make a big difference in the long run (not to mention the intangibles you brought up).

jriot 7y ago
That is true, but my wife and I were also separated for half of our first three years of marriage. As I deployed and shortly after I returned she deployed. We were also stationed in Turkey where at 4 months pregnant we learned the military would not allow her to give birth there anymore. She had to fly to the US with our older daughter at 7 months pregnant by herself and stay there until she gave birth. There are many pros to the military which have benefited us, but also many stresses those outside the military never deal with.

dsfyu404ed 7y ago

To add another couple data points: I am substantially younger, make exactly 100k/yr live within commuting distance of a grossly overpriced city full of people I want nothing to do with (read: expensive urban area known for tech and medicine) and made 90k/yr when I bought my house. I live in an city, not a nearly rural suburb, but it's not a rich city (thank god) but it has everything I need. I'm paying a few hundred dollars a month on debt, have a similarly sized discretionary budget, am maxing out my 401k and slowly building savings. The schools aren't great but they aren't bad, not my problem yet anyway. My buddy who is a teacher makes substantially less and has approximately the same situation but in a different slightly wealthier city and has a slightly smaller house. The DB administrator at my last job who was in his late 20s and made about 100k had the same situation in yet a different city. 100k is not a crazy number in this area. If you are in a blue collar trade you can make 100k by putting in your years to get licensed (BS gate keeping requirements make it impossible to get licenses/certs in most trades in this state without working several years) you can commute into that rich overpriced city that shall remain nameless and make 100k. The house across the block from me is on the market for ~200k. 150k on up seems to be the going rate for a turnkey single family house around here depending on size and condition. These aren't crazy prices. They're just not a neighborhood your snooty coworkers will approve of. My house was 150k but needed 20k of siding (screw that, next time I'm taking the week off from work, buying the staging and doing it my damn self for a fraction of the price) on day 1 and has never been updated inside. If you want to own a home and are willing to work for it you can own a home. You just can't own one in a neighborhood where everyone is richer than you. >Live below your means, take advantage of where you live, and maintain a simple life. Good things come to those who wait. Fully agree here. Simple life is key. You can't drive a nice car and go out drinking all the time and all those other things that cost money. You can do a few of them but you've gotta choose.

BBalzagn 7y ago
I see that you're very adamant on keeping the location anonymous, but I am vastly curious as to what region you are referencing to. I'm thinking perhaps Baltimore-Washington Area or even Houston.
- 7y ago

Fjudcvju 7y ago

To be blunt, your post is completely tone-deaf. Has it ever occurred to you that your military benefits are part of the reason why nobody else in the US can afford housing? Why yes, life would be easier for most Americans if they could get 2 graduate degrees and healthcare for free. Oh wait, it's not "for free", its for "doing something most people consider morally abhorrent".

cylinder 7y ago

Is it possible they also like you because your TC is low? Nothing better than a compliant employee who doesn't demand market pay rates. IMO, in the optimal situation, both parties are a little unhappy.

jriot 7y ago
That is a good possibility. I complete the work assigned to me while being able to get a 1.5-hour workout at the gym and my wife does a 20 to a 50 mile bike ride every day. TC might be low but my and my family's health appears far better than most of my peers. Less money, but our health is a better long term investment.

GoodJokes 7y ago

You should really get an award for this humblebrag. Are you running for President? What is your deal? Booootlicker