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Old 10-24-2015, 11:06 PM
 
1,903 posts, read 3,201,744 times
Reputation: 1582

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Quote:
Originally Posted by Lowexpectations View Post
I have looked it up and the upper end of the 4th quintile is over 100k meaning over 20% make above 100k


And you skipped the more important point
Lowe is correct. 4th & 5th quintile cutoff for families is about 130k, which I'd argue is a good 'gray area' cutoff between middle class and upper middle for areas not considered high COL. 4th/5th cutoff is much lower for individual incomes.
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Old 12-31-2015, 05:12 PM
 
6 posts, read 4,307 times
Reputation: 14
Stay where you are and bank that money. Once kids come, the money will run like water. Save, Save, Save the houses will always be available; but will your money. Invest and make your money work for you. Owning a home is a money pit, be very careful and don't believe the American dream. Save your money.
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Old 12-31-2015, 07:29 PM
 
1,903 posts, read 3,201,744 times
Reputation: 1582
Quote:
Originally Posted by Karen E Taylor View Post
Stay where you are and bank that money. Once kids come, the money will run like water. Save, Save, Save the houses will always be available; but will your money. Invest and make your money work for you. Owning a home is a money pit, be very careful and don't believe the American dream. Save your money.
I don't find kids to be all that expensive. But it is what it is. What I will say is that having kids will change your perspective. They don't HAVE TO be money pits.

$350k is totally doable on your income, but I would only purchase if all the following are true:

1) Your incomes are relatively stable and secure and will not go away after having kids (i.e. no SAHM
2) Your jobs will stay in the Houston area
3) You are absolutely certain you want to raise a family long term in Cypress area

If all 3 are true, then it makes sense to get the "forever" house now when it's cheaper and with lower rates. If any of these are uncertain, or is a relocation is likely in the future, then I'd stay put and save.
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Old 01-01-2016, 02:50 PM
 
Location: Westbury
3,283 posts, read 6,014,209 times
Reputation: 2950
Daycare now a days for an infant is 1200-1300 a month for 18 months than drops about 200 bucks until they enter school. Add a second kid some places give a 10% discount for it

Dont be one of those types buying a tacky large house for two people. Four years down the road you have a kid, hate your house, and you all sell and buy again.

More people do that than not in the circle of silly people I know

Additional surprise I see in my friends - wife plans to return to work, baby's born, wont go back to work and their income is cut in half but their mortgage is almost double what it was before they bought a larger home. AND where they bought is going too downhill for baby and mom. Time to move

Its always those people who think a 401k plan is all thats needed for retirement
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Old 01-08-2016, 09:41 AM
 
177 posts, read 199,907 times
Reputation: 295
Quote:
Originally Posted by testmo View Post
Its always those people who think a 401k plan is all thats needed for retirement
Bu..bu....but I have Social Security!!!
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