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to vague a question . you can have 5 million dollars in real estate tied up and 20k in the bank and you can't afford to buy it
This is how I'm feeling (who I am). Paid off my mortgage last week. $750k in assets and $8k in cash.
On the other hand:
-Escrow check is expected next week
-I get paid weekly and can cover our day-to-day costs
-Each of hubby's current pay check = 3 months living expenses
-Literally a pile of cash (tens of thousands gifted from my FIL... I think to be considered pre-inheritance or something) awaits us in my husband's native country if he so chooses to pick it up (which we are trying to avoid.... imagine trying to cross the border! But it's there in a true emergency I suppose).
And hubby is negotiating a corporate C-level job... which might very well turn each pay check into 5-6 months of living expenses if we avoid lifestyle inflation.
We're vulnerable. We took a risk, but it was calculated.
We have ZERO intention of buying except a late summer domestic vacation for the remainder of the year.
This is how I'm feeling (who I am). Paid off my mortgage last week. $750k in assets and $8k in cash.
On the other hand:
-Escrow check is expected next week
-I get paid weekly and can cover our day-to-day costs
-Each of hubby's current pay check = 3 months living expenses
-Literally a pile of cash (tens of thousands gifted from my FIL... I think to be considered pre-inheritance or something) awaits us in my husband's native country if he so chooses to pick it up (which we are trying to avoid.... imagine trying to cross the border! But it's there in a true emergency I suppose).
And hubby is negotiating a corporate C-level job... which might very well turn each pay check into 5-6 months of living expenses if we avoid lifestyle inflation.
We're vulnerable. We took a risk, but it was calculated.
We have ZERO intention of buying except a late summer domestic vacation for the remainder of the year.
This is how I'm feeling (who I am). Paid off my mortgage last week. $750k in assets and $8k in cash.
On the other hand:
-Escrow check is expected next week
-I get paid weekly and can cover our day-to-day costs
-Each of hubby's current pay check = 3 months living expenses
-Literally a pile of cash (tens of thousands gifted from my FIL... I think to be considered pre-inheritance or something) awaits us in my husband's native country if he so chooses to pick it up (which we are trying to avoid.... imagine trying to cross the border! But it's there in a true emergency I suppose).
And hubby is negotiating a corporate C-level job... which might very well turn each pay check into 5-6 months of living expenses if we avoid lifestyle inflation.
We're vulnerable. We took a risk, but it was calculated.
We have ZERO intention of buying except a late summer domestic vacation for the remainder of the year.
Your husband's c level possibility is overseas isn't it? With your cash flow the way it is why didn't you wait another month or two to build a cushion better than 8k? It seems like unnecessary to take the risk you did when in a month or two you'd be fine.
Also paying off the mortgage is going to have very little impact on your overall picture if your husband gets the new job, you move and sell the current house
In your opinion, how much net worth to afford a BMW M2 comfortably?
Is this question hypo or about you specifically? If it's about you specially I'd say you are probably fine with a healthy 7 figure net worth to buy a 50-60k car
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But it's there in a true emergency I suppose).
