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Thank you,and to all who gave me advice.
Yes,I moved to NC and I didn't like it. It wasn't all it was cracked up to be.Plus,moving down there ate up $50,000 of my savings.Some of that money was used trying to get back to Nj. I did NOT want to get stuck down there like so many others I know.
I do like south Jersey very much,and it is cheaper in most aspects,esp the price of housing. But in talking to a lot of North Jersey transplants,most of us still work in northern Nj,eating away anything we were going to save in housing prices. Unfortunately,I just made bad decisions.
I always thought IRA's were protected from inflation.
Suze Orman prefers IRA's because she said if you need to borrow the money you won't have to pay taxes on it like you would a 401k.
I know I have to start saving soon though,as I'm turning the big 30.
In reference to the red portions, none of this is correct and I'm certain you misheard Suze.
You are absolutely right. The problem is the wording of monthly debt, for this calculator to be accurate you have to include ALL fixed monthly expenses(utilities, auto insurance, health insurance, car payments, child care, groceries as well as actual debt). If you input all that you will get a much more accurate conservative-aggressive range. If you wanted to be even more conservative you could also include retirement and college savings. The calculator also does not factor in PMI.
I'm sure if you put all that into the calculator you'll see that your not headed to Short Hills any time soon
well, monthly expenses, and monthly debt are two very different things. Obviously, i only plugged in my monthly debt payments since that's what this particular calculator instructed, and those are relatively small. now, monthly expenses....whole other story!
I understand the frustration. I think a lot of people are in the same place. Unless you have some kind or inheritance or are a city person that is banking over 200 a year, NJ is just too damn expensive. The middle class is gone. Yes, if you make $100,000 or less, have student loans, and car payments, you are just squeaking by, putting whatever you can into savings. Some months are rougher that others. It is not the American dream. That is why so many people are moving out of state after they have a few years up here under their belts. It is just not worth the $15 grand in taxes with a rinky-dink house.
It is definitely defeating that we "20/30's somethings" who went to get that college education, masters degrees etc.... cannot afford a home where we grew up. My husband and I laugh at what is out there on the market, $300-400,000 homes that all seem to be on a railroad track, in a flood zone, or condemned to "rebuild" from the bottom up. We are crafty but cannot afford to knock down a house and rebuild. I don't want a finished home with granite countertops, I just want a yard that is bigger than a parking spot with 3 bedrooms and 2 baths that isn't on Kinderkamack Road. At this rate I will be 40 before I can purchase a house. We want to start a family... I cannot imagine having 2 kids living in this 1 bedroom apartment.
I'm 38 making less than 100k year (sole bread winner) renting a 3 bedroom townhouse with 2 kids, a great little community, great schools, in Edison and we are VERY happy. I have a nice 06 Sonata (paid off), an 07 custom motorcycle (paid off), she has a giant 2001 YukonXL(paid off) all in great condition. Electric/gas/cell/cable are combined about $400/month. We have no debt. I have a second job that I use to put $$ into savings. We are getting by just fine.
Your life is what you make of it. Ive had the 500k house with 15k taxes. Ive had the combined income of 200k+/year lifestyle. Ive been damn near homeless living on friends couches. Stuff means nothing.
If you and your family are safe, happy, kids are getting a good school and homelife education and you can find enough "stuff" to be content with, THAT is the american dream!
In my county, that size of a townhouse let alone an apartment, would cost over $2500 a month. That I cannot afford.
I totally agree that health, happiness and family come first. But, if we cannot provide that, it is probably time to move to a place where we can house ourselves at a decent price. We are required to live in a certain area of NJ due to residency and job restrictions. Otherwise I would totally go farther south.
By the way, you said everything was paid off, which is great. For people in their 20s and 30s just starting out, trying to make something of themselves this is not the case; we have a lot of debt.
In my county, that size of a townhouse let alone an apartment, would cost over $2500 a month. That I cannot afford.
I totally agree that health, happiness and family come first. But, if we cannot provide that, it is probably time to move to a place where we can house ourselves at a decent price. We are required to live in a certain area of NJ due to residency and job restrictions. Otherwise I would totally go farther south.
By the way, you said everything was paid off, which is great. For people in their 20s and 30s just starting out, trying to make something of themselves this is not the case; we have a lot of debt.
edison is much cheaper then bergen county. I've lived in central nj a long time. If he is living in a older townhouse with 3 bedroom prob still under 2k. maybe 1600-1700.
Edison is definitely cheaper, i have no idea how people buy houses in bergen, I guess a lot of them already own house pre-bubble levels.
The currently house prices in bergen aren't far from the bubble levels, property taxes are even higher than ever, not sure how 30's people are able to buy houses.
We are in our early 30s and bought a house recently in essex, taxes are $15k, we are living paycheck to paycheck.
yup I agree with you, prices for homes in Bergen county and the taxes suck! Prices came down to what we can afford 290k ish for maybe 2-3 years but recently they have now once again started rising quickly over the last 6 months. we got priced out in the early 2000's when home prices became sooooo inflated and overvalued and I swear it seems to be itching back to those horrible days once again, we have learned nothing, and the taxes here are ridiculous. If you find a nice townhome in your budget, the taxes and maintenence fee's which run around 300 and up make home buying almost out of reach for us once again. The mortage rates went 1% or more in just weeks after sitting at aproxx. 3.6% for almsot a year. I hate NJ and bergen county but my entire family is here..I don't wanna see one more dump home that need many updates for over 300k with 8000 or more in taxes anymore...geeshh NJ we have a 60k downpayment and make 70k and 730 credit score, bank will lend us 230k and we still can't find a decent home we can afford, been looking for 2 years and don't want a short sale
Quote:
Originally Posted by bbnetworking
Edison is definitely cheaper, i have no idea how people buy houses in bergen, I guess a lot of them already own house pre-bubble levels.
The currently house prices in bergen aren't far from the bubble levels, property taxes are even higher than ever, not sure how 30's people are able to buy houses.
We are in our early 30s and bought a house recently in essex, taxes are $15k, we are living paycheck to paycheck.
I understand the frustration. I think a lot of people are in the same place. Unless you have some kind or inheritance or are a city person that is banking over 200 a year, NJ is just too damn expensive. The middle class is gone. Yes, if you make $100,000 or less, have student loans, and car payments, you are just squeaking by, putting whatever you can into savings. Some months are rougher that others. It is not the American dream. That is why so many people are moving out of state after they have a few years up here under their belts. It is just not worth the $15 grand in taxes with a rinky-dink house.
It is definitely defeating that we "20/30's somethings" who went to get that college education, masters degrees etc.... cannot afford a home where we grew up. My husband and I laugh at what is out there on the market, $300-400,000 homes that all seem to be on a railroad track, in a flood zone, or condemned to "rebuild" from the bottom up. We are crafty but cannot afford to knock down a house and rebuild. I don't want a finished home with granite countertops, I just want a yard that is bigger than a parking spot with 3 bedrooms and 2 baths that isn't on Kinderkamack Road. At this rate I will be 40 before I can purchase a house. We want to start a family... I cannot imagine having 2 kids living in this 1 bedroom apartment.
My parents were 46 when they bought their first home - grew up in the depression. And they never complained. Man, we are a generation of whiners.
I meant fellowship in the general grad school sense. They are common in my field which is oceanography.
Awesome field! I actually wanted to be a marine biologist when I was young but I get horrible motion sickness on boats that there was no way i could pursue it. I even vomited on the Nile cruise I was on in Egypt with a motion sickness patch on and those bracelets so there's no hope for me. But I can go on ANY roller coaster in the world and not be phased one bit. Go figure.....
A fellowship is completely different in medicine though and is done after all "regular" training/schooling is complete.
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we have a 60k downpayment and make 70k and 730 credit score, bank will lend us 230k and we still can't find a decent home we can afford, been looking for 2 years and don't want a short sale
