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Slow Motion posted:I switched to an HMO - my wife has some conditions that flare up from time to time. Running the numbers on the last couple years its a wash with the HDHP + company HSA contrib vs the HMO. So I trade some tax advantaged savings for not having any expense anxiety when she decides she needs to go in. There's help and there's be a full-time nanny. You should figure out their exact level of interest. That said, it all depends on a lot. You can figure out how much delivery will cost you, at least in theory, by looking at your plan docs. We paid some small copay for ours. But also, if you are really managing to save at that rate, it'll just eat into your savings rate. Probably by a lot.
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Jan 30, 2020 12:41
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Tim Thomas posted:Holy poo poo, that's cheap. I'm in the greater Boston region and that's unheard of. yeah the numbers i hear from my colleagues in greater boston make me not want to move back when we have a family stuff like "my entire mid-five figure bonus paid four our two kids daycare last year"
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Jan 30, 2020 13:51
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God I love a good success story.
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Jan 30, 2020 17:04
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KYOON GRIFFEY JR posted:yeah the numbers i hear from my colleagues in greater boston make me not want to move back when we have a family like we pay 420 (nice) for a 9 hour day and that covers two teachers, admin salaries, upkeep, rotating helpers, etc, so I can’t imagine that the teachers are bringing home a lot more than 750/wk which is just bananas we may send our daughter to Montessori land next year and that’s great because they pay the poo poo out of their teachers and they rule, but also hot loving drat it’s a spicy meatball Not clear how this is different anywhere unless ratios are higher, which I wouldn’t be super comfy with
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Jan 31, 2020 05:17
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Is the baby's nursery going to have a scorpion mural?April posted:Finally, would it be out of line to ask if you have a fancy outfit picked out for your vasectomy reversal? Now you've got me wondering why it isn't easier for the urologist to extract semen without having to go through the reversal process' surgery, but I'm guessing there's no non-surgical way to do that. I guess best you could do would be some sort of needle, but then you'd just get sperm and not the semen mixture, and it wouldn't be any cheaper pin the backend to try artificial or mechanical (turkey baster) insemination after that. Well, never mind.
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Feb 1, 2020 21:22
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Tim Thomas posted:yup although on the other hand, if the max someone can do is 3.5 kids, and the kids are spending 45 hours a week with them, the teachers probably should be making more than minimum wage? oh i agree that the teachers should be paid but i have no idea how you make it work on less money
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Feb 2, 2020 13:57
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I pay $305/week for daycare (plus diapers/wipes) and the owner drives a Maserati. 
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Feb 5, 2020 16:54
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sheri posted:We paid $195 a week for an infant and it got less as he got older. So...it's not that expensive everywhere.
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Feb 5, 2020 17:21
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i bet you could do 195 a week in like bakersfield
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Feb 5, 2020 17:22
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Dang y'all have a lot of babies. So while I spec out cashflows for my goals what should I be thinking for the baby? My vague idea was to have the $10,000 to cover delivery and cushion any unexpected shocks in the first year. The regular costs would be covered by a combination of the $2,000/m currently going into non-retirement savings and the addition of $500/m from paying off the auto loan. At maximum day-care would be three days a week (wife works part time Wed-Sun). I assume the costs are unlikely to exceed $2,500/m. Am I missing anything here?
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Feb 6, 2020 19:08
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Slow Motion posted:Dang y'all have a lot of babies. Find out your annual out of pocket maximum from your health insurance company and use that number (instead of the deductible, as you might pay several deductibles if things get choppy). As for how much the baby ends up actually costing you every month, that's between you, the Mrs. and the baby.
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Feb 6, 2020 19:15
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EAT FASTER!!!!!! posted:Find out your annual out of pocket maximum from your health insurance company and use that number (instead of the deductible, as you might pay several deductibles if things get choppy). As for how much the baby ends up actually costing you every month, that's between you, the Mrs. and the baby. MOOP is $3,000 on the current HMO, and would be $6,500 on the HDHP (which I'll consider moving to if the annual contribution limit get's pushed way up). I'm more concerned with all the peripherals: formula, car seats, baby furniture, clothes etc.
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Feb 6, 2020 19:25
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Slow Motion posted:MOOP is $3,000 on the current HMO, and would be $6,500 on the HDHP (which I'll consider moving to if the annual contribution limit get's pushed way up). I'm more concerned with all the peripherals: formula, car seats, baby furniture, clothes etc. People in poverty have children just fine, amigo, but you can spend as much or as little as you want on this stuff. The only thing I'd say - as a physician - is that breast milk is best and the benefits are most obvious when it's nursed but you have to do what's going to work with you, your wife and your kid.
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Feb 6, 2020 19:30
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Check it out, it's the best reviewed car seat in the world! https://clekinc.com/products/convertible-seats/foonf/?variant=31047890174027
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Feb 6, 2020 19:31
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In the mid-Atlantic we've spent ~$260 / mo due to a babby since 2017. That's not inclusive of additional groceries, but does cover all the other stuff like diapers, clothes, car seats, etc. Biggest expense month was when babby was born at $1200. We don't pay for childcare and it's not as expensive here as SoCal. And EAT FASTER!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!1 is right, you can spend as much or as little as you want on a kid.
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Feb 6, 2020 19:53
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That number is right about the same for us. Daycare is its own expense. The main things that go in it are diapers, wipes, baby clothes, baby supplies, toys, grooming, bathing, feeding and all the other miscellaneous treasures from Amazon my wife orders.
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Feb 6, 2020 19:59
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EAT FASTER!!!!!! posted:Check it out, it's the best reviewed car seat in the world! Britax4lyfe yo
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Feb 7, 2020 01:09
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My wife finds excuses to spend another $80-100 on "baby thing" activity toy that might be good for our son's development. I buy $3 riding toys at yard sales. Take a guess what he spends most of his time playing with.
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Feb 10, 2020 20:39
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Nocheez posted:My wife finds excuses to spend another $80-100 on "baby thing" activity toy that might be good for our son's development. I buy $3 riding toys at yard sales. Take a guess what he spends most of his time playing with. This doesn't even have to be a dichotomy, either. Kids outgrow things so fast that it often isn't that hard to find "baby thing" secondhand.
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Feb 10, 2020 21:41
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Nocheez posted:My wife finds excuses to spend another $80-100 on "baby thing" activity toy that might be good for our son's development. I buy $3 riding toys at yard sales. Take a guess what he spends most of his time playing with. empty cardboard boxes you have from other presents
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Feb 10, 2020 23:55
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KYOON GRIFFEY JR posted:empty cardboard boxes you have from other presents I swear there's a multi-billion dollars a year market for cardboard boxes and tubes sold to toddlers.
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Feb 14, 2020 21:25
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How does your wife feel about being married to an out of control sex addict, OP?
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Feb 15, 2020 18:18
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You mention HMO and you're in Cali so I'm going to guess Kaiser? Check your coverage levels. My wife and I had a baby while covered by Kaiser and the entire pregnancy plus C-section plus hospital stay was $600. Daycare was no joke $2,000/month for a long-rear end time though. Don't forget to post pictures of your new Uppababy when you get it.
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Feb 17, 2020 20:54
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KnifeWrench posted:This doesn't even have to be a dichotomy, either. Kids outgrow things so fast that it often isn't that hard to find "baby thing" secondhand. Want to return to zaurg thread? (USER WAS PUT ON PROBATION FOR THIS POST)
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Mar 5, 2020 06:58
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zaurg posted:Want to return to zaurg thread? you need to shut the gently caress up
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Mar 5, 2020 09:07
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I took a look through the last year of Mint and made a little average budget. Slow Motion is M, wife is R. The budget is straight averages for expenses over the last year with some rounding for readability. The general philosophy of this budget is to assume the lowest normal income and the highest normal expense. Then let all the variances be positive surprises. My goals remain: 1. Reverse vasectomy and have baby 2. Make executive MBA financially possible 3. Pay down mortgage to a more manageable monthly level (Current APR 4.25%). A refinance this year might help a lot. A few things changed over the last year that have caused some (mostly positive) disruptions. I took a position at a new company. I missed my last bonus at the previous company but the new job pays better overall. I won't qualify for bonus at the new place till I hit some performance targets which will take until 2021 (if I do hit them). This position does come with a 6 month severance though, which is a very welcome safety blanket in these trying times. Edit - also paid off a car, wife switched to part time, and we got a full years worth of mortgage interest deduction on the taxes. Savings goals may be a blind spot for me. I dump $4,000 or so in the savings account each month, and I do monitor what I pull out for big purchases and travel to keep it at a reasonable level. The problem is that I haven't made any guess at future cashflows for my big goals above. The MBA in particular will likely require a combination of cash and debt to finance, which will conflict with my goal of making the house more secure by reducing the mortgage payment. Y'all have convinced me that babies are not catastrophically expensive until they too want to go to college. If anyone has advice on budgeting for these future expenses it would be appreciated. I may make some high/mid/low estimates and pin them to the most likely dates to see how the cash works out. Slow Motion fucked around with this message at 20:38 on Mar 25, 2020 |
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Mar 25, 2020 20:31
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I'm not a fan of including cars as assets - I know technically yes they are, but they're usually rapidly depreciating and it's not like you can readily convert them to cash since you still gotta drive to work and the grocery store, etc. an EMBA at U of M Ross, where my wife got her regular MBA, is $163,000 at sticker price for Michigan residents.
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Mar 26, 2020 18:08
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Slow Motion posted:I took a look through the last year of Mint and made a little average budget. Slow Motion is M, wife is R. The budget is straight averages for expenses over the last year with some rounding for readability. The general philosophy of this budget is to assume the lowest normal income and the highest normal expense. Then let all the variances be positive surprises. Why do you want an MBA? Gotta confess, if you're really able to save $4k per month, unless you see some magical path to where the MBA brings a mega-return on investment, I would just save $4k per month and retire in 20 years.
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Mar 26, 2020 19:43
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Only $2200 is generic "savings", the rest goes into a savings account earmarked to be spent in big lumps. $2200 / month is still a loving great amount to be able to save and invest. You might be able to make more with an MBA, but your breakeven interval is pretty dicey; you gotta blow out what you've already saved, and then, the MBA's only paying you back whatever you make in excess with a new position with that degree that you would not have received without it.
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Mar 27, 2020 02:42
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SlyFrog posted:Why do you want an MBA? There's a clear path with the MBA: the next level up from where I am now makes 0.3M-2.5M depending on the company. And although I am on the "succession plan" , the only non-MBA I've worked for at that level is a JD CPA. The other factor is I want to be able to pivot to other industries should that become a better (or only) path.
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Mar 27, 2020 02:56
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Slow Motion posted:There's a clear path with the MBA: the next level up from where I am now makes 0.3M-2.5M Clearly the difference between the bottom end of that range and the top are a lot more than an MBA. Be realistic about this. Even achieving the bottom end reliably sounds dubious.
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Mar 27, 2020 03:07
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Everyone I know who's gotten an MBA to get a promotion has had their company pay for the MBA. Myself included.
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Mar 27, 2020 15:24
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EAT FASTER!!!!!! posted:Everyone I know who's gotten an MBA to get a promotion has had their company pay for the MBA. Myself included. I was just going to say this. Back when I was looking at graduate programs, the general theory was that for MBAs, if you're paying for it yourself, you're the sucker who shouldn't be getting an MBA. (I'm sure that's overstated of course, but the general principle is what I have heard repeatedly from professionals.)
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Mar 27, 2020 17:29
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I don't think it's overstated at all. Our negotiations class actually featured a scenario of how to negotiate with our employers to get them to pick up more of the bill. Real 12-D chess kind of poo poo. Fortunately I think it IS actually a degree that DOES make you more marketable and gives you some meaningful experience (especially if you do the loving reading) but paying for it? Pffffft.
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Mar 27, 2020 19:42
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For me, the only in-line promotions available are either VP in my current role (MBA wouldn't help), or CFO where I'd have to pass an executive search committee which would probably have a hard-on for prestigious degrees (MBA would be a help with a big name school). There's another possible road where I switch companies and get the MBA paid for as past of my contract. I don't want to do that because I was hired to build a department here which will take another two years at minimum. I may be able to get some funding for the MBA here, but I doubt I can get more than a token amount. A little reprieve will come from taking deductions: currently I gross over 200k one of the highest combined income tax areas of the country and itemize already so the deductions would be significant. Really it only makes sense if I can get a big enough name on the diploma. The returns *could* be huge. The only sure thing here is that I'm plateaued without it. Time to crack the books on that GMAT.
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Mar 27, 2020 21:09
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Slow Motion posted:3. Pay down mortgage to a more manageable monthly level (Current APR 4.25%). A refinance this year might help a lot. Are you paying PMI since you're over 75% LTV. Current 30 year rates (at aimloan.com with great credit and escrow) are 3.25% with 0 closing costs, or 2.875% with $8k costs. Refinancing from 4.25 is doable though it may not have a huge ROI. 75% of 580k is 435k. You can only get $417k unless you do a jumbo loan which would increase your APR by 1/4 or 1/2 point. So that's 72k or better yet 90k to go. Paying off a realistic additional $2k/month means 36 or 45 months. This does not take into account equity paid off with your normal loan payments, so it would take less time than that. It's not a simple call. 4.25% is a decent rate by most standards. You want to stop paying PMI. You could either put your $2k/month straight into additional loan payments, or into a rainy day account. 3 years from now you refinance, give them the money you've saved, and then you have a $417k loan at 3% ($1758/month) and no PMI. That would be the best long term solution IMO, but plans and interest rates change.
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Mar 27, 2020 23:39
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SlyFrog posted:I was just going to say this. Back when I was looking at graduate programs, the general theory was that for MBAs, if you're paying for it yourself, you're the sucker who shouldn't be getting an MBA. That’s absolutely not true of professional degrees nor a full time mba program. It is true for an executive mba though. Many / most banks, hedge funds, consulting shops will pay off your loans if you join but that’s an after the fact thing you didn’t know when you signed up. Going to a business school for a full time program outside of the top 5-10 is for suckers though. Going to a part time or EMBA program without a promotion promised is for suckers too even if it’s free.
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Mar 28, 2020 19:06
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paperchaseguy posted:Are you paying PMI since you're over 75% LTV. Current 30 year rates (at aimloan.com with great credit and escrow) are 3.25% with 0 closing costs, or 2.875% with $8k costs. PMI is $150/m. Currently around $800/m goes to principal. I don't think I'd need a jumbo - this is a high cost county and my current loan is conventional. There might be a window in this crisis before prices drop that I could sneak some extra appreciation into the appraisal too. Slow Motion fucked around with this message at 19:47 on Mar 28, 2020 |
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Mar 28, 2020 19:45
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Vomik posted:Going to a business school for a full time program outside of the top 5-10 is for suckers though. yeah
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Mar 30, 2020 23:05
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I'm considering breaking up my cash pile and investing most of it. Currently I like to keep my checking account above 35k as an emergency fund. When I get up past 40k I start thinking about vacations and major upgrades to my house. What I'm thinking of doing is breaking this up into separate accounts with two goals in mind: 1. Earn some interest on the cash pile 2. Encourage better savings/prevent lifestyle creep. My monthly baseline expenses are about 6k. That includes a bit of fluff but not the more egregious luxuries ($30 pizza night, but not $150 sushi deliveries). So I'm thinking three months of that (18k) in an HYSA for liquidity and no downside risk. That leaves 17k that I could invest a little more aggressively. Maybe just a simple VTSAX with a low cost brokerage. Then as a final step I'd like to direct deposit from my salary into the brokerage. I'm earning about 3k over regular and recurring expenses. Currently that builds up in checking and gets spent in chunks for house upgrades, paying off cars/mortgage, vacations, veterinary bills, and unexpected expenses. I think it would be pretty safe to carve out $1k/m for the brokerage account. I've never had a brokerage before, but I assume the money would be moderately liquid. This arrangement would be set up with the expectation that I don't need to touch that money for any short term needs, but if push came to shove I still could. In summary I would end up with three accounts: Checking - Starting from $0 initial balance with 10k min deposited monthly (with occasional windfalls) - the only account for paying expenses outside of emergencies and very occasional large purchase (house, boat, whatever) Emergency Fund HYSA - 18k and leave it there indefinitely Brokerage - 17k with a 1k monthly deposit - as general savings for large financial goals - education, bigger house at some point, FIRE etc. What do the goons think about it?
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May 27, 2020 18:10
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