Hey folks - I've read many of the articles on this site, listened to the podcast, and for the most part am trying to follow the advice. However, I think I could really use some input on whether I'm doing good/bad/ok with my financial decisions.
Current situation:
Expenditure:
Savings:
Rounding up, we live on about $6k a month, which is more than I would like. But, I feel that spending more on some things allows me to work harder. I think that i could cut my spending to $4k if I worked less and made closer to $200k.
So I feel we are not quite maintaining a 'resident lifestyle', but that the moonlighting is sort of balancing that out. I'd love any input though. Our goal is to be independent by 50.
Current situation:
- 29, just became an attending. Spouse, 26, is in NP school, one more year to go.
- Bought a condo during residency, moved out of city. Have a tenant that just covers expenses. $40k equity but would be hard to sell.
- About $18k in bonds, and $15k in tax deferred retirement accounts
- No debt
- Salary about $300k per year including moonlighting
- No kids, paying for spouses NP school (still another $25k to pay over the next year)
Expenditure:
- Rent/cars: $3300
- Food/eating out: $900
- Clothes/other stuff: $300
- Vacations/traver: $500
- Other bills (phone, electric, gym, netflix): $300
Savings:
- $1500 per month in tax deferred retirement
- $10k per month in bonds, with hope of buying a house in a year or so, at which point that monthly amount would go into mutual funds
Rounding up, we live on about $6k a month, which is more than I would like. But, I feel that spending more on some things allows me to work harder. I think that i could cut my spending to $4k if I worked less and made closer to $200k.
So I feel we are not quite maintaining a 'resident lifestyle', but that the moonlighting is sort of balancing that out. I'd love any input though. Our goal is to be independent by 50.
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