We are spending 120k -130k/ yr ( avg across last 3 yrs ) on rent + credit cards. Double income couple without kids No investments within this 120k. Is this normal or very high ? Tc 300k ( + 250k for my spouse )
Which city? Does it also include international & domestic travels? Travels increase the cost significantly
NYC. Includes travel ( excluding any bookings on credit card points )
How big is your family. If you have a family of 4. I think on low end
Family of 2
Goldman is paying you 300k?? How many YOE and what level
LMAO I read that wrong, it's 550 household tc. Spending only 35%? You're crushing it, funnel everything else into ownership assets and pay people to manage it for you. Don't just sit on your money.
50-30-20 rule is a nice one to follow. As long as rent and essentials is below 50% take home, they are fine. Credit cards seem fine since it was lumped in. Putting 20% into ROTH and brokerage would be a good idea to get FIRE going.
Savings rate above 30% of your take home salary is considered good and you are way above that. Quit stressing and go enjoy..
It's a great spending level. As long as you are saving/investing more than $200K a year, you're good to go. Chill and enjoy life.
Please be miserable as fuck right now so that you can spend like crazy when you are 93.
My mortgage and property tax is already 10k per month. So...
The mortgage portion is an investment. So not the right comparison.
Nah, mortgage is housing cost, it doesn't count as an investment. It would be classified the same as rent when evaluating your spending.
Sounds like you’re a credit card junkie
I put everything I can on credit cards. Why not get the points/miles/cash?
There are studies that show even if you’re paying off everything and avoiding interest you will spend more than you normally would using credit cards instead of your own money.