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Need to increase my income by $100k to pay off my house, kids' college
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Date: March 16th, 2025 12:11 PM Author: lake tantric public bath My last child will graduate high school in 2041 and, presumably, college in 2045. So I have 20 years of runway for college. My mortgage is at 6.5% interest and is on schedule to be paid in full on 06/01/2041. I will be looking to refinance to a 15-year if I can get something close to 5% (no idea if this will happen anytime soon). Currently, my wife and I spend almost every penny we make. Our lives are very expensive and we are consuming at an enormous rate. Doing some projections, if I could increase my income by $100,000 per year, I would be able to pay off my mortgage in full in about 4 years. From there, I could divert that money to education, and probably have enough to cover all educations by the time my first kid goes to college as well as spending on necessary home improvements (things are just falling apart). So if I can increase my income by $100,000 in my mid-40s, by my mid-50s I can finally start to be in an okay financial position with kids and housing covered somewhat. Then I could use mid-50s to mid-60s to continue earning to help launch my kids in their lives (weddings, first houses, loans to start businesses). Obviously, if I increase my income by $200,000 or $300,000 or more that would be better and make me more secure. But a $100,000 more is basically the baseline I need to reach in order to ensure that my family remains working class. |
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Date: March 16th, 2025 1:31 PM Author: Bisexual kink-friendly jap This is all fraud there's already no need for "college" (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752557) |
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Date: March 16th, 2025 1:33 PM Author: lake tantric public bath It's absolutely true. I wonder what the college situation will even be when it's time to start sending them. I think I may start focusing more on paying off my mortgage vs saving for their college. If mortgage is gone, that would help me cash flow their college anyway. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752567) |
Date: March 16th, 2025 12:40 PM Author: odious useless brakes faggotry how are your lives expensive? your wife sleeps in a bedroom that would creep out benzo
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Date: March 16th, 2025 1:23 PM Author: lake tantric public bath This is what I have spent out of my checking account over the last month: Car Payment $678.57 CC#1 Payment $83.92 Venmo Payment $15.00 Childcare $1,260.00 CC#2 Payment $988.00 CC#3 Payment $951.88 CC#4 Payment $1,285.97 CC#5 Payment $6,238.27 CC#7 (Costco's) $549.10 Mortgage Prepayment $528.00 Mortgage Payment $3,269.13 Venmo Payment $17.00 Water $38.07 CC#6 Payment $816.74 Gas Bill $278.57 Total $14,055.22 On top of this we have other expenses that get paid at different times: Federal income tax: $4200 Homeowners Insurance: $6500 Auto Insurance: $4400 Property Taxes: $10,000 HOA: $800 Auto Registrations and Other Fees: $2000. These items prorate out another $2,000 per month.
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Date: March 16th, 2025 1:32 PM Author: Bisexual kink-friendly jap I love you friend stop the nonsense (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752558) |
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Date: March 16th, 2025 1:45 PM Author: Electric Senate Mood what are the balances on the credit cards and why are they so high? edit. see that was answered. one car is paid off and you are financing the other? |
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Date: March 16th, 2025 1:47 PM Author: lake tantric public bath Yes, I have 13 more payments on my one car. All interest was prepaid and it's a 0.00% loan. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752622) |
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Date: March 17th, 2025 1:41 AM Author: irradiated hall immigrant LMAO at $4400 for auto insurance, how the fuck did you let that happen? which one of you has bad auto wreck history and driving infractions? (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48754101) |
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Date: March 17th, 2025 8:10 AM Author: lake tantric public bath Neither of us has an accident or a claim in at least 10 years. No tickets. I think I got a speeding ticket last sometime before my son was born but I took the class and got it erased. Once when I still lived in an apartment, I got a ticket for making an unsafe lane change. I showed up to the pre-court meeting with a motion to suppress and a motion for judgment on the pleadings, and the prosecutor was like, let’s just drop this one okay? (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48754413) |
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Date: March 16th, 2025 1:25 PM Author: effete smoky stead im not up on your "lore" so how much actual credit card debt are you carrying (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752537) |
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Date: March 16th, 2025 1:31 PM Author: lake tantric public bath At this moment, about $12,000 across 7 credit cards. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752556) |
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Date: March 16th, 2025 1:33 PM Author: odious useless brakes faggotry if you aren't carrying substantial debt, why do you have 7 cards? some sort of points scam?
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Date: March 16th, 2025 1:35 PM Author: lake tantric public bath I actually have 8 credit cards. But it's so many cards that some months I don't actually have charges on all of them. Here are the cards in my wallet: Capital One Quicksilver Card Apple Card (this is just on my phone) Chase Freedom Chase Freedom Plus (or whatever it is called) Citi Costco's Card Discover It Card AmEx Blue Preferred Card Wells Fargo Card |
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Date: March 16th, 2025 1:36 PM Author: odious useless brakes faggotry but why? (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752579) |
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Date: March 16th, 2025 1:39 PM Author: lake tantric public bath 2 1.5% cashback cards 2 rotating category 5% cashback cards Costco's Card gives 5% back on Costco's gas, plus 2% of all Costco's purchases 1 general 2% cash back card AmEx gives 6% cash back on $6,000 of groceries each year 1 Apple Pay/Internet shopping card |
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Date: March 16th, 2025 1:30 PM Author: Navy disturbing library multi-billionaire having kid costs half a mil now, ur numbers are too optimistic (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752551) |
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Date: March 16th, 2025 1:31 PM Author: lake tantric public bath I have 4 kids. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752554) |
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Date: March 16th, 2025 1:31 PM Author: Cruel-hearted diverse piazza bbw I expect to make $500k more this year than last year, but that rounds to zero (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752555) |
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Date: March 16th, 2025 1:32 PM Author: lake tantric public bath I bet it's frustrating. But still, that's an upward trajectory. I'm on a downward trajectory. I'm on pace to make only 85% of what I made in 2023 in 2025. I need this to be going the other direction. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752560) |
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Date: March 16th, 2025 1:34 PM Author: Cruel-hearted diverse piazza bbw Starting to wonder whether you have the skills to pay the bills (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752572) |
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Date: March 16th, 2025 1:37 PM Author: lake tantric public bath Yes, brother. That was my motivation for creating this thread. I don't have a good income trajectory. I have trouble paying my bills. My spending is increasing unchecked with inflation and 6 people in my family. I honestly don't know if I will ever maek it. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752580) |
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Date: March 16th, 2025 1:40 PM Author: Cruel-hearted diverse piazza bbw Why didn't you take your career seriously? What were you doing? (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752593) |
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Date: March 16th, 2025 1:43 PM Author: lake tantric public bath I do take my career seriously. I'm just not very successful. My income goes up and down and it's a very bumpy road. I get shit on whereever I go. Some might say that's a reflection of the value I bring, but I have no trouble getting jobs or keeping them. But when I'm there, I just never get ahead. I get kicked in the teeth and told to "wait another year." (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752607) |
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Date: March 16th, 2025 1:50 PM Author: Cruel-hearted diverse piazza bbw It seems like people intuitively understand that they can take advantage of you and pay you a small fraction of your billings to enhance their own profits per partner (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752629) |
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Date: March 16th, 2025 1:52 PM Author: lake tantric public bath Yes! Exactly. I have thought precisely the same thing! (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752631) |
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Date: March 16th, 2025 1:33 PM Author: Bisexual kink-friendly jap (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752566) |
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Date: March 16th, 2025 1:46 PM Author: Free-loading salmon famous landscape painting Take up bloodsport and never post again (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752618) |
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Date: March 16th, 2025 1:47 PM Author: Electric Senate Mood how much does your wife make? (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752623) |
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Date: March 16th, 2025 1:49 PM Author: lake tantric public bath Her paycheck brings $1,277 2x per month. Now, she has been threatened with job loss, so we are still navigating that. If her job goes away, we will really be in trouble. But if we got rid of daycare then maybe we could roughly maek it. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752625) |
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Date: March 16th, 2025 1:51 PM Author: Electric Senate Mood your budget is missing health insurance. does that come from her job or yours? (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752630) |
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Date: March 16th, 2025 1:53 PM Author: lake tantric public bath She has some health insurance premium come out of her check for herself and the kids. I have health insurance for me come out of my check. I didn't include that above because it doesn't come out of my checking account. My health insurance is like $4.25 2x per month. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752638) |
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Date: March 16th, 2025 2:58 PM Author: Electric Senate Mood not really sure how much health insurance will cost with this suggestion so it might not be an option but your life looks to be way better if she becomes a sahm, you don't buy a new car for the next 5+ years, you cut down on the stupid debt, and you just resign yourself to working past 60 you're not going to break up with 4 children so you can go conservative and quit trying to keep up with jones |
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Date: March 16th, 2025 3:01 PM Author: lake tantric public bath Car comes off in 13 months. Daycare comes off in 3 years. That should provide some wiggle room. But inflation will probably rise, taxes will rise, and my pay may decline. |
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Date: March 16th, 2025 2:11 PM Author: Big mexican To the point:
1. You're an idiot if you pay for your kids to go to college. They should figure it out, and you're doing them a disservice if you're not encouraging them to go somewhere cheap.
2. You should be reducing costs AND seeking to increase income, not focusing solely on income. You're spending like drunken sailors.
3. Trade up in the wife dept. You need someone who can earn and contribute and not just leech.
4. Cut down to 3 cards max.
5. Why not keep your mortgage at 30 years and simply pay more towards it each month. Wouldn't that give some safety in case your wife loses her job and you make even less this year than last? |
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Date: March 16th, 2025 2:15 PM Author: Heady persian tattoo 1. is cr
2. spending less is extremely cr. trying to earn more is a lost cause for most peopole
3. always cr if youre a normal person but hes supposedly 200 lbs overweight. cant imagine doing marriage that way
4. dont get the reference
5. interest rates are shit so i wouldnt fuck around with anything other than paying it down right now |
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Date: March 16th, 2025 2:19 PM Author: Big mexican He said they have 7 different credit cards. I think that having that many cards helps hide how much is actually being spent or at least contributes to shock when you finally total them all up to pay. Would cut down to 3 max. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752688) |
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Date: March 16th, 2025 2:19 PM Author: Heady persian tattoo i would cut down to one tbh (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752690) |
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Date: March 16th, 2025 2:32 PM Author: Big mexican Agree that would be best. But probably a bridge too far for them and will distract them with thoughts of the "loss" from not trying (and failing) to points/rewards max. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752720) |
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Date: March 16th, 2025 3:00 PM Author: Electric Senate Mood 1 yes 2 yes 3 no way. he has 4 kids. he's locked in 4 5 a safety cushion is important |
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Date: March 16th, 2025 2:20 PM Author: carmine sneaky criminal At least you survived pancreatic cancer, every day is a blessing (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752691) |
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Date: March 16th, 2025 6:58 PM Author: Up-to-no-good aquamarine plaza ceo (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48753406) |
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Date: March 16th, 2025 3:01 PM Author: razzmatazz alpha Ur gonna die from being fat and addicted to food way before that. See if you can just increase your life insurance policy and try to time it correctly. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752814) |
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Date: March 16th, 2025 3:02 PM Author: lake tantric public bath Dude, I don’t have any life insurance. I never have. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752815) |
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Date: March 16th, 2025 3:03 PM Author: alcoholic coffee pot Im curious what your premiums would be. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752821) |
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Date: March 16th, 2025 3:15 PM Author: lake tantric public bath Do they ask you to go to the doctor or some shit? (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752835) |
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Date: March 16th, 2025 3:16 PM Author: alcoholic coffee pot prett sure you can cop a policy with just a quick online form now. not sure. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752838) |
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Date: March 16th, 2025 3:26 PM Author: Heady persian tattoo wow that sounds great im in (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752861) |
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Date: March 16th, 2025 11:01 PM Author: razzmatazz alpha Incredibly irresponsible decision on your part. The don’t even have like $250 guaranteed issue from your employer? You can get guaranteed issue through the state bar. Goddamn it dude. Incredibly selfish on your part. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48753900) |
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Date: March 16th, 2025 11:11 PM Author: lake tantric public bath They don’t have a penny. If I die my family will face financial ruin. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48753925) |
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Date: March 16th, 2025 3:21 PM Author: Rusted church hard work and a second and also a third job will make it so (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752849) |
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Date: March 16th, 2025 3:28 PM Author: appetizing offensive athletic conference If you increase your income by $100k,, you will spend $100k more in retarded GC shit and complain about being broke. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752868) |
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Date: March 16th, 2025 3:36 PM Author: lake tantric public bath No, if I earn $100k more, I will pay about $24k in taxes and save/invest the difference. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752890) |
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Date: March 16th, 2025 3:58 PM Author: Mahogany base Or perhaps you could
(Need to increase my income by $50k to pay off my house, kids' college) + (Need to decrease my spending by $50k to pay off my house, kids' college)
to get the same result. |
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Date: March 16th, 2025 4:36 PM Author: lake tantric public bath Cutting $4,000 from monthly expenses ($48,000 per annum) would have the same effect as earning another $59,520. So presumably, I could cut $4,000 in expenses and raise my income by just $40,000 and still get to the same place. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48753034) |
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Date: March 16th, 2025 4:50 PM Author: Mahogany base You listed three trips/vacations in the other thread.
I get the impression you guys could cut your spending pretty easily... if you wanted to. |
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Date: March 16th, 2025 4:56 PM Author: lake tantric public bath No. I have a bunch of kids. I have to go on trips. I don’t even like taking trips. I just want to be left alone. My oldest son is begging me right now to buy him a computer which is going to cost like $750. YouTube don’t understand how expensive kids are. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48753072) |
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Date: March 16th, 2025 5:21 PM Author: Mahogany base Like I said, if you wanted to.
Most people don't have income problems, they have spending problems. (And the exemplar set by those leading the country doesn't help.)
You're used to a certain way of life and way of spending. You view this pattern as a requirement ("I have to") instead of a luxury. The majority of families with four kids don't have anywhere near your level of HHI.
Until you break this pattern and change your way of thinking, you're going to continue to be unhappy. |
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Date: March 16th, 2025 4:01 PM Author: Ivory frisky internal respiration i know u are too goy to think like this but wtf send ur retarded goy kids to overpriced fraud US schools esp since they prob will be too dumb to get into an ivy or something good. just send them to like furking germany or china to study for way cheaper. this entire idea of slaving away just to pay jews for a diploma piece of paper is lolzy amerikkkan BS (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752944) |
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Date: March 16th, 2025 4:38 PM Author: lake tantric public bath I just want to be able to give my kids 2 years at the community college + 2 years at the state university so they maybe they can get jobs as accountants or salespersons. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48753044) |
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Date: March 16th, 2025 4:45 PM Author: Ivory frisky internal respiration u r furking retarded (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48753052) |
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Date: March 16th, 2025 4:49 PM Author: lake tantric public bath Just do sales, bro. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48753060) |
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Date: March 16th, 2025 4:17 PM Author: ruby azn You already have nearly 2 million in a taxable brokerage account and hundreds of thousands in retirement accounts. You’ve already surpassed this savings goal. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48752981) |
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Date: March 16th, 2025 4:41 PM Author: Cordovan insecure ticket booth dopamine that will be like $20 million in 20 years unless we're entering a prolonged bear market. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48753051) |
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Date: March 16th, 2025 4:46 PM Author: Ivory frisky internal respiration 2027: Trump loling looking at DiscoFries $500k net worth (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48753054) |
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Date: March 16th, 2025 4:47 PM Author: lake tantric public bath If my net worth falls to $500k (down 71.4%) where will you be, friend? Keep in mind that your losses will be about 3x as deep as mine. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48753057) |
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Date: March 17th, 2025 1:54 AM Author: Ivory frisky internal respiration yea but i dont have autistic kids to take care of forever, and i can live on $400 a month in danang or something if shit hits the fan or just jump into the ocean and get raped by sea lizards (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48754123) |
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Date: March 16th, 2025 7:50 PM Author: marvelous deer antler lodge Will I make it? (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48753490) |
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Date: March 16th, 2025 7:52 PM Author: lake tantric public bath You’ve already maed it for your level. You need to lever up now by getting married and stacking kiddos. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48753493) |
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Date: March 16th, 2025 8:20 PM Author: marvelous deer antler lodge I should have some updates in that department soon. We want three kids. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48753525) |
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Date: March 17th, 2025 1:43 AM Author: charismatic green station main people Why did you get yourself into this situation? I have zero debt or dependents, and plan to keep it that way. This pressure to have a "family" is incredibly destructive. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48754105) |
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Date: March 17th, 2025 8:11 AM Author: lake tantric public bath They said—go out and get a wife. Have some companionship. Don’t be alone. Then at the wedding they said the purpose of this union is the procreation of children if it be God’s will. Well now we’re 20 years down that road and I’ve got a lot of stress and a bunch of kids. (http://www.autoadmit.com/thread.php?thread_id=5694962&forum_id=2#48754415) |
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Date: March 17th, 2025 1:50 AM Author: glittery genital piercing parlor I'm shocked people in this board still think we will continue as a civilization and in particular macro economically that you can make projections like this and try to plan out life milestones like we were still in the 90s or something lol.
Let me tell you something man, and everyone else reading this, you don't have the TIME. Whatever liquidity you have now take half of it and invest seriously in tangible survival assets. |