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05-02-2008, 04:04 AM
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#21
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Dryer sheet wannabe
Join Date: May 2008
Posts: 24
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Thanks for everyones help so far.
Breaking things down last night, I know I can live for sure on $80,000 per year after taxes, but $85,000 to $90,000 would be a little nicer. 100K was a little overboard. Does anyone want to offer an opinion on this, in lieu of my 100K per year option?
Regarding health insurance, what does a typical family of 4 pay per year? Avg. We are all healthy.
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05-02-2008, 02:35 PM
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#22
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Confused about dryer sheets
Join Date: Mar 2007
Posts: 1
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If a $250K home produces $22K in income (seems a bit high) why don't you buy 3 more homes at a cost of $750k to produce $80k+ in annual income? That'll leave you with $2mil in investments you won't really need to use at least right away.
This investment idea will cost you in time but you didn't seem to mind working a little.
In reality houses should be cheap but it might still be hard to find the returns you're getting on that first home.
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05-02-2008, 02:54 PM
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#23
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Dryer sheet wannabe
Join Date: May 2008
Posts: 24
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The 250K is a business lease, not a home.
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05-02-2008, 05:17 PM
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#24
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Thinks s/he gets paid by the post
Join Date: May 2007
Posts: 1,525
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 Quote:
Originally Posted by TOPDAWG
Regarding health insurance, what does a typical family of 4 pay per year? Avg. We are all healthy.
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You can get an idea of premium costs and deductible options at Health Insurance, Medical Insurance, Individual Health Insurance Quotes. There may be other comparison sites, as well.
Note that only some policies offer the HSA option.
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05-03-2008, 05:37 PM
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#25
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Thinks s/he gets paid by the post
Join Date: Oct 2005
Posts: 4,898
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You might consider getting an opinion from an independent health insurance broker who is willing to prescreen your family with a few companies. Considering yourself "healthy" is an advantage of course, but insurance companies may have a different idea of what constitutes a "healthy" person. You would be surprised at what conditions can/will be excluded from a policy.
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05-05-2008, 05:46 PM
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#26
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Dryer sheet aficionado
Join Date: May 2008
Posts: 39
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RE: Healthcare, I am 46 with a family of 3 kids. Since I have the cash to cover the expense I went with a $2000 deductible per person and a $7000 overall cap. By doing this my monthly payment is only about $350/mo. Basically, I pay for everything out of pocket but I am covered in the event of a catastrophic medical expense. It takes some getting used to but I love it! and I spend a lot less on health care than I ever did while I was working.
Regards, Kevin
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