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Old 04-24-2015, 10:19 PM   #1
Confused about dryer sheets
Join Date: Feb 2015
Location: Chicago
Posts: 1 more lurker to new member


I have been a lurker on this forum and finally joined as a member. I am 35 years old. DW is 33. Have 2 wonderful kids (7 and 5) that keep us on our toes all the time.

We are LBYM family (credit goes to DW) that managed on single income from 2005 - 2011 (DW stayed home to raise our kids) and we haven't had the opportunity to save much during our mid - late twenties.

We never believed in taking loans (except for mortgage currently at < $170K). All our credit cards are paid in full every month and our vehicles (used) are paid for in cash

I Worked with Megacorp for 10 years with pension benefits and recently switched to another Megacorp. DW joined the workforce has been working with Megacorp for the past 3 years. With kids in public schools, our day care expenses reduced and dual income is helping with boosting our 401k's and savings since last year. We are maxing our 401K's starting this year.

Here's our current financial status

Tax deferred accounts: $210K
Taxable accounts: $20K
Property (overseas): $120K
Emergency Fund to cover 1 year of expenses.

I look forward to learning more from this community and experience power of compounding along with other community members.


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Old 04-25-2015, 04:47 AM   #2
Recycles dryer sheets
Join Date: Mar 2014
Location: Islands
Posts: 309
Welcome! You found this site at the right age. I only wish I landed here sooner!

You have your eyes on the prize, you LBYM and avoid debt. Great start.

Do you do your own investing? It will really pay off nicely over the years if you do. There are plenty of threads that will point you in the right direction. In addition, check out
Great community as well.

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Old 04-25-2015, 09:35 AM   #3
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Join Date: Aug 2013
Location: Citizen of Texas
Posts: 1,707
Welcome. I too lurked for a number of years before joining this forum. Your post was interesting to me since a number of things you mentioned, reminded me of when I was your age. I was in my mid 30's when I switched from one mega corp to another after 10+ years of service. I had no debt at the time except for a home loan and my net worth was probably about the same as yours based on your input and inflation adjusted. The DW had recently stopped working to raise our child. (although she never went back to work for a "$ paying" job.)

I stayed with mega corp #2 for another 25+ years before retiring. I started saving in mega corp's 401k as soon as I could and I always put in enough to get the max company matching. The last 15 years I maxed out the 401k to the legal limits for tax deferrals. That along with IRA's and other savings and investments, WORKED FOR ME. Now the biggest financial problems facing me are RMD's some years in the future when I hit 70.5.
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Old 04-25-2015, 07:14 PM   #4
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Join Date: Jul 2014
Posts: 503
Welcome! You've done a good job saving even when your kids were home and DW not working. You should see a lot of momentum now that you have an extra income (and you're both focused on LBYM).
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Old 04-27-2015, 03:33 PM   #5
Recycles dryer sheets
Join Date: Apr 2015
Posts: 54
Welcome! I am a relatively new member too! My kids are going to college next year and the year after. Those years pass by quickly! My advice is to LBYM, keep family time a priority and enjoy the kiddos while they are home! We did and are now so proud that they have absorbed a strong work ethic, frugality and great self-confidence. No regrets sending them out to face the world!
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