thaidyed
Dryer sheet aficionado
This forum looks great-happy to join the fray.
I live abroad in a developing country which presents a fabulous opportunity to save. I am 30 years old, married and about to start having kids. We own our own home outright (also abroad). We both work but I make $108,000, while DH makes $6000 annually (he's local). At this point we have about $125,000 net worth including everything but the house. Our only debt is about $5000 left on my 0% student loan.
US expat tax exemptions (nothing on the first $80,000) and a low cost of living means no stretch to put 75% or more into savings and still allows for having a nice cash buffer for the short-term.
I'm still very new to this so I haven't got the finer details worked out yet. I need to figure how to budget for having kids and educating them and keeping that money out of the early retirement calculation. Another problem is how to not make the calculator assume I pay 25% tax on all the income (I do pay 25% but only on the part above 80K). Also, we'll both be helping our parents out for the foreseeable future--him because, well, that's what you do here, and me because I'm an only child with a dad who didn't save (but did pay for most of college ).
Look forward to any and all advice--but fear it will be a while before I can repay the favor!
I live abroad in a developing country which presents a fabulous opportunity to save. I am 30 years old, married and about to start having kids. We own our own home outright (also abroad). We both work but I make $108,000, while DH makes $6000 annually (he's local). At this point we have about $125,000 net worth including everything but the house. Our only debt is about $5000 left on my 0% student loan.
US expat tax exemptions (nothing on the first $80,000) and a low cost of living means no stretch to put 75% or more into savings and still allows for having a nice cash buffer for the short-term.
I'm still very new to this so I haven't got the finer details worked out yet. I need to figure how to budget for having kids and educating them and keeping that money out of the early retirement calculation. Another problem is how to not make the calculator assume I pay 25% tax on all the income (I do pay 25% but only on the part above 80K). Also, we'll both be helping our parents out for the foreseeable future--him because, well, that's what you do here, and me because I'm an only child with a dad who didn't save (but did pay for most of college ).
Look forward to any and all advice--but fear it will be a while before I can repay the favor!