Hi I am Jon. I am 28 years OLD, and married with no kids yet. I write old like that because I am close to working to retirement but not there yet, and I feel that I should have been working on it no later than 22. Read on if you are interested.
I noticed most people introduce themselves after accumulating some wealth. However, my situation is quite the opposite. I have a lot of debt (Student loans and vehicles). I hope this will act as a diary and hold me to a certain level of accountability.
I come from a very disadvantaged background, although I did not know this until studying for my first degree in Sociology. I was very fortunate to get a scholarship to a prestigious school (my only offer) that did not have an Accounting program which was my intended program of choice. After receiving that degree I worked different jobs from retail to parole officer. I was saving money to go back to school to study Accounting. That money ended up going towards living expenses for my wife and I because she wasn't allowed to work for a while (longer story). My wife is in her last year in her Doctorate in Physical Therapy program.
Rough Numbers/Notes
-I'm actually an Auditor now making about 53K in public accounting in my first year. Wife will be about 60 - 70K around this time next year.
-Student loans together will be about 130K; not a big deal as people make it. Money has to come from somewhere and my family is only rich in love. I made a financial move and a smart one because I was only making 35k as a parole officer.
-Two vehicles; together debt is about 23k. Houston is big and one car couldn't cut anymore when wife has to go 40 mins in opposite direction.
-My short version of my plan is invest in rental property to make up for lost time and tax deferred accounts saving about 30-40% of income when wife starts working and working my way up to 60% since my income may double within 6 years. I could do this now if it was just me. Currently only can save about 10-15% due to high insurance for spouse.
I've put my wife needs before my own for a long time with her not being a citizen and her schooling, but I am ready to work towards my desires and she is completely on board. I can go on and on but I wont. I'll post more later. I am happy to be a part of the community. I wish we could have a meetup or something. Thanks for reading if you got this far.
I noticed most people introduce themselves after accumulating some wealth. However, my situation is quite the opposite. I have a lot of debt (Student loans and vehicles). I hope this will act as a diary and hold me to a certain level of accountability.
I come from a very disadvantaged background, although I did not know this until studying for my first degree in Sociology. I was very fortunate to get a scholarship to a prestigious school (my only offer) that did not have an Accounting program which was my intended program of choice. After receiving that degree I worked different jobs from retail to parole officer. I was saving money to go back to school to study Accounting. That money ended up going towards living expenses for my wife and I because she wasn't allowed to work for a while (longer story). My wife is in her last year in her Doctorate in Physical Therapy program.
Rough Numbers/Notes
-I'm actually an Auditor now making about 53K in public accounting in my first year. Wife will be about 60 - 70K around this time next year.
-Student loans together will be about 130K; not a big deal as people make it. Money has to come from somewhere and my family is only rich in love. I made a financial move and a smart one because I was only making 35k as a parole officer.
-Two vehicles; together debt is about 23k. Houston is big and one car couldn't cut anymore when wife has to go 40 mins in opposite direction.
-My short version of my plan is invest in rental property to make up for lost time and tax deferred accounts saving about 30-40% of income when wife starts working and working my way up to 60% since my income may double within 6 years. I could do this now if it was just me. Currently only can save about 10-15% due to high insurance for spouse.
I've put my wife needs before my own for a long time with her not being a citizen and her schooling, but I am ready to work towards my desires and she is completely on board. I can go on and on but I wont. I'll post more later. I am happy to be a part of the community. I wish we could have a meetup or something. Thanks for reading if you got this far.
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