Hello-from young married girl with big financial independence dreams

[haha]

for writing a headline that shows on the Portal Screen as

"Hello from young married girl with big..."

Well, a big hello to you too!

Ha

[jIMOh]

Quote:

Originally Posted by Miss_Lala Thanks for the advice so far. I have already read the Millionaire Next Door, actually I read it aboutt 5 years ago, and have since read the Millionaire Mind. I'm obsessed with finance articles and blogs, so I guess I'm looking for inspiration and tips to tweak what I've got going. As for LBYM, we're saving about 3k a month, so I think we've got that down. I just need to know where to put it.

3k per month is excellent. 36k per year on a salary of 200k is 18% savings rate.

I would put the 3k into mutual funds. No load funds for sure. Probably 100% equities, but if you wanted bonds (you said you had 15%, but would reduce?) that is OK, provided bonds are in moderation.

100% equities
at least 40% domestic
at least 25% international/foreign
at least 10% small cap domestic
at least 10% small cap foreign or emerging markets

I am 34 yo, 99% equity (1% bond). 74% domestic, 25% foreign.
74$ domestic is 44% domestic large cap, 15% domestic mid cap, 15% domestic small cap, International is 15% large cap and 10% small cap.

Everyone's allocation is different. I would try to figure out your allocation, and use the allocation as basis for most investing decisions.

[Milton]

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Originally Posted by Miss_Lala As for his type of law, it actually is important for him to be here. He works on appelate cases, and therefore the Supreme Court cases. This is one of the only places where you can get steady work like that.

The Seventh Circuit Court of Appeals is located in Chicago.

[Miss_Lala]

Quote:

Originally Posted by Milton The Seventh Circuit Court of Appeals is located in Chicago.

He's already worked for a circuit court of appeals, and I am told that it's a once in a lifetime thing, and the jobs last one year long. He had a circuit court clerkship right out of law school and after that, the only clerkship that makes sense to take is a Supreme Court clerkship. Not to mention that the rate of pay would be a 2/3 cut of what he makes now if he took another clerkship. I had actually checked a COL comparison tool and the pay cut for a clerkship wouldn't even nearly make it a possibility for Chicago.

[Milton]

Quote:

Originally Posted by Miss_Lala He's already worked for a circuit court of appeals, and I am told that it's a once in a lifetime thing, and the jobs last one year long. He had a circuit court clerkship right out of law school and after that, the only clerkship that makes sense to take is a Supreme Court clerkship. Not to mention that the rate of pay would be a 2/3 cut of what he makes now if he took another clerkship.

Your informant is correct, but I was not suggesting that he pursue another clerkship.

You mentioned that he specializes as an appellate lawyer. My point was that there are various busy and respected appeal courts throughout the USA (including Chicago, mentioned by HobbyDave as a good place to live that is less expensive than DC). It is not necessary to remain in Washington because the Supreme Court is there.

Of course, if you both wish to remain in D.C., that's certainly fine. I'm just saying that you are not held hostage there by virtue of his employment.