Happy New Year! I’m crikey, late 30s, Texan, attorney, married mom of 2. I only work part-time right now, but as my husband and I approach our 40s I want to get more serious about our financial future. I have no aspirations of retiring early—I actually enjoy working, my husband and I both do(he is an attorney too). But I want to be fiscally responsible and make good choices and not blow our hard earned money on Amazon and Target impulse buys. Our only debt is a small mortgage. We spent our 20s partying and taking vacations when we werent working very hard paying our dues as young associates. But we are try to live below our means. No fancy cars or houses. I look forward to getting to know you and learning your sage advice!
Hi! Crikey here...
- Thread starter crikey
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Ready2Go
Recycles dryer sheets
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Out-to-Lunch
Thinks s/he gets paid by the post
Welcome aboard!
Welcome. I believe, and I'm sure many here do as well, that LBYM is perhaps the single biggest factor in getting to FIRE or even just FI by the time you get in to your 50's or so. Lifestyle creep is a condition to keep an eye on as well.
It sounds like you have the right attitude and with 2 attorney incomes you can probably sock a good amount away and still live a comfortable lifestyle. Good luck
Welcome, crikey - awesome user name.
Finding the right work/life balance is a challenge for working moms -but it sounds like you figured that part out. I was a older when I had my kids but went to 3/5ths of FT for the first two years, then 4/5ths of FT for the next 12 years. Best decision I ever made. (Although with unpaid overtime during 'crunch time' it was closer to 40hr/week... but far better than 60hr/week it would have been if I'd been full time.)
Stay within your income - sock away for retirement, and you'll be in great shape. Looking forward to hearing more from you.
Finding the right work/life balance is a challenge for working moms -but it sounds like you figured that part out. I was a older when I had my kids but went to 3/5ths of FT for the first two years, then 4/5ths of FT for the next 12 years. Best decision I ever made. (Although with unpaid overtime during 'crunch time' it was closer to 40hr/week... but far better than 60hr/week it would have been if I'd been full time.)
Stay within your income - sock away for retirement, and you'll be in great shape. Looking forward to hearing more from you.
Best advice I have for someone who is doing everything else correctly (no debt other than the house, living below your means) is to suggest you set aside 1/2 of EVERY RAISE for your tax sheltered retirement accounts or kids' college if your retirement is fully funded, then increase your standard of living with the other half. That way you are responsibly saving for retirement, but never have to feel the pain of a decreased standard of living.
HI Bill
Thinks s/he gets paid by the post
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Welcome! Many of us in our earlier years felt the same way. But at some point, you may reach the point where "You have enough and you've had enough" and you want to RE. It's better to have the option of retiring early when your 'BS' bucket is full, you have a health problem, you lose your job, or your life priorities change. Those who save little have no option but to keep w#rking, or to live a subsistence life.
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