How did you start out (financially) after college/marriage?

[joetama 5,000+ posts]

I think that is just starting out money.....

 

[req 5,000+ posts]

im in the navy.

 

[bikinpunk 10+ year member]

An aero space engineer and a respiratory therapist together only make 70-80k a year?

I'm ballparking. I have a friend who started out after graduation at $53k/year.

I'm guessing/hoping that I'll start off around $55k/year, and she'll likely start off at close to $30k/year. Unless she takes another offer...then she'll be making upwards of $40k/year. I'm rounding down cause I don't wanna get ahead of myself. //content.invisioncic.com/y282845/emoticons/wink.gif.608e3ea05f1a9f98611af0861652f8fb.gif

 

[WhoSayWho? 5,000+ posts]

I love how you really seem to have all the right ideas -- and then you keep coming back to the $50 for audio. I don't see anything wrong with it, I just think it's funny how your talking in terms of significant financial matters and then the caraudio comes back up.

 

[reneeb7363 10+ year member]

Perhaps we could do a study on 'group think'. I know how the SS soldiers rationalized what they did. I wonder how the population of CA.com justify all the stupid shit they think/post/do

spur of the moment emotions -- IMO

 

[Randy Savage 5,000+ posts]

I'm gonna be making like at least $200k a year because I'm in AP chem.

 

[bikinpunk 10+ year member]

I love how you really seem to have all the right ideas -- and then you keep coming back to the $50 for audio. I don't see anything wrong with it, I just think it's funny how your talking in terms of significant financial matters and then the caraudio comes back up.

Lol, gotta get that processor!

 

[Fast1one 10+ year member]

An aero space engineer and a respiratory therapist together only make 70-80k a year?

All depends on location...Here in cali Ill be making 65-80K as a Mechanical Engineer, Aerospace is making near 100K starting IIRC...

 

[HitManSE 10+ year member]

Ehh, I could write a load of stuff here but ill just be simple about it.

-Dont get into debt, pay off any cc bills right away (my credit score = 800+)

-live beneath your means, you cant make $ by taking out loans and giving your $ to someone else.

-its not how much you make (though it sure helps) but what you do with what you make.

-buy assets, not liabilities. Simple definition of assets is something that puts money into your pocket, liability is obviously the opposite.

- Get a prenup done. Not a 5 yr, or whatever. Solid. locked. No bs. Get it done...why? because you dont know for sure. and if you end up wrong X years down the road, you'll be wrong with half your sh!t gone.

-Search, read up on finance/investing, ect.

-Your house is an asset, not to you, but to the bank.

Ill leave you with this, be careful about loans. They compound like hell. Just to give you a small example. I for some reason had a $16 fee on my house's monthly payment. They gave me a a choice to either pay the $16 with a separate check, or just let it sink into my monthly payments and it would increase $3.89 over my normal monthly total for 12 months.

I guess I forgot to mention to them im not an idiot from the start. $3.89 x 12 months = $46.68 Why the hell would I pay nearly 3x the money for something that small. Dont let small things fall through the cracks. It will cost you dearly in the long run.

 

[WhoSayWho? 5,000+ posts]

-buy assets, not liabilities. Simple definition of assets is something that puts money into your pocket, liability is obviously the opposite.
-Your house is an asset, not to you, but to the bank.

I agree with almost everything you said (well maybe not the prenup) but are you suggesting that he not buy a house?

 

[HitManSE 10+ year member]

I agree with almost everything you said (well maybe not the prenup) but are you suggesting that he not buy a house?

Prenup, IMO isnt for everyone. Personally though, rather have that net there then not. Its upto the couple. I just strongly suggest it be done because if you stay together it will never become an issue.

No no, //content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif buy a house. Im just saying, realize that its not an asset to you. Even when its 100% paid off, its still a liability because its still taking $ out of your pocket.

You can go around that though, kind of. A couple can make upto $500,000/2yrs in capital gains and not pay tax on it. In other words, they can sell their home and either upgrade or just move to a diff area with similar pricing (if feasible) and use that $ gained to pay off depts, buy assets, whatever just be smart with it.

Another option is to move into a home worth more, and continue to do so every few years while not having to pay capital gains. Another option is buying a property, you can use 1031 tax def feral and work that up as well. However now ive started to complicate it.

Reading up on finance, investment, ect. Some of those books can contain some valuable information. In no way do I claim to be an expert, im not. These are just things ive picked up from what ive read, what ive done, and what im still learning.

 

[WhoSayWho? 5,000+ posts]

Prenup, IMO isnt for everyone. Personally though, rather have that net there then not. Its upto the couple. I just strongly suggest it be done because if you stay together it will never become an issue.
No no, //content.invisioncic.com/y282845/emoticons/laugh.gif.48439b2acf2cfca21620f01e7f77d1e4.gif buy a house. Im just saying, realize that its not an asset to you. Even when its 100% paid off, its still a liability because its still taking $ out of your pocket.

You can go around that though, kind of. A couple can make upto $500,000/2yrs in capital gains and not pay tax on it. In other words, they can sell their home and either upgrade or just move to a diff area with similar pricing (if feasible) and use that $ gained to pay off depts, buy assets, whatever just be smart with it.

Another option is to move into a home worth more, and continue to do so every few years while not having to pay capital gains. Another option is buying a property, you can use 1031 tax def feral and work that up as well. However now ive started to complicate it.

Reading up on finance, investment, ect. Some of those books can contain some valuable information. In no way do I claim to be an expert, im not. These are just things ive picked up from what ive read, what ive done, and what im still learning.

Ok, just making sure. Like I said before, buying/selling homes has been very good to me.

 

[HitManSE 10+ year member]

Ok, just making sure. Like I said before, buying/selling homes has been very good to me.

Oh yeah, buying/selling homes can make for some nice profits. Depends on how far out you leverage yourself and the market at the time.

Lets also be very clear about this (this goes to everyone) Car audio IS a liability //content.invisioncic.com/y282845/emoticons/biggrin.gif.d71a5d36fcbab170f2364c9f2e3946cb.gif

WhoSayWho, unless im blind and somehow missed it. Can you write up a somewhat brief overview of what you look for, your process, ect. of buying/selling homes. I love to hear peoples opinions, ect that have had success doing something because obviously they are doing something right.

I compare to my own, add to my knowledge if need be. (usually I do) Ive learned you cant live long enough to learn from every mistake that can be made, however learning from what others have done is smart IMO.

A lot, and a mean a lot of lessons ive learned werent just from mistakes Ive made, but from what others have made as well.

 

[Eugenics 5,000+ posts]

I'm gonna be making like at least $200k a year because I'm in AP chem.

It's gaurenteed.

 

[MikeofTulsa Moderator]

how i started after i got married, i got a job prior to it, and i kept my job.