Industry: Education and mental health
Age: 35
Location: Bay Area, CA
Salary: $122,000 (my salary is $104,741 and I make $15,000-20,000 in private practice, so I’ve averaged it out for the purposes of this calendar).
Real estate: Checks: $2,500; personal investments: $67,800; Roth IRA + 403(b) combined: $61,500; CALSTRS (a California Teachers Retirement Plan): $59,689. HYSA: $12,000.
Debt: $0
Payment amount (1x/month): $5,300 (school counselor income 11 months a year) + $900-$1,200 (private practice income).
Pronouns: She/her
Monthly Expenses
Housing costs: $1,500. I share a two bedroom two bathroom apartment with my roommate. My rent includes garage parking, utilities, wi-fi and TV subscriptions.
Loan payments: I paid off my student loans in 2020.
Phone and car insurance: $200 (sent to my parents).
Donation: $200 (monthly support of my missionary friend in Mexico).
World Vision: $35 (child sponsorship).
Office rental: $95 (for private practice).
Yoga Studio Membership: $117
Spotify: $12
Was there an expectation to attend higher education? Did you participate in any form of higher education? If so, how did you pay for it?
Yes, there was always an expectation for me to attend higher education. I earned a bachelor’s degree and a few years later went back to school for my master’s degree. I entered a dual program to become a school counselor and therapist. My parents paid for my undergraduate education and I took out loans and lived with my parents when I attended graduate school. I was able to pay tuition during my graduate program through federal student aid, which was a huge savings over the two years of graduation.
Growing up, what kind of conversations did you have about money? Did your parents/guardians educate you about finances?
My parents always told me to never spend beyond my means and never lend money that you will need back. My family loaned a relative a lot of money and the relative was never able to pay them back, so I think there was some fear around that. They also emphasized saving in general and saving for retirement.
