Industry: Real estate
Age: 41
Location: Bay Area, California
Salary: $325,000
Assets: Taxable brokerage: $167,500. 401(k): $304,800; Roth IRA: $45,000; HSAs: $12,700; HYSA: $50,000; check: $3,000. Home value: $520,000. Car value: $20,000
Debt: Mortgage: $411,000. car loan: $12,500; credit card (0% APR through October 2024): $4,500
Payroll Amount (Bimonthly): $7,400
Pronouns: She/her
Monthly expenses
Monthly loan payments: Mortgage: $2,115; car payment: $275
All other monthly expenses:
HOA Dues: $457
Home Security: $84
Property Tax Reserve: $800
Home warranty: $28
Electric: $75
Insurance: $200
Monthly subscriptions: $152 (Spotify, Netflix, Oura Ring, Nuuly, Google Storage)
Annual subscriptions: $1,630 (Google Webpass, One Medical, LastPass, annual credit card fees)
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. I was raised by a college educated single mom and honestly didn’t know there were any other options. I took out student loans for undergrad and got a master’s degree, paid for by my employer, a few years ago.
Growing up, what kind of money conversations did you have? Did your parents/guardians educate you about finances?
My mom was a shopaholic and I definitely inherited her habit, although we never fought. We didn’t really talk about saving or investing, but when he was finally able to buy a house, he said it was a good investment. I was 11 or 12 then.
What was your first job and why did you get it?
The summer after high school I worked as a dishwasher at the nursing home where my mom was an occupational therapist. I was lucky enough to inherit my mom’s commuter car, but I had to pay my own gas and spend money to run around with friends.
Were you worried about money growing up?
I wasn’t too worried before I left for college. After undergrad, though, I worried all the time. My first job out of college paid very little and I had $50,000 in student loan debt. I struggled throughout my 20s.
Are you worried about money now?
Not really. I would love to FIRE (Financial Independence, Early Retirement) and retire at 50.
At what age did you become financially responsible for yourself and have a financial safety net?
My mom paid for my cell phone and car insurance my first year of undergrad, then I was on my own.
Do you have or have you ever received passive or inherited income? If so, please explain.
My mom “gave” me $6,000 for a down payment on a condo she convinced me to buy when I was 22. Remember, real estate is a good investment! I was home poor and stressed most of my 20s. I lost money on the sale and never paid her back even though I offered.
