Nicole Lappin

Mortgages can be considered good debt, but that's in the liabilities part of your assets, liabilities, net worth chart. And then your monthly expenses. I'm going to list those out. Rent, $2,900. Mortgage on your townhouse, $867. And the HO fees are $266. The mortgage on the bigger house is $1,871. Your HOA fees are $25. That's pretty low.

Mortgages can be considered good debt, but that's in the liabilities part of your assets, liabilities, net worth chart. And then your monthly expenses. I'm going to list those out. Rent, $2,900. Mortgage on your townhouse, $867. And the HO fees are $266. The mortgage on the bigger house is $1,871. Your HOA fees are $25. That's pretty low.

Mortgages can be considered good debt, but that's in the liabilities part of your assets, liabilities, net worth chart. And then your monthly expenses. I'm going to list those out. Rent, $2,900. Mortgage on your townhouse, $867. And the HO fees are $266. The mortgage on the bigger house is $1,871. Your HOA fees are $25. That's pretty low.

I was like, maybe you're missing a zero, but no. Okay, cool. Life insurance is 53 and 37 bucks monthly. Groceries is 150 a week. So that's 600 bucks a month. You said gas is around 110 a month. And for the fun stuff, you said you're between 200 and 300 bucks a month. Let's work with the bigger number. have a little more fun and call it 300 a month. Does that sound right?

I was like, maybe you're missing a zero, but no. Okay, cool. Life insurance is 53 and 37 bucks monthly. Groceries is 150 a week. So that's 600 bucks a month. You said gas is around 110 a month. And for the fun stuff, you said you're between 200 and 300 bucks a month. Let's work with the bigger number. have a little more fun and call it 300 a month. Does that sound right?

I was like, maybe you're missing a zero, but no. Okay, cool. Life insurance is 53 and 37 bucks monthly. Groceries is 150 a week. So that's 600 bucks a month. You said gas is around 110 a month. And for the fun stuff, you said you're between 200 and 300 bucks a month. Let's work with the bigger number. have a little more fun and call it 300 a month. Does that sound right?

So you have a total of $7,030 a month going out in expenses, right? Let's talk about what's coming in so we can see the entire picture. You and your husband make $110,000 pre-tax, but you're also renting out the two properties you own. And the rent you're earning is more than your mortgage payment, which is great. So you're both making a profit there.

So you have a total of $7,030 a month going out in expenses, right? Let's talk about what's coming in so we can see the entire picture. You and your husband make $110,000 pre-tax, but you're also renting out the two properties you own. And the rent you're earning is more than your mortgage payment, which is great. So you're both making a profit there.

So you have a total of $7,030 a month going out in expenses, right? Let's talk about what's coming in so we can see the entire picture. You and your husband make $110,000 pre-tax, but you're also renting out the two properties you own. And the rent you're earning is more than your mortgage payment, which is great. So you're both making a profit there.

You said you're net making $1,200 a month from both properties. So let's add $1,440 to your annual income and say you make $124,400 pre-tax. You live in California, like I do, so your state taxes are probably very high. But putting state taxes aside and just thinking about federal taxes, your take-home pay is probably closer to 95K, perhaps more depending on what you're writing off.

You said you're net making $1,200 a month from both properties. So let's add $1,440 to your annual income and say you make $124,400 pre-tax. You live in California, like I do, so your state taxes are probably very high. But putting state taxes aside and just thinking about federal taxes, your take-home pay is probably closer to 95K, perhaps more depending on what you're writing off.

You said you're net making $1,200 a month from both properties. So let's add $1,440 to your annual income and say you make $124,400 pre-tax. You live in California, like I do, so your state taxes are probably very high. But putting state taxes aside and just thinking about federal taxes, your take-home pay is probably closer to 95K, perhaps more depending on what you're writing off.

So $95K a year is $7,900 approximately a month. And we said that your burn rate is about $7K a month, which leaves you about $880 a month. And that's not counting your debt repayment for your HELOC or your student loans. But would you say after expenses, you're probably keeping around $800 a month?

So $95K a year is $7,900 approximately a month. And we said that your burn rate is about $7K a month, which leaves you about $880 a month. And that's not counting your debt repayment for your HELOC or your student loans. But would you say after expenses, you're probably keeping around $800 a month?

So $95K a year is $7,900 approximately a month. And we said that your burn rate is about $7K a month, which leaves you about $880 a month. And that's not counting your debt repayment for your HELOC or your student loans. But would you say after expenses, you're probably keeping around $800 a month?

Well, let's talk about those savings. So you have $19,500 in a savings account. You also have retirement savings. You told us that you have $44,000 in your IRA and you're not sure about what's in your husband. So maybe we're going to want to check on that, but you think it's probably near $20,000.

Well, let's talk about those savings. So you have $19,500 in a savings account. You also have retirement savings. You told us that you have $44,000 in your IRA and you're not sure about what's in your husband. So maybe we're going to want to check on that, but you think it's probably near $20,000.

Well, let's talk about those savings. So you have $19,500 in a savings account. You also have retirement savings. You told us that you have $44,000 in your IRA and you're not sure about what's in your husband. So maybe we're going to want to check on that, but you think it's probably near $20,000.

Love that for you. OK, I mean, I'm really going to zero in on the retirement part of your overall picture, because I think it's important to look at how that big purchase would affect what that retirement plan is, especially since you want it to be accelerated compared to what people typically think is a retirement age. Is that fair?

Love that for you. OK, I mean, I'm really going to zero in on the retirement part of your overall picture, because I think it's important to look at how that big purchase would affect what that retirement plan is, especially since you want it to be accelerated compared to what people typically think is a retirement age. Is that fair?