I’m a new mom with a 6 month old daughter. We’ll call her B. I also have a wonderful husband who will be Dad. Although I’m a mom, being a mother is not the over-arching term that defines me. This is about my navigation of a world that’s obsessed with money but afraid to talk about it.
More importantly, it’s about my quest for $1,000,000.00 in equity. Right now I think I can do it in 10 years with real estate. I own 2 rental properties which I purchased for cash over the past 18 months.
Here is the breakdown of what Dad and I bring home:
Dad – 85k salary since June 2011
65k salary from May 2010 – May 2011
Grad school before that
Mom – Self employed real estate agent
– 2008 ~ 75k after expenses
– 2009 ~ 140k after expenses
– 2010 ~ 140k after expenses
We live in Atlanta, GA where cost of living is relatively low. We live on a budget, but the budget is high. I’ll be completely honest about our income and spending, what we spend on, where I think we’re messing up, and where I think we’re doing well. I’d love it if others would weigh in on how much they spend, how they are reaching their goals, etc.
Let’s open up an honest conversation about money and hoist ourselves out of this economy by our petards! I’m aware Dad and I make more money than most. I want to know what you’re doing within your means to plan for your future, spend, and enjoy your time now. Can’t wait!