Author Topic: Case Study - Life Optimization Tips  (Read 6267 times)

LivingTheory

  • 5 O'Clock Shadow
  • *
  • Posts: 57
  • Age: 35
  • Location: USA
Case Study - Life Optimization Tips
« on: July 03, 2018, 10:19:57 PM »
Life Situation: Married Filing Jointly, 29 and 27 years old, 1 kid, live in an income-tax state with low property taxes, love our house. SO is more readily employable but I have much higher income potential in the next 2-5 years so we're focused on advancing my career instead of both.

Gross Salary/Wages: $92k ($62k salary + $10k bonus + $20k SO salary)

Individual amounts of Pre-tax deductions: 15% to 401k with 5% match, $100/month to HSA, $300/month to 529, $450/month to medical premiums, $60/month to life insurance/legal services/etc.

Adjusted Gross Income: $67k

Taxes: Federal = $7,600, State = $3,100, FICA = $6,100

Current expenses (monthly):
Mortgage (P&I)       $2,116
Property Tax          $212
Home Insurance     $65
HOA                      $36
Home Maintenance $60
______________________
HOME                    $2,489

Electric                  $100
Water                    $60
Internet                 $55
______________________
UTILITIES              $215

Car Insurance        $250
Gas                       $250         
Maintenance          $60
______________________
VEHICLES              $560

Food                      $320
Child Needs            $200
Clothes                  $60
Hygeine                 $60
Entertainment        $100
Cell Phones            $100
Travel                    $90
Giving                    $50
Pets                       $30
Misc.                      $80
______________________
VARIOUS               $1,090

TOTAL MONTHLY SPEND: $4,354

Expected ER expenses: We plan to keep spending constant with the P&I gone once the mortgage is paid off.

Assets
Traditional IRAs:    $174k
Roth IRAs:             $67k
______________________
RETIREMENT          $241K

Cash Balance         $2k
Investments          $12k
______________________
HSA                      $14k

Checking               $4k
Savings                 $21k
______________________
TOTAL CASH          $25k

529 Account          $2k

Primary Residence $380k

Vehicles                $7k

TOTAL ASSETS           $669K

Liabilities:
15 year, 3.375% fixed rate mortgage. Original amount was just under $300k when we closed a year ago. Remaining balance is $275k. No PMI. We're putting a few hundred extra toward the loan each month. Projected payoff date is mid-2030, original loan term runs until mid-2032. Would like to have this done sooner than 2030.

TOTAL LIABILITIES   $275K

NET WORTH               $394K

Questions: What would you do differently in our situation? My SO will work part time for the foreseeable future. If my income rises significantly, SO will likely come home full time. This is to say that our income could rise but it won't be to the full extent of any raises that I get because it'll be offset slightly by the second income dropping. Best case scenario would be my $62k+$10k bonus jumping to $100k+$50k in the next year. This may or may not happen in that timeframe but is very likely within 5 years.

Right now we feel pretty cash poor because our cashflow is really tight each month. We bought our house with both of us working full time and before there was a mouth to feed at home. Our income has dropped and our expenses have risen. Just feeling the pinch on a monthly basis when $5,000 comes in the door and $4,400 is already earmarked for mostly-fixed expenses. The extra $600 we're splitting between $300 to the mortgage and $300 to the 529 to try to make more progress than just covering the bills and putting money into the 401k. Maybe I'm just stressing for no reason and this is a temporary problem but I feel like I need more wiggle room each month to feel more confident. Would you make any major changes in our situation or just keep plugging away and hope for a bump in income?

I want to give my family the best life possible and don't want to spend the best years of my kid's life trying to keep a mortgage payment going. Anything I can do to get the house paid off and bring the investment accounts up to $600k before he's too old to want to play with me would be great. We were making such quick progress in prior years that maybe my view is distorted and I need to chill. I just want this so badly for our future. Thank you.
« Last Edit: July 03, 2018, 10:31:02 PM by LivingTheory »

gpyros85

  • Stubble
  • **
  • Posts: 165
Re: Case Study - Life Optimization Tips
« Reply #1 on: July 03, 2018, 10:45:26 PM »
Is your Net Monthy Income $50,200?

67,000-7,600-3,100-6,100=$50,200?

For your age your assets are AWESOME. Good Job.

The house is killing you! I don't feel you have a healthy enough income to support that large house. I make 98k and have a 170k house with 20% down. Loan principle of $135k. Monthly mortgage $1,020.

You are a classic case of house poor. The decision is yours if you want to work to pay for your house.

gpyros85

  • Stubble
  • **
  • Posts: 165
Re: Case Study - Life Optimization Tips
« Reply #2 on: July 03, 2018, 10:47:16 PM »
With 105k in equity in the house frees up some things, what market are you in?

gpyros85

  • Stubble
  • **
  • Posts: 165
Re: Case Study - Life Optimization Tips
« Reply #3 on: July 03, 2018, 10:52:51 PM »


Gross Salary/Wages: $92k ($62k salary + $10k bonus + $20k SO salary)

Individual amounts of Pre-tax deductions: 15% to 401k with 5% match, $100/month to HSA, $300/month to 529, $450/month to medical premiums, $60/month to life insurance/legal services/etc.



So 15% + 5% of the 62k + 10k salary? Is the 10k bonus guarentee? I never like to use "BONUS" in my budgets. It is exactly what it states, a bonus, if the company has a bad year this is the first to go.

Without this "BONUS" you are negative cash flow monthly.  Is this a correct statement?

LivingTheory

  • 5 O'Clock Shadow
  • *
  • Posts: 57
  • Age: 35
  • Location: USA
Re: Case Study - Life Optimization Tips
« Reply #4 on: July 03, 2018, 10:57:14 PM »
My numbers may be a little off, our net income is around $55k without the bonus, but the picture doesn't change much with that update. Appreciate the kind words. Though we're definitely in a house-poor situation month-to-month. When we got the house the situation was a lot different, we were making about $120k together. It's a downside of sharing the income burden: you may lose a good percentage if one SO has to come home. Hopefully I can get our income back to that level. At least we have the investments as a safety net if something happens to our cashflow. Worst comes to worst, my SO can also go back to work and bring in $70k with OT while I job search. So I don't foresee losing the house in any scenario but would like to finish paying for it a lot sooner than my kid's middle school years. If that's not feasible, maybe a lower cost of living area would be worth pursuing. We're in a very hot market with low supply.

gpyros85

  • Stubble
  • **
  • Posts: 165
Re: Case Study - Life Optimization Tips
« Reply #5 on: July 03, 2018, 11:06:36 PM »
It seems to me you are stressed my friend. You came for "Life Optimization Tips" This is more than financial and I think would help this situation out. House is a material item and don't know if you are in a HCOL and you are living in a lower end property or LCOL and purchased more house.

You are not stuck without options, many options as you stated having equity is the game changer coupled with hot market.

I hate to live life with the stress of well I will get paid XX and it will make life better.. This adds stress to life, what if you don't get that raise next year? What if XX doesn't happen. Plan your financials for now.

What field are you in? If you are willing to relocate it is also a hot market, perhaps you can relocate on the company dime and get the $18,000 realtor fees charged to a company. I have done this with 2 houses of mine.

LivingTheory

  • 5 O'Clock Shadow
  • *
  • Posts: 57
  • Age: 35
  • Location: USA
Re: Case Study - Life Optimization Tips
« Reply #6 on: July 03, 2018, 11:22:38 PM »
Appreciate the thoughts. Very helpful just to put it in writing and get to the root of my feelings. I'd call our area MCOL with expensive housing, inexpensive everything else. The house is basically entry-level for a single family home outside of the city.

jlcnuke

  • Pencil Stache
  • ****
  • Posts: 931
Re: Case Study - Life Optimization Tips
« Reply #7 on: July 04, 2018, 09:06:12 AM »
My numbers may be a little off, our net income is around $55k without the bonus, but the picture doesn't change much with that update. Appreciate the kind words. Though we're definitely in a house-poor situation month-to-month. When we got the house the situation was a lot different, we were making about $120k together. It's a downside of sharing the income burden: you may lose a good percentage if one SO has to come home. Hopefully I can get our income back to that level. At least we have the investments as a safety net if something happens to our cashflow. Worst comes to worst, my SO can also go back to work and bring in $70k with OT while I job search. So I don't foresee losing the house in any scenario but would like to finish paying for it a lot sooner than my kid's middle school years. If that's not feasible, maybe a lower cost of living area would be worth pursuing. We're in a very hot market with low supply.

Wait, your SO has the potential to boost your income by another $50k/year and you're not doing that while your budget is this strapped? In a MCOL area, even accounting for childcare costs, that would likely provide a HUGE buffer between your income and your expenses.

midwesterner1982

  • 5 O'Clock Shadow
  • *
  • Posts: 46
  • Age: 41
    • Follow the link to open a Personal Capital acct and we both get $20 Amazon Gift Card!
Re: Case Study - Life Optimization Tips
« Reply #8 on: July 04, 2018, 09:33:35 AM »
Congrats on having very good assets for your age.  I would take a breath and appreciate you’re still in a very good position even if you don’t prepay the mortgage and give yourself some cushion right now.  If you do get that raise then you can go back to making extra payments if you want.

LifeHappens

  • Senior Mustachian
  • ********
  • Posts: 12211
  • Location: Tampa-ish
Re: Case Study - Life Optimization Tips
« Reply #9 on: July 04, 2018, 09:49:02 AM »
Just feeling the pinch on a monthly basis when $5,000 comes in the door and $4,400 is already earmarked for mostly-fixed expenses. The extra $600 we're splitting between $300 to the mortgage and $300 to the 529 to try to make more progress than just covering the bills and putting money into the 401k. Maybe I'm just stressing for no reason and this is a temporary problem but I feel like I need more wiggle room each month to feel more confident. Would you make any major changes in our situation or just keep plugging away and hope for a bump in income?

I want to give my family the best life possible and don't want to spend the best years of my kid's life trying to keep a mortgage payment going. Anything I can do to get the house paid off and bring the investment accounts up to $600k before he's too old to want to play with me would be great. We were making such quick progress in prior years that maybe my view is distorted and I need to chill. I just want this so badly for our future. Thank you.
Like you said, with the birth of your child your costs went up and your income went down. Having one parent work part time or stay at home is a personal choice. Do you both find the financial sacrifice worthwhile? If so, you need to accept that your cashflow will be tight until you are in a position to earn more.

Others have mentioned the house is pretty expensive for your current income and they're correct. Again, is it worth it to you to keep the house, knowing it's going to be tight until you can earn more income?

Something you can do RIGHT NOW is stop paying extra on that mortgage. At 3.375%, that is some of the cheapest money you can get. See the Investment Order thread for suggestions on where else to put that money.

BobTheBuilder

  • Stubble
  • **
  • Posts: 221
Re: Case Study - Life Optimization Tips
« Reply #10 on: July 04, 2018, 09:51:28 AM »
It might make sense to move the extra payments on the mortgage into a intermediate term treasuries when the FED hiked the next 0.5%. That would leave you with very little difference in interest and you would be more flexible with your money allocations. Since you are already ahead of your mortgage term, there is no risk looming at 2030.

And maybe revisit you cell phone bills?

formerlydivorcedmom

  • Pencil Stache
  • ****
  • Posts: 701
  • Location: Texas
Re: Case Study - Life Optimization Tips
« Reply #11 on: July 05, 2018, 10:22:43 AM »
don't want to spend the best years of my kid's life trying to keep a mortgage payment going. Anything I can do to get the house paid off and bring the investment accounts up to $600k before he's too old to want to play with me would be great. We were making such quick progress in prior years that maybe my view is distorted and I need to chill. I just want this so badly for our future. Thank you.

Your goals are to pay off the house and get the investment accounts up to $600k.  Are you thinking that will be FIRE-level stash?  That doesn't take into account major home maintenance (a new roof will be necessary at some point) or increased healthcare costs, or increased kid costs as your little one gets older (or gets siblings).

Your spending is not at crazy levels.  It really sounds like you are caught between competing priorities:
  • have a stay-at-home parent
  • live in an area with highish house prices
  • save a significant amount towards child's college
  • retire early

This seems to be the order that the two of you are prioritizing your saving.  Does that accurately reflect your priorities?  Because if so, these choices may mean that you don't get to retire until your kid is in middle school, but your SO has gotten to spend all that time with your kid.  Will that lead to resentment?

Pretty much all parents struggle with whether they are spending enough time with their kids.  I was a SAHM for 9 months with the oldest and then went back to work full-time (I couldn't handle an infant full-time), and I've felt guilty ever since.  After my divorce 7 years ago, I became the primary breadwinner for our family.  I outearned my new husband, so he became a part-time SAHD/full-time student for the last 3 years, and that assuaged a lot of my guilt - they had A (step)parent home, even if it wasn't me.  He's graduated and is going back to work, but he found a job at a school district, so he will still be home with them a lot.

Our kids are 9-12 now.  I enjoy spending time with them now much more than I did when they were younger.  They are way more interesting and less demanding, and they actually remember the things we do together.

 I'm looking at reaching FIRE right about the time the middle or youngest graduate from high school.  It makes me feel even more guilty to think that I'll have worked so long while they were here and then be able to quit as soon as we shoo the last of them away.  My plan is to coast - we'll get to somewhere around 60% of our number, and I will shift into a part-time or contract role.  That would give me a lot more flexibility to be around when the kids are in high school.

That long anecdote is simply to say - this is not an All or Nothing journey.  You have choices.  You and your SO need to make sure you are on the same page about your priorities and think outside the box.  Would it make more sense to rent?  Would it make sense for SO to work full-time now?  Maybe when child goes to school?  Are you in a career/industry that allows for part-time work or a periodic leave without pay?

Civex

  • Stubble
  • **
  • Posts: 195
Re: Case Study - Life Optimization Tips
« Reply #12 on: July 05, 2018, 12:13:27 PM »
Hello!

We have similar situations (ages, baby, even our mortgages are similar amounts.)

I would recommend not contributing any extra to your mortgage right now and set that $300 into your EF, which IMO is on the low end for what is essentially a one income family at the moment. By taking the 15 year mortgage you are already contributing a larger amount to the principle than if you had gone with a 30 year.

I'd consider moving from the 529 contributions to the HSA. It is more tax advantaged. I would contribute any cash gifts from to 529.

Why is your auto insurance so high, is it a typo? You say the vehicles are worth $7k, but are paying $3k/year for insurance-if correct, that is way, way too high. Drop both to liability, and you should be at ~70/month.

You should be able to drop your cell phone costs-read up the telecommunications guide by IP Daley-we have 2 iPhones + data plans for $60/month.


It really seems like you want everything at once-what I always try to remind myself is that I can anything I want, but not everything. Right now you are trying to build the portfolio, greatly improve your earning ability, have a stay at home wife, and spend significant family time---try to prioritize and focus on what is the most important to you.

LivingTheory

  • 5 O'Clock Shadow
  • *
  • Posts: 57
  • Age: 35
  • Location: USA
Re: Case Study - Life Optimization Tips
« Reply #13 on: April 22, 2019, 10:26:17 PM »
Life Update Since Last Posting:

It's been almost one year since I made this post and I'd like to share that things have improved. Thank you all for the support. You were right that I was focused on too many things. There are efficiencies in giving full effort to a singular goal before moving on.

Within the last 6 months I received a promotion that I was angling for, bumping my annual income to $90k with a potential $20k bonus. My SO is still working part time and doing an amazing job of balancing everything (we both are but it's my turn to praise them). Our gross income is now $120k - $140k, broken down into $90k base, $30k SO base, and $20k bonus. There's significantly more wiggle room in the household budget each month.

We've decided to maintain our minimum investing plan (15%) but to also attack the mortgage as our main goal. Anything that comes in over our monthly expenses goes directly to the loan balance. It's currently sitting at $260k while the house FMV has risen to $400k. The mortgage should be roughly $180k by the end of next year. Seeing an extra $2k/month go against our amount owed has been really rewarding. I definitely have the motivation back that got us to this point initially.

Updated Balance Sheet
Assets                   $725k
Debts                    $260k
Net Worth              $465k

Current Goals
Pay Off House by Ages 35 and 33
Reach $500k Net Worth Before SO Turns 30
Reach $1mm Net Worth Before I Turn 37
Decide On Living Closer to Family Next Year
Improve Fitness (deciding on metric still)
Earn $200k Household Income Before 40
« Last Edit: April 22, 2019, 10:29:33 PM by LivingTheory »

MoneyizHere

  • 5 O'Clock Shadow
  • *
  • Posts: 40
Re: Case Study - Life Optimization Tips
« Reply #14 on: April 23, 2019, 07:54:06 AM »
If you're still interested in optimizing -

You should ensure that you personally contribute at least $19k to your 401k plan, and fully fund an tIRA for both you and your wife @$6k each, and $7k to your HSA.
 
Only after you fill out those priorities - should you then pay down your mortgage and fund the 529 any further. 

Laura33

  • Magnum Stache
  • ******
  • Posts: 3510
  • Location: Mid-Atlantic
Re: Case Study - Life Optimization Tips
« Reply #15 on: April 23, 2019, 09:07:11 AM »
If your goal energizes you, and you're happy with the progress you're making, that's fine.  But if you really want to optimize, you are exactly bass-ackwards.  To maximize your path to FIRE:

1.  Stop prepaying on the mortgage.  You are getting only a 3%-ish return, AND lowering your potential tax deductions (assuming you have enough to make it worth itemizing). 

2.  Max out your HSA and 401(k) right now.  That allows you to (1) obtain a higher return by putting the money in the market, where (2) it will grow faster because you do not pay taxes on it until withdrawal, and (3) you get to decrease your income taxes, because 401(k) contributions don't get reported as income.  And (4) when you FIRE, you can use any number of withdrawal strategies to take money out with little to no income taxes, so all that growth is tax-free, not just tax-deferred.  That is a win-win-win-win.

3.  See if you are eligible for a deductible traditional IRA (since you are covered by a plan at work, there are income caps to be able to deduct the contributions).  If you are, save as much as you can in IRAs for you and your SO as well.  Same benefits as (2) above.

4.  If you still have cash to invest, put it into a 529, if your state provides a tax deduction for doing so.  Worse comes to worst, if you don't have enough to pay for college when the time comes, you can decrease your contributions to (1)-(3) above and let all that money continue to grow tax-free for four years while you divert the new contributions to the college.

1 and 2 are critical.  The key is the power of compounding:  the dollar that you put away right now, today, for your retirement is the most important dollar you will ever invest -- and tomorrow's is more important than the day after tomorrow, and so on.  Rule of 72 says that if you get a 7% return, your 'stache will double about every decade.  So if you have $10K in the market today, in 10 years that will be $20K, in 20 years, it will be $40K, and in 30 years it will be $80K.  But if you spend the next 10 years paying off the house, you only have half as much -- you miss an entire doubling, just because you waited to start investing. 

Note that putting the money toward the mortgage doesn't work the same way:  your house will be worth whatever it is worth in 30 years regardless of whether you have 1% equity or 99% equity.  Sure, you'll carry your @3% payment longer, but you'll be making @$7K on that money, so your net worth will increase much faster by focusing on your investments first.

The bonus is that because the 401(k)/HSA contributions come off the top of your income, you can contribute more money to your investments than you can to paying down the mortgage.  Say your marginal state-and-fed tax rate is 20% (totally making this up).  That means for every dollar you earn (up to the max), you can put an entire dollar into your investments.  OTOH, if you divert that money to the mortgage instead, you can only pay $0.80, because you pay down your mortgage with post-tax money.  So again, you make progress much more quickly throwing that money at your tax-protected investment accounts than you do focusing on the mortgage.

In any event, great progress over one year -- good luck and keep it going!

LivingTheory

  • 5 O'Clock Shadow
  • *
  • Posts: 57
  • Age: 35
  • Location: USA
Re: Case Study - Life Optimization Tips
« Reply #16 on: April 25, 2019, 04:26:19 PM »
If your goal energizes you, and you're happy with the progress you're making, that's fine.  But if you really want to optimize, you are exactly bass-ackwards.

Thank you for taking time to reply. When cash flow was tight I was more concerned with squeezing the most optimal path out of my resources. Now that we have some breathing room we’re more comfortable aligning our monthly plans with where our true passion lies: shoring up the balance sheet and reducing debt. Mathematically it may not be the ideal path but the house will be paid off in 5 years and paid WAY ahead by 3 years. We’re maxing 401k this year and can always adjust in future years as we see fit. The compounding of investments only matters if we see positive returns during this window. If so, we missed some gains but acquired additional peace of mind. If not, then we’re no worse off and can attack investing at a much higher pace with all of the freed up cash flow. Either way, we’re comfortable with the outcome and understand the potential trade offs.

LivingTheory

  • 5 O'Clock Shadow
  • *
  • Posts: 57
  • Age: 35
  • Location: USA
Re: Case Study - Life Optimization Tips
« Reply #17 on: April 25, 2019, 04:30:56 PM »
If you're still interested in optimizing -

You should ensure that you personally contribute at least $19k to your 401k plan, and fully fund an tIRA for both you and your wife @$6k each, and $7k to your HSA.
 
Only after you fill out those priorities - should you then pay down your mortgage and fund the 529 any further.

Thank you. We’re less focused on optimizing and more focused on singularly attacking what matters most to us. I believe we’ll get further, in less time, if we focus on what motivates us most. Maybe 2 or 3 years from now we pull back on the mortgage, recast the loan, and plow ahead with a lower monthly payment. Who knows. I’m fine giving up some investing optimization in order to shore up the balance sheet though. We already have $300k+ in retirement accounts so not hurting there at least.

Hopefully I can come back soon and tell you that we have a paid-for house and $600k+ in investments regardless. Wouldn’t quit our jobs but that’s another level of financial security that would mean a lot to our family.

Scotland2016

  • Stubble
  • **
  • Posts: 144
Re: Case Study - Life Optimization Tips
« Reply #18 on: April 25, 2019, 09:33:42 PM »
Decide On Living Closer to Family Next Year

As someone who wants to pay off my own mortgage I'm not knocking your plan, but why you want to do it if you are thinking about moving?

LivingTheory

  • 5 O'Clock Shadow
  • *
  • Posts: 57
  • Age: 35
  • Location: USA
Re: Case Study - Life Optimization Tips
« Reply #19 on: April 25, 2019, 09:43:14 PM »
Decide On Living Closer to Family Next Year

As someone who wants to pay off my own mortgage I'm not knocking your plan, but why you want to do it if you are thinking about moving?

Totally fair question. It’s not a serious consideration right now. Spouse and I are just struggling with not having kid support nearby and a couple of my family members may be moving to new cities soon. We’re just keeping an open mind in case a good situation presents itself to be nearer to family. Ideally we would find our rhythm where we are and not move. We love our house and state. This is just a bullet point because we’ll need to have the discussion at some time. I’d be really happy to still be here for another 5+ years.

Laura33

  • Magnum Stache
  • ******
  • Posts: 3510
  • Location: Mid-Atlantic
Re: Case Study - Life Optimization Tips
« Reply #20 on: April 26, 2019, 06:39:47 AM »
The compounding of investments only matters if we see positive returns during this window.

Actually, you want the market to be as low as possible in your early years, so you're buying more shares for the same dollar.  Not that any of us can control or even foresee that anyway.

LivingTheory

  • 5 O'Clock Shadow
  • *
  • Posts: 57
  • Age: 35
  • Location: USA
Re: Case Study - Life Optimization Tips
« Reply #21 on: April 26, 2019, 11:34:13 AM »
The compounding of investments only matters if we see positive returns during this window.

Actually, you want the market to be as low as possible in your early years, so you're buying more shares for the same dollar.  Not that any of us can control or even foresee that anyway.

Bottom line is that the TVM calc isn’t as important as it’s touted to be because returns aren’t linear, sequence of returns muddies the water. If we were going down this path for 20 years then sure, it REALLY matters. But reality is that we’re choosing this route for 3-5 years max, while still investing $25k-$30k per year, and have the chance to adjust course up or down along the way.

MrThatsDifferent

  • Handlebar Stache
  • *****
  • Posts: 2317
Re: Case Study - Life Optimization Tips
« Reply #22 on: April 27, 2019, 10:52:09 PM »
Thanks for the update. I think Laura has given you incredible advice, as always, but it seems you’re not interested in that as your sole focus is paying off the mortgage. No point in going into that, you’re clearly smart and have read the pros and cons and picked your path. You’re family is doing great, far better than most of us at your age and since you don’t care about the money you’re leaving behind, keep doing what you’re doing. Not sure what more the case study can bring you, maybe a journal to track your progress?

LivingTheory

  • 5 O'Clock Shadow
  • *
  • Posts: 57
  • Age: 35
  • Location: USA
Re: Case Study - Life Optimization Tips
« Reply #23 on: April 28, 2019, 04:31:39 PM »
Thanks for the update. I think Laura has given you incredible advice, as always, but it seems you’re not interested in that as your sole focus is paying off the mortgage. No point in going into that, you’re clearly smart and have read the pros and cons and picked your path. You’re family is doing great, far better than most of us at your age and since you don’t care about the money you’re leaving behind, keep doing what you’re doing. Not sure what more the case study can bring you, maybe a journal to track your progress?

I started the thread last year for feedback/advice and took it to heart when making changes. I came back to provide an update. I don't believe that the thread has to continue to have a purpose beyond that. I just wanted to circle back with you all about what we decided and then I replied to the various comments. I'll post my future updates elsewhere.