5 Expenses takes that take half our lifetime earnings

5 expenses

that take half our lifetime earnings:


House 

Assuming a 20 percent down payment, a 30-year fixed rate mortgage, and interests rates in the 5 percent to 6 percent range, the three times your income rule of thumb will translate into total housing costs of roughly 30 percent of your gross income. (I can show you how to reduce this cost dramatically*)


Wheels 

Don’t let your car drive you to the poor house. The same logic applies to your car. Most people can comfortably afford a car that is a third of their annual income. If you make $60,000 you can comfortably afford a car that costs $20,000. (I can show you how to get new/old vechicle for less than the market price*)


Kids 

Don’t let your kids kick you in the wallet. Kids are expensive. From a purely clinical standpoint the Dept. of Agriculture estimates it will cost $220,000 to raise a child born in 2008 from diapers to age 18. (I can show you how to reduce cost of raising kids)

Education 
Don’t forget to ask “How high is too high for higher education?” It used to be good debt was defined as mortgage and student debt — and bad debt was everything else. Not any more. (I can show you how get quality education of less price*)

Retirement 
So if you make $50,000 a year and want to maintain that standard of living in retirement, you’ll need a nest egg of at least $1,250,000. Understanding early on in your working life what “your number” is will help you see just how important it is to plan for this major savings goal. (I can show you how you can double you retirement fund*)