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Hi, Is Trading & Investing in stocks banned for software engineers in JP Morgan? What about Mutual Funds, are they restricted/monitored ? Can we trade in Futures & Options ? If not equity stocks, can we trade in commodity exchange? Or maybe Forex exchange? Or Cryptos? Just want to know the boundaries of trading & investment and work accordingly! What are your experiences?
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amex platinum >>>> csr if you think about it
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As someone with kids in private preschool, whose mortgage (P&I and HOA included) takes up ~24% of their net, we both max our 401Ks, and still save - you will be fine.
Keep in mind your 3-5 year plans and where your incomes will be for the future you. For most of us, it’s higher.
Also, D1 - There are 3 tier 1 cities and Chicago isn’t one and LA is. And 5 tier 2 (where Chicago actually is).
I’m DC - which is a tier 2 btw.
My mortgage is $3700 (p&i). Also in northern VA. I have two little kids. Don’t max out our retirements and save like $1000/month on a good month. No debt other than a mortgage though. No car payment and no student loans.
You’ll be fine ha
For sure, my spouse and I are both first generation college graduates from working class backgrounds. I realize that some of my corporate colleagues do not understand the reality of being the first on this path.
I wouldn't worry about it. The mortgage will stay at that price for a long time (only escrow will change), and your income should only increase. Year 1 is always tough, but by year 3 it starts to feel easy.
Thanks!
What is the timeline for kids? One or 2 years of decent raises will likely make this a non-issue
I contributed to my 401K, but didn't max out until about 10 years into my career. I'm sure there are some missed opportunities, but we just paid off our house and can now survive on one income.
This was a huge financial goal for us. When the economy turndown happened in 2008, we saw that my job might be vulnerable (husband was a teacher then, so about as recessionproof as you can get), we decided to aggressively pay down our house. The peace of mind of owning my home outright is amazing, and I will happily trade it for a somewhat lower standard of living in retirement.
Lol you a poor. But for real, that’s too high. You either need to refi, make more money, or move to a cheaper location. Consulting cheat code, start working in a tier 1 city (SF, NYC CH) and move to a tier 2-4 city (think LA for 2, Portland for 4). Work remote and keep your home office, it’s free money!
1. Did you put 20% down? If not, may be worth it to try hammer away the PMI and get a lower monthly payment.
2. Can you define what “a little” is in terms of your savings per month?
3. Based only on what you provided, it feels like you overbought a bit and now are factoring kids in which will basically break you.
I try to calculate my “housing” = mortgage (P&I), tax, insurance, etc., + any applicable utilities (don’t forget some annual charges for trash or sewer) should not exceed on a monthly basis 33% EX your 401K contributions (which is not spending, but is saving — that money is still accessible to you). Also — TYFYS!
I wouldn’t panic. Your base will continue to increase so your inability to save as much as you like is short-term. You’re better off that vast majority of the population.
Also, remember, being in Fairfax your property value will increase. Although intangible now - it’s sort of like saving since bank account savings is an investment you are making in the bank of your choice to provide you returns. Property investment is no different.
Again, I think you are well ahead of the curve.