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$100k salary isn’t much living in NY as a “homeowner”.
When my DIL was single and making in the $80K range she was living in a small basement apartment. My son bought his house while he was still single, so the mortgage, homeowners insurance, etc etc was and is entirely on him. Not sure how household expenses were split (if at all) after she moved in and/or they got married, but I do know that the big ticket items (mortgage principal/interest, property taxes, homeowners insurance, Terminix contract, lawn care, repairs) are still carried by my son, not my DIL.
When my DIL was single and making in the $80K range she was living in a small basement apartment. My son bought his house while he was still single, so the mortgage, homeowners insurance, etc etc was and is entirely on him. Not sure how household expenses were split (if at all) after she moved in and/or they got married, but I do know that the big ticket items (mortgage principal/interest, property taxes, homeowners insurance, Terminix contract, lawn care, repairs) are still carried by my son, not my DIL.
Pre-nup? When they split she'll go after half his stuff. Happened to a friend of mine. He thought he was home free because he owned the house before marriage. Nope.
I'm equally puzzled. My DIL had over 100K in student loans and has been working as a teacher for the past 10 years, with a starting salary of $60K right out of the gate. She now makes $108K as of the 2016-17 published salary lists. You would THINK that student loan would have been paid off by now, but nope.
His only debt is the interest on his mortgage which is now exactly 50% paid off already with 10 years to go. Forty percent equity in the house outside of the one mortgage, so if he is smart and takes on no further debt they will own the house free and clear by the time their child enters junior high.
You are WAY too knowledgeable about your grown child's financial life. I cannot imagine my parents having this kind of information about me and my siblings much less our spouses.
You are WAY too knowledgeable about your grown child's financial life. I cannot imagine my parents having this kind of information about me and my siblings much less our spouses.
It's called "choosing to share one's information". It does happen sometimes, you know. In my family it was and is common to discuss financial matters, not only between spouses but between parents and offspring both ways. Obviously your family has a different outlook on the subject. Doesn't mean that either of us is "wrong".
Every family has its own point of view as to what is and isn't "proper" to discuss, among the supposed Big Three (politics, money, and religion) of personal matters. In our family religion was never discussed, politics sometimes discussed, and money freely discussed. Different strokes/different folks.
“Three (politics, money, and religion) of personal matters. In our family religion was never discussed, politics sometimes discussed, and money freely discussed. Different strokes/different folks.[/quote]”
Same in my IMMEDIATE family (voluntarily) Hence the reason they were ALL able to retire or going to retire at an early age. While the “others” have NO CLUE and are too busy with fancy cars, vacations, ect.... and still working in their LATE 60’s with no retirement date insite.
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