Since you ask,
A few thoughts to add on my original email-
(1) My friend is single income & same age, he has to support his wife (a stay home mom) and one young kid. His annual income is less than me & wife combined annual income.
(2) His estimated total condo & car loan (with interest & maintenance) is $X,XXX,XXX ... projected to finish his total loan when he is around 50.
(3) He spends about 8.5 yr of his annual salary to service his condo and car loan. For us, we are cheapskate, we spend only 2.5 yr of our combine income on our flat.
(4) My wife and I are debt free, except ongoing costs of raising 2 kids. Again we stay simple , they attend close by neighborhood school, no tuition ...
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