Occupation: Operations
Industry: Technology
Age: 38
Location: San Francisco, CA
Salary: $210,000 salary plus $63,000 annual bonus (30%), and 5% ownership in RSUs.
Joint Income/Financial Setup: My husband, W.’s salary: $400,000 base plus $600,000 bonus (bonus is the average he has gotten over the last five years). We have a joint account that all of our expenses come out of.
Assets: $8M ($1.2M 401K, $4M investment accounts, $800K in various bank accounts, $2M equity in home).
Debt: $1M (loan on house)
Paycheck Amount (2x/month): $6,200 (and W’s is $11,000)
Pronouns: She/her

Monthly Expenses

Housing Costs:
Mortgage: $5,500
Loan Payments: $0
Health Insurance: $200
Internet/Cable/Security System: $400
Water/Sewer: ~$250 (depends on the month)
Electricity: ~$650
Garbage: $40
Netflix: $0 (share with family)
Cell Phone: $150
Spotify: $20
GCloud: $1.99
iCloud Storage: $2.99
Disney+: $7 (share with our families)
Donations: $500 (Planned Parenthood, Red Cross, American Heart Association, Habitat for Humanity, etc.)
Preschool: $3,000 (will be increasing to $5,000 for K. in the fall)
O.’s extra-curricular activities: $500
Undergraduate Donation: ~$2,000 annually
Homeowner’s Insurance: $2500 annually
Car Insurance: $2250 annually
Car Registration: $750 annually
Property Taxes: $29,000 annually
Amazon Prime: $119 annually
Chase Credit Card Fees: $795 annually
Amex Credit Card Fees: $795 annually

Was there an expectation for you to attend higher education? Did you participate in any form of higher education? If yes, how did you pay for it?
Yes. From a very young age, my parents were clear that college was an expectation, not a question. Education was a central value in our household and academic success was strongly emphasized. My parents paid for my undergraduate education and expenses. While I considered getting an MBA and applied, I never followed through on enrolling after deferring.

Growing up, what kind of conversations did you have about money? Did your parent(s) educate you about finances?
Due to my dad’s career, money was discussed openly and regularly in our household. My parents were transparent that we had a privileged upbringing. My parents both came from families where they didn’t have to budget or track spending, and I had a similar upbringing, as well. One consistent principle they emphasized was avoiding debt whenever possible and prioritizing financial stability and long-term planning.

What was your first job and why did you get it?
My first job was a summer internship in college at a financial services firm in NYC. I got the internship to build my resume. My parents paid for my summer expenses in NYC. I was a Resident Assistant in college and got paid for it. I invested the income from it and we ended up using it as part of our down payment for the house we bought in San Francisco.

Did you worry about money growing up?
No. My parents consistently provided for everything we needed and most things we wanted. We were aware that we grew up with the ability to not have to worry about our financial position. I got quite a bit of flak about calling myself upper middle class in my previous diary. I stand by that assessment — I compare myself to those who grew up in the same city and my neighbors. In the area where we lived, we were upper middle class, but for the rest of the broader US or global population, we were in the top 1%.

Do you worry about money now?
We don’t track our expenses or worry about what we are spending daily. In my last diary, I was concerned about the future, but over the last two years, we have significantly increased our assets. I worked for a tech company that had a successful IPO, and the company my husband works at has paid him well in the 10 years he has been there. Also, he has a large upside if he continues to perform well. If my husband and I maintain our current lifestyle, with minimal creep, we will be more than fine for the future.

At what age did you become financially responsible for yourself and do you have a financial safety net?
I started being self-sufficient when I graduated from college and started my first professional full-time job. My parents and W.’s parents have been our safety nets since we graduated from college, but we were fortunate to never rely on them. Over time, we have noticed that my parents have been more generous with us than W.’s parents.

Do you or have you ever received passive or inherited income? If yes, please explain.
I received passive income in college to pay for expenses outside of room and board and tuition. This worked out to be about $20,000 over four years of college. My parents contributed $20,000 for my wedding, W.’s parents contributed $20,000 as well, and the remaining we covered. When our son was born, my parents gave me $25,000 and we used that to start a 529 for our son.