Home Economics No. 24: Atlanta Couple Earning Over $200k Who Bought a Home with Their Crypto Earnings

Actually, they bought two houses.

Is it OK to admit here that I’m in a bad mood? It’s been simmering for weeks, and you should feel a little sorry for Ken that he has to live with me. There are so many reasons I’m crabby. For one, I signed up for too much this winter, and I’m overwhelmed by the amount of work I have to do. It’s impossible to get it all done, and I’m dropping all the balls, which makes me feel terrible. And also I’m tired, because it’s hard to work this much.

Also, have you read the news lately? Like, how are we supposed to function when things are just so insane? I turned off my news notifications years ago, and I try to limit how much I consume, but you can’t completely ignore it because 1) that just doesn’t feel responsible, and 2) everyone else is talking about it all the time. Last week, I went out twice with friends, and our collective anxiety was the number one topic of conversation, which doesn’t make for a very relaxing or fun evening. Even when I see my parents, we end up spending half the time playing out absolutely worst-case scenarios of what could come next. It’s exhausting. And really sad.

What I’m going to write next is going to sound very selfish, but what the hell. This is one of the things I dreaded most following last year’s presidential election. I knew this administration would suck all the oxygen out of the room, and that we would waste so much fucking time thinking and talking and agonizing over their every little move. And here we are, doing just that. And it sucks! What’s worse is that I don’t even know what to do to make things better. I feel paralyzed and hopeless.

Since I can’t completely succumb to my sadness and just crawl under the covers for the next four years (I have to believe it’s only four years), I have to keep going. I just hope at some point I can shake this crabbiness. Because Ken’s patient, but no one wants to live with a grump full time.

How are you managing right now? Sending you a virtual hug if you too feel like shit. Solidarity, sisters (and brothers).

And perhaps I can distract you for a little while with this fun Home Economics, featuring two financially savvy 30-somethings in Atlanta. I hope you enjoy!

I’m always looking for new Home Economics contributors. You can fill out the form here.

Age: 34
Location: Atlanta
Relationship status: Married
Age of partner: 37

About me: I’m a first-generation immigrant, working in the TV and film industry, and I live with my husband, baby, and dog.

Income:

1. Your job title/salary: Graphic artist, $110,000

2. Partner’s job title/salary: UX/UI designer, $100,000

3. Your monthly take-home pay (paycheck amount after taxes and other deductions): $4,500

4. Partner’s monthly take-home pay (paycheck amount after taxes and other deductions): $4,300

5. Additional monthly income: We get an additional $3,000 in income from investment dividends and selling cryptocurrency. I bring in an additional $250 a month freelancing. We also receive $2,000 a month from our rental property. (We rent to my husband’s family; all of the rental is set aside for home maintenance and improvements.)

6. Total monthly income: $14,050

Account balances:

7. Checking account balance: We have a total of $32,000 across three checking accounts.

   • My checking account: $6,000

   • My husband’s checking account: $18,000

   • Shared account for rental income: $8,000

8. Savings account balance: N/A

9. High-yield savings account balance: $103,000 (APY: 3.8%)

10. Monthly contribution to savings account: $1,500

11. Retirement account(s) balance: These are combined balances for brevity.

    • Roth IRAs: $342,000

    • 401(k): $89,500 (mine only; my husband rolled his 401(k) into an IRA)

12. Monthly contribution to retirement accounts: ~$2,900. My company doesn’t offer a match, but I still max out my 401(k)—it’s around $2,000 a month. I also save monthly to max out my IRAs and HSAs in January (which amounts to ~$900 every month).

13. Investment account balance: We have his-and-hers individual brokerage accounts.

    • My brokerage account: $211,000

    • My husband’s brokerage account: $610,000

14. Monthly contribution to investment accounts: $3,000

15. 529 account balance: We don’t have a 529 account, and at this point, we don’t plan to set one up.

16. Emergency fund balance: Our high-yield savings account contains our emergency fund—$36,000 is earmarked for emergencies.

17. Goals-oriented savings accounts (indicate what kind of accounts and how much you’ve saved): The bank where we have our high-yield savings accounts allows us to have “savings vaults,” so I like to categorize different vaults for goals like house improvements, daycare, new wardrobe, and a new car.

Total in checking, savings, and investment accounts (includes HSA and donor-advised fund mentioned below): $1,540,500

Housing:

18. Size of your home: Our primary residence is a two-story, 2,700-square-foot, four-bed, two-and-a-half-bath home. We also own a 2,100-square-foot, three-bedroom, two-bath townhouse/rental property. It’s nearby, and my in-laws live there and pay us rent.

19. Mortgage: $0. We bought our primary home and rental property using all cash.

20. Current home value:

    • Primary residence: $560,000

    • Rental property: $375,000

21. Current mortgage balance: N/A

22. Year you bought your home: We bought our house in 2021 at the height of the housing market frenzy, and we bought the rental property in 2024.

23. Price you paid for your home:

    • Primary residence: $475,000

    • Rental property: $369,000

24. Mortgage interest rate: N/A

25. How much was your down payment? We didn’t have a down payment because we paid for both houses with cash.

26. How long did it take you to save for the down payment? We basically started saving for a down payment for a future home as soon as we started dating. During the pandemic, we were living in a tiny apartment, and we were desperate for more space. We had saved up a pretty sizable down payment, but also the housing market was just crazy with all these bidding wars. At the same time, our Bitcoin invest shot up, and we realized we were over-invested. So we decided to sell the Bitcoin and use our earnings to buy our home. When Bitcoin increased again last year, we decided to cash out again and buy the rental property. It was truly just dumb luck that we were able to make so much on Bitcoin and cash out at the right time.

27. Did you have any family help buying your home? No.

28. Home taxes: ~$1,000 a month for both properties

29. Home insurance: $4,500 annually for both properties

30. Electricity: Averages out to ~$250

31. Water: Averages out to ~$100

32. Natural Gas: Averages out to ~$80/average

33. Cell phone: $120

34. Internet: $180 for both properties

35. Housekeeper: $280 for a biweekly cleaning

36. Gardener: N/A (but looking into getting one soon)

Transportation:

37. Monthly car payment: Both our cars are paid off. My husband took out a lease for his car, which he bought before the lease period ended. And we bought my car with cash.

38. Car insurance payment: $1,000 annual

39. Gas: $50 (we both work remotely)

40. Car maintenance: We budget $50 a month for car maintenance.

Children:

41. Number of children and their ages: We have one baby.

42. Child care: $0. We’re so fortunate that my mother-in-law lives nearby and cares for the baby during the workweek.

43. Extracurricular activities: Varies per month, but we regularly do swim lessons ($15/session) and music classes ($45/session). I’d estimate ~$50 total, but sometimes it’s more or less.

44. Other: We set aside $800 each month into our savings so we can get used to paying for the cost of daycare. We like to do this to see how introducing a new expense will impact our budget.

Debts:

45. Student loan total balance: $0. My husband and I both took out loans for public universities. My loan total was $27,000, which I paid off in three years after graduating. His loan total was $30,000, which he paid off in five years after graduating.

46. Credit card balance (if you carry a balance month to month): $0. We pay off our credit cards in full every month.

Food:

47. Groceries: $800 + $250 a week for a meal-subscription service for my family and my in-laws. We get most of our groceries delivered from Whole Foods once a week (typically $150–$200 per order). I meal-plan three home-cooked dinners, lunches, and baby-friendly meals every week (enough for leftovers). With the meal-subscription service, local chefs prepare meals that are delivered to our home. I’ve found it’s an easy and convenient way for my husband and I to have lunches.

48. Dining out: $200. This includes days when we order takeout for dinner and the occasional lunch outing on the weekend.

Socializing and Entertainment:

49. Subscriptions (streaming services, magazines, etc.):

    • YouTube Premium: $25

    • New York Times: $5

    • Patreon: $10

    • Discord Nitro: $10

50. Memberships (museums, etc.):

    • Children’s museum: $250 annually

    • Outdoor play farm season pass: $175 annual

51. Movies, concerts, other events: ~$200 every quarter on show/concert tickets. We’re lucky that my mother-in-law babysits on these nights.

52. Entertain and socializing other: ~$50–$100 a month toward entertaining friends and family, usually hosting dinner or a game night at our house

53. Travel: Our joint travel budget is $6,000 per year while our baby is young. We’re visiting family across the country this spring, and we’ve spent ~$4,000 so far on first-class seats on flights, car rental, and hotel. I budget $500 on a yearly girls’ trip. We mostly visit with each other and do low-key activities like hiking and dining out.

Miscellaneous:

54. Clothing: $250. This is mostly for the baby, but I’m also building a wardrobe for my new postpartum body’s comfort.

55. Home supplies: $100. This includes baby things like wipes and toiletries, as well as cleaning supplies like paper towels, toilet papers, Ziploc bags, etc.

56. Exercise: $10 for a yoga app subscription.

57. Personal and self-care (haircuts, manicures, massages, etc.): Averages to ~$75, which covers haircuts and the occasional spa day

58. Pet supplies: $150, which includes grooming, food, treats, toys, and medicine

59. Pet insurance: $25

60. Donations: This year we finally opened a donor-advised fund, which currently has $95,000. So far this year, I’ve donated $500 to L.A. Wildfire relief and $1,000 to local animal shelters.

61. Events (birthday parties, etc.): I set aside $100 a month to save up for the baby’s first birthday. (Though I plan on upping this over the years.) We probably spend $200 on monthly date nights/activities.

Insurance:

62. Life insurance: $35/month for two term-life insurances

63. Health insurance: We don’t have insurance through our jobs, so we pay $900 out of pocket for a high-deductible plan that allows us to have an HSA. I also spend $150 a year on vision insurance. We don’t have dental, because it didn’t make sense financially. (The premiums were as high as just paying out of pocket.)

64. HSA contribution: $715/month for both of our HSAs

65. HSA balance: $58,000

Total monthly spending (includes savings and investment contributions + annual expenses divided by 12): $8,547.90

Tell us more:

66. What are your top financial priorities?
    My husband and I value financial independence, and we want to get ourselves into a position where we can choose where and how much we want to work (if at all!). Our goal is to save up 26 times our current salary, which is around $5.5 to $6 million. Right now, we’re on track to hit that goal in the next 10 years.

    
    Besides that, we both want to set our little one up for success, assist our parents with their retirements, and give back to our community via charitable giving and volunteer work.
    

67. How do you feel about your current financial situation?
    We’re incredibly, unimaginably fortunate. I never would have dreamed I’d be in this situation. I’m so grateful for my parents’ financial support (they paid for my first three years of university), but also for their moral support and encouragement. I’m the only one in a creative field, while the rest of my family are either doctors, engineers, or lawyers.
    
    But truly a lot of the credit goes to my husband, for whom investing and optimizing our finances is a favorite pastime. I’ve learned a lot from him about setting up a good financial foundation!
    

68. What are your money stressors?
    My biggest money stressor is career security, and I worry about having enough savings to feel secure if/when I am out of a job. I work in a pretty volatile and unpredictable industry, so I can’t assume my income will stay as it is for as long as I need it to hit our goals.
    

69. Do you expect to receive (or have you received) an inheritance from a family member?
    I’m not expecting an inheritance. My parents’ will states I’ll inherit their house, but they will have to sell it to realize their retirement funds.
    

70. Do you receive any financial support from your family?
    As I mentioned earlier, my parents have been incredibly emotionally supportive, and they paid for the first three years of my education.
    

71. Do you financially support any family members beyond yourself and your nuclear family?
    Both my husband and I plan on supporting our parents as they get older. His parents are retired and currently live in our rental property, and I’m helping my parents get their finances in order so they can retire in a few years. I also currently subsidize my younger siblings’ savings (I match 50% of what they contribute to their IRAs, to be put into their savings account), and I gift them random amounts throughout the year.
    

72. How do you and your partner split your finances? How did you decide to go that route?
    For the first few months we lived together (after about two years of dating), we had completely separate finances and would send each other money at the end of the month to “true up.” It became such a pain in the butt that we quasi-combined after that. We assigned our bills to go to either one of our accounts (making sure it was equitable depending on our income ratio), saved a percentage of our incomes, and then each had an equal stipend of fun money to spend per month. It wasn’t until we started house shopping after 10 years of being together that we considered fully combining, just to make the process smoother. We still have our separate checking accounts for direct deposits, but all our funds flow into a joint account now.
    

73. What is one financial goal(s) you still want to achieve?
    If spending money without feeling guilt is considered an achievement, then that’s it. This is a topic I’ll bring up with my therapist. We have several “savings vaults” in our high-yield account that are earmarked for different purchases, but sometimes I have a hard time actually spending the money I set aside.

    
    I’m also very focused on our baby’s education. I’d love to give them a wide variety of experiences to help them learn what it is they enjoy, what they’re good at, and what fulfills them. And I want to be able to pay for private school if that’s what they need.
    

74. Tell us about one financial accomplishment you’re proud of.
    It was the time I maxed out my 401(k) in less than four months! I started a new job in summer of 2022, and I became eligible for my first ever 401(k) that fall. My husband and I jumped at the opportunity for more tax-deferred savings. I upped my contribution to 90%, and for months, my weekly pay stub showed $25 net pay total. It took right up to the last paycheck of December to max it out, but I pulled it off! It was an unexpected but rewarding low-buy season for me.

    
    I also can’t overstate how incredulous and nervous I felt buying our homes in cash. We probably should’ve taken out a mortgage on our primary residence since rates were so low back then, but we ultimately wanted to decrease our position in cryptocurrency, which was at an all-time high at that point.
    

75. What do you regret spending your money on the most?
    I spent too much money on “skilling up” online courses that I wasn’t very interested in and never finished. I realize now that I was burnt out from my job at the time, and I felt like I needed a backup plan in case I had to switch careers.
    
    Also, I’ve signed up for so many disappointing clothing subscription boxes. I’ve since learned that I’m happiest wearing charmingly ugly sweaters from the thrift store racks.
    

76. What is one thing you spend money on that makes your life better?
    I spend on services that can free up my time: lawn maintenance, housekeeping, meal box subscriptions. It allows me more time to spend with my baby while they’re still small.
    

77. What is one thing you spend money on that drives you crazy?
    Adobe subscription, but really any software subscription. Maybe it’s because I remember the days of being able to buy permanent licenses, but the subscription model is so annoying!
    

78. Is there anything else you would like to add?
    I don’t know if I conveyed just how excited we are about finally opening our donor-advised fund. Both my husband and I are progressive in our views, and we are disheartened and dismayed by the current state of our administration and the people in it. Our guiding philosophy on our charitable donations include supporting causes that we care deeply about, protecting rights that we’re concerned are in danger of being eroded at a federal and state level, and where possible donating directly into the community around us where it can have more of an impact. We’ve invested some of the money we made from crypto into the fund, and it feels amazing to be able to spend that money on causes we care about.

    
    Speaking of crypto, I also can’t overstate how much dumb luck got us to our position today. We got into BTC very early on (my husband around $0.10 per share, me at $50 per share). We were basically just two kids doing a fun weekend dare, but my husband also understood and agreed with the technology behind it. Cryptocurrencies nowadays seem like they’re banking on that FOMO without having any of the technological integrity, and IMO, I heavily advise against investing into anything you don’t fully understand.

Please comment with kindness!

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  Healthy Rich
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• I loved this essay

  Dacy Gillespie
  wrote about reflecting on her relationship with spending money on clothes. So lovely!

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