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High Income Parents

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High Income Parents
Family Finance, high income, parenting
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Blogger Bio

Net worth:
San Antonio, Texas, United States
Life stage:
SIK (Single Income, Kids)
Physician (Doctor)

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Latest Blog Posts

Welcome Financial Samurai Readers! I created this site to help high income earners raise awesome kids. Part of the awesomeness comes from setting your kids up to succeed financially. This site emphasizes teaching your kids to be confident, independent and equipped to handle their money and hopefully entertain you along the way. Part of that requires you to manage your own finances well and there are plenty of articles to help you, ...
Posted: Jul 19 2017 @ 7:05 AM
[Tom: This is a guest post from a reader that wished to remain anonymous.  He/She said that this story made a great impact is his/her life and wanted to share the difficulty one family faced with this personality disorder. The story is a hard one, but also very important. I see the signs of this personality and behavior frequently in my own career field. It usually isn’t as destructive as ...
Posted: Jul 18 2017 @ 5:00 AM
I’ve previously written about my no so magnificient investing mistakes. Well, I haven’t been all bad. There are a few things that have got me to where I am today. Hopefully you will take a minute and remember what you’ve done to get where you are today. If you are earning a high income, you probably did a fair number of things right. Now the trick is making that high income ...
Posted: Jul 14 2017 @ 5:04 AM
I think everyone should have some understanding of their credit score. As we pay off debt, accumulate assets and increase our incomes, our credit scores should improve. If you are already debt free and building a portfolio, then you should take the next step to put your credit to work. As a general rule, I’m not increasing my debt but that doesn’t mean our credit scores don’t have any value. It’s ...
Posted: Jul 13 2017 @ 5:00 AM
Welcome to the inaugural H.I.P. Examination. Actually, we won’t be examining just the hip but rather the H.I.P. (High Income Parent). This is where one parent (me) asks another parent (Physician on FIRE) about his approach to his kids in areas like education, investing, and money in general. Parenting can be hard. Money can be hard. Put both together and we are probably approaching something the consistency of Wurtzite boron nitride. (Yeah, I looked ...
Posted: Jul 11 2017 @ 5:00 AM
In a household, usually someone is a finance nerd and the rest of the people in the home are less enthusiastic about tracking asset allocations and itemizing deductions. In our case, I’m the finance nerd but my wife is happy to listen to me ramble on about mutual funds and credit card rewards. She’s a great woman, why else would I marry her? She’s frugal and good about keeping track of ...
Posted: Jul 08 2017 @ 5:00 AM
As college has become the expected destination after high school, especially for the children of high income earners, colleges tend to get a higher number of applications. With the streamlining of the internet based application process, it is easier than ever to apply to a large number of schools. More students have access to schools they would ignore in the past because college information is so ubiquitous. Schools need a way ...
Posted: Jul 06 2017 @ 5:00 AM
Backdoor Roth IRA Basics Understanding a backdoor Roth IRA is fundamental for the high income parent. Everyone is eligible to contribute to a traditional IRA. Unless your modified adjusted gross income is below $133,000 for a single filer of $196,000 for a couple filing jointly, you can’t contribute directly to a Roth IRA. If your income falls below those levels, then you can stop reading now and just put your $5,500 directly in ...
Posted: Jul 04 2017 @ 5:00 AM
There are so many awesome bloggers and people sharing their lives and ideas around the world. I try to curate the articles and posts others write that would pertain to the target reader here. Parents, high income earners and those that fall in both category will benefit from the articles listed in the HIP Monthly Round Up. I try to find content that is relevant to raising our kids, helping our ...
Posted: Jul 01 2017 @ 5:00 AM
A lot of us like shiny things like precious metals. They’re pretty. They have a nice weight to them. They’re tangible. We can hold them in our hands and see them. Precious metals make pretty jewelry that make our loved ones happy when we give them gifts made out of them. They aren’t so abstract as stocks or bonds. I get it. There are a lot of people that want to sell ...
Posted: Jun 29 2017 @ 5:00 AM


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