Welcome to The Pickup’s Money Journal series, where we (anonymously) snoop on our Tulsa neighbors’ finances. Want to be snooped on yourself? Fill out our Money Journal submission form, or email Matt Carney at matt@thepickup.com. Thanks to our pals at Racket for sharing this format with us.
Job: Artist, writer, landlady, Airbnb owner
Age: 70
Neighborhood: We live just barely north of downtown Tulsa
Education: College graduate, bachelors degree
Estimated annual income: That kind of depends. Years ago we incorporated and became a business, so part of our income goes into the business, and then our business pays us depending on our needs.
Partner's salary: Same thing as above
Dependents: None
Estimated net worth: Maybe about $1,125,000
DEBT
We have no debts.
ASSETS
We own the house we live in and three other homes and then two joint homes with our children. We own two cars. We both have our own retirement accounts, savings accounts, CDs, money market, and investments with a financial planner.
MONTHLY INCOME
We both have Social Security and that brings us around $1,600 a month. We have rental income and Airbnb income at about $4,850. Sales of art, writing, music is probably about $200 a month depending on the month and the year, sometimes much more sometimes much less.
MONTHLY EXPENSES
Our monthly expenses are few. Gas, water, electric, healthcare, gasoline, groceries, repairs, and upkeep, restaurants. We pay utilities on our own home, and two more Airbnbs.
Did your family talk about money growing up?
They didn’t talk about it so much as we just saw it happen. My parents owned their own business and we kids were involved in that. I could see that a woman could male her own money and there was no question that I couldn’t do the same. Both of them were very honest and my dad was very good with numbers. They studied first, practiced second and then third, made a big jump into owning their own business. They also had a couple of rental properties. I think that whatever your parents do it kind of makes you feel comfortable doing the same. You know you have someone who can answer any questions you might have.
I had a strong sense that my parents had my back if I ever did come into any kind of financial need. They did help us with a down payment for our first house which we paid back religiously every month. I do remember having a piggy bank and loving to count money. I got a bank account early when I was working at my parents’ business and learned how to write checks and balance my checkbook. I mostly put money in savings to save up for future big purchases. My parents always encouraged saving. I remember as a little girl going to auctions with my parents and being given a small amount of money to buy what I wished. I think those early experiences helped me to learn how to visit garage sales, secondhand shops, etc. I’m much more of a treasure hunter than a real retail buyer. The first job that I actually made any money at was babysitting and then my brothers and sister and I learned how to grow earthworms and sold them for two cents each to fishermen. We made over $200 that summer. You can do the math… that’s a heck of a lot of worms!