Dual income families, what is your HHI?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:DH: $140K base + $50k = IT consulting
ME: $120K Sales

feeling poor as shit all our money goes into multiple properties rented out that we can't sell right now[/quote

BWAAAHHAAAAAAAAHAAAA. My thoughts exactly!

[Anonymous]

Anonymous wrote:What I wouldn't give to have someone bringing in a 2nd income!

Me: $47K
Rent: $1500/mo
1 child, in school and aftercare: $300/mo
Student loans: $90/mo
Retirement: 5%/mo (employer matches up to that)

No car. No debt (just paid it all off! $15K worth!) About $1000 in savings (contribute $200/mo).

Anything extra I get goes straight to savings.

Supposed to get $700/mo in child support and medical support. He pays about 40% of the time, so I don't count on it, just stick it in savings (I was putting it towards debt) when I do get it.

Oh, I'm 27, no graduate degree (while a MA would be nice, there's just no room for it right now, time or budget-wise).

Wow, we're similar! It's rare that I see anyone on here in the same boat.

Me: 65K
Mortgage/condo fee: $1300/month
Student Loan: $69/month
Daycare: $750/month (used to be $1200!)
Retirement: 10% plus 5% match and another $2500 to Roth IRA
Car is paid off, still paying off massive credit card debt.

Child starts school this year and aftercare is $200/month. Used to split daycare, but he's been laid off for months, so no child support recently. $1000 in savings and contributing $200/month. Used to be 5K a year ago. Will eventually pursue MS, but job has to pay for it.

I'm 29.

[Anonymous]

Me: $750K
DH: $120K

Total $870K

Mortgage $15K
Second Home $2500
Child care $3,500
Retirement $3,500
Automated Savings/ Investments: $3,500
Insurance: $1K
Discretionary expenses (average) $3K
vacation (average) $1K
Discretionary Investment (average) $10-$15K

[Anonymous]

Me: 135K
Spouse: 90k
Mortgage: 1,900
Childcare: 1,400
Retirement: max 401k
College savings: 800

[Anonymous]

Me: 260K
Spouse: 235k
Mortgage: 0
Childcare: 0
Retirement: max 401k and traditional IRAs
College savings: 245K

[Anonymous]

Anonymous wrote:Me: 260K
Spouse: 235k
Mortgage: 0
Childcare: 0
Retirement: max 401k and traditional IRAs
College savings: 245K

u old?

[Anonymous]

Me 90k
DW 200k

Early 30s
1 kid 2400-m day care
Student loans 2500-m
Rent- 3800-m

[Anonymous]

Anonymous wrote:

Anonymous wrote:Me: 260K
Spouse: 235k
Mortgage: 0
Childcare: 0
Retirement: max 401k and traditional IRAs
College savings: 245K

u old?

50 years old

[Anonymous]

No kids, own in NW DC

Me: $70k
DH: $150k

[Anonymous]

Anonymous wrote:

Anonymous wrote:Me: 260K
Spouse: 235k
Mortgage: 0
Childcare: 0
Retirement: max 401k and traditional IRAs
College savings: 245K

u old?

LMFAOOOO this is so funny to me

[Anonymous]

Anonymous wrote:Me: $750K
DH: $120K

Total $870K

Mortgage $15K
Second Home $2500
Child care $3,500
Retirement $3,500
Automated Savings/ Investments: $3,500
Insurance: $1K
Discretionary expenses (average) $3K
vacation (average) $1K
Discretionary Investment (average) $10-$15K

What do you do?!?!?!

[Anonymous]

Anonymous wrote:Me: $750K
DH: $120K

Total $870K

Mortgage $15K
Second Home $2500
Child care $3,500
Retirement $3,500
Automated Savings/ Investments: $3,500
Insurance: $1K
Discretionary expenses (average) $3K
vacation (average) $1K
Discretionary Investment (average) $10-$15K

That's a lot of freaking mortgage. Obviously you can do it and still save at a good clip, but that's a bunch of extra saving ls being foregone so you can keep up with the Joneses. We've got a considerably higher HHI and one third of the house payments.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Gross
Me: 180K (public affairs/lawyer)
DH: 80K (nurse)

We live in No. Arlington. Mortgage is $4500/month. 2 kids under age of 3 in daycare = $2500/month. One car payment = $615/month. Student loans = $550/month. Stopped contributing to 401K after arrival of #2 but will probably resume again. We just spent the last year paying off $20k in outstanding credit card debt. But now DH is going to grad school at $8600/year. Will we ever get ahead? Seems ridiculous to be scraping by making over $260k.

We are both around 40. Late bloomers.

Argh. If you bought during the bubble, you may have the big house payment with not much to show for it (but you were able to refi, I hope, to a new lower rate?). If you didn't buy during the bubble, you probably have an AMAZING house, so you do have that going for you!

You should be proud of yourselves for paying down that CC debt -- that's the killer stuff. Sounds like, other than mortgage, your expenses are ok. The only thing I think I'd change (other than refinancing if you haven't already) is to get a less expensive car. Unless you're seen in it often (I'm not sure, maybe you are), you can get a good car for a lot less than that -- it just won't be a luxury car.

Not able to refi and not able to sell. We bought a fixer-upper and decided to invest the money we made from selling our condo (during the bubble thanfully) to make it liveable. 100% financing and IO loans. We haven't invested in an appraisal but real estate agents we talk to think that we probably could not hope to sell for much more than we bought in for. We are in a great location, but our financing deal sucks. Refinancing appears to involve PMI and only add to our principal without lowering our payment much. Might make sense if we were committed to staying forever, which we are not. It wasn't supposed to be this way. I think a lot of people would sympathize. I'm thinking we should put efforts towards putting more towards our mortgage each month (more austere living) or just wait out the market. Then there is paying for grad school. I'm loathe to add even more debt. What to do? The car is a done deal. I don't think there is much we can do about that. What to do? There is a lot about our house that still needs to be done to make it "amazing".

Jesus Christ ... not that good with financial planning are we? The debt strapped, house poor twenty first century American consumer.

[Anonymous]

Me-$60K
DH-$140K

[Anonymous]

Me 90K base+ commission (have done 240k this year, expect to hit 260k)
Spouse 140k base + commission ( seed year, expect to only make base)

-mortgage: 3500
-vacation home : 800
- car payment 750
-aupair: 2000
- 2 sets of utilitirs: nauseating

We try to live on our base only, but do dip into commission pay whrn needed.

Due to the instability of our jobs, it's feast or famine. We can have a 500k year or a 230k year and live a 300k lifestyle. Considering taking savings and paying off the car and 2nd trust on our primary residence that would free up 1100/mo in cashflow. We do get rental income on vacation home that covers about 1/3 of total expanses on that.

38&40