What’s Your Number?

[Anonymous]

DH asked me what’s the HHI number that will make me feel comfortable that we have what we need. We are on the edge of burnout with work and he is advocating for a slow down to maintain our sanity.

I told him $420k ($60k/person). We are a household of 7 with elder care responsibilities as well as our young children. Some call this the sandwich generation.

What’s your number? How did you figure it out?

[Anonymous]

$300k. We're a household of 4, sandwich gen, etc. But while making $$$ we've kept overhead expenses low and front-loaded college savings. We could handle everything on $225 or so, but I wouldn't feel comfortable under $300.

[Anonymous]

Anonymous wrote:DH asked me what’s the HHI number that will make me feel comfortable that we have what we need. We are on the edge of burnout with work and he is advocating for a slow down to maintain our sanity.

I told him $420k ($60k/person). We are a household of 7 with elder care responsibilities as well as our young children. Some call this the sandwich generation.

What’s your number? How did you figure it out?

What's the split, OP? How much does he earn and how much do you bring in? Are the elders indigent or are they bringing their own cash and resources to the table?

[Anonymous]

If we pulled our kids from private school we could live comfortably on 250k. However yo me that’s a hardship number. I’d never want to live on only that. I don’t like waiting and like nice things when I want them.

[Anonymous]

Feels like we just got there around $750k

[Anonymous]

"Oh my goodness. We are so stressed. We can't possibly survive on less than $420K. The point of this thread is to humblebrag about my high income but to couch it in less obnoxious terms, I'll ask a question: 'DCUM, what is the minimum HHI that you need to feel comfortable?'"

[Anonymous]

OP here. No humblebrag just curious about other’s number. The elders have social security but no pension nor 401k/403b retirement.

[Anonymous]

Anonymous wrote:Feels like we just got there around $750k

+1

[Anonymous]

Income from employment, if that's what you mean, can be a poor guideline unless the employment is very stable. You might find it more helpful to focus on savings and investments exclusive of home equity, since that's a better measure of long-term financial strength. When your financial assets can provide you with an income stream sufficient to cover your present and future expenses, you arguably have "enough", because you're no longer dependent on employment for financial security. Social Security income, when available, can be a component of that income stream, too.

[Anonymous]

$150k but I live in North Carolina. 4 person household

[Anonymous]

$150K probably. Currently $130K, household of 5 all young kids. DMV close in.

[Anonymous]

We never had an income number per se but we did have a net worth number excluding our home. It started at $5M, then rose to $10M. At that level we could retire and be comfortable. If you can live comfortably on $350K, $10M will allow you to do that.

[Anonymous]

$250k for our two adult one teen household. Would be higher but college is now funded thanks to the market run up the past 10 years. It’s not lavish but we are comfortable enough. I’d like to be at $300k but spouse has physical issues and only works part time.

[Anonymous]

We're fine at $200k. We won't be able to do anything extravagant at that number or fully fund the two kids' college. But we wouldn't have to budget except with the largest purchases, especially with a large savings cushion.

[Anonymous]

500k, in 2018 dollars. That's the bar I set back then. This is for 2 people in retirement, kids out of the house.