Income for fancy SAHM
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
|
The other thread sparked my curiosity. What income does a husband need to bring in if he wants the following life style for his wife as a sahm:
- mortgage on a 1.3 mil house in a close-in suburb - wife wears expensive clothes - high maintenance: expensive highlights, facials mani pedis, botox - 2 nice cars - kids in private school - nanny |
Anonymous
| I assume you're also including healthy savings, on track for retirement, good 529/college saving plans, right? |
Anonymous
Op here. Definitely. |
Anonymous
| I think net worth is as or more important for this question. |
Anonymous
| Expensive clothes can mean anything. One $300 purse used for ten years or a new Birkin each year. Traveling to Paris and Italy once a year to get new clothes, or buying things at full price at Bloomingdales. |
Anonymous
|
The house is on the low end so that's a plus. Is the nanny full time or part time if the kids are in school all day?
My guess is that you need about $750k minimum for that: PITI - $60k 2 schools - $100k Nanny - $40k car payments - $25k travel - $25k other life - $150k Total - $400k after tax |
Anonymous
| A $1.3m house close in is not going to be fancy. At all. |
Anonymous
I have this life. 1.3 m house is not that fancy. It’s a normal house, not a mansion. I don’t wear expensive clothes but I do a big shop twice a year and drop 2 to 3 k each time. But nothing branded. Have all the other things listed. We started that at a HHI of ~700k and now have a HHI of 1m |
Anonymous
|
I have 2 kids in fancy DC privates and live in this world (although we are the poors---two feds).
I'd say an "entry level" house for the woman you describe is $2 million in the early 30s. $3-5llion by age 40. I live in a 1.3 million dollar home at age 50 and those women would never live in my home. |
Anonymous
You clearly live way under your means. You could have that entire lifestyle at $500K--maybe minus the nanny. I know because I do. Add in the nanny at you could have it for $600k. No need for a million. I'm sure you save several hundred thousand per year in addition to 401Ks. So your reply (as a super saver) is really not relevant to OP. |
Anonymous
| We have close to this lifestyle for way less HHI, but we have a large net worth and don’t need to save as much yearly income. |
Anonymous
$1.3m is a teardown in inner McLean now. |
Anonymous
| Private school is the killer here. |
Anonymous
This. OP, any inherited wealth? One of my colleagues - a lowly fed - has this lifestyle with three kids in expensive private [(3 kids x 12 yrs) x $50k/yr] and a very nice home. But Dad was worth a lot of money so colleague doesn’t have to make much. |
Anonymous
| You should have just asked how stupid you have to be to throw that much money away on a private school instead of getting a better house or cars lol |