Is 250k a bad salary now for a man?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is a wonderful salary. I could make this HHI work and meet all the goals for our family - SFH, foreign vacations, socializing, cars, tutors, ECs, cleaning lady, 2 kids college.

- SAHM

Where do you live and how much is your mortgage payment? Here's a rough estimate of cost breakdowns for a family of two:

$250,000 Gross Income
401(k) Deferral– $24,500
All Taxes (~23.7%)– $59,170
Net Take-Home Pay~$166,330
Annual Mortgage Payment (Assume a $600k mortgage @ 6.25%) - $44,328
Annual College Savings (2 kids)– $30,000

Remaining Cash Flow~$92,002/yr (this would have to cover cars, food, ECs, cleaning lady, vacations, utilities, cell phones, insurance, cable, entertainment, eating out). I couldn't do it, but admittedly, my kids are in expensive sports, and I like some creature comforts, like getting my hair professionally colored and cut, and going to pilates.

Don’t stop there! I’d LOVE to see where your 92k after housing and savings goes. Are you getting your hair colored with actual gold?

Well, we go through this exercise pretty regularly, and we are over $92k on the extra expenses, and they include:
- Vacations are typically $10k - even national park vacations cost that much between flights, rental car, and hotels. We like to take 2 vacations per year, so about $20k in vacation costs.
- We have a kid with a learning disability who needs a tutor and therapies.
- We have another kid who does an expensive sport.
- We typically meet our $6k insurance deductible between the athlete, the kid who needs therapy, and my spouse and me, just staying on top of our health.
- Braces.
- We have life and and umbreall insurance policies.
- Hobbies - spouse is a golfer.
- Plane tickets for my in-laws to visit us a couple of times a year.
- I probably spend $3000 on vanity things like hair, skin care (IPL or laser treatments), a massage twice a year - nothing extravagant, but it adds up
- The kids have hobbies, birthday parties, and summer camps.

So the actual *numbers* you included add up to 29K. Then you just listed a bunch of expenses- clearly you have no clue how much you actually spend.

I know exactly how much we spend, but I'm not posting it online. It's more than $92k, and we're barely living a UMC lifestyle.

Sorry, most people don’t have the secret hookers and blow line items.

Sorry you’re bad at math, but we’re not all morons

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is a wonderful salary. I could make this HHI work and meet all the goals for our family - SFH, foreign vacations, socializing, cars, tutors, ECs, cleaning lady, 2 kids college.

- SAHM

Where do you live and how much is your mortgage payment? Here's a rough estimate of cost breakdowns for a family of two:

$250,000 Gross Income
401(k) Deferral– $24,500
All Taxes (~23.7%)– $59,170
Net Take-Home Pay~$166,330
Annual Mortgage Payment (Assume a $600k mortgage @ 6.25%) - $44,328
Annual College Savings (2 kids)– $30,000

Remaining Cash Flow~$92,002/yr (this would have to cover cars, food, ECs, cleaning lady, vacations, utilities, cell phones, insurance, cable, entertainment, eating out). I couldn't do it, but admittedly, my kids are in expensive sports, and I like some creature comforts, like getting my hair professionally colored and cut, and going to pilates.

92k for cars, food, ECs, cleaning lady, vacations, and all your other bills doesn't actually sound that hard to me, but I don't go to pilates so maybe that's it.

$15k/yr college savings sounds excessive to me. We do 8-10k per kid and are in great shape right now with kids in late elementary. But also we aren't over-investing in 529s. We will stop contributing once they each hit 150k. We have other savings sprinkled over a variety of vehicles, including treasury bonds, plus we expect to be able to cash flow some college expenses because our house will be paid off long before our kids hit college.

We bought a townhome prior to having kids and paid the mortgage down aggressively so when we sold it after 10 years (at 35 and 32, with two young kids) we had no mortgage. We took the proceeds and put them toward our house. Currently worth 1.2 million, we only have 300k left on the mortgage, currently pay 35k/yr.

So on your budget, assuming other numbers were accurate, we have more like 120k after taxes, retirement, college savings, and mortgage. Maybe I can go to pilates after all!!

I made a point above about how $250k is actually a fine salary for those of us who have been in the housing market for a while. But if you're a young couple saving for a down payment and getting a mortgage at current rates, it's tough.

Also, I don't think $150k per kid is going to cut it for college costs, even for in-state tuition, but I hope I am wrong. We are tarketing $350k per kid before we stop contributions. We both went to expensive schools, so we feel like we should pay it forward.

Wowza, sounds like your kids are pretty dumb. I guess the apple doesn’t fall far from the tree…

I mean, we are targeting the cost of our alma mater, which doesn't give any merit aid, so your ad hominem is the dumb thing here.

The fact that dumb parents send their dumb kids to their alma mater only reinforces my point, actually.

LOL. Okay. Everyone who went to an Ivy or SLAC is dumb. You got me there.

Well you seem to think that every random SLAC is equivalent to an Ivy, so…

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is a wonderful salary. I could make this HHI work and meet all the goals for our family - SFH, foreign vacations, socializing, cars, tutors, ECs, cleaning lady, 2 kids college.

- SAHM

Where do you live and how much is your mortgage payment? Here's a rough estimate of cost breakdowns for a family of two:

$250,000 Gross Income
401(k) Deferral– $24,500
All Taxes (~23.7%)– $59,170
Net Take-Home Pay~$166,330
Annual Mortgage Payment (Assume a $600k mortgage @ 6.25%) - $44,328
Annual College Savings (2 kids)– $30,000

Remaining Cash Flow~$92,002/yr (this would have to cover cars, food, ECs, cleaning lady, vacations, utilities, cell phones, insurance, cable, entertainment, eating out). I couldn't do it, but admittedly, my kids are in expensive sports, and I like some creature comforts, like getting my hair professionally colored and cut, and going to pilates.

Don’t stop there! I’d LOVE to see where your 92k after housing and savings goes. Are you getting your hair colored with actual gold?

Well, we go through this exercise pretty regularly, and we are over $92k on the extra expenses, and they include:
- Vacations are typically $10k - even national park vacations cost that much between flights, rental car, and hotels. We like to take 2 vacations per year, so about $20k in vacation costs.
- We have a kid with a learning disability who needs a tutor and therapies.
- We have another kid who does an expensive sport.
- We typically meet our $6k insurance deductible between the athlete, the kid who needs therapy, and my spouse and me, just staying on top of our health.
- Braces.
- We have life and and umbreall insurance policies.
- Hobbies - spouse is a golfer.
- Plane tickets for my in-laws to visit us a couple of times a year.
- I probably spend $3000 on vanity things like hair, skin care (IPL or laser treatments), a massage twice a year - nothing extravagant, but it adds up
- The kids have hobbies, birthday parties, and summer camps.

You spend 10k on a national park vacation? We've done several of these and the most we've ever spent was 5k when we did the Grand Canyon and that's largely because we tacked on a couple days at a resort in Scottsdale before flying home. I don't even understand what you're spending that money on? I mean granted, usually we can cover one or two flights for a vacation with points, but I feel like that's standard for UMC people -- all you have to do is get a points card and charge your groceries and other expenses to it. A rental car is maybe $500 for the week? Hotels around $250/night (we don't do super high end accommodations for a national park vacation). Then food. How are you hitting 10k?

What are you doing to "stay on top of your health" that requires you to spend $6k on non-covered activities? Is your health insurance crappy? I see three different specialists and do physical therapy and rarely spend more than a grand on healthcare because insurance covers most things.

I get a massage once a month, nice hair cuts three times a year, and buy good quality skin care. IPL and laser absolutely sounds extravagant and, I'm betting, doesn't make you look any better. Drink more water and wear hats when you're outside.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is a wonderful salary. I could make this HHI work and meet all the goals for our family - SFH, foreign vacations, socializing, cars, tutors, ECs, cleaning lady, 2 kids college.

- SAHM

Where do you live and how much is your mortgage payment? Here's a rough estimate of cost breakdowns for a family of two:

$250,000 Gross Income
401(k) Deferral– $24,500
All Taxes (~23.7%)– $59,170
Net Take-Home Pay~$166,330
Annual Mortgage Payment (Assume a $600k mortgage @ 6.25%) - $44,328
Annual College Savings (2 kids)– $30,000

Remaining Cash Flow~$92,002/yr (this would have to cover cars, food, ECs, cleaning lady, vacations, utilities, cell phones, insurance, cable, entertainment, eating out). I couldn't do it, but admittedly, my kids are in expensive sports, and I like some creature comforts, like getting my hair professionally colored and cut, and going to pilates.

92k for cars, food, ECs, cleaning lady, vacations, and all your other bills doesn't actually sound that hard to me, but I don't go to pilates so maybe that's it.

$15k/yr college savings sounds excessive to me. We do 8-10k per kid and are in great shape right now with kids in late elementary. But also we aren't over-investing in 529s. We will stop contributing once they each hit 150k. We have other savings sprinkled over a variety of vehicles, including treasury bonds, plus we expect to be able to cash flow some college expenses because our house will be paid off long before our kids hit college.

We bought a townhome prior to having kids and paid the mortgage down aggressively so when we sold it after 10 years (at 35 and 32, with two young kids) we had no mortgage. We took the proceeds and put them toward our house. Currently worth 1.2 million, we only have 300k left on the mortgage, currently pay 35k/yr.

So on your budget, assuming other numbers were accurate, we have more like 120k after taxes, retirement, college savings, and mortgage. Maybe I can go to pilates after all!!

I made a point above about how $250k is actually a fine salary for those of us who have been in the housing market for a while. But if you're a young couple saving for a down payment and getting a mortgage at current rates, it's tough.

Also, I don't think $150k per kid is going to cut it for college costs, even for in-state tuition, but I hope I am wrong. We are tarketing $350k per kid before we stop contributions. We both went to expensive schools, so we feel like we should pay it forward.

Wowza, sounds like your kids are pretty dumb. I guess the apple doesn’t fall far from the tree…

I mean, we are targeting the cost of our alma mater, which doesn't give any merit aid, so your ad hominem is the dumb thing here.

The fact that dumb parents send their dumb kids to their alma mater only reinforces my point, actually.

LOL. Okay. Everyone who went to an Ivy or SLAC is dumb. You got me there.

Most people I know went to Ivies or SLACs like Williams or Middlebury. None of them would superfund a 529 the way you have because it's a dumb allocation of money. You are not required to pay for college exclusively out of a 529. There are tax benefits for funding one, so it makes sense to put a substantial portion of college savings in there, but since you can't know exactly how much college will cost for your specific kid, it makes sense to spread that money around to other saving/investing vehicles and also consider cash flowing some college costs for flexibility.

Putting 700k in 529s sounds idiotic to me, even if your intention is to send your kid to an Ivy or top SLAC. It's just a weird way to lock up a lot of money for a situation that is actually pretty fluid.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is a wonderful salary. I could make this HHI work and meet all the goals for our family - SFH, foreign vacations, socializing, cars, tutors, ECs, cleaning lady, 2 kids college.

- SAHM

Where do you live and how much is your mortgage payment? Here's a rough estimate of cost breakdowns for a family of two:

$250,000 Gross Income
401(k) Deferral– $24,500
All Taxes (~23.7%)– $59,170
Net Take-Home Pay~$166,330
Annual Mortgage Payment (Assume a $600k mortgage @ 6.25%) - $44,328
Annual College Savings (2 kids)– $30,000

Remaining Cash Flow~$92,002/yr (this would have to cover cars, food, ECs, cleaning lady, vacations, utilities, cell phones, insurance, cable, entertainment, eating out). I couldn't do it, but admittedly, my kids are in expensive sports, and I like some creature comforts, like getting my hair professionally colored and cut, and going to pilates.

Don’t stop there! I’d LOVE to see where your 92k after housing and savings goes. Are you getting your hair colored with actual gold?

Well, we go through this exercise pretty regularly, and we are over $92k on the extra expenses, and they include:
- Vacations are typically $10k - even national park vacations cost that much between flights, rental car, and hotels. We like to take 2 vacations per year, so about $20k in vacation costs.
- We have a kid with a learning disability who needs a tutor and therapies.
- We have another kid who does an expensive sport.
- We typically meet our $6k insurance deductible between the athlete, the kid who needs therapy, and my spouse and me, just staying on top of our health.
- Braces.
- We have life and and umbreall insurance policies.
- Hobbies - spouse is a golfer.
- Plane tickets for my in-laws to visit us a couple of times a year.
- I probably spend $3000 on vanity things like hair, skin care (IPL or laser treatments), a massage twice a year - nothing extravagant, but it adds up
- The kids have hobbies, birthday parties, and summer camps.

You spend 10k on a national park vacation? We've done several of these and the most we've ever spent was 5k when we did the Grand Canyon and that's largely because we tacked on a couple days at a resort in Scottsdale before flying home. I don't even understand what you're spending that money on? I mean granted, usually we can cover one or two flights for a vacation with points, but I feel like that's standard for UMC people -- all you have to do is get a points card and charge your groceries and other expenses to it. A rental car is maybe $500 for the week? Hotels around $250/night (we don't do super high end accommodations for a national park vacation). Then food. How are you hitting 10k?

What are you doing to "stay on top of your health" that requires you to spend $6k on non-covered activities? Is your health insurance crappy? I see three different specialists and do physical therapy and rarely spend more than a grand on healthcare because insurance covers most things.

I get a massage once a month, nice hair cuts three times a year, and buy good quality skin care. IPL and laser absolutely sounds extravagant and, I'm betting, doesn't make you look any better. Drink more water and wear hats when you're outside.

We choose to make more money instead. If other people want to use a bottle of Clairol to cover their grays, fine. The laser treatments for skin care are actually awesome. I wouldn't want to live on $250k house hold income, but that's just me. We also save a lot outside of retirement accounts and support one set of parents, which we also couldn't do on a $250k HHI. Sounds like you're doing fine on it. OP needs to assess how she wants to live and decide for herself.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is a wonderful salary. I could make this HHI work and meet all the goals for our family - SFH, foreign vacations, socializing, cars, tutors, ECs, cleaning lady, 2 kids college.

- SAHM

Where do you live and how much is your mortgage payment? Here's a rough estimate of cost breakdowns for a family of two:

$250,000 Gross Income
401(k) Deferral– $24,500
All Taxes (~23.7%)– $59,170
Net Take-Home Pay~$166,330
Annual Mortgage Payment (Assume a $600k mortgage @ 6.25%) - $44,328
Annual College Savings (2 kids)– $30,000

Remaining Cash Flow~$92,002/yr (this would have to cover cars, food, ECs, cleaning lady, vacations, utilities, cell phones, insurance, cable, entertainment, eating out). I couldn't do it, but admittedly, my kids are in expensive sports, and I like some creature comforts, like getting my hair professionally colored and cut, and going to pilates.

Don’t stop there! I’d LOVE to see where your 92k after housing and savings goes. Are you getting your hair colored with actual gold?

Well, we go through this exercise pretty regularly, and we are over $92k on the extra expenses, and they include:
- Vacations are typically $10k - even national park vacations cost that much between flights, rental car, and hotels. We like to take 2 vacations per year, so about $20k in vacation costs.
- We have a kid with a learning disability who needs a tutor and therapies.
- We have another kid who does an expensive sport.
- We typically meet our $6k insurance deductible between the athlete, the kid who needs therapy, and my spouse and me, just staying on top of our health.
- Braces.
- We have life and and umbreall insurance policies.
- Hobbies - spouse is a golfer.
- Plane tickets for my in-laws to visit us a couple of times a year.
- I probably spend $3000 on vanity things like hair, skin care (IPL or laser treatments), a massage twice a year - nothing extravagant, but it adds up
- The kids have hobbies, birthday parties, and summer camps.

You spend 10k on a national park vacation? We've done several of these and the most we've ever spent was 5k when we did the Grand Canyon and that's largely because we tacked on a couple days at a resort in Scottsdale before flying home. I don't even understand what you're spending that money on? I mean granted, usually we can cover one or two flights for a vacation with points, but I feel like that's standard for UMC people -- all you have to do is get a points card and charge your groceries and other expenses to it. A rental car is maybe $500 for the week? Hotels around $250/night (we don't do super high end accommodations for a national park vacation). Then food. How are you hitting 10k?

What are you doing to "stay on top of your health" that requires you to spend $6k on non-covered activities? Is your health insurance crappy? I see three different specialists and do physical therapy and rarely spend more than a grand on healthcare because insurance covers most things.

I get a massage once a month, nice hair cuts three times a year, and buy good quality skin care. IPL and laser absolutely sounds extravagant and, I'm betting, doesn't make you look any better. Drink more water and wear hats when you're outside.

We choose to make more money instead. If other people want to use a bottle of Clairol to cover their grays, fine. The laser treatments for skin care are actually awesome. I wouldn't want to live on $250k house hold income, but that's just me. We also save a lot outside of retirement accounts and support one set of parents, which we also couldn't do on a $250k HHI. Sounds like you're doing fine on it. OP needs to assess how she wants to live and decide for herself.

You wouldn’t want to because you’d have to do some math and that would strain your feeble brain. You’re the epitome of “there’s a sucker born every minute”

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is a wonderful salary. I could make this HHI work and meet all the goals for our family - SFH, foreign vacations, socializing, cars, tutors, ECs, cleaning lady, 2 kids college.

- SAHM

Where do you live and how much is your mortgage payment? Here's a rough estimate of cost breakdowns for a family of two:

$250,000 Gross Income
401(k) Deferral– $24,500
All Taxes (~23.7%)– $59,170
Net Take-Home Pay~$166,330
Annual Mortgage Payment (Assume a $600k mortgage @ 6.25%) - $44,328
Annual College Savings (2 kids)– $30,000

Remaining Cash Flow~$92,002/yr (this would have to cover cars, food, ECs, cleaning lady, vacations, utilities, cell phones, insurance, cable, entertainment, eating out). I couldn't do it, but admittedly, my kids are in expensive sports, and I like some creature comforts, like getting my hair professionally colored and cut, and going to pilates.

Don’t stop there! I’d LOVE to see where your 92k after housing and savings goes. Are you getting your hair colored with actual gold?

DP

It’s so easy to spend money. We make more than that and spend 60k for 2 kids in private school 10k per kid for summer camp … I could go on.

PP said her kids do travel sports - depending on the sport that’s easily over 20k, multiply that by number of kids an you can be broke even sending them to public school.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:LOl! if women are making that much then it is ok to expect more otherwise no need to find a loser that can't make her own money and expect you to earn for her.

I dunno if he could keep the house clean and have dinner ready, that would be pretty awesome. If he actually lived up to his end of the bargain and took care of all the household stuff, that would be pretty great.

Exactly. Men who make $120k would never be able to meet the expectations of high standard household maintenance and parenting. Women who make $250k are a very different breed with high standards in everything .
So the low paying meh would rather complain at these women being “gold diggers” or just marry women who make under $120k.

Huh. I’ve never equated high standards with money. I have extremely high standards… for behavior and respect, in particular.

I know wealthier people who can’t meet my standards.

That’s not my experience. People who make that much money also have higher standards for everything else in life. Eg to and self care routine, vacations types (quality site seeing vs cheap cruises or gastro tours), cleaner houses, kids upbringing. In most cases higher earning capacity is related to higher organizational skills. I dated a bunch of men who made much less than me and I was also bored around them. Very limited interests, life experience etc

I’m sorry you have such a limited worldview.

I decided to go into a service profession because I believe the true value in a person’s work is what they can give back to community. I could have waltzed into a higher paying job, but that wouldn’t have aligned with my values. I’m not motivated by money. I fail to see how a “quality” vacation is any better than a roadtrip down 95. The destination doesn’t make the trip one of “quality,” rather, the people around me do that.

And kid upbringing? Money doesn’t make you a better parent than others. Perhaps you can outsource more? And if so, how is that better parenting when it’s often something you can do yourself?

But perhaps you’d be bored around me. We don’t sound like we’d have similar interests.

Sorry not sorry that I prefer to see world cultural treasures and the nature and geological wonders. I doubt you spend your time studying Rafael painting technique vs Leonardo. I kinda enjoy being able just to hop on a plane to see exhibits that I always wanted to see, or to see a show. Of course when you invest the money in your kids they grow more social, less plugged into their screens, want to invent and achieve something, speak multiple languages. My 19 yo speaks 3 languages at native level, won in their college tech challenge (installing a portable communications system to address college wifi system gaps), and just got an internship at a tech company. That is all thanks to tutors they had, and excellent school they went to. That started from me buying a house in that neighborhood and earning good money to begin with.

And none of that… none of that… makes you a better parent than others. You may be a good parent who has the financial resources to make a path easier for your child. Okay. What about the parent (like me) who got their child on an equally successful path, but without the resources?

And none of that makes you superior. So you know the difference between two painting techniques. Do you know the needs at your local food pantry?

But I suppose the real issue is that you come across as NEEDING to feel better than others. That must be exhausting, and I wonder if you’d have a more complete world view if you let that go.

What are you taking about ? Money absolutely allow to be a better and more involved parent to your kids. Money buy you time to read to your kids in the evening, take them to sports, cook healthy meals, talk to their teachers, travel with kids and teach them languages.
If you go to the most impoverished neighborhoods parents don’t have time for their kids because they work low wages 24/7.

You are so, so woefully out of touch with the real world. Shockingly so. Please tell me you’re joking.

Money doesn’t buy me time to read to my children. That costs me nothing at all. And what makes you think you need to be wealthy to talk to teachers? To teach your children languages?

I’ll say it: I am a teacher. I’ve taught the children of the wealthy and the children of the less fortunate. I’ve met wealthy parents who ignore their children, letting others and social media do the work of parenting for them. I’ve met less fortunate parents who are some of the strongest, most balanced role models one can have.

So let’s stop with your farce here. Money doesn’t make you a better parent. All it does is make you a parent with money. That’s not as impressive as you want it to be.

If you’re busy struggling to pay the rent you generally don’t have the bandwidth to read about child development, feel calm when your kid misbehaves, eat and sleep in a way that supports your and your family’s wellbeing, etc. Money gives you more choices. Everyone is dealing with myriad aspects of their current environment, environment they were brought up in, and physiological/psychological environments. Money makes everything easier. To say it doesn’t is dishonest.

DP. Wait, are we still talking about people who make $250k?

+1

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is a wonderful salary. I could make this HHI work and meet all the goals for our family - SFH, foreign vacations, socializing, cars, tutors, ECs, cleaning lady, 2 kids college.

- SAHM

Where do you live and how much is your mortgage payment? Here's a rough estimate of cost breakdowns for a family of two:

$250,000 Gross Income
401(k) Deferral– $24,500
All Taxes (~23.7%)– $59,170
Net Take-Home Pay~$166,330
Annual Mortgage Payment (Assume a $600k mortgage @ 6.25%) - $44,328
Annual College Savings (2 kids)– $30,000

Remaining Cash Flow~$92,002/yr (this would have to cover cars, food, ECs, cleaning lady, vacations, utilities, cell phones, insurance, cable, entertainment, eating out). I couldn't do it, but admittedly, my kids are in expensive sports, and I like some creature comforts, like getting my hair professionally colored and cut, and going to pilates.

Don’t stop there! I’d LOVE to see where your 92k after housing and savings goes. Are you getting your hair colored with actual gold?

DP

It’s so easy to spend money. We make more than that and spend 60k for 2 kids in private school 10k per kid for summer camp … I could go on.

PP said her kids do travel sports - depending on the sport that’s easily over 20k, multiply that by number of kids an you can be broke even sending them to public school.

I have three kids in travel sports and we don’t spend that much.

I agree, it’s incredibly easy to spend money, but it’s also incredibly unnecessary to *waste* money the way some of you do…

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is a wonderful salary. I could make this HHI work and meet all the goals for our family - SFH, foreign vacations, socializing, cars, tutors, ECs, cleaning lady, 2 kids college.

- SAHM

Where do you live and how much is your mortgage payment? Here's a rough estimate of cost breakdowns for a family of two:

$250,000 Gross Income
401(k) Deferral– $24,500
All Taxes (~23.7%)– $59,170
Net Take-Home Pay~$166,330
Annual Mortgage Payment (Assume a $600k mortgage @ 6.25%) - $44,328
Annual College Savings (2 kids)– $30,000

Remaining Cash Flow~$92,002/yr (this would have to cover cars, food, ECs, cleaning lady, vacations, utilities, cell phones, insurance, cable, entertainment, eating out). I couldn't do it, but admittedly, my kids are in expensive sports, and I like some creature comforts, like getting my hair professionally colored and cut, and going to pilates.

Don’t stop there! I’d LOVE to see where your 92k after housing and savings goes. Are you getting your hair colored with actual gold?

DP

It’s so easy to spend money. We make more than that and spend 60k for 2 kids in private school 10k per kid for summer camp … I could go on.

PP said her kids do travel sports - depending on the sport that’s easily over 20k, multiply that by number of kids an you can be broke even sending them to public school.

I have three kids in travel sports and we don’t spend that much.

I agree, it’s incredibly easy to spend money, but it’s also incredibly unnecessary to *waste* money the way some of you do…

But who are you to decide what's a good versus wasteful use of someone else's funds? The question of how much income is enough is highly personal.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is a wonderful salary. I could make this HHI work and meet all the goals for our family - SFH, foreign vacations, socializing, cars, tutors, ECs, cleaning lady, 2 kids college.

- SAHM

Where do you live and how much is your mortgage payment? Here's a rough estimate of cost breakdowns for a family of two:

$250,000 Gross Income
401(k) Deferral– $24,500
All Taxes (~23.7%)– $59,170
Net Take-Home Pay~$166,330
Annual Mortgage Payment (Assume a $600k mortgage @ 6.25%) - $44,328
Annual College Savings (2 kids)– $30,000

Remaining Cash Flow~$92,002/yr (this would have to cover cars, food, ECs, cleaning lady, vacations, utilities, cell phones, insurance, cable, entertainment, eating out). I couldn't do it, but admittedly, my kids are in expensive sports, and I like some creature comforts, like getting my hair professionally colored and cut, and going to pilates.

Don’t stop there! I’d LOVE to see where your 92k after housing and savings goes. Are you getting your hair colored with actual gold?

DP

It’s so easy to spend money. We make more than that and spend 60k for 2 kids in private school 10k per kid for summer camp … I could go on.

PP said her kids do travel sports - depending on the sport that’s easily over 20k, multiply that by number of kids an you can be broke even sending them to public school.

I have three kids in travel sports and we don’t spend that much.

I agree, it’s incredibly easy to spend money, but it’s also incredibly unnecessary to *waste* money the way some of you do…

But who are you to decide what's a good versus wasteful use of someone else's funds? The question of how much income is enough is highly personal.

That’s what this entire thread is about, sweetie. Asking people if 250k is “bad” for a man. The answer is objectively no. The fact that some of you *choose* to flush obscene amounts of money down the toilet doesn’t change that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is a wonderful salary. I could make this HHI work and meet all the goals for our family - SFH, foreign vacations, socializing, cars, tutors, ECs, cleaning lady, 2 kids college.

- SAHM

Where do you live and how much is your mortgage payment? Here's a rough estimate of cost breakdowns for a family of two:

$250,000 Gross Income
401(k) Deferral– $24,500
All Taxes (~23.7%)– $59,170
Net Take-Home Pay~$166,330
Annual Mortgage Payment (Assume a $600k mortgage @ 6.25%) - $44,328
Annual College Savings (2 kids)– $30,000

Remaining Cash Flow~$92,002/yr (this would have to cover cars, food, ECs, cleaning lady, vacations, utilities, cell phones, insurance, cable, entertainment, eating out). I couldn't do it, but admittedly, my kids are in expensive sports, and I like some creature comforts, like getting my hair professionally colored and cut, and going to pilates.

92k for cars, food, ECs, cleaning lady, vacations, and all your other bills doesn't actually sound that hard to me, but I don't go to pilates so maybe that's it.

$15k/yr college savings sounds excessive to me. We do 8-10k per kid and are in great shape right now with kids in late elementary. But also we aren't over-investing in 529s. We will stop contributing once they each hit 150k. We have other savings sprinkled over a variety of vehicles, including treasury bonds, plus we expect to be able to cash flow some college expenses because our house will be paid off long before our kids hit college.

We bought a townhome prior to having kids and paid the mortgage down aggressively so when we sold it after 10 years (at 35 and 32, with two young kids) we had no mortgage. We took the proceeds and put them toward our house. Currently worth 1.2 million, we only have 300k left on the mortgage, currently pay 35k/yr.

So on your budget, assuming other numbers were accurate, we have more like 120k after taxes, retirement, college savings, and mortgage. Maybe I can go to pilates after all!!

I made a point above about how $250k is actually a fine salary for those of us who have been in the housing market for a while. But if you're a young couple saving for a down payment and getting a mortgage at current rates, it's tough.

Also, I don't think $150k per kid is going to cut it for college costs, even for in-state tuition, but I hope I am wrong. We are tarketing $350k per kid before we stop contributions. We both went to expensive schools, so we feel like we should pay it forward.

It’s not the end of the world to have your kids go in state, work a bit through college, and graduate with some student loans. That’s what happened with me and I’m saving enough to maybe cover the whole portion of in state, but maybe not. Thinking you need to save 30k/yr for college is wild

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is a wonderful salary. I could make this HHI work and meet all the goals for our family - SFH, foreign vacations, socializing, cars, tutors, ECs, cleaning lady, 2 kids college.

- SAHM

Where do you live and how much is your mortgage payment? Here's a rough estimate of cost breakdowns for a family of two:

$250,000 Gross Income
401(k) Deferral– $24,500
All Taxes (~23.7%)– $59,170
Net Take-Home Pay~$166,330
Annual Mortgage Payment (Assume a $600k mortgage @ 6.25%) - $44,328
Annual College Savings (2 kids)– $30,000

Remaining Cash Flow~$92,002/yr (this would have to cover cars, food, ECs, cleaning lady, vacations, utilities, cell phones, insurance, cable, entertainment, eating out). I couldn't do it, but admittedly, my kids are in expensive sports, and I like some creature comforts, like getting my hair professionally colored and cut, and going to pilates.

Don’t stop there! I’d LOVE to see where your 92k after housing and savings goes. Are you getting your hair colored with actual gold?

DP

It’s so easy to spend money. We make more than that and spend 60k for 2 kids in private school 10k per kid for summer camp … I could go on.

PP said her kids do travel sports - depending on the sport that’s easily over 20k, multiply that by number of kids an you can be broke even sending them to public school.

I have three kids in travel sports and we don’t spend that much.

I agree, it’s incredibly easy to spend money, but it’s also incredibly unnecessary to *waste* money the way some of you do…

But who are you to decide what's a good versus wasteful use of someone else's funds? The question of how much income is enough is highly personal.

That’s what this entire thread is about, sweetie. Asking people if 250k is “bad” for a man. The answer is objectively no. The fact that some of you *choose* to flush obscene amounts of money down the toilet doesn’t change that.

Obviously, she doesn’t view her family’s spending as “flushing obscene amounts of money down the toilet” - that’s all you and your small mind.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is a wonderful salary. I could make this HHI work and meet all the goals for our family - SFH, foreign vacations, socializing, cars, tutors, ECs, cleaning lady, 2 kids college.

- SAHM

Where do you live and how much is your mortgage payment? Here's a rough estimate of cost breakdowns for a family of two:

$250,000 Gross Income
401(k) Deferral– $24,500
All Taxes (~23.7%)– $59,170
Net Take-Home Pay~$166,330
Annual Mortgage Payment (Assume a $600k mortgage @ 6.25%) - $44,328
Annual College Savings (2 kids)– $30,000

Remaining Cash Flow~$92,002/yr (this would have to cover cars, food, ECs, cleaning lady, vacations, utilities, cell phones, insurance, cable, entertainment, eating out). I couldn't do it, but admittedly, my kids are in expensive sports, and I like some creature comforts, like getting my hair professionally colored and cut, and going to pilates.

92k for cars, food, ECs, cleaning lady, vacations, and all your other bills doesn't actually sound that hard to me, but I don't go to pilates so maybe that's it.

$15k/yr college savings sounds excessive to me. We do 8-10k per kid and are in great shape right now with kids in late elementary. But also we aren't over-investing in 529s. We will stop contributing once they each hit 150k. We have other savings sprinkled over a variety of vehicles, including treasury bonds, plus we expect to be able to cash flow some college expenses because our house will be paid off long before our kids hit college.

We bought a townhome prior to having kids and paid the mortgage down aggressively so when we sold it after 10 years (at 35 and 32, with two young kids) we had no mortgage. We took the proceeds and put them toward our house. Currently worth 1.2 million, we only have 300k left on the mortgage, currently pay 35k/yr.

So on your budget, assuming other numbers were accurate, we have more like 120k after taxes, retirement, college savings, and mortgage. Maybe I can go to pilates after all!!

I made a point above about how $250k is actually a fine salary for those of us who have been in the housing market for a while. But if you're a young couple saving for a down payment and getting a mortgage at current rates, it's tough.

Also, I don't think $150k per kid is going to cut it for college costs, even for in-state tuition, but I hope I am wrong. We are tarketing $350k per kid before we stop contributions. We both went to expensive schools, so we feel like we should pay it forward.

It’s not the end of the world to have your kids go in state, work a bit through college, and graduate with some student loans. That’s what happened with me and I’m saving enough to maybe cover the whole portion of in state, but maybe not. Thinking you need to save 30k/yr for college is wild

It’s not the end of the world, but some of us want to give our kids more, certainly those of us whose parents paid for our college want to pay it forward to our kids. It’s how the rich keep getting richer.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:It is a wonderful salary. I could make this HHI work and meet all the goals for our family - SFH, foreign vacations, socializing, cars, tutors, ECs, cleaning lady, 2 kids college.

- SAHM

Where do you live and how much is your mortgage payment? Here's a rough estimate of cost breakdowns for a family of two:

$250,000 Gross Income
401(k) Deferral– $24,500
All Taxes (~23.7%)– $59,170
Net Take-Home Pay~$166,330
Annual Mortgage Payment (Assume a $600k mortgage @ 6.25%) - $44,328
Annual College Savings (2 kids)– $30,000

Remaining Cash Flow~$92,002/yr (this would have to cover cars, food, ECs, cleaning lady, vacations, utilities, cell phones, insurance, cable, entertainment, eating out). I couldn't do it, but admittedly, my kids are in expensive sports, and I like some creature comforts, like getting my hair professionally colored and cut, and going to pilates.

Don’t stop there! I’d LOVE to see where your 92k after housing and savings goes. Are you getting your hair colored with actual gold?

DP

It’s so easy to spend money. We make more than that and spend 60k for 2 kids in private school 10k per kid for summer camp … I could go on.

PP said her kids do travel sports - depending on the sport that’s easily over 20k, multiply that by number of kids an you can be broke even sending them to public school.

I have three kids in travel sports and we don’t spend that much.

I agree, it’s incredibly easy to spend money, but it’s also incredibly unnecessary to *waste* money the way some of you do…

But who are you to decide what's a good versus wasteful use of someone else's funds? The question of how much income is enough is highly personal.

That’s what this entire thread is about, sweetie. Asking people if 250k is “bad” for a man. The answer is objectively no. The fact that some of you *choose* to flush obscene amounts of money down the toilet doesn’t change that.

Obviously, she doesn’t view her family’s spending as “flushing obscene amounts of money down the toilet” - that’s all you and your small mind.

She is objectively incorrect. Sorry.