Feel poor at 300k HHI

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here. Many good comments (and a few nasty assumptions). To be clear, we are not in debt and we more than manage to break even each year. We save and, in addition to our 401ks, have about 150k in mutual funds and savings. Would like to get that to about 200k. We also put about $500/month into a college savings account for our two year old (neither of us had parents who saved for our education, hence the student loans). We usually go to the Delaware beach for a few days in the summer but that is the extent of our vacations.

As for our home, I wish that it was a lower mortgage. We had saved for about 12 years before buying so we could put down 25% (and stay under jumbo loan territory).

And for the person who said we work all the time-that isn't exactly true. The problem is that DH and I have very early work schedules due to the unique nature of our jobs. We have to be out the door by 6 am, before daycares open (and before our kid is awake). On the plus side, we are home by 3 pm and have five hours of uninterrupted family time, which is amazing.

With a mortgage and school loans you are in debt.

If you live in Alexandria, what do you plan on doing for schools when your children get to that age?

WIth four bedrooms and your schedule an a pair could help cut down your large nanny bill.

The only jobs I know with those types of hours are federal jobs and they have flexibility with start times. One of you could leave at your current time and one of you could leave later after day cares have opened up, then the early riser can pick up from daycare. Staggered schedules is how many families make it work. It also works well during the elementary years.

NP here. We had a 300k HHI when we bought our home in FCPS Alexandria. We love our home and our neighbors. Commute very reasonable. Our local elementary school has a diverse population, which keeps our GS score average. We are ok with that. Since we bought our home 5 years ago, our HHI has increased significantly. We considered moving to Mclean or Arlington but decided to stay because we love our neighborhood so much. We are going to pay off our house and save like crazy for retirement.

[Anonymous]

Anonymous wrote:

Anonymous wrote:People always conveniently forget to include their car payments on threads like this. ...usually because they get torched for being stupid.

What luxury crossover do you drive, OP?

OP here. Two very fancy Honda Accords from mid 2000s fully paid and great condition

Then I truly fail to understand why you'd feel poor. You have not demonstrated any significant expenditures that would keep you from saving for retirement/college, paying your bills, and living in a nice neighborhood. Maybe you're confused about the definition of "poor." If that's the case, it's not a budget problem.

[Anonymous]

Anonymous wrote:OP here. Many good comments (and a few nasty assumptions). To be clear, we are not in debt and we more than manage to break even each year. We save and, in addition to our 401ks, have about 150k in mutual funds and savings. Would like to get that to about 200k. We also put about $500/month into a college savings account for our two year old (neither of us had parents who saved for our education, hence the student loans). We usually go to the Delaware beach for a few days in the summer but that is the extent of our vacations.

As for our home, I wish that it was a lower mortgage. We had saved for about 12 years before buying so we could put down 25% (and stay under jumbo loan territory).

And for the person who said we work all the time-that isn't exactly true. The problem is that DH and I have very early work schedules due to the unique nature of our jobs. We have to be out the door by 6 am, before daycares open (and before our kid is awake). On the plus side, we are home by 3 pm and have five hours of uninterrupted family time, which is amazing.

How do you have more than $150k in savings and feel poor? What would it take for you to not feel poor?

I'm not envious or anything. Just confused.

[Anonymous]

Anonymous wrote:I have friends in DMV who are multi-millionaires and I have a few friends who are nearly billionaires (though not in DMV).

I do not envy them because I never had the drive that they had to be very successful. I am very laid back and very happy in the life that we have carved for ourselves. I am middle class in DMV and I think that is great! Much more than anything I had thought I would achieve with my "I must nap in the afternoons" lifestyle.

I have found my tribe.

[Anonymous]

How old are you, OP?

You should live a little. Go on a few vacations. No sympathy here. Sorry.

When we were 30, we had a HHI of about 300. We now have a $1 million and we are late 30's. We traveled when earned 300k.

[Anonymous]

Anonymous wrote:How old are you, OP?

You should live a little. Go on a few vacations. No sympathy here. Sorry.

When we were 30, we had a HHI of about 300. We now have a $1 million and we are late 30's. We traveled when earned 300k.

It's likely OP income has plateaued and she is not looking at her income hitting $1M in a decade (same with us, as Feds we know that peak and switching careers won't push us to that level unless we start our own business or something).

It's fine to throw away money for fun when you are expecting you salary to triple; very different if your future is now.

[Anonymous]

Maybe explore the nanny share route. There are ways to cut costs. In fact, the more well of people that I know are always looking for ways to cut costs. Also, when was the last time you refinanced? Maybe get that mortgage down a little bit. Btw, how do you have a 3750 monthly payment on a mortgage below jumbo level?

[Anonymous]

Anonymous wrote:How old are you, OP?

You should live a little. Go on a few vacations. No sympathy here. Sorry.

When we were 30, we had a HHI of about 300. We now have a $1 million and we are late 30's. We traveled when earned 300k.

OP here. We both are 35. Hhi will not go up much. I am a public health doc and my husband is a lawyer-quit biglaw as a senior associate because our lives were terrible. Now he has gov job and we get to see each other (and enjoy it). Our incomes may increase another 50k or so but that is it.

[Anonymous]

Anonymous wrote:

Anonymous wrote:How old are you, OP?

You should live a little. Go on a few vacations. No sympathy here. Sorry.

When we were 30, we had a HHI of about 300. We now have a $1 million and we are late 30's. We traveled when earned 300k.

OP here. We both are 35. Hhi will not go up much. I am a public health doc and my husband is a lawyer-quit biglaw as a senior associate because our lives were terrible. Now he has gov job and we get to see each other (and enjoy it). Our incomes may increase another 50k or so but that is it.

THAT IS STILL A LOT OF MONEY!

Seriously. You guys have a great life. Go enjoy it. Quit worrying about your neighbors' renovations.

[Anonymous]

With every response, OP seems more and more ridiculous. Get a grip, hon.

[Anonymous]

Anonymous wrote:

Anonymous wrote:How old are you, OP?

You should live a little. Go on a few vacations. No sympathy here. Sorry.

When we were 30, we had a HHI of about 300. We now have a $1 million and we are late 30's. We traveled when earned 300k.

OP here. We both are 35. Hhi will not go up much. I am a public health doc and my husband is a lawyer-quit biglaw as a senior associate because our lives were terrible. Now he has gov job and we get to see each other (and enjoy it). Our incomes may increase another 50k or so but that is it.

PP here. DH is also a physician, a surgeon. We know a lot of physician/lawyer couples. None of them are poor. Everyone has different priorities. Depending on specialization, their incomes vary but everyone lives a decent life. We hang out often with a couple who probably earns less than you do. DH is a primary care and wife works part time as a lawyer. They don't live luxuriously but they spend lots of time with their children. They seem really happy.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here. Many good comments (and a few nasty assumptions). To be clear, we are not in debt and we more than manage to break even each year. We save and, in addition to our 401ks, have about 150k in mutual funds and savings. Would like to get that to about 200k. We also put about $500/month into a college savings account for our two year old (neither of us had parents who saved for our education, hence the student loans). We usually go to the Delaware beach for a few days in the summer but that is the extent of our vacations.

As for our home, I wish that it was a lower mortgage. We had saved for about 12 years before buying so we could put down 25% (and stay under jumbo loan territory).

And for the person who said we work all the time-that isn't exactly true. The problem is that DH and I have very early work schedules due to the unique nature of our jobs. We have to be out the door by 6 am, before daycares open (and before our kid is awake). On the plus side, we are home by 3 pm and have five hours of uninterrupted family time, which is amazing.

How do you have more than $150k in savings and feel poor? What would it take for you to not feel poor?

I'm not envious or anything. Just confused.

You have $150k in savings, get to be home by 3pm, make 300k/yr AND you claim to feel "poor"....???
You should know better than to say that!
I think you just want to boast.

[Anonymous]

K. Now I'm thinking op is messing with us. Explain how 3750 is a monthly payment on a mortgage less than $417k (jumbo). Maybe a 15 year? And she put down 25%, making total value of the house not more than about $550k. Where in north arlington can you get a house for $550k, unless it was years ago. In which case she's almost done paying off that 15 yr mortgage.

[Anonymous]

Yup, op is trolling us with a big ol' humble brag.

[Anonymous]

Anonymous wrote:

Anonymous wrote:How old are you, OP?

You should live a little. Go on a few vacations. No sympathy here. Sorry.

When we were 30, we had a HHI of about 300. We now have a $1 million and we are late 30's. We traveled when earned 300k.

OP here. We both are 35. Hhi will not go up much. I am a public health doc and my husband is a lawyer-quit biglaw as a senior associate because our lives were terrible. Now he has gov job and we get to see each other (and enjoy it). Our incomes may increase another 50k or so but that is it.

So you both purposely decided to choose low paying jobs in medicine and law. You could have gone into a higher paid medical specialty and your DH walked away from big law. You made these choices. You should live with them.