Income for fancy SAHM

[Anonymous]

We have this (including the private school, nanny, and 1.3m remaining on the mortgage). DH makes around $600k and it is tight. Two kids in private school (assuming you mean a independent school) is around $80k and nanny is around $60k - it is a lot.

[Anonymous]

Anonymous wrote: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

No, education is more important than things. But why would a SAHP whose kids are in school need a nanny?

[Anonymous]

Anonymous wrote:

Anonymous wrote: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

No, education is more important than things. But why would a SAHP whose kids are in school need a nanny?

False

[Anonymous]

Anonymous wrote:Private school is the killer here.

Lots of grandparents pay tuition directly. It’s exempt from the estate tax.

[Anonymous]

Anonymous wrote:

Anonymous wrote: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

No, education is more important than things. But why would a SAHP whose kids are in school need a nanny?

I’m a SAHP and I’d love to have a nanny 2 days a week. If I had three kids I would want one all the time. Plus if the parents want to regularly travel, go out, etc you need childcare.

[Anonymous]

Both women and men such as yourself don’t get it.

People who want this type of lifestyle need to focus on ownership vs wages.
There is only so much you can make when working for someone.

Trying to live an upper class life on an upper middle class income is why so many UMC are frustrated.

Women who desire this life are far better look for men who are business owners.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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

No, education is more important than things. But why would a SAHP whose kids are in school need a nanny?

I’m a SAHP and I’d love to have a nanny 2 days a week. If I had three kids I would want one all the time. Plus if the parents want to regularly travel, go out, etc you need childcare.

Same. I mean, I would love for a nanny to just play with one kid while the other kid vented to me about their day. I think this is basically how it is for those whose lives are more community-oriented and friends and family take care of your kids once in a while while the parent does other things.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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

No, education is more important than things. But why would a SAHP whose kids are in school need a nanny?

I’m a SAHP and I’d love to have a nanny 2 days a week. If I had three kids I would want one all the time. Plus if the parents want to regularly travel, go out, etc you need childcare.

No, you don’t need childcare. You want childcare.

[Anonymous]

DH makes almost 1M. We purchased our bethesda house for 1.3 but it’s likely worth 1.7 now. We have two nice cars fully paid for and I basically buy whatever I want without blinking an eye. But our kids go to public school and we don’t travel much because I have three young children and it’s just too much work.
We do not have a nanny or any other help other than twice a month cleaners (and I do SAH). But to answer your question we are completely comfortable but I think if I added in a full time nanny, expensive vacations and shopping sprees and private school for three kids things would feel tight.

[Anonymous]

Im not in dc but am in western loudoun. My kids attend private school. There are lots of SAHMs or women whrbhibby jobs. I wouldn’t say nice flashy purses and clothes are the style out here. However many women spend a lot of time on equestrian passions and hobby farming. Maintaining horses is extremely expensive. So I’d maintain racing horses however breeding programs for both can end up being a huge money maker. My experience is that W2 income is what keep people busy. Most people are from generational wealth with lower classes very rarely mixing in. There are not too many “working” wealthy that I see. They’re jobs bring in minimal income as compared to their existing investments.

[Anonymous]

This sounds more like a family money situation. Why is the house so cheap?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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

No, education is more important than things. But why would a SAHP whose kids are in school need a nanny?

I’m a SAHP and I’d love to have a nanny 2 days a week. If I had three kids I would want one all the time. Plus if the parents want to regularly travel, go out, etc you need childcare.

No, you don’t need childcare. You want childcare.

She didn’t say need she said she’d love it.

[Anonymous]

Anonymous wrote:DH makes almost 1M. We purchased our bethesda house for 1.3 but it’s likely worth 1.7 now. We have two nice cars fully paid for and I basically buy whatever I want without blinking an eye. But our kids go to public school and we don’t travel much because I have three young children and it’s just too much work.
We do not have a nanny or any other help other than twice a month cleaners (and I do SAH). But to answer your question we are completely comfortable but I think if I added in a full time nanny, expensive vacations and shopping sprees and private school for three kids things would feel tight.

I am conservative with finances but am struggling to understand how this would feel tight on a $1M salary.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote: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

No, education is more important than things. But why would a SAHP whose kids are in school need a nanny?

I’m a SAHP and I’d love to have a nanny 2 days a week. If I had three kids I would want one all the time. Plus if the parents want to regularly travel, go out, etc you need childcare.

Same. I mean, I would love for a nanny to just play with one kid while the other kid vented to me about their day. I think this is basically how it is for those whose lives are more community-oriented and friends and family take care of your kids once in a while while the parent does other things.

What you're describing is a babysitter. Way back in the 90s people hired local teens for this kind of thing. A nanny cares for children full time, 40 hours or more a week.

[Anonymous]

Anonymous wrote:

Anonymous wrote:DH makes almost 1M. We purchased our bethesda house for 1.3 but it’s likely worth 1.7 now. We have two nice cars fully paid for and I basically buy whatever I want without blinking an eye. But our kids go to public school and we don’t travel much because I have three young children and it’s just too much work.
We do not have a nanny or any other help other than twice a month cleaners (and I do SAH). But to answer your question we are completely comfortable but I think if I added in a full time nanny, expensive vacations and shopping sprees and private school for three kids things would feel tight.

I am conservative with finances but am struggling to understand how this would feel tight on a $1M salary.

Yes- where does your money go? You have no mortgage, childcare/tuition, car payments, or travel.