You need to make $90,000 to be happy in DC

[Anonymous]

Anonymous wrote:

Anonymous wrote:When our HHI was 150k, living in the suburbs, money was very tight with kids. Then one spouse was suddenly unemployed for 6 months. During that period we could not make ends meet. I wish I were exaggerating.

Both spouses gainfully employed now, one increased salary dramatically, so HHI is up to 250k. We can breathe now but I still get anxious remembering those 6 months and how close we potentially are to financial ruin. Even after years of experience and tens of thousands of higher education expenses (probably higher).

Before any jumps on me, we do not live extravagantly and always within our means. It's just that this area is insanely expensive and has become much moreso over the past decade.

Extravagant will mean different things to different people. A good quality non-extravagant (happy) life only requires -

1. Food and Beverages in your belly
2. Cloths on your back and Shoes on your feet
3. Good Health & Health Care
4. A Roof over your head
5. A full time job you enjoy
6. Public Education
7. The occasional splurge.

Everything beyond that is extra, some would say extravagant. And anyone of the above 7 categories only require basic levels to be happy. You don't need to be in the best neighborhood, the best schools, wear the best cloths, eat fancy food, or be house poor.

I would add a safety net and retirement savings. Nothing extravagant, but enough not to worry too much.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When our HHI was 150k, living in the suburbs, money was very tight with kids. Then one spouse was suddenly unemployed for 6 months. During that period we could not make ends meet. I wish I were exaggerating.

Both spouses gainfully employed now, one increased salary dramatically, so HHI is up to 250k. We can breathe now but I still get anxious remembering those 6 months and how close we potentially are to financial ruin. Even after years of experience and tens of thousands of higher education expenses (probably higher).

Before any jumps on me, we do not live extravagantly and always within our means. It's just that this area is insanely expensive and has become much moreso over the past decade.

Extravagant will mean different things to different people. A good quality non-extravagant (happy) life only requires -

1. Food and Beverages in your belly
2. Cloths on your back and Shoes on your feet
3. Good Health & Health Care
4. A Roof over your head
5. A full time job you enjoy
6. Public Education
7. The occasional splurge.

Everything beyond that is extra, some would say extravagant. And anyone of the above 7 categories only require basic levels to be happy. You don't need to be in the best neighborhood, the best schools, wear the best cloths, eat fancy food, or be house poor.

I would add a safety net and retirement savings. Nothing extravagant, but enough not to worry too much.

Yes, but a modest house in a working class part of town with shit schools still costs a fortune. We bought a 1200sf townhome that had been marginally improved for $300K that was less than we paid in rent for a 2BR apt. Because we are not rich, we did an FHA loan and our monthly mortgage was $1800. Such is DC. Where I'm originally from $1800 a month buys you a hell of a lot more.

And really, who aspires to simply providing their family the bare minimum? I'm not extravagant, but I'm not living my life with a poverty mentality either just so you can feel superior and holier than thou.

[Anonymous]

This is largely why we are leaving DC. Neither of us wants to do the sorts of jobs you have to do to be very comfortable here.

We both work very hard - not biglaw hard, but hard - and between us earn an amount that seems like it should be enough for some comfort and some security. Instead it feels like we can either get one or the other.

So we picked, and have some comfort - but no security. And we are getting too old for this shit.

So goodbye, DC - we had a good time here. We met some great people. We've had gotten to do all kinds of things professionally that we couldn't have done anywhere else.

And now, it looks like, we are leaving, for somewhere a little cheaper.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:When our HHI was 150k, living in the suburbs, money was very tight with kids. Then one spouse was suddenly unemployed for 6 months. During that period we could not make ends meet. I wish I were exaggerating.

Both spouses gainfully employed now, one increased salary dramatically, so HHI is up to 250k. We can breathe now but I still get anxious remembering those 6 months and how close we potentially are to financial ruin. Even after years of experience and tens of thousands of higher education expenses (probably higher).

Before any jumps on me, we do not live extravagantly and always within our means. It's just that this area is insanely expensive and has become much moreso over the past decade.

Extravagant will mean different things to different people. A good quality non-extravagant (happy) life only requires -

1. Food and Beverages in your belly
2. Cloths on your back and Shoes on your feet
3. Good Health & Health Care
4. A Roof over your head
5. A full time job you enjoy
6. Public Education
7. The occasional splurge.

Everything beyond that is extra, some would say extravagant. And anyone of the above 7 categories only require basic levels to be happy. You don't need to be in the best neighborhood, the best schools, wear the best cloths, eat fancy food, or be house poor.

I would add a safety net and retirement savings. Nothing extravagant, but enough not to worry too much.

Yes, but a modest house in a working class part of town with shit schools still costs a fortune. We bought a 1200sf townhome that had been marginally improved for $300K that was less than we paid in rent for a 2BR apt. Because we are not rich, we did an FHA loan and our monthly mortgage was $1800. Such is DC. Where I'm originally from $1800 a month buys you a hell of a lot more.

And really, who aspires to simply providing their family the bare minimum? I'm not extravagant, but I'm not living my life with a poverty mentality either just so you can feel superior and holier than thou.

Zillow reports 407 listings between $50,000 and $200,000 for homes/condos/townhouses with 2+ bedrooms and 1+ bath in DC.
http://www.zillow.com/homes/for_sale/DC/house,condo,mobile,townhouse_type/12_rid/2-_beds/1-_baths/50000-200000_price/192-770_mp/priced_sort/39.021984,-76.79409,38.764926,-77.23526_rect/11_zm/1_fr

[Anonymous]

Happy on 70K in DC.

[Anonymous]

Married with a child in daycare, $90k is far from enough. I'd say we were comfortable around $200k. We're renting a townhouse that would cost $400k, in an okay district. I work remote from home, but DH is a Fed. I would LOVE to relocate, but not in the cards at the moment. Hoping in a few years that will be possible, but we're content at the moment. I'll be more content once the cars and student loan payments disappear (about 2 years away).

[Anonymous]

I make $85k. One parent, one kid family with a tiny house in a mediocre school cluster. It's doable, but I'd be a whole lot less stressed, and presumably happier, with more.

[Anonymous]

I'd say $90k is on the low end to be comfortable for a family's income...I can see $90k being a comfortable number for a single person.

[Anonymous]

Anonymous wrote:I'd say $90k is on the low end to be comfortable for a family's income...I can see $90k being a comfortable number for a single person.

If one spouse is staying at home kids don't cost that much. Basically just the cost of their food and clothes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'd say $90k is on the low end to be comfortable for a family's income...I can see $90k being a comfortable number for a single person.

If one spouse is staying at home kids don't cost that much. Basically just the cost of their food and clothes.

But you will have to live in a small condo or the city slum

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'd say $90k is on the low end to be comfortable for a family's income...I can see $90k being a comfortable number for a single person.

If one spouse is staying at home kids don't cost that much. Basically just the cost of their food and clothes.

But you will have to live in a small condo or the city slum

Is there something wrong with a small condo? Or do you really need to walk 150 feet from the living room to the bathroom?

[Anonymous]

Anonymous wrote:This is largely why we are leaving DC. Neither of us wants to do the sorts of jobs you have to do to be very comfortable here.

We both work very hard - not biglaw hard, but hard - and between us earn an amount that seems like it should be enough for some comfort and some security. Instead it feels like we can either get one or the other.

So we picked, and have some comfort - but no security. And we are getting too old for this shit.

So goodbye, DC - we had a good time here. We met some great people. We've had gotten to do all kinds of things professionally that we couldn't have done anywhere else.

And now, it looks like, we are leaving, for somewhere a little cheaper.

Good for you, DC sucks.

[Anonymous]

Anonymous wrote:This is largely why we are leaving DC. Neither of us wants to do the sorts of jobs you have to do to be very comfortable here.

We both work very hard - not biglaw hard, but hard - and between us earn an amount that seems like it should be enough for some comfort and some security. Instead it feels like we can either get one or the other.

So we picked, and have some comfort - but no security. And we are getting too old for this shit.

So goodbye, DC - we had a good time here. We met some great people. We've had gotten to do all kinds of things professionally that we couldn't have done anywhere else.

And now, it looks like, we are leaving, for somewhere a little cheaper.

Me too! Can't wait to leave at the end of the year.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'd say $90k is on the low end to be comfortable for a family's income...I can see $90k being a comfortable number for a single person.

If one spouse is staying at home kids don't cost that much. Basically just the cost of their food and clothes.

But you will have to live in a small condo or the city slum

Is there something wrong with a small condo? Or do you really need to walk 150 feet from the living room to the bathroom?

yes, that is a problem when you have 4 people, kids bicycles, furniture, clothes, sporting equipment, camping equipment, pool toys, occational friend, neighbor who complains about noise, another kid trying to do homework

[Anonymous]

90k sounds right if you have no big loan payments. We have about 120k and a 700/month in student loans so it adds up. But that sounds about right. I agree wholeheartedly with the Pp who listed the 7 basic needs. We meet those most of the time be our family of 3 is content