Feel poor at 300k HHI

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here. Our mortgage payments are fixed at about 3750/month. Student loans of 1k/month (one lawyer), and we have a nanny because we can't make our work schedule fit with daycare and have no local family.

Wow. No wonder you feel stretched.

This doesn't seem that bad to me. How much is the nanny per month? You should still have a good amount of disposable income, even after these expenses.

[Anonymous]

After tax monthly income should be at least 17k

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. Our mortgage payments are fixed at about 3750/month. Student loans of 1k/month (one lawyer), and we have a nanny because we can't make our work schedule fit with daycare and have no local family.

Wow. No wonder you feel stretched.

This doesn't seem that bad to me. How much is the nanny per month? You should still have a good amount of disposable income, even after these expenses.

OP here. Total weekly cost of nanny including taxes, breedlove, and annual bonus is about 1k/week. Husband has a clearance so we can't afford to cut corners on citizenship or taxes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. Our mortgage payments are fixed at about 3750/month. Student loans of 1k/month (one lawyer), and we have a nanny because we can't make our work schedule fit with daycare and have no local family.

Wow. No wonder you feel stretched.

This doesn't seem that bad to me. How much is the nanny per month? You should still have a good amount of disposable income, even after these expenses.

OP here. Total weekly cost of nanny including taxes, breedlove, and annual bonus is about 1k/week. Husband has a clearance so we can't afford to cut corners on citizenship or taxes.

Okay so about 9k in major expenses. I'm guessing your take home pay is around 15-16k?

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP here. Our mortgage payments are fixed at about 3750/month. Student loans of 1k/month (one lawyer), and we have a nanny because we can't make our work schedule fit with daycare and have no local family.

Wow. No wonder you feel stretched.

+1
Your house is too expensive given that you have 1k of loans to pay every month. The nanny will hopefully end by kindergarten and it'll be easier.
We make less $220k and our house payment is just a little smaller than yours but we have no loans.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. Our mortgage payments are fixed at about 3750/month. Student loans of 1k/month (one lawyer), and we have a nanny because we can't make our work schedule fit with daycare and have no local family.

Wow. No wonder you feel stretched.

This doesn't seem that bad to me. How much is the nanny per month? You should still have a good amount of disposable income, even after these expenses.

OP here. Total weekly cost of nanny including taxes, breedlove, and annual bonus is about 1k/week. Husband has a clearance so we can't afford to cut corners on citizenship or taxes.

Nanny share? As the kiddo gets older?

[Anonymous]

Well, obviously it's the nanny costs that are killing you. Your only option is to get an au pair instead--much cheaper--or find a daycare that runs until 6 or 6:30 and make it work.

[Anonymous]

Anonymous wrote:After tax monthly income should be at least 17k

It's closer to 11 after retirement and insurance.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP here. Our mortgage payments are fixed at about 3750/month. Student loans of 1k/month (one lawyer), and we have a nanny because we can't make our work schedule fit with daycare and have no local family.

Wow. No wonder you feel stretched.

+1
Your house is too expensive given that you have 1k of loans to pay every month. The nanny will hopefully end by kindergarten and it'll be easier.
We make less $220k and our house payment is just a little smaller than yours but we have no loans.

Their house isn't that expensive to be honest. It's the loans and nanny that are hurting them.

[Anonymous]

Anonymous wrote:

Anonymous wrote:After tax monthly income should be at least 17k

It's closer to 11 after retirement and insurance.

OP here. We max our 401k and life insurance and monthly take home is about 15k. Employer is one of few that pays full health and life ins.

[Anonymous]

Anonymous wrote:

Anonymous wrote:After tax monthly income should be at least 17k

It's closer to 11 after retirement and insurance.

It's blasphemy to say so on this board but I would cut back on retirement contributions temporarily. Maybe only do up to the employee match. Pay your loans off aggressively with that money and then reup on the retirement when the loans are gone. You'll have 1k extra breathing room per month.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:After tax monthly income should be at least 17k

It's closer to 11 after retirement and insurance.

OP here. We max our 401k and life insurance and monthly take home is about 15k. Employer is one of few that pays full health and life ins.

That's what I figured. PP is smoking crack thinking you only bring home 11k. I'm the 225k poster and DH brings home that much after insurance and retirement savings.

[Anonymous]

Meh, my boss makes $1.4 mil, and complains to me constantly about being broke. I make $70K and am doing fine. I just don't understand some people. .....

[Anonymous]

You are doing ok, OP. Your biggest cost is the nanny and that will go away in a few years.

We lived frugally for many years and only now that the kids are older are we taking vacations and doing major renovations around the house. Why are you comparing yourself with others?

[Anonymous]

You could change jobs to something with more reasonable hours. I had to turn down a job with pay increase recently that because it would not work with aftercare.