Feel poor at 300k HHI

[Anonymous]

Anonymous wrote:

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.

Not the PP 11K is pretty typical take home for a HHI at the 300K level, if they are maxing out retirement. I'm really surprised OP's take home is closer to 15K.

Also, OP, don't let the haters get to you. You have to watch your budget at 300K in N. Arlington--the money just goes.

[Anonymous]

I know, cry me a river, but our finances are somewhat similar to yours so I understand what you mean that expectations and reality don't meet up. I can't believe DH and I make $300K, it is a huge sum of money. I also can't believe that we don't feel "richer" than we did when we made less than $200.

Do a long, hard look at your spending. Go for a nanny share or an au pair. Do you or DH eat out and/or buy coffee every day? I'm good at taking lunch to work, but DH isn't. Between daily coffee, often a breakfast sandwich, and then a salad or sandwich for lunch he easily spends close to $100/wk on eating out. Dial things like that back. Mow your own lawn. No, these aren't the things that let you take big vacations, but they add up. Put that money towards the loans.

Good luck. You know you are well off, it is just always hard to compare yourself to the Joneses.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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.

Not the PP 11K is pretty typical take home for a HHI at the 300K level, if they are maxing out retirement. I'm really surprised OP's take home is closer to 15K.

Also, OP, don't let the haters get to you. You have to watch your budget at 300K in N. Arlington--the money just goes.

Another crack smoker.

[Anonymous]

OP, you are not feeling poor but actually poor! Your finances sucks. Why did you have a kid when your finances were so precarious? Please do not have another child unless your HHI is at least 600K. Maybe you should move to a low COL area.

Have you considered getting a second part-time job? You could also move to a trailer park for a few years to save money.

[Anonymous]

Holy crap, another one of these posts?

Here's some advice:

Spend less time on the Internet and more time with a financial planner.

- 100K HHI and doing just fine

[Anonymous]

Anonymous wrote:

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

It's closer to 11 after retirement and insurance.

Yup, we are at 13 net home. 300k hhi also

[Anonymous]

Go spend some time in a poor neighborhood. Hang out with people who are food-insecure. Go to a cheap grocery store and talk to people. Walk or drive around in a poor neighborhood and take a look. Get some perspective.

[Anonymous]

Your problem is that you think that you should be swimming in money Scrooge McDuck style on that money. Not reasonable.

[Anonymous]

Anonymous wrote:Your problem is that you think that you should be swimming in money Scrooge McDuck style on that money. Not reasonable.

Why shouldn't they think that? Half the people on this thread have jumped in to point out that they make 17 times the median income or whatever. Either $300k is rich and you should live like Scrooge McDuck or its middle class for around here. Can't be both.

[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.

$15k minus ($4k for house and $4k for nanny and $1k for student loans)= $6k a month That is plenty to fund a nice vacation, eat very well, clothe your family, pay for incidentals and feather your nest a bit.

[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.

Yup, we are at 13 net home. 300k hhi also

We are also at 13k net. Her fixed expenses that she listed are over 9k.

[Anonymous]

Don't forget taxes go up astronomically after 100k.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Your problem is that you think that you should be swimming in money Scrooge McDuck style on that money. Not reasonable.

Why shouldn't they think that? Half the people on this thread have jumped in to point out that they make 17 times the median income or whatever. Either $300k is rich and you should live like Scrooge McDuck or its middle class for around here. Can't be both.

Earning $300k gives them choices. The more choices the higher up the chain. They have far more choices than the above average family in the area. They chose the house budget, they chose the school and chose to take on student loans to fund it, they chose to have a child and they chose to have jobs where they can afford to choose a nanny to make things work better. They wisely chose to fund their eventual retirement. The choose to spend the remaining $6k a month on things that do not include a vacation. They could change many of the above reasons choices and choose to take a nicer vacation, or live in a bigger house (probably with a longer commute and/or lower public school rating). Choices abound.

[Anonymous]

The student loans and nanny are killing you. You shouldn't have student loans when purchasing a home. The nanny is too expensive. There's 3k a month that could go to savings or having fun. This is why you feel poor.

[Anonymous]

Anonymous wrote:

Anonymous wrote:Your problem is that you think that you should be swimming in money Scrooge McDuck style on that money. Not reasonable.

Why shouldn't they think that? Half the people on this thread have jumped in to point out that they make 17 times the median income or whatever. Either $300k is rich and you should live like Scrooge McDuck or its middle class for around here. Can't be both.

Because that isn't what it means. It allows you to max out retirement. And hire a nanny. And not worry about fuel increases. And write a check to your best friend's fundraiser without thinking. It allows a lot of freedom and flexibility. Which is what UMC/UC is all about. And you shouldn't be petulant when so many people don't have those luxuries.