In your opinion, how much salary would a person need to make per year to life comfortably in DC?

[Anonymous]

I make under $60K as a single parent with one school-aged kid. It's tight, but we don't really lack for anything. I wouldn't call it comfortable, but I'm not poor. I'm able to take 2-3 trips a year to visit family and my kid is in 2 extracurriculars through the parks and rec league. I don't have any debt other than about $20K in student loans, I contibute to retirement and I rent.

For ME, I'd feel comfortable at about $70K. I could max out retirement and start contributing to college savings and saving to buy a house.

[Anonymous]

Anonymous wrote:I make under $60K as a single parent with one school-aged kid. It's tight, but we don't really lack for anything. I wouldn't call it comfortable, but I'm not poor. I'm able to take 2-3 trips a year to visit family and my kid is in 2 extracurriculars through the parks and rec league. I don't have any debt other than about $20K in student loans, I contibute to retirement and I rent.

For ME, I'd feel comfortable at about $70K. I could max out retirement and start contributing to college savings and saving to buy a house.

And, for me, that is what I remember from my first day of economics class at college:

What do we want? A little bit more. Sure, a pile of money would be great but really I'd be OK with just a bit more than what I have. This drives our entire economic system.

[Anonymous]

Anonymous wrote:
You are all nuts our HHI is $110 in close in bethesda in a nice house and live perfectly fine on that.

When did you buy your house?

[Anonymous]

$200k

[Anonymous]

Anonymous wrote:

Anonymous wrote:
You are all nuts our HHI is $110 in close in bethesda in a nice house and live perfectly fine on that.

When did you buy your house?

My thoughts exactly. I have friends with $5,000 a month mortgage payments who bought recently. Our neighbors bought in the late 90s, they pay $450 a month. Biiiiiig difference

[Anonymous]

Combined our HHI is around $250k. We live in NW DC. Once I started the kids' college savings plans, I feel as if money is always tight. (I am contributing $900/month to them.) If we made $300k I would breathe easier.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
You are all nuts our HHI is $110 in close in bethesda in a nice house and live perfectly fine on that.

When did you buy your house?

I would be interested in the following statistic: What percentage of people could afford to pay an 80% mortgage on their house today?

I am one of many who says 'I could not afford to buy my house today'

[Anonymous]

Anonymous wrote:

Anonymous wrote:I make under $60K as a single parent with one school-aged kid. It's tight, but we don't really lack for anything. I wouldn't call it comfortable, but I'm not poor. I'm able to take 2-3 trips a year to visit family and my kid is in 2 extracurriculars through the parks and rec league. I don't have any debt other than about $20K in student loans, I contibute to retirement and I rent.

For ME, I'd feel comfortable at about $70K. I could max out retirement and start contributing to college savings and saving to buy a house.

And, for me, that is what I remember from my first day of economics class at college:

What do we want? A little bit more. Sure, a pile of money would be great but really I'd be OK with just a bit more than what I have. This drives our entire economic system.

While that's true, I agree with PP. I posted that 90K would do it for me, currently at 65-70k. I had about 6 months where I was living off the equivalent of 85K/year and life was good and comfy. Didnt run up or add any new expenses, paid down some debt, saved more. Actually, I cut expenses. For me, I'm happy living in the home I purchased when I was making 50K. I don't like car notes, so I drive my cars until they die. Like PP, I want to make more to save more.

[Anonymous]

I can live on $200k. I'd love 300k because I have a mental goal of saving $100,000 a year and 300,000 would enable that.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
You are all nuts our HHI is $110 in close in bethesda in a nice house and live perfectly fine on that.

I don't think I'm nuts. The term "comfortable" is a relative term.

For our family $200k provides a comfortable living where we can pay for someone to clean the house, do the grunt work in the yard, save for ourselves and the children and not really think about ordering in, getting a message a couple of times a year or flying to visit family for a three day weekend a few times a year.

Just because your comfort zone is $100k doesn't make other people nuts, it means you have different priorities on how you choose to spend you time and save/spend your money. Don't be so judgmental.

That's all you do with 200k?

You're joking, right? We do what we want to do, have enough for savings, and not worry about the bills. That, to us, is living comfortably.

We do all that plus travel internationally, two kids (no childcare payments) for less than $100k. We live very comfortably!

[Anonymous]

Well under 8 or 900k would be tough for us because we couldn't afford our cc membership, our cars, our European vacations, frequent meals at fine restaurants, 3 private school tuitions, and our vacation house on the eastern shore, among other things

[Anonymous]

Anonymous wrote:I can live on $200k. I'd love 300k because I have a mental goal of saving $100,000 a year and 300,000 would enable that.

You do realize that 30-40% goes to taxes so you wouldnt be making 100k

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:
You are all nuts our HHI is $110 in close in bethesda in a nice house and live perfectly fine on that.

I don't think I'm nuts. The term "comfortable" is a relative term.

For our family $200k provides a comfortable living where we can pay for someone to clean the house, do the grunt work in the yard, save for ourselves and the children and not really think about ordering in, getting a message a couple of times a year or flying to visit family for a three day weekend a few times a year.

Just because your comfort zone is $100k doesn't make other people nuts, it means you have different priorities on how you choose to spend you time and save/spend your money. Don't be so judgmental.

That's all you do with 200k?

You're joking, right? We do what we want to do, have enough for savings, and not worry about the bills. That, to us, is living comfortably.

We do all that plus travel internationally, two kids (no childcare payments) for less than $100k. We live very comfortably!

We don't do most of those things with our $210k HHI.

[Anonymous]

Housing: $50k
Repairs: $4k
401k: $17k + match
Cars: $3.5k
School: $18k
Utilities: $4k
Personal: $24k
Health: $7k
Vacation: $1k
Taxes: $40k
Savings: $2k

Personal covers food, grooming, clothes, entertainment, and hobbies for family of 6 + 1 cat

170k, 40 min commute door to door.

[Anonymous]

Family of 4, living close in, owning a home, feel like you're saving for retirement, and enjoying life in a modest fashion....I'd say 250K.