Feel poor at 300k HHI

[Anonymous]

DH and I have one toddler and live in N. Arlington. Our HHi is a bit over 300K, far more than we had ever thought we would make. We save, pay student loans, and childcare. We have a nice house but it is not anything spectacular (4 bedrooms on a small lot). We are not struggling but we also do not toss around a ton of cash like our friends and neighbors, who we know earn less than we do. They always do insane vacations, huge house renovations, etc.

Not sure if we are being to conservative or what. But it sure feels like 300k is peanuts.

[Anonymous]

Popping the popcorn . . .

[Anonymous]

I make $67k 2 kids plus student loans and a house. How should I feel op?

[Anonymous]

UGH. UGH. Go away.

[Anonymous]

You're doing something wrong OP. We make 225k and feel rich. And that's with two kids! Pay off your loans and maybe you will feel better.

[Anonymous]

Well, you're right, actually. That is a pathetically low income for N Arlington.

[Anonymous]

Anonymous wrote:Well, you're right, actually. That is a pathetically low income for N Arlington.

It's more than twice the median HHI even in the wealthiest zip codes.

[Anonymous]

Is your mortgage super high plus you have a nanny ? That could suck the cash right out of you.

If you move to a cheaper neighborhood and do daycare you'll feel flush.

I live in Brookland, kids in great charter, feel like we have plenty and we make just under $200k. Vacationing abroad this summer. But we have a 10 yo car and shop at Aldi and goodwill. It's all about your choices.

[Anonymous]

You're being sensible and you know it. Your friends are not.

The only thing not sensible is this thread.

[Anonymous]

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.

[Anonymous]

I think the issue is that many of us were raised with an idea that a certain income buys a luxury lifestyle. In the DC area, the luxury lifestyle income is much higher than many of us ever imagined.

In OPs mind at 300k you should not have to think about how you spend your money, have a nice mansion type home, 2 great cars, full time nanny and housekeeper, country club membership etc.

Of course the reality in DC is that 300k does get you a luxury lifestyle compared to the person making 67k but not compared to the existence you thought it would/should buy in your mind.

[Anonymous]

You are pathetic OP. Please stop with the naval gazing and go help someone less fortunate than you. Set a better example for your child than what you're doing right now.

[Anonymous]

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.

[Anonymous]

Anonymous wrote:You're doing something wrong OP. We make 225k and feel rich. And that's with two kids! Pay off your loans and maybe you will feel better.

+1

[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.

That is a lot, but, no, that alone doesn't explain this. If you're making $300K, your monthly take home is over $11k even with insurance and maxing out 401k (more of you're not). I'm guessing it's the addition of the nanny that's killing you. What does she make? I am betting it's on par with your mortgage in actual costs to you (not just her salary, but also your side of her taxes, payroll service or tax prep, etc).