Family budget if your HHI is around 375k

[Anonymous]

Anonymous wrote:PP, we are just about $450 ourselves, but don't worry about replacing that income, because we live on less than 200K and have no mortgage. We could certainly spend less, and will have more once we're done paying for college and saving for retirement. Plus, at this HHI level, we've amassed almost 3 million already and we're 15 years away from retirement.

Or you could get out of the rat race now.

[Anonymous]

Anonymous wrote:PP, we are just about $450 ourselves, but don't worry about replacing that income, because we live on less than 200K and have no mortgage. We could certainly spend less, and will have more once we're done paying for college and saving for retirement. Plus, at this HHI level, we've amassed almost 3 million already and we're 15 years away from retirement.

That is pretty amazing. I wouldn't worry if I was you either. We are just hoping to hit 1m by 40. Housing costs are a huge variable right now because we're looking to buy.

[Anonymous]

Anonymous wrote:Then find better charities-- there are lots that do a great job. You don't need to give to the first ones that mail you crap.

Oh, and cry me a river for the poster who only has $2500 A MONTH to spend on vacations/car repairs.

SERIOUSLY. I only make 2500 a month AFTER taxes! Thats what I live off of.

All these rich morons who cant budget need to get off the internet and into a financial advisor's office.

[Anonymous]

Anonymous wrote:$18000 take home
$7000 mortgage (big extra payment)
$2000 Private school
$4000 extra savings
$800 housekeeper
$1000 activies/lessons (whole family takes piano)
$1000 charity/Synagouge dues

Leaves about $2000/month for expenses, travel, etc. the extra savings is split between a short term fund which we dip into for house repairs and other big expenses and extra retirement.

We've had a large ramp up in income in the past 5 years, and we've tried to maintain the same lifestyle while upping the savings.

Synagouge! See, there's your problem right there. Try a non-gouging synagogue ...

[Anonymous]

I'll be happy to manage your money for you...for 20%. Considering that's more than I make in a year, (and you're wasting more money per month than most people in the district make), shouldn't be hard to trim the fat.

[Anonymous]

Anonymous wrote:

Anonymous wrote:PP, we are just about $450 ourselves, but don't worry about replacing that income, because we live on less than 200K and have no mortgage. We could certainly spend less, and will have more once we're done paying for college and saving for retirement. Plus, at this HHI level, we've amassed almost 3 million already and we're 15 years away from retirement.

Or you could get out of the rat race now.

What would I do with myself? I'm too young to quit. I take vacation and work short days whenever I want.

[Anonymous]

Anonymous wrote:

Anonymous wrote:PP, we are just about $450 ourselves, but don't worry about replacing that income, because we live on less than 200K and have no mortgage. We could certainly spend less, and will have more once we're done paying for college and saving for retirement. Plus, at this HHI level, we've amassed almost 3 million already and we're 15 years away from retirement.

That is pretty amazing. I wouldn't worry if I was you either. We are just hoping to hit 1m by 40. Housing costs are a huge variable right now because we're looking to buy.

FYI, we hit $1M by 38 and 40. Had the second million 6 years later. How old are you? We bought our family home when we were 33 and 35.

[Anonymous]

Anonymous wrote:Then find better charities-- there are lots that do a great job. You don't need to give to the first ones that mail you crap.

Oh, and cry me a river for the poster who only has $2500 A MONTH to spend on vacations/car repairs.

Charity starts at home, we have poor families and have to help them financially, so we don't donate to anonymous charity organizations. We also donate our clothes, furniture, etc to those our families know, it goes to real people in need.

[Anonymous]

This is amazing to me. We make 96K a year and put away $2000 a month into savings (that's after pre-tax retirement, $750 in student loans, rent, etc). I guess the biggest difference is we don't own a house, but that's because we know we can't afford the insane mortgages that people are willing to take out around here.

I'd suggest hiring a financial planner, or tracking your expenses on Mint and figuring out what is a need and what is a want.

[Anonymous]

Good to know more money doesn't mean less problems.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:PP, we are just about $450 ourselves, but don't worry about replacing that income, because we live on less than 200K and have no mortgage. We could certainly spend less, and will have more once we're done paying for college and saving for retirement. Plus, at this HHI level, we've amassed almost 3 million already and we're 15 years away from retirement.

Or you could get out of the rat race now.

What would I do with myself? I'm too young to quit. I take vacation and work short days whenever I want.[/quote So sounds like you are already out of the rat race if you can take vacation whenever you want and short days when you want. Sounds like you have freedom so that is not a rat race. I suppose another option would be to get any fun job that you feel like. Many options!

[Anonymous]

Wow, I take home £16,000 (roughly $24,000) after tax, include my wife's take home of £16,000 after tax we have £850 a month rent to pay plus car, utility bills and my student loan payments and we do just fine, reading about people struggling when they make $200k to $400k a year is a massive joke and believe they are only writing on here to brag!! Got money...ok...use it to pay for someone to help you with your problems!!

[Anonymous]

Jeez you people are baby's. I make less then 1k per month and that's before taxes and I live just fine. Why are you complaining when your the ones going on the vacations and hiring the nannies. Obviously your priorities are crooked

[Anonymous]

I'm physically ill. My husband brings home 36k...A YEAR. My kid is in public school. We're about to lose our house because we can't make our $1200 a month mortgage after I got sick. I have no health insurance and I keep getting denied for disability for ambiguous reasons even though I can't work. I so would if I could. We scrape by but barely, but we have food on the table and a roof over our heads

You people seriously need a reality check. You're welcome to stay at my house four awhile. You people make me sick and make me want to cry. MANAGE YOUR F*CKING money better. You don't need a Coach bag, estee lauder or clinique toiletries. You don't need to spend $200 on a pair of f*cking shoes, payless is just fine and how many do you have in your closets. How much do you sink down the drain keeping up with "trends". I understand you have to look a certain way for your jobs but how much do you pay for a haircut?

I understand you earn your money. You worked for your degrees and your jobs and your families and blah blah blah FINE, but you damned well better pull your shit together because YOU ARE damned f*cking lucky to have what you have. You can lose it in an instant. CHERISH it instead of frittering it away and saying 14k a month isn't enough. I would be grateful at this point to be making 14k a year. I'm probably going to be dead in two. So pull your asses out of your heads and manage your money better you OWE it to yourself and your children. REALITY CHECK PEOPLE!!

[Anonymous]

If you're giving a grand a month to your synagogue, you may want to visit your rabbi's home and ask him how he handles his budgets. And don't forget to check his bathrooms for gold taps.