I Live Comfortably on Less than $70K After-Tax in DC Area

[Anonymous]

WTF is all this crap about $300k being middle class and $80k being poor? I (single, no kids) live very comfortably on less than $70k (net). Here's my approximate spending:

$1650 PITI (3-bedroom, 1700 st condo in Fairfax County)*
325 condo fee
200 cable/phone/internet
150 electric
50 water
400 groceries/household stuff
150 gas/commuting. (3-person carpool)
800 medical (includes premium)

Fixed expenses: $3725

$600 Eating out/entertainment
150 Clothes (don't need much - have plenty)
50 Household repairs
200 Donations (annualized)
250 Vacations (annualized)

Discretionary expenses: $1250

Plus, savings toward retirement: $700

Total....$5675 per month ($68,100)

[Anonymous]

We all have children. Because we are on a site called DC Urbanmoms.

[Anonymous]

I've never understood it either OP. We make $200K and have more money than we know what do with.

[Anonymous]

Anonymous wrote:WTF is all this crap about $300k being middle class and $80k being poor? I (single, no kids) live very comfortably on less than $70k (net). Here's my approximate spending:

$1650 PITI (3-bedroom, 1700 st condo in Fairfax County)*
325 condo fee
200 cable/phone/internet
150 electric
50 water
400 groceries/household stuff
150 gas/commuting. (3-person carpool)
800 medical (includes premium)

Fixed expenses: $3725

$600 Eating out/entertainment
150 Clothes (don't need much - have plenty)
50 Household repairs
200 Donations (annualized)
250 Vacations (annualized)

Discretionary expenses: $1250

Plus, savings toward retirement: $700

Total....$5675 per month ($68,100)

Because if you had even ONE child you'd need to add in at least 2k a month for daycare/nanny.

[Anonymous]

Anonymous wrote:We all have children. Because we are on a site called DC Urbanmoms.

Plenty of people here with grown children, my dear.

[Anonymous]

Anonymous wrote:I've never understood it either OP. We make $200K and have more money than we know what do with.

Is this from two people working and do you have kids? Most people are strapped because of childcare and housing costs.

[Anonymous]

Anonymous wrote:I've never understood it either OP. We make $200K and have more money than we know what do with.

Thank you!

[Anonymous]

Anonymous wrote:

Anonymous wrote:WTF is all this crap about $300k being middle class and $80k being poor? I (single, no kids) live very comfortably on less than $70k (net). Here's my approximate spending:

$1650 PITI (3-bedroom, 1700 st condo in Fairfax County)*
325 condo fee
200 cable/phone/internet
150 electric
50 water
400 groceries/household stuff
150 gas/commuting. (3-person carpool)
800 medical (includes premium)

Fixed expenses: $3725

$600 Eating out/entertainment
150 Clothes (don't need much - have plenty)
50 Household repairs
200 Donations (annualized)
250 Vacations (annualized)

Discretionary expenses: $1250

Plus, savings toward retirement: $700

Total....$5675 per month ($68,100)

Because if you had even ONE child you'd need to add in at least 2k a month for daycare/nanny.

OK, so for clarity, these people saying $80k is poor are talking about families? There's a big difference.

[Anonymous]

How did you get your down payment for the condo saved up?

It sounds like you don't have a car payment, which is great. Your car expenses are quite low. But you must have either paid that off at some point or saved up cash to buy it. Another thing a lot of people aren't able to do, and/or they need 2 cars.

[Anonymous]

You make a lot of money and you're single.

[Anonymous]

Anonymous wrote:You make a lot of money and you're single.

Op would be screwed if she had 2k a month in childcare costs.

[Anonymous]

The people screaming "YOU"D BE POOR IF YOU HAD KIDS!" are still wrong. The median HHI in DC is 75k, which by definition includes 2 children. Once again, it's really just a question of most people on this forum not wanting to live the way most people are actually living in the area.

[Anonymous]

Anonymous wrote:How did you get your down payment for the condo saved up?

It sounds like you don't have a car payment, which is great. Your car expenses are quite low. But you must have either paid that off at some point or saved up cash to buy it. Another thing a lot of people aren't able to do, and/or they need 2 cars.

It took me almost three years to save the downpayment (during which time I curtailed much of my retirement savings).

And yes, I paid off my car loan years ago. (I just need one, since I'm single.) Plus, because I am in a 3-person carpool, I spend very little on gas.

[Anonymous]

What do you earn to get $70K net?

[Anonymous]

Anonymous wrote:The people screaming "YOU"D BE POOR IF YOU HAD KIDS!" are still wrong. The median HHI in DC is 75k, which by definition includes 2 children. Once again, it's really just a question of most people on this forum not wanting to live the way most people are actually living in the area.

Absolutely true. I know a guy with a SAH wife and a small baby, and he earns around $80k. They're at the beach right now, in a rental, for the week.