Dual income families, what is your HHI?

[Anonymous]

DH $220K - $280K, depending on bonus (none this year, sadly)
Me $50K (part time)

We have one older infant and are trying for # 2.

We pay around $1,800 a month for a nanny share. Not sure exactly what we'll do when # 2 comes but I intend to keep working part time. Even if it's at a loss for a few years, it's worth it to me to keep my career (somewhat) on track.

Our mortgage is around $2,500 a month on Capitol Hill. We're looking to relocate to the close-in northern VA burbs in the near future, which may close to double that figure.

[Anonymous]

I'm probably going to out earn my husband this year for the first time in the 5 years we've been married. I am surprised by all the wives who make more than their husbands. That's awesome!

[Anonymous]

HHI ~ 310, dh and I make the same amount. We live in AU park, mortgage around 3800. Two DDs, one in public elementary and one in daycare. About 1800/mo for care and an additional 3500 a summer for camps. We are both in our 40s, I am a few years older.

[Anonymous]

Interesting thread. I'm dyingto know what you high earners do...are you mostly lawyers?

[Anonymous]

This is totally pretentious, but it is anonymous, so what's the harm.

Me: $575K
Spouse: $75K
Rental Income (net of expenses and mortgages) $50K

Total $700K (we are 33 and 34)

[Anonymous]

Yes - please tell us what you're doing and what I'm doing wrong?

At 34, I thought I was doing well making 107K as a government contractor.

This post is telling me otherwise.

DH is 33, making 90K as a Director of Client Services (marketing).

[Anonymous]

Anonymous wrote:This is totally pretentious, but it is anonymous, so what's the harm.

Me: $575K
Spouse: $75K
Rental Income (net of expenses and mortgages) $50K

Total $700K (we are 33 and 34)

what do you do that you make 575K at age 33?

[Anonymous]

Me: 170k (lawyer)
DH: 80k (fairly junior fed)
1900/mo mortgage in Bethesda and 1700/mo daycare for DC. Both soon to decrease (refinancing / aging into subsidized daycare).
Our arrangement is that DH brings in job security/benefits/more time at home and I bring in the extra cash for retirement/college/etc. BigLaw jobs aren't forever, so we try to keep our expenses (minus childcare) pretty close to what DH earns.

[Anonymous]

I also find it interesting that some many women posting are the family high-earners.

Me: 180K (lawyer)
DH: 65K

3900/mo mortgage in upper NW. One DC in public school, so about 5k/year for aftercare and summer camp. We save about 30k/year for retirement and 6k/year for college - wish we had an extra 1k/mo to put more away for college and save for a house remodel.

[Anonymous]

Anonymous wrote:Yes - please tell us what you're doing and what I'm doing wrong?

At 34, I thought I was doing well making 107K as a government contractor.

This post is telling me otherwise.

DH is 33, making 90K as a Director of Client Services (marketing).

There is nothing you are doing "wrong." You are doing very well by the vast majority of standards out there!

Also, you have to remember that many, many of these posters are have paid/are paying their dues for their high salaries--usually in terms of long hours, high stress, and/or lots of travel. You are going to have a few that have landed dream jobs, but trust me that most people earning very high salaries have paid for them in some form or another.

DH and I are in education and gov't respectively--the pay is good, but certainly not astronomical. We can afford to send our one child to private school and own a little house in NW DC. We are happy and grateful for our stable, interesting jobs and excellent work-life balance. I think that a lot of parents in DC who work for not-for-profits and NGO-type organizations would say the same.

[Anonymous]

Anonymous wrote:

Anonymous wrote:bethesda mortgage: 4700/month

me: 125,000
hub: 160,000

one dear boy

painful.

I'm the $4,800/month from above. so glad to see we have some company. Our incomes are pretty close. Way I look at it, it will be painful for a few years, but sooner or later inflation will kick in and/or our incomes will rise.

Wow, both of your households are big risk takers. We have an HHI of almost $400,000 and our mortgage payment is only $2,800 (though we pay extra). Even at our income level, there's no way I'd feel comfortable spending almost $5K a month on just PITI. I must be very risk averse.

[Anonymous]

Anonymous wrote:

Anonymous wrote:HHI ~110k. both of us work, one child in private school, one on the way, own a small townhouse (w/o parents help) in an undesirable county that was bought during the boom and is underwater. i would feel a lot better financially and with life in general if it wasn't for the damn house.

bro, time to mail the mortgage company the keys and bail....

Just a warning: Maryland is a state where the bank can sue you for the difference between your mortgage and the value of the house.

Signed, an underwater home "owner" who's contemplated doing just this MANY times.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:bethesda mortgage: 4700/month

me: 125,000
hub: 160,000

one dear boy

painful.

I'm the $4,800/month from above. so glad to see we have some company. Our incomes are pretty close. Way I look at it, it will be painful for a few years, but sooner or later inflation will kick in and/or our incomes will rise.

Wow, both of your households are big risk takers. We have an HHI of almost $400,000 and our mortgage payment is only $2,800 (though we pay extra). Even at our income level, there's no way I'd feel comfortable spending almost $5K a month on just PITI. I must be very risk averse.

We too have a higher income and lower mortgage, due to the fact that we were lucky and purchased a home pre-bubble, but I don't see these posters are risky at all. If they bring home 65% of their income, they still are bringing home $15,430/mo, back out mortgage and they have over 10K left. Who can't live on 10K/mo??? This is WAYYYYYYYYYYYYYYYYYY better off that the majority of Americans.

Poster-I'd hate to see what you think of the general populace, considering the average Dual HHI is 67k and the average mortgage is $1,400/mo. The average american family only has around $2,700 left over after they pay their mortgage. You think having 10K left over is risky?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:bethesda mortgage: 4700/month

me: 125,000
hub: 160,000

one dear boy

painful.

I'm the $4,800/month from above. so glad to see we have some company. Our incomes are pretty close. Way I look at it, it will be painful for a few years, but sooner or later inflation will kick in and/or our incomes will rise.

Wow, both of your households are big risk takers. We have an HHI of almost $400,000 and our mortgage payment is only $2,800 (though we pay extra). Even at our income level, there's no way I'd feel comfortable spending almost $5K a month on just PITI. I must be very risk averse.

We too have a higher income and lower mortgage, due to the fact that we were lucky and purchased a home pre-bubble, but I don't see these posters are risky at all. If they bring home 65% of their income, they still are bringing home $15,430/mo, back out mortgage and they have over 10K left. Who can't live on 10K/mo??? This is WAYYYYYYYYYYYYYYYYYY better off that the majority of Americans.

Poster-I'd hate to see what you think of the general populace, considering the average Dual HHI is 67k and the average mortgage is $1,400/mo. The average american family only has around $2,700 left over after they pay their mortgage. You think having 10K left over is risky?

yep. I'm one of the "high" mortgage posters. It sucks, but I took a $100K paycut this year when I lost my Big Law job. I think the income will come back, but it will take at least a year or two. In the meantime, no new cars (no car payments) and a little less savings. Not really that big of a deal. We have decent equity in the house so it is ok.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:bethesda mortgage: 4700/month

me: 125,000
hub: 160,000

one dear boy

painful.

I'm the $4,800/month from above. so glad to see we have some company. Our incomes are pretty close. Way I look at it, it will be painful for a few years, but sooner or later inflation will kick in and/or our incomes will rise.

Wow, both of your households are big risk takers. We have an HHI of almost $400,000 and our mortgage payment is only $2,800 (though we pay extra). Even at our income level, there's no way I'd feel comfortable spending almost $5K a month on just PITI. I must be very risk averse.

We too have a higher income and lower mortgage, due to the fact that we were lucky and purchased a home pre-bubble, but I don't see these posters are risky at all. If they bring home 65% of their income, they still are bringing home $15,430/mo, back out mortgage and they have over 10K left. Who can't live on 10K/mo??? This is WAYYYYYYYYYYYYYYYYYY better off that the majority of Americans.

Poster-I'd hate to see what you think of the general populace, considering the average Dual HHI is 67k and the average mortgage is $1,400/mo. The average american family only has around $2,700 left over after they pay their mortgage. You think having 10K left over is risky?

I haven't done the calculations, but I don't think there's that much left over at that gross income, after 401(k) contributions, childcare, college savings, food, household utilities and repair, clothing, activities, etc.