HHI for single income families?

[Anonymous]

If you have one stay at home parent - what is your HHI? was your HHI before when you had two earners?

any material differences in lifestyle before / after?

[Anonymous]

About $300+, was about $400. We are saving less but that’s about it and our lives are easier and less crazed. It’s been a year and it has worked out very well.

[Anonymous]

Current HHI - $150k. We were never a 2 income household. DH didn’t have a job when we got married and I made about $100k. After DC was born, he was a SAHD until DC was about 18 months, then took a job that moved us overseas and I quit (couldn’t work where we went) with an $80k salary and housing. That was over a decade ago and have been back in DC for about 6 years. We live quite comfortably in a close-in VA suburb.

[Anonymous]

Current- $120K. Two incomes HHI was $260K. We save less. I watch our monthly expenses more, and by "watch" I mean I don't buy something at the grocery store I might need in the next couple of weeks. I make a meal plan, buy what I need for the plan, and if I need something else later I go back to the store. This is partly driven by our small space (which is the same apartment we had on two incomes). I do miss feeling more self sufficient, but that's all in my head and I knew I would miss that when I decided to SAH with the kids (3 total). I could go back to work if I wanted to (at least for the next few years, I realize at some point it would be difficult).

[Anonymous]

You will get a range of answers. I didn't want to sacrifice lifestyle one bit . When we became extraordinarily comfortable on 2 incomes was when we hit 500k. I did not quit until DH could maintain that number without my income. Wasn't interested in sacrificing DHs early retirement so I could SAH, no sacrifice full freight college for our kids, or nice vacations. I think SSH is fooling for moderate income families.

[Anonymous]

HHI today is not really comparable to when we made the decision to go from two incomes to one.

At the time first child was born HHI probably went from $375k down to $300k but DH’s career seemed to be doing well and we thought his income would continue to increase. DC are 10 and 12 now and HHI is now $2 - $2.5m and I have been fortunate enough to be able to stay home throughout.

Obviously $300k was plenty to live comfortably on and I don’t want to sound like someone who has lost perspective but those first couple of years we had just bought a new house that was a bit of a stretch, new minivan when we had 2nd DC, financial crisis hit, started college savings accounts, etc so the first couple of years we certainly did hunker down a bit and not spend a much money on vacations, furniture for the house we bought etc as we did not want to become one of those people who couldn’t make ends meet on what is a high income for 99.99% of the world.

[Anonymous]

350k. DH has some major income jumps in the almost 3 years I’ve been SAH. Overall lifestyle feels “richer.”

[Anonymous]

Anonymous wrote:If you have one stay at home parent - what is your HHI? was your HHI before when you had two earners?

any material differences in lifestyle before / after?

It is currently around $200k, but it was close to $100k when I started being a sahp. DH earned about 50% more than me per hour. I was part time for two years before I became a full time sahp.

We moved in together when we were engaged and married 6 months later. From the start, we saved my entire take home salary and 15% of DH’s. We never intended to have me sah but circumstances intervened and it became the best choice of our available options. Our children were 2 and 4 at the time. As a result, when I started being a sahp, we did not have as much of a financial adjustment. We had a nice savings account and we had kept our budget in check. The biggest adjustment for me was in the staying at home full time. It took me years to figure out the cadence. I was a much more natural wohp.

[Anonymous]

Anonymous wrote:

Anonymous wrote:If you have one stay at home parent - what is your HHI? was your HHI before when you had two earners?

any material differences in lifestyle before / after?

It is currently around $200k, but it was close to $100k when I started being a sahp. DH earned about 50% more than me per hour. I was part time for two years before I became a full time sahp.

We moved in together when we were engaged and married 6 months later. From the start, we saved my entire take home salary and 15% of DH’s. We never intended to have me sah but circumstances intervened and it became the best choice of our available options. Our children were 2 and 4 at the time. As a result, when I started being a sahp, we did not have as much of a financial adjustment. We had a nice savings account and we had kept our budget in check. The biggest adjustment for me was in the staying at home full time. It took me years to figure out the cadence. I was a much more natural wohp.

. I will add that we have been able to save more than enough for retirement and fully fund our children’s college.

[Anonymous]

Just make sure you’re saving the same for retirement.

[Anonymous]

100K. I am on a visa that does not allow me to work.

[Anonymous]

For 6-12 months ahead of time, save the intended SAHP’s take home income and only live off of the wohp income (allowing for 401k/TSP and like contributions). That way you will be able to see if you can do it and you will have a nice nest egg to boot.

[Anonymous]

Around 800. Was 700. No change.

[Anonymous]

Anonymous wrote:HHI today is not really comparable to when we made the decision to go from two incomes to one.

At the time first child was born HHI probably went from $375k down to $300k but DH’s career seemed to be doing well and we thought his income would continue to increase. DC are 10 and 12 now and HHI is now $2 - $2.5m and I have been fortunate enough to be able to stay home throughout.

Obviously $300k was plenty to live comfortably on and I don’t want to sound like someone who has lost perspective but those first couple of years we had just bought a new house that was a bit of a stretch, new minivan when we had 2nd DC, financial crisis hit, started college savings accounts, etc so the first couple of years we certainly did hunker down a bit and not spend a much money on vacations, furniture for the house we bought etc as we did not want to become one of those people who couldn’t make ends meet on what is a high income for 99.99% of the world.

wow $2.5mm- what does your spouse do?

[Anonymous]

300-350k. We have more now than before because my spouse can focus on work while I deal with kids and the household. My job paid ok, but growth trajectory would have flat lined unless I took some drastic measures. I am SAHD.