A Week In Washington, DC, On A Joint $655,000 Income - Money Diary

[Anonymous]

https://www.refinery29.com/en-us/surgeon-washington-dc-salary-money-diary

I know this is from last year but I recently read this article. $1,400 on dog day care made me laugh so hard.

Do other couple with similar HHI find it real or relatable? I do admire her strict schedule/routine, no wonder we only make less than half of what they make..

[Anonymous]

I don't think I can bear to read this right now.

Someone give me a synopsis with the highlights please!

[Anonymous]

ok, key financial break down here:

Occupation: Surgeon
Industry: Health Care
Age: 33
Location: Washington, DC
Joint Salary: $655,000 (My salary is $515,000 and my husband's is $120,000 — he is eligible for quarterly bonuses and I will be eligible for performance-based bonuses starting in summer 2020)
My Paycheck (biweekly): $12,178
My Husband's Paycheck (biweekly): $3,084
Gender Identity: Woman
Monthly Expenses
Property Taxes: $1,000 (We purchased our 4bd/4ba townhouse using money I inherited from my great grandparents, so we only have to pay property tax)
Utilities: $300-$400
Student Loans: $0 (My husband just finished paying off his law school loans. My parents covered my undergrad and med school tuition.)
Retirement: We each contribute $775 per paycheck to our individual 401(k). Additionally, we contribute $6,000 to additional tax-managed investment accounts. (This account is managed by our family office staff.)
Charitable Giving: $3,000 (given to the family office for directed giving.)
Dog Day Care: $1,400
Pet Insurance: $28
Health Insurance: Mine is covered through my employer, my husband pays $212 per month for his health plan
Vision and Dental: $38 for both of us through my company's health insurance
Insurance (Car/Home/Life): $480
Theatre Tickets: $690 annually for season tickets to an experimental theatre company in DC
Boat Club Dues: $750 annually
Work Parking: $115
Netflix: $13
Apple Music: $11
Coffee Bean Delivery: $40
Gym Membership: $352.12 for my husband and I (my husband expenses $50/month)
Credit Card Annual Fee: $550
Cleaning/Laundry Service: $800
Husband's Fraternity Alumni Dues: $50 annually
My Sorority Alumni Dues: $33

Weekly Total Spent: $8,391.29

[Anonymous]

They give a measly $3000 per year? Damn.

[Anonymous]

Anonymous wrote:They give a measly $3000 per year? Damn.

Oops. Sorry. That's per month.

[Anonymous]

Seems like they def have a townhouse in Georgetown and she probably works at GW hospital? connecting what she said in terms of transportation and where she grabbed lunch and grocery

[Anonymous]

She seems amazing, but I couldn't live that life (the crazy long work hours and super-regimented schedule). Surgeons are intense -- my cousin is one and she's also a marathoner and has two spectacular kids and is just generally a rock star.

That said, it's interesting how she clearly comes from money and is used to dealing with having a lot of money and knows how to outsource efficiently. It makes such a difference. Having many was so foreign to me, and both my DH and I come from working/middle class families (and our parents grew up legitimately poor, so no history of wealth at all). It's not just that she seems very confident in how they allocate their money and the choices they make. It's also the ease with which she outsources certain work without any guilt. That's something that is so hard when you don't come from money and it's always been hard for DH and I to figure out when we could "afford" to outsource something because we were raised to think those were things that only rich people did. We're actually middle class for DC (HHI of around 130), but have more financial leeway than our families ever did and sometimes feel like we make dumb choices or just do nothing because we don't know what to do.

I envy her wealth, but more than that, I envy how confidently she manages it.

[Anonymous]

I had no idea surgeons work such long hours - 6 am to after 6 pm; it's crazy. It's awesome that they give 3K/month to charity. I agree with the dog daycare, you can't leave the dogs alone at home for such a long time.

[Anonymous]

Agree, it is very helpful reading this. They clearly know how to best trade money for time and experience.

[Anonymous]

Anonymous wrote:I had no idea surgeons work such long hours - 6 am to after 6 pm; it's crazy. It's awesome that they give 3K/month to charity. I agree with the dog daycare, you can't leave the dogs alone at home for such a long time.

6 am to 6 pm is in no way crazy.

[Anonymous]

Why the hell are people with this income buying pet insurance?!

[Anonymous]

She has a friggin’ family office. That’s an indicator of massive family wealth. At least $20m in assets.

I mean she got enough money from GREAT grand-parents to buy a house free & clear. That means grandparents and her parents will have a lot more to pass on. Plus fully paid med school? That’s nuts.

It’s impressive that she pushed herself into surgery. She clearly didn’t need to do it.

The wealth likely dwarfs the annual $600K income.

[Anonymous]

I know there are many wealth family in DC, but this is still eye opening. Glad she took the time to show us lay people how that life is

[Anonymous]

"K. recently finished paying off his student debt from law school and I was upgraded to an attending salary, so we need to make some edits to our prenup"

damn that's real

[Anonymous]

It’s hilarious to me that the $13 for Netflix was itemized on there.