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[quote=Anonymous]On that income you’ll have to make choices. Yes, someone who is not on this board would cringe at that comment, but it’s true - especially in this area. You make $16,666 a month. With a 5% 401k contribution and assuming a 30% tax burden, you bring home about $11,000 a month. After you pay your mortgage, you have $7500 left over. Yes, you can live off that but with kids and being in NOVA it will require sacrifice and budgeting. Maybe $200 a month to the kids 529s, keep car expenses low. We just bought a Toyota Corolla for $25000 out the door. That’s a perfect car for a family with 2 kids. You’ll need to think along those lines to make your money go further. Since you have a $3500 mortgage, have you lived in your house for awhile? Do you have a lot of equity?[/quote]
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