Reply to What can I do on this HHI?

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[quote=Anonymous][quote=Anonymous]We have a 320K HHI (one is a fed salary so half of gross goes to pension and insurance etc).

Help me figure this out which of these can I reasonably expect to be able to do? Trying to get a reality check.

One international vacation 
One child in private school 
One child in daycare 
Max out 401K 
Max out 10K for 529 
Max out IRA 
Have a new Subaru car 
Go out to eat at restaurants 
Two stateside flights to visit family for holidays 
Cleaners once a month 
Organic groceries  [/quote]

Hmmm... [b]we do some of your list[/b] -
1. One international vacation 
2. Max out 401K 
3. Max out IRA 
4. Go out to eat at restaurants 
5. Organic groceries 
6. Cleaners come weekly.  Lawn mower guy comes every 2 weeks.  Mulch, pruning, weeding, planting, cleaning - three times a year.

[b]Then we have other costs that you do not have [/b]- 
1. Prepaid tuition for both kids for state colleges for undergrads (100K total)
2. Significant savings for future weddings of two kids (200K each)
3. Hosting large number of people (50-70) once a year (cost around $2-4K for caterers, bartender, server)
4. Saving for new cars for kids, graduate schools, seed money for teaching them to invest (20K each). 
5. Two trips to Asia solo to meet relatives.  Gifts for all of them. 
6. Hire tutors/coaches to come to home to teach kids.

Then [b]we do not have some costs like you have [/b] - private school, stateside visits to parents etc
1.  No stateside trips since parents live in Asia. 
2.  No new Subaru.  We drive our trusted Toyota. 
3.  Never paid for childcare.  I have been a SAHM for a long time.

[b]Lots of lucky breaks financially[/b] - 
1. Nice SFH in an inexpensive neighborhood. Mortgage could not be lower than what it is. 
2. No student debt
3. Parents paid for our wedding
4. Kids went to public magnets. No cost of private schools.
5. No pets.  
6. Driving our old Toyotas.

[/quote]

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