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[quote=Anonymous][quote=Anonymous][quote=Anonymous]OP, you can take the lower paying job and keep your mortgage. You will need to cut back on some spending and maybe some saving, especially in the short term, but it will be fine. It is really important not to kill yourself with work. Would the new job lower your expenses in any way (health care premiums, transportation benefit, other benefits, etc.)? Can you negotiate extra vacation to save money on summer camp when your kids are school aged? Or flex your schedule to start early and skip aftercare?

For reference, our HHI is $275k. We do not spend lavishly, but aren't super frugal either. While our mortgage is lower than yours ($3200), we also put $2500/month in 529s. This is important, but discretionary, and we'd cut it if needed. We spend $1000 per month on aftercare/camp. Could lower that by shifting our schedule if we absolutely needed to. We also have $1500-$2000 that we don't spend/month that ends up in discretionary investing, home projects, etc.

Look carefully at your spending, there may be a lot you can cut.
[/quote]

Thank you!  Do both of you contribute to 401ks? [/quote]

Yep - we both max 401ks. We take mostly driving vacations, which makes a big difference, and our (elementary-aged) kids do not do expensive activities. We'll do some bigger trips as they get older. We don't save a ton outside of 401ks and 529s, but I am satisfied that we'll be able to live well in retirement and largely fund college for 2 kids. We are happy to enjoy our lives, have flexible jobs, and spend time with our kids while they are young.[/quote]

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