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Reply to "What HHI is needed for this lifestyle in the area?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]1.5 mil house in a desirable zip code Private school for 2 kids 2 cars, one should be luxury: think bmv or Audi 1 internal trip per year; skiing trip in the winter for the whole family Fully funded 401k and IRAs Fully funded college funds for the kids 1 mil? [/quote] You don’t need $1m. This is us exactly, living in Vienna, and we do it on $500k. Slightly less travel spend, but we also have a nanny [/quote] We do it on $500k too. 1.5 million house plus $100k tuition plus all the rest. However, we are not wealth building beyond funding 401ks or putting $12k a month into a brokerage like an previous poster mentioned. Many high income people ($500k, 600k, 800k) people say "they can't afford it" but it's because they're saving really aggressively off the top. The "we can't afford it" means a lot of different things to different people. [/quote]
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