Reply to High PITI (5k+) only, what are your stats?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We live in HCOL area and have decided to prioritize location/schools and our monthly mortgage is a lot higher than we'd prefer.

Ages: 39, 36
Kids: 5, 3
PITI: $6k
HHI: $475k
Retirement savings: $1.75 million

Our financial advisor tells us we're doing fine but I hate seeing that mortgage payment going out every month. I tell myself it's forced savings...

Curious to see stats for others in our situation.
[/quote]

How are your retirement savings 1.75m at your age and given the market conditions of the past year? Are you referring only to 401ks, or to multiple brokerage accounts? [/quote]

Probably family money or family gave them down payment for house. Such a typical DCUM post. “I have a trust fund and my wife’s parents gave us $500K when we got married. We feel poor because we live above our means, but we can do this because of my trust fund and my in-laws. These are my stats (omits context). What are yours?” [/quote]

I say this because we are similar ages and our HHI is higher than yours are our PITI is lower. It doesn’t seem feasible to pay for childcare, have that PITI, fully fund 529s (my guess), and have $1.75M in investments (likely more if that’s where you are at now and market conditions are what they are). Also, if you are willing to take on that PITI on your income my guess is you live above your means in other areas of your life. The only way you can do all this is through family money or by having an equity event and being in a single earner household where the other spouse does the childcare. [/quote]

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