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

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[quote=Anonymous][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]

Right, so they are presumably including all their savings in “retirement” then. Even if they both averaged 35k in their 401s through 17 years of work (and I think this is generous- assuming they both maxed out, got generous employee matching, and got decent returns in the market in an average target date fund), theyd still be at under 1.1 million BEFORE you apply a haircut from recent market losses. It doesn’t add up that these are retirement numbers. To your point op must be including home equity or other brokerage/savings.[/quote]

To be fair, one or both could have employers that permit an in-plan mega backdoor Roth, so they could have been superfunding over the years.[/quote]

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