Reply to At what point would a $6000 monthly mortgage make sense?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I really don't understand where everyone spends all their money. I'm the poster with the $6.5K mtg payment on a normal income and it is fine.  I pay about $3K/month to principal, which is damn nice. 
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I'm with you. We pay $7.3K a month in order to prepay the house before our kids go to college, and we are not at all considered rich by the DCUM's standards. And we have more than enough money left for everything else. I also don't understand what the high-income people are doing with their money. They are probably obsessed with saving $10-20M so their "rich" status can finally be approved by DCUM.[/quote]

I love that you're "not rich by DCUM standards."  :roll: Our household income after taxes is $5,200/month. WE aren't rich by DCUM standards by pretty well-off (90K salary, one SAHM parent). You have massively lost perspective if you can pay 7.3K/month and still have plenty of money leftover and you don't consider yourself rich (excuse me, rich by DCUM standards).

OP, I would have to take home 20K/month to be comfortable with a 6K/month mortgage. It's just risky business to spend more than 30% of your take-home on a mortgage. Our take home is $5,200/month and our mortgage is $1,350. It allows us to save a bit for retirement, a bit for college, take one decent vacation a year, give a bit to charity, pay our utilities, keep a 10K emergency fund (replenishing after emergency car and home repairs) and cover food and entertainment.[/quote]

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