Reply to 200k HHI is just getting by Six-Figure Salary No Longer Means You're Rich 5k leftover see this chart

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Reply to "200k HHI is just getting by Six-Figure Salary No Longer Means You're Rich 5k leftover see this chart"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]That doesn't quite track since it has child care and only one spouse maxing out. Is this dual income or single? If it's single, there's no child care bill.

And also, $8,000 in vacations per year and still having nearly $6,000 left over is pretty comfy.

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So this is rich? Having 6k leftover a year? [/quote]

I'm pretty sure the "rich" part comes in where you have a $700,000 house and take two vacations a year for thousands of dollars each and pay $2,000 a month for childcare. Those things are discretionary, lovely, wonderful, desirable things to have. But if you bought a $400,000 townhouse further out, sent your kid to an in-home day care, and spent $1,000 for driving/camping vacations you'd have a heck of a lot more left at the end of the year and you'd probably feel rich because of that...and because the people in your neighborhood who you are now comparing yourself to are doing the same.[/quote]

My childcare for 1 infant in SF was $2800 a month (in a center that had a 14 month waitlist). I wish it were discretionary. I wish I could get a spot in an in home daycare - called many 10 months in advance, no spot. A $700K home gets you a long commute and maybe 1300sqf.

There are some things that can be trimmed from the budget (child lessons etc) but there are also expenses that are miscalculated. 401K is only for one spouse, the effective tax rate calculated is low, California has an insane state tax in addition to paying into a state disability fund etc. It does not take into account big one off expenses - buying furniture, a new roof, an illness with high medical bills. 
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