Reply to Afford $1.8M on 300K?

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[quote=Anonymous][quote=Anonymous]Op here. I'm grateful that my question has spurred so much conversation.  My takeaway is the $9K PITI won't allow us to have a buffer for huge unexpected purchases that we've been lucky to avoid these last few years.

I'd like to address some of the recurring themes:

- On 300(ish) K gross, we pay about: 40K for 401K, 65K for federal+state+fica taxes, 10K for HSA + insurance = about 115K total. Even if we made exactly 300K, that still leaves 185/12 = 15.5K per month.   I don't see why my estimate of "just under $16K" is incredible.  Perhaps other folks are withholding too much? or not itemizing?

- As discussed in a previous post, we spend about $6K per month outside PITI and utilities.  That's $72K per year - more than what most households' gross income. I don't see why our spending habits are unbelievable.  I would say that our lifestyle is similar to when we made <$200K... so our lifestyle has not crept up with our income.

- as for why we "need" a 4000sqft house - we need offices. We are both WFH for the foreseeable future, and our children are at an age where they need their own computers, and we don't want computers in their bedrooms, and no one wants to share an office. So ideally we need 4 more rooms to have as offices. I'm tired of zooming on the kitchen table.

- there are separate discussions about funding your kids' colleges that deserve their own thread. I might ask those parents who are giving an 18yo $200K and tell them to choose their lifetime career to reconsider. I know I would rather have my kids have some skin in the game when they make their choices about college and major. Then maybe they might be surprised with a $200K loan payoff or down payment gift after they graduate. Who knows?
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Each child needs their own office? WTF[/quote]

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