Reply to Is 250k a bad salary now for a man?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It is a wonderful salary. I could make this HHI work and meet all the goals for our family - SFH, foreign vacations, socializing, cars, tutors, ECs, cleaning lady, 2 kids college.

- SAHM[/quote]

Where do you live and how much is your mortgage payment? Here's a rough estimate of cost breakdowns for a family of two:

$250,000 Gross Income 
401(k) Deferral– $24,500
All Taxes (~23.7%)– $59,170
Net Take-Home Pay~$166,330
Annual Mortgage Payment (Assume a $600k mortgage @ 6.25%) -  $44,328
Annual College Savings (2 kids)– $30,000

Remaining Cash Flow~$92,002/yr (this would have to cover cars, food, ECs, cleaning lady, vacations, utilities, cell phones, insurance, cable, entertainment, eating out).  I couldn't do it, but admittedly, my kids are in expensive sports, and I like some creature comforts, like getting my hair professionally colored and cut, and going to pilates.  [/quote]

Don’t stop there! I’d LOVE to see where your 92k after housing and savings goes.  Are you getting your hair colored with actual gold?[/quote]

It’s so easy to spend money.  We make more than that and spend 60k for 2 kids in private school 10k per kid for summer camp … I could go on.

PP said her kids do travel sports - depending on the sport that’s easily over 20k, multiply that by number of kids an you can be broke even sending them to public school.[/quote]

I have three kids in travel sports and we don’t spend that much.

I agree, it’s incredibly easy to spend money, but it’s also incredibly unnecessary to *waste* money the way some of you do…[/quote]

Exactly. Imagine spending 20k per child on freaking [I]travel sports[/I] and thus concluding that you cannot possibly live on 250k a year.

This is not impressive or intelligent. Nor is rejecting an otherwise great potential partner because you don't feel they make enough for all three of your hypothetical future children to do travel lacrosse. This would be stupid.[/quote]

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