Reply to Dual income families, what is your HHI?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote]FWIW, I make $83,000, a nurse, and am 49 years old. One kid. Public School. Hubby makes $125,000 same age..Federal.

Do any of these high earners ever see their children??? Ever?

No one we cannot afford Bethesda. [/quote]

Clearly you haven't looked hard at the market in Bethesda lately.  We have an HHI of 150K year with two in daycare, and we feel like we can afford Bethesda.  Not the biggest grandest house in Bethesda, but there's home out there in the 650K range which would be completely reasonable on your HHI.[/quote]

Buying a 650k house on a HHI of 208K?  We make 100k more than that and the is no way we'd take on a mortgage for 520K (assuming 20% down) at that income level.  Frankly, i would not take on a mortgage we could not sustain on ONE income.  That would be a horrible feeling to have to have 2 incomes to pay my mortgage, especially in today's uncertain economy.[/quote]

We make $225K ($18.5K/mo) and bought at $650K house with 20% down. It is totally doable. Our monthly PITI is about $3300 (about 18% of income). We save $800 for college after maxing out our 401Ks and have two kids in daycare ($30K). We bought our car with cash and mostly eat at home, but we are able to take two vacations/year, shop at WFs, etc. What are you spending your $$$ on that you can't afford $3300/month for housing/rent?

[/quote]

Again, the prior poster is correct, it depends on what camp you are in.  I can easily afford that mortgage at my 300K income (mine is just a bit lower and where I live the PITI on the same house would be higher, because of ever increasing taxes); however, I could not imagine having to sustain 2 incomes to pay my bills and keep a roof over my head without dipping into emergency savings.

I know we all have our vices and what we like to spend our money on, and I'm just as guilty of that as the next person.  My vices are the inside of my home and vacations.  I've always had the travel bug and indulge in 2 nice trips a year.[/quote]

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