Reply to How does your family survive making under 200k hhi

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My husband makes $160k and I stay at home with two small kids. These threads always surprise me because at $160k we do pretty darn good! Rent a townhouse for $2300/month, aggressively paying off both cars so we spend $1000/month on that, $131/month insurance for both cars. $280/month for preschool, around $200/month for power and gas, $400 for cable/internet/cell phones. We have a house in another state but the mortgage is covered by a renter so we don't make money on that but we aren't in the red either (this year at least). In a normal 2 paycheck month we net around $8500 and very very rarely do we feel pinched unless a few major expenses come up at once (property taxes, new tires for cars, medical bills, things like that). I mean we aren't wealthy by any means but I feel we do much better than "survive."[/quote]

You don't own, you don't save for college for the kids, and what are you doing for yourself as a SAHM for retirement?  [b]Households with income totalling less than $200K, with kids, are almost always way short on house equity, retirement and college savings[/b].  [/quote]

Citation please.

Our HHI is $180K.

We have about $700K equity in our house and less than $100K to pay on the mortgage.

Retirement accounts total $1.5M.  We are 50yo.

College savings total $250K for two kids ages 15 and 12.

We are not "way short."  Not by a long shot.[/quote]

Wow, very impressive!  Good for you.[/quote]

Thank you.  We are aggressive savers and planners.

Anyone who uses "$200K" and "survive" in the same sentence is clueless.  With a HHI of $180K, we consider ourselves rich.[/quote]

But you're at a different stage in life.  You bought your house when before the bubble, when gas was cheaper, when economy was better, and when families were able to live on one income.  Try starting out with 2 kids in daycare and paying for a house now on 180k.  [/quote]

bingo[/quote]

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