Reply to Making $500k and not feeling wealthy in NW

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[quote=Anonymous][quote=Anonymous]

:roll:  :roll:  :roll:  :roll:  :roll:  :roll:  :roll:  :roll:

Let's say you made very little like 40k a year.

Then at age 32 you started making 350k a year, have two kids and need to buy a house.

You don't have time to save, if we tried to save for a downpayment on a decent house we wouldn't have it until the kids are moved out.

What don't you get.

This ain't detroit a house costs at least 1.5 million.[/quote]

You know what, this just makes you an eye-rolling moron.  If you were used to making 40K a year, then had 2 kids and started to make $350K, then you could increase your spending to $100K per year to accommodate those 2 children and still put close to $200K into savings.  After 2 years, you'd have close to $400K for a downpayment on a house.   If you make over $300K and cannot save enough money for a downpayment on a house before  your kids are 18, then you really need a financial planner because you have very poor money management skills.[/quote]

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