Reply to Dual income families, what is your HHI?

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Reply to "Dual income families, what is your HHI?"

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[quote=Anonymous][quote=Anonymous]We lived on $65K/year (my salary) for the 3 years my DH was in law school.  Maxed out retirement, traveled every year (internationally), saved at least $15K/year for down payment.  We shopped at WF and had a cheap, no frills apt with no cable, but lots of other entertainment.

I don't get people who need $200K to get by (though we make that now, we bank a LOT).  Our mortgage now is only a little more than our rent used to be.  Our DC costs us a little extra ($2000/month), but that's why we waited until we made more to have a kid, and we still save a ton.

Are all y'all living high on the hog?  What am I doing right/wrong here?[/quote]

Subtract $30K for maxing out retirement, that leaves you with $35K. You saved $15K for a downpayment? Now you're down to $20K. $20K/year = $1667/month. Let's assume rent at $800/month (cheap, no frills), that leaves you with about $800/month left for groceries, utilities, diapers, etc. And, oh yeah, I didn't bother to tax you, or add the $2k/month for the child, include college savings, an emergency fund, health insurance, life insurance, or school loans.

Darling, you think you are doing well, but you are either not saving for retirement or cutting somewhere else vitally important.

There is something wrong with this picture indeed.[/quote]

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