Reply to Dual income families, what is your HHI?

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[quote=Anonymous][quote=Anonymous][quote]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]

actually I would love to know! what was your rent? Did you have/pay for health insurance/car payments/transportation? I'm figuring after tax income is 50k??, down  30k after your savings for house/retirement. THen you have rent--another 15k?. take out 2k for your international trip (which is low for 2 people, my last trip to europe the plane ticket was 980). and that is about 75.00/week for everything else: food, entertainment, utilities, necessities, transportation, copays, etc.[/quote]

Medical is paid for by my employer (one of the few good things about nonprofits!).  We both walked, (me to work, him to school), rent was $800/month for an English basement, so quite a bit under your estimate ("cheap and no frills"!).  International trips are usually to visit friends and relatives on the continent/Asia, so we only paid for plane tix (yay!), and always had a blast doing non-touristy, authentic stuff while there.  We do have a car (paid off, bought with cash before DH went back to school), but hardly used it at the time.  Both healthy and young, no medical expenses (100% covered for most visits, though, again, thanks non-profit!), but we could always rely on the downpayment fund if there had been an emergency in those three years.  Remember, retirement funding is pre-tax, so it reduces tax basis, so you can't subtract it after tax.  DH being in school allowed us to take advantage of the LL credit, too.

I would have to pull up our financial program data for those years to give you a more precise picture, but yeah, doable and I have a lot of nostalgia for those years![/quote]

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