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Money and Finances
Reply to "Life is Easy in NW DC on $300k, AMA"
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[quote=Anonymous][quote]It doesn't seem any different from living in 100k in a lower COL city. I could easily own the same sized property, drive older cars and send my kids to public school in Minneapolis on 100k. [/quote] What a silly statement. Say your total income and payroll tax burden in MSP is proportionally the same as OPs is here. Rounding down, you'd be paying around $20,000 in taxes, leaving you with $80,000. OP is contributing $36,000 to tax advantaged retirement accounts, and another $10,000 to 529 accounts. After deducting that, that, you're at $34,000 for the year, or less than $2850 per month. If you're PITI is half of OP's, you're down to $1350 per month. For everything. Yes, MSP is low COL, but it isn't free. I know the poster who initially spouted this nonsense (in an attempt to discredit OP's analysis) is unlikely to read this, but just in case - you're an idiot. [/quote]
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