Reply to Afford $1.8M on 300K?

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Reply to "Afford $1.8M on 300K?"

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[quote=Anonymous]Everything gets more expensive as your kids get older. Plus, you will need to furnish that big house and you won’t want to furnish a $2 million house at Ikea. Just bc you have the extra $6,000 per month doesn’t mean you have to spend it. And there are certainly other options between a savings account and a new house you likely can’t afford. We make over $500,000 and I would never consider a house in that price range. When we were younger and made less, we coveted a larger, flashier house. Now that we are older and make more, we realize that the big house isn’t as important. The extra cash gives us flexibility - which is the most important thing. If one of us wants to cut back (bc of illness or burnout or whatever reason), we can pay our expenses on one income or savings or our non-retirement investments. We have also put money into our smaller house to make it exactly how we want it. It will be paid off in 6 or 7 years and that will give us peace of mind as we get to thinking about retirement. Again, I’m at a different stage than you but I would be a nervous wreck with that kind of liability.[/quote]

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