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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I would reconsider this entire plan.  Why not just have your DW downshift to a less stressful job and see what that looks like?  Let's say she gets something making $110K you're still collectively pulling in $250K which should be plenty of money.  [/quote]

This would require selling house, moving and changing school for our 3 kids

And DW does not want this because she is worried about paying for college so dropping income is untenable without severe need (medical, etc). [/quote]

I don’t understand why this means you have to sell your home. Unless you are living that paycheck to paycheck in which case you have a spending problem.

[/quote]

+1.  Unless there's some kind of special needs situation if reducing your HHI to $250K requires you to sell your home you have a spending problem so maybe focus on that first.[/quote]

We currently make $380k but most goes to mortgage ($6k). We bought close in, small old house but a proper SFH inside beltway with good schools.

Dropping to $250k is dropping gross income by 1/3 — do most people live on 2/3 of their income just to have option to drop the other 1/3??[/quote]

Yes, most people that make what you make can drop their income by 1/3 and be fine.  At your income level you should be saving a ton of money not spending most of it. [/quote]

So they live in Burke and commute 1 hr+?

We bought a $1.2M house inside the beltway; anything cheaper was literally falling apart and this is a small colonial updates in the 90s.

If we drop to $250k, half our take home would go to the mortgage — that is not sustainable.

I really want to know the numbers where working parents earning $300k live with small mortgages?

I’m fine moving but it’s what we’ll need to do to drop that much. [/quote]

You’re living beyond your means. [/quote]

So anyone making $300k has a house that cost less than $900k?  So you all live outside the beltway or in townhouses?  PP lives in an exurb, which means we would lose 12 hours a week each just commuting.

I can’t believe people making $300+ choose such soul sucking commutes?  Sure TODAY for some telework is an option (but is not for our jobs). And when we bought telework was not a thing. [/quote]
450k here and we have soul sucking commute and live in a dumpster 700k house that’s older than my grandma.
I mean we tried for three years, every single 900-1.2mm house in the whole $&@ Fairfax would have 20 bids…
[/quote]

Do you have a nanny or something? We are unsure how to make it work when basically we will be absent from the kids lives for 20 more hours a week (2 adults with 12 hr week commutes). Are you hours flexible or you can telework some in evening and best rush hour?[/quote]

I work 11 hours a day in office. DH works about 9 hr at home. He will be around when the kids walk back from bus stop.
We have a babysitter that arrives 5 min after bus arrival and she handles extra curriculum and homework. She leaves around 6:30.

[/quote]

So you have a 100% remote parent.  Our careers don’t support that.  That’s why we had to live closer in.

I’m assuming at your income and situation you plan to retire early. Not a bad plan.

In theory we considered the expensive house forced savings that also saved us time, but it does make downshifting more complicated.

Surprised all these high earners live so far away, why is there so much demand for inner houses?[/quote]

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