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[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]

So here’s a radical idea for DCUMland: buy closer in, but in a “less desirable” area. We are in Silver Spring. We bought 15 years ago, but our house would probably go for $700k or even less today. Kids have been fine in the “bad” schools here and our commutes are under an hour. We have so much money going into savings that we should be able to retire early at 56/58.[/quote]

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