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Money and Finances
Reply to "What HHI to feel comfortable with a family in a close-in city like Bethesda/Arlington/McLean?"
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[quote=Anonymous]We have a $900K mortgage on a house we bought 8 years ago. Our monthly mortgage is $6,500. We have a child in private HS and we saved/budgeted to send her to private undergrad and graduate schools. We also try to save at least $100K/yr for retirement with our $600K HHI. We are in our early fifties and plan to retire at mid-sixties or earlier. We bought our house when our HHI was $250K and things were very tight for several years. As our HHI grew, it got more comfortable. At around $400K was when most of our financial worries dissipated. We live comfortably but not extravagantly. In the areas OP highlighted, you need $300K-$400K to live comfortably. [/quote]
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