Reply to How much of your income are you able to save?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I make 90k and save $18k per year in my 401k, plus $6500 per year in savings, at least $2400 in college savings for the kids, $10k in Roth IRAs and at least $1500 in extra mortgage payments.  That adds up to more than $38k which is more than 40 percent of gross.

If I can do that with 2 kids and only one of us working and a sub $100k salary those of you with HHIs in the hundreds of thousands and less than 20 percent are doing something wrong.[/quote]

So you live on $52,000 a year with two kids???[/quote]

Minus taxes, yes.  Youngest is not quite one yet so doesn't cost much.  But it's pretty easy and we live well (eat out, go on vacation etc).  I find myself staggered that people spend such ludicrous amounts of money here.  I genuinely can't understand what you are spending it on (though our housing costs are low).[/quote]

How low are your housing costs?  They must be under $2k, which is already pretty low for DC area.  Otherwise, seems unlikely that you could clothe, feed, transport, etc., more than one kid and still "live well."  If you're able to do all that with a mortgage of more than $2k, please start another thread and reveal your secrets!![/quote]

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