Reply to Making $500k and not feeling wealthy in NW

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Reply to "Making $500k and not feeling wealthy in NW"

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[quote=Anonymous][quote=Anonymous]OP here. We didn't overpay for our house. Our mortgage is actually one of the more manageable expenses and we don't intend to move until kids are in college and by then (using DC price history) we should have seen a really nice appreciation. It's just that people see us and they think we're rich, marketers always contact us, ugh! And DH does dumb stuff sometimes like impulsively buying 2 new computers a laptop and a desktop (Macs) because "they were on sale". [/quote]

Okay well that's your problem - random consumption. While you may not have bought more house than you can afford, if you aren't left with 2-3k of wiggle room each month, then you're paying a lot for something or a combination of somethings. Your HHI is double ours, and I'm not sure what you'd have to spend to be maxed out each month. Let me guess:
4k in mortgage
5k in school tuition
1.5k food
2k retirement
2k 529s
$500 utilities
$200 gas & insurance
Random consumption: shopping, household help, etc = ?
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Total: 15k + random (or 182k a year plus randoms)

So if you're take home after taxes and insurance premiums is 60%, then you have an extra $118k/year (almost 10k/month) for random stuff. Where is that 10k going? Obviously I'm just pulling a lot of these out of thin air, but I tried to guess on the upper end of things, except for the mortgage since you said that's manageable. [/quote]

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