Reply to Anyone at $330K HHI have a mortgage that is $4900/month (37% of net pay / 17% of gross)?

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Reply to "Anyone at $330K HHI have a mortgage that is $4900/month (37% of net pay / 17% of gross)?"

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[quote=Anonymous]NP here. We're at $4300 for the mortgage with $380k HHI, close to a million in retirement/investment accounts, $75k in liquid savings/cash, $36k/year in childcare though that may rise if we get a nanny, and probably $40k across two 529 plans (kids are under 5). We are in our mid 30s and not sure we're done having kids. No debt aside from mortgage. We feel okay about our situation, but sometimes the size of the remaining balance makes me uncomfortable. The monthly payments are manageable, of course, but boy we have a lot to pay down still. The big difference between our situations is that I do NOT consider our jobs stable. One biglaw and one at a startup and both likely to change jobs within the next year or two, probably with a drop in salary.

The other thing I'll add is that I've found chipping away at the edges of our spending (bringing lunch to work, for example, or using FSA where possible) doesn't make any kind of a dent in things like the big ticket items do. Mortgage and childcare is where most of our money goes, so don't overestimate how much you'll be able to save by hanging around the house more.

Hope this helps. [/quote]

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