Reply to 1.6MM home- how much would you want to be making?

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[quote=Anonymous][quote=Anonymous]OP here- thanks very much for the comments, greatly appreciate the feedback.

My kids are 5 and 2 - one just started kindergarten (public school), and the other has some activities during the week (little gym, etc.)

Here is the math I'm doing (may be wrong/short-sighted, so any suggestions are appreciated):

[b]310K / [/b]12 = 25833 gross monthly
* .67 (for 33% tax) = [b]17300 net monthly income[/b]
- 7000 PITI (if I put down 28-30% instead of 20%)
- 1500 housing costs (utilities, house cleaning, yard work, etc.)
- 5500 all other expenses, an average over 12 months, includes all necessary and luxury expenses such as food/groceries/restaurants, shopping, clothes, travel, etc.
- 175 car insurance (2 cars)

= a bit above $3K left

Now a few notes:

1) 401K:  i'm currently contributing 6% of main-job income with 50% match (around 13K per year)

2) I fully expect both my main job as well as my side job to increase income over the next couple of years (possibly 50K more over the next 1-2 years)

3) DW may go back part-time in the future (she's a hygienist), after the youngest gets to kindergarten, probably can bring in 1.5K net monthly income

Thoughts?  Thanks again for the feedback/comments so far.
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We make 320k in base salaries (another 100k or so in bonuses) and bring home approx 14k a month.  Not 17.2k a month.  This is after maxing our 401k, health insurance etc. there's no way you'll only pay 33 percent tax rate with your income.

I can't imagine having a 7k mortgage payments your income. Our payment is 3.5k but we pay it like its a 15 year so we pay 5k.

Do you not want to furnish this home nicely, budget for repairs, buy a new car, go on vacation etc?  Also what about retirement?!?!?  You're only saving 13k for retirement but make 310k a year. See how ridiculous this is?   Are you going to rent out rooms in your house when you retire?  You'll need to envause you're going to be living on social security if you're only saving 13k a year.  
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