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

Forum Index » Money and Finances

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

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous]I also wonder if that take home is correct, though if you are a single earner maybe you pay less taxes than we do (but we are also putting more away in retirement than you are).  Our gross is 300k a year and net is about 14k a month.  We bought a 1.5 million dollar house but put more down than you are and spend 6k a month on our mortgage.  We have made some sacrifices in terms of vacations, etc. but have still been able to take vacations (more modest initially, but we feel a little more comfortable now) and don't feel too stretched.  However, we have much more retirement savings than you (yours seems very low) and we are saving for college, which you don't account for in your budget.  How old are you?  I agree with others that you are saving far too little for retirement (and college, too).  I think the $1500 you are budgeting for house/utilities seems reasonable based on our experience.

I would suggest figuring out your real net income, try to factor in more savings for retirement and some for college, and then see if the numbers work.  I also didn't see you budget for life insurance.  They may work for you (we have more child care expenses than you do) but it likely will be tight.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics