Reply to NYC law partner w/ kids: "$850K gross is not enough to live on"

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Reply to "NYC law partner w/ kids: "$850K gross is not enough to live on""

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[quote=Anonymous]I don't think people realize how much money it takes to live comfortably and I get that comfortably is relative.  I totally get the Reddit attorney.

I often say it's hard to live on a $350k HHI in Del Ray with 2 teens.  It truly is.  You're in private school full pay with 2 kids who also have sports/activities.  If you have a boy who also drives, the insurance kicks in + another car.  You have a couple times of the year to do holidays that is more than a beach vacation - yes that is part of living comfortably or AKA without losing your mind and actually enjoying your life - and then you have your mortgage, fixed costs.

Food is insane - it's like $20 for a lunch sandwich in Del Ray by the way and groceries aren't cheap - teens eat a ton!  So parents work and dining out is again, required sometimes because we do not want to lose our minds cooking post work every damn day - that is easily $100 dining out or $80 for take out from a restaurant.  Even at 5 Guys it's going to be about that much if the kids order a milkshake with their burger.  This is all not including fixed costs, savings, emergency fund, etc.  It's just a lot of money when you added it all up.

Living life not spending anything is totally unrealistic.  Maybe you can do that without kids but once you have the kids, forget about it.  It's just not feasible to suggest every vacation you drive and you cook every day of the week except for once a month.  If you don't want to be stuck in traffic, want a quality public school neighborhood, want to live comfortably, again, $350k/yr HHI is about what you really have to be at and that's NOT living large.  That's all with the kids mow the lawn, we have 1 car payment and do 2 vacations per year.  It's really not a big life we have.. so sorry to burst your bubble anyone who says we are richer than gods.

It's really hard to know someone's financials unless you know their family.  If you have a kid with learning disabilities or paying out of pocket for therapy, even $600k HHI annually with 3 kids is not  a promise of the potential of living large.  It totally depends on that family's circumstances.  [/quote]

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