Reply to If you make 500-600k range and are married with kids

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]$500k

[b]PITI: $4900
Nanny: $4000[/b]
Sports & Activities (kids are mid-elementary school): $800
529s: $1500
[b]Investment: $1500[/b]
Max out 401ks (x2)[/quote]

This is my fear of getting a nanny or moving to a more expensive house.  Our salary is only 375k (bonus a lot more) and we save at least 5k per month after retirement.  I can’t imagine earning 500k and only being able to save 1500 a month!  The 401ks won’t be nearly enough to support you in retirement.  [/quote]

To out things in perspective - pp earns 41k a month pretax and can only find 1,500 to invest.  Wow.  [/quote]

[b]Pretax is interesting but not relevant at our tax level, especially with a two income hh.  We bring home about $17k a month.  Between investment, 401ks and 529s we save $72k a year.[/b]

We are both mid 40s and have $2.1 million in retirement, $300k in an investment account, $265k in 529s, $100k in an emergency fund and $600k in equity in our house.  Our only debt is our mortgage.  I’m comfortable where we are.[/quote]

I guess?   Most people on this board are dual income with a higher HHI.  Bringing home 17k a month and only saving $1.5 is kind of pathetic.

[u]Also not sure how at 500k you bring home only 17k per month.  We of course max out everything and at close to 400k we bring home 16k per month.[/u]  [/quote]

NP and that's confusing to me too.  We make $365k and bring home over $15k/month (and no pitter patter of little deductions around our house).

To be fair, that PP is saving $3k/month outside of retirement, not 1500.  It still seems crazy low to me (we save ~6k/month) but 529 savings counts too.[/quote]

Another NP. We have a 350k salary and take home is 15k per month. We do get a bonus and we save 100% of it. We spend every cent of our salary.[/quote]

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