Reply to Washingtonians say $3 million = "wealthy", $720K = comfortable"

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[quote=Anonymous]Like one the PPs said, if you're making $300k and feel broke, you have a spending problem.  You can't live like you're rich, but you can be comfortable and secure.  We only make $270k, and we save/invest $70-80k per year, with 1 kid in DC.  How?  Let's compare budgets (yours is listed below and then I put mine in [b]bold[/b]).

Monthly Expenses 
 Mortgage (first and HELOC): $4300 ([b]$2600, no HELOC[/b])
 Two Luxury SUVs: $2000 ([b]$0.  We don't own a car, but I would never finance a car unless it had incredible terms (ie, 0% interest))[/b]
 Eating Out: $2500 ([b]$1000.  And I feel that's pretty lavish.  Can't imagine doubling it.[/b])
 Entertainment $1500  ([b]$1000.  This includes travel as you indicated yours does as well[/b])
 Clothes and other Miscellaneous $500 ([b]$500[/b])
 Utilities, Cable, Etc. $1000 ([b]$1000[/b])
 Gardener, Tutor, Maid Service, etc. $1200 ([b]$100[/b])
 Groceries $1000 ([b]$750[/b])
 Gas $500 ([b]$250. I include uber/taxis/metro here since we don't have a car[/b])
 Insurance and other similar crap $1000 (Homeowners, Life, Disability, etc) ([b]$500[/b])

That's about $7k less per month for us.  Though we do spend additional money that you didn't list (e.g., $1700/mo. on daycare, $1100/mo. on student loans, and $400/mo. to a 529 account).  But still, that means we're spending $4k/mo less than you are (which goes to savings above and beyond maxing 401(k) accounts). And I feel like we're living pretty comfortably.  We go to nice restaurants at least once every week!  We travel multiple times per year!  We live in a nice (if smallish) townhouse.

So, I know firsthand how well you can live in this area on ~$300k.  If you feel broke with that income, you have a spending issue and I'd suggest you tackle it early rather than late.
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