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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]We only make slightly more than you and we have 2 million liquid and another 500k in home equity.  How?

Monthly Expenses 
Mortgage - 15 year (no HELOC - we pay cash for home repairs/renovations): $4700
Two Luxury SUVs (one 11 year old SUV and 2 year old Honda Accord that we paid cash for): $0
Eating Out: $400
Entertainment $400
Clothes and other Miscellaneous $400
Utilities, Cable, Etc. $700 
Gardener, Tutor, Maid Service, etc. (we have none of these and do our own cleaning and yardwork) - $0
Groceries $600
Gas $150
Insurance and other similar Crap $1000 (Homewowners, Life, Disability, etc)

2 maxed out 401ks plus matches, 2 maxed out Roths (backdoor), plus taxable investments = around 100k a year invested/saved.

You are living a fancy lifestyle for your HHI and that's where you money is going.  Because you have done that it is likely you won't be able to get off the hamster wheel since you won't be able to save enough to ever pay for your lifestyle creep out of savings/investments and SS sure won't cover it.  We have chosen to live a slightly more frugal, yet comfortable life and will both be retired with a paid off house in our mid-50s.  Nothing wrong with what you are doing, but just realize that crying poor is kind of a bullshit excuse.  The real problem is you want to live like you are rich on a 300k HHI and something has to give in order to support that lifestyle so you have chosen not to save much.[/quote]

How many children do you have to only spend $600/month on groceries? Are you saving for college for them? Who watches them? [/quote]
PP here.  I was trying to back DD and DS out of it since the OP didn't include child expenses in his/her budget breakdown.  I matched category for category less kids so kind of guesstimated on the groceries, eating out entertainment, etc.[/quote]

So you didn't include the cost of feeding/clothing/schooling/caring for your kids? That's a bit disingenuous don't you think? I know that our food and entertainment budget exploded as our kids are graduating from the kids menu to the adult menu. Private school, college, the crazy costs of 4 season wardrobes for multiple kids and sports, vacations etc is crazy. I don't know how you present a budget yet back your kids out of it when (at least in our case) kids are probably the major expense. [/quote]

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