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

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I make in that range and so does DH so combined it's around $1m.

major expenses:
Mortgage 1 - $4000/mo including RE taxes and insurance, will be paid off in 5 more years, pay extra every month
Mortgage 2 - $3500/mo but we pay RE taxes and insurance separately. Pay $10k/month on this one to reduce principal.
College - $70k/year, 529 savings offsets much of it, kid will graduate soon
Retirement Savings in tax advantaged accounts - about $120k/year
Other savings/investments - about $200k/year
Renovation projects on one house or the other - usually $25k-50k.
Travel - $20-25k/year
Health insurance - $35-40k/year (high premiums and high deductible)[/quote]

Saving $320k a year...I have to admit that's awesome.  If only...

I'm guessing you clear $500k annually after taxes...that's impressive you're only spending $300k annually (so you're saving more than you spend annually...my guess is not many of us can say that).  I think a lot of us would be tempted to spend more.  How many children do you have?  Health insurance seems a lot![/quote]

Only 1 kid still "at home" (technically away at college but we still pay all the bills). We are now in our peak savings (and earnings) years so trying to save as much as possible. Insurance is self pay (and we are over 50, plus 2 kids are still on the plan) so that's why it's so high. Plus the high deductible means we are essentially paying out of pocket for all health care costs most of the year. [/quote]

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