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Reply to "$500k is middle class in DC now"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous]My monthly expenses for a family of four, 1.5mn modest outside beltway NoVa house, two cars. Mortgage (PITI): 3,500 Utilities: 500 Cleaning and landscaping: 500 Daycare for kid no.2: 1000 Food: 2000 Kids activities for kid no.1: 1000 2 Car maintenance and gas: 500 529 saving: 1000 other expenses: 1000 Total: 9000 Our take home pay after maxing retirement, health insurance and group life insurance: 19,000 Monthly saving: 10,000 for vacations, house remodel, saving, Gross HHI 350k We are very fugal, but otherwise feel comfortable. If you can accept public school, 350k can get you there. [/quote] How is your take home $19k? At the same gross income, after maxing out just one 401k, we have about $16k. Did you owe any taxes?[/quote] PP here. Sorry our expenses are 11k instead of 9. My brain wasn’t working . One of us is World Bank so the salary is exempt from US income tax, hence the higher take home[/quote]
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