Reply to Support a family of 4 on $55k/year

Forum Index » Money and Finances

Reply to "Support a family of 4 on $55k/year"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote]We have all that except just one car and two metro stations within a mile on less than $90k a year. And also save about 20 percent of our income.[/quote]

Wow, that's terrific!  Just curious, do you have childcare expenses?[/quote]

No, my husband looks after our son full time and I work full time.  (Actually we have had some expenses for a co-op pre school but it's less than $200 a month).  We do have a relatively low mortgage and when I said we save 20 percent that was retirement, college and regular savings combined.  No debts.  I feel like we're pretty extravagant at times  (especially compared to when I was younger) so I can't imagine how people with $200k plus combined can find it tough![/quote]

Well, I'm no math genius but.... 90K is about 35K more a year that 55K isn't it?   After taxes, that can easily be $1,500 more a month.   At that income level an extra $1500/month is HUGE.

Yeah it is great to save 20% of your income, but I don't think it could be done on 55K a year.   This is the perspective of someone who was a SAHM when her DH was earning 70K a year, just one child, one bedroom apartment.  Doable, but TIGHT.[/quote]

You need to look at that statement in its original context.  It was in response to someone who said they lived well on $225k.[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics