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Reply to "Expectant father - go back to high stress biglaw job?"
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[quote=Anonymous]300k can be tough in dc. Sorry. Both have student loans - let’s assume 2k per month. Rent in DC or close in DMV is 3k for a two bedroom in a safe area at minimum. Daycare is 3k a month for a new born at minimum. Food, diapers, formula for a family of 3 is 1k minimum. Commuting, incidentals, entertainment are another 1k minimum. Thats 11k at bare “things are fine” status. 300k is 150k after taxes and retirement. That leaves 150-132 =18k a year for travel or saving for a down payment. A house in the DMV in a save area without a wretched commute is 800k, to save a 20% down payment would take decades. At current rates taking out a mortgage would be 5k a month, which would eat into their savings/ability to save Go big law. Sorry. [/quote]
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