Reply to What can I do on this HHI?

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[quote=Anonymous][quote=Anonymous]We have a 320K HHI (one is a fed salary so half of gross goes to pension and insurance etc).

Help me figure this out which of these can I reasonably expect to be able to do? Trying to get a reality check.

One international vacation 
One child in private school 
One child in daycare 
Max out 401K 
Max out 10K for 529 
Max out IRA 
Have a new Subaru car 
Go out to eat at restaurants 
Two stateside flights to visit family for holidays 
Cleaners once a month 
Organic groceries  [/quote]

I like personal finance so let's do the thing:

I plugged your info into ChatGPT 5 assuming married filing jointly, live in VA, and that the Fed made $120K and $60K of that went to insurance and pension contributions.

It spit out an annual net income of ~$159K or $13,250/month.

Now it's just a matter of what your other expenses look like - how much is your mortgage/taxes/insurance? How much is private school? Figure daycare is $2,000-2,500/month but temporary. Cars at $1,000/month if you're not saving up to pay cash? You could get that average number much lower if you drive them into the ground.

I like doing these exercises but we need more actual numbers to help sort it out.[/quote]

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