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Reply to "What income is needed to live the american dream - close in DC area?"
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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]$250k[/quote] So PG county?[/quote] Life in PG is pretty great. [/quote] This thread is so funny to me. I live in pg county with a lower hhi and seem to be much happier and better quality of life than most of the pp on this thread. That includes saving for retirement, kids in private schools, funded 529, yearly vacations, summer camps etc. I’m not sure why dcum thinks you need to live in moco or nova to live the American dream. Oh.. we can also be in downtown dc in 35 minutes. [/quote] :shock: Tell me your secrets. Not to happiness, to a budget breakdown that supports all this. [/quote] The above wasn’t me but we bought our house in pg county for 300k in 2017 with a 4 percent interest rate at the time. Our initial piti was like $1500 a month. The house is probably worth 450 now and with higher interest rates/property taxes sometime today would probably be paying $2500 or so. Housing: $2500 Catholic schools plus after care: 1750 for two elementary kids (if Catholic, $2050 if not). Food: $1500 Clothing: $150 529s: $1000 401ks: $2000 Vacations: $500 That’s all about $112k/year. As another 25k for camps and other stuff, taxes and you’re at $150-175. That’s plenty doable for a two family earner. Includes solid retirement savings and saving for college. You’re not on easy street but you’re living a pretty good life. [/quote]
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