Reply to How much do you bring home each month? How much is your mortgage?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I am responsible for running the house on 14K.  14 K is after DH deducts for savings, retirement, life insurance,  investments and college fund etc.

After that I pay for every single thing. 3 K mortgage, 2 cars, tutors, lessons, insurance, bi-weekly maids, utilities, home improvements, groceries,  gifts, eating out, entertaining (we entertain quite a lot - usually 20 - 30 people at least once a month - dinner, booze etc).  We have 2 kids, they go to public school. We have great medical insurance. We do not have any pets. I only go to parlors for hair cut. I color my own hair and I do my own nails and beauty treatments.  I also save to pay for annual vacations - 10 K - 15 K.  [/quote]

3k seems like a small mortgage for someone who entertains 20-30 people regularly. How big is your house? Where is it? Did you buy a long time ago? How much do you save (retirement, college, investments)?[/quote]

Yes, we lucked out tremendously. Bought it 17 years ago, bottom of the market. In up county, MoCo.  3100 sf.   Not counting finished basement. Bought it for quarter million, it is now worth (after the crash) 1/2 million.  It went as high as 800 K at one time ...and people sold and moved. Many put that money for down payments and bought million and above dollar homes.

We save 60%. Saved 100% of my salary when I was working. Grandparents have bought prepaid MD tuition for both kids for 5 years each. We have saved additionally for medical school (kids do not know that). If my kids are smart they will not have student loans. I keep stressing that to them. Don't take student loans - go to state schools.  Start saving for your retirement from your very first paycheck. Max out your contribution at work. Live on 25% of salary if single. Invest in index fund.   Saving for retirement comes first, then a house, then kids college.[/quote]

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