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[quote=Anonymous][quote=Anonymous]What ages are you?
Net worth?
HHI?
# of kids?

Please share - curious - my sister thinks we are poor and it was dumb of me to quit. She is younger by 5 years and has much less but likes to criticize. I could have continued another 3-4 years or more but the politics and the gradually decreasing level of my staff (education, experience, communication, just overall) was demotivating.

Ages - 52, 51
NW - $3.7M (including house). Low per DCUM standards I know and HHI is even lower. 
HHI - $200k now (from $425k as I just quit last week after 25 years when I turned 51 due to some chronic health issues).
Kid -  12 year old (in private school since age 5.

House was purchased for $500k two decades ago and value hasn’t moved much.About $700k. We’ve done $200k worth of improvements. New everything. We paid off our mortgage 5 years ago.

I would like to upgrade because I think our area is getting worse. DH is ok with that but wants to not spend a penny more than what we get for this house. I think we could afford a small mortgage even with private for a couple more years till middle. Sure we won’t save much but that’s OK. The houses I am looking at are about $1.2M.

[/quote]

What kind of private are we talking? A 40k/yr private or a 18k/yr private? Have you fully funded your one kids college assuming they will go to an expensive private or OOS?

With todays rates and assuming you put all 700k in equity down you are looking at a 4100/mo mortgage. Let’s assume you are in a mid private school at 30k/yr. The school and mortgage alone chew up 79k of your gross income. Let’s assume your DH is still maxing 401k, gross income is 180k. This leaves you $5400/mo assuming you have No health insurance expenses whatsoever.

I think buying this house on that income is dumb. Especially when you have one paid off.[/quote]

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