Reply to how the hades did you save a six figure deposit?!

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]It's tough...we were lucky in that in our late 20's before kids we made 400K combined.  We bought a row house for 819K and actually only had 10% to put down. We had PMI for a year then refinanced.  4 years later we sold it without broker fees to a neighbor for 899K so made money off that and then had a bonus from work.  Combined with the equity in the townhouse and the work bonus, we bought a 1.2 mil house.  Could never have saved 250K+ out right to buy our current house.  Was a combination of luck, high salaries, and an unexpected signing bonus before we had kids.  [/quote]

Am I reading this right that you had a 400k HHI for at least 5 years, but you don't think you could've saved $250k outright without appreciation and an unexpected bonus?  [/quote]

Yeah...we took a LOT of insanely amazing trips which now that we have a kid I do NOT regret!  :) [/quote]

No one's saying you should regret it, but you should recognize that yes, you actually could have saved that money.  Saying you could "never have saved $250k+ outright" on $400k HHI is not even remotely true.  "I could never save ... [because] we took a LOT of insanely amazing trips" is the most classically out-of-touch rich people reasoning I've seen on DCUM since the 'barely getting by on 500k' thread.  [/quote]

You're right...I should not have said never.  I should have said it would have taken a while.[b]  The point of my post was to say that it's hard to save a lot without getting lump sums of cash from somewhere in a short amount of time.[/b]  [/quote]

Well there are plenty of high earners who live paycheck to paycheck and don't save.  We know plenty of them and we used to be them.  They earn 350k plus with no kids and spend it all on graduate degrees, renting luxury apartments, luxury travel, dining out constantly and a lot of alcohol.

We finally woke up and have been able to save 150k plus on 400k.  Our friends probably think we are cheap and boring.  We think they are throwing away the opportunity to build wealth.

Making 400k is an opportunity most Americans will never have.  If you spend it all you're a fool.  
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