Reply to S/O American Dream. Would $500-750k HHI be enough for this lifestyle?

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Reply to "S/O American Dream. Would $500-750k HHI be enough for this lifestyle?"

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[quote=Anonymous][quote=Anonymous]I dont know, soubds similar to my life but we have less fancy version than you probably envision.

We make 400k and live in Arlington. We have a 4 bedroom house (but bought 14 years ago in a meh neighborhood, so spent 500k not 1.5 mil)..

We are spending a week at an all inclusive for spring break, going to europe in may, doing a beach week in summer. Then probably carribbean for Thanksgiving plus shorter trips to NYC and phoenix (so that is 4-5).

My kids go to sleep away camp (but I only have 2) and pretty much get the things they want. One kid does a competitive sport that is 6k a year. They do tutors and private coaching.

College can be paid 100% if in state.

We put 20% into retirement and have savings.  No debt except one car payment and mortgage.

I guess the big different is house payment. Ours is 2600. So we are able to do a lot after that. [/quote]

You probably are very frugal to afford that.  Living in VA is the best financial move: it’s a low tax state with low insurance costs and low utility costs. Transportation costs are also reasonable. Finally, there is not a culture of materialism. Which helps in ways you probably don’t realize.

For this ”fictional” life that OP has outlined it undoubtedly takes place in an expensive suburb where teens need cars and insurance costs are through the roof, where sports and other activities are expected, where college counselors are hired and summer programs are a must. They will see that 4 vacations are unlikely anyway due to the busy schedules of all the children! [/quote]

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