Anonymous
11/22/2022 13:56
Subject: Income for fancy SAHM
You should have just asked how stupid you have to be to throw that much money away on a private school instead of getting a better house or cars lol
Anonymous
11/22/2022 13:49
Subject: Re:Income for fancy SAHM
Anonymous wrote:We have close to this lifestyle for way less HHI, but we have a large net worth and don’t need to save as much yearly income.
This. OP, any inherited wealth? One of my colleagues - a lowly fed - has this lifestyle with three kids in expensive private [(3 kids x 12 yrs) x $50k/yr] and a very nice home. But Dad was worth a lot of money so colleague doesn’t have to make much.
Anonymous
11/22/2022 13:27
Subject: Income for fancy SAHM
Private school is the killer here.
Anonymous
11/22/2022 13:21
Subject: Income for fancy SAHM
$1.3m is a teardown in inner McLean now.Anonymous wrote:A $1.3m house close in is not going to be fancy. At all.
Anonymous
11/22/2022 12:43
Subject: Re:Income for fancy SAHM
We have close to this lifestyle for way less HHI, but we have a large net worth and don’t need to save as much yearly income.
Anonymous
11/22/2022 12:39
Subject: Income for fancy SAHM
Anonymous wrote:Anonymous wrote:The other thread sparked my curiosity. What income does a husband need to bring in if he wants the following life style for his wife as a sahm:
- mortgage on a 1.3 mil house in a close-in suburb
- wife wears expensive clothes
- high maintenance: expensive highlights, facials mani pedis, botox
- 2 nice cars
- kids in private school
- nanny
I have this life. 1.3 m house is not that fancy. It’s a normal house, not a mansion.
I don’t wear expensive clothes but I do a big shop twice a year and drop 2 to 3 k each time. But nothing branded.
Have all the other things listed. We started that at a HHI of ~700k and now have a HHI of 1m
You clearly live way under your means. You could have that entire lifestyle at $500K--maybe minus the nanny. I know because I do.
Add in the nanny at you could have it for $600k. No need for a million. I'm sure you save several hundred thousand per year in addition to 401Ks.
So your reply (as a super saver) is really not relevant to OP.
Anonymous
11/22/2022 12:36
Subject: Income for fancy SAHM
I have 2 kids in fancy DC privates and live in this world (although we are the poors---two feds).
I'd say an "entry level" house for the woman you describe is $2 million in the early 30s. $3-5llion by age 40.
I live in a 1.3 million dollar home at age 50 and those women would never live in my home.
I'd say an "entry level" house for the woman you describe is $2 million in the early 30s. $3-5llion by age 40.
I live in a 1.3 million dollar home at age 50 and those women would never live in my home.
Anonymous
11/22/2022 12:34
Subject: Income for fancy SAHM
Anonymous wrote:The other thread sparked my curiosity. What income does a husband need to bring in if he wants the following life style for his wife as a sahm:
- mortgage on a 1.3 mil house in a close-in suburb
- wife wears expensive clothes
- high maintenance: expensive highlights, facials mani pedis, botox
- 2 nice cars
- kids in private school
- nanny
I have this life. 1.3 m house is not that fancy. It’s a normal house, not a mansion.
I don’t wear expensive clothes but I do a big shop twice a year and drop 2 to 3 k each time. But nothing branded.
Have all the other things listed. We started that at a HHI of ~700k and now have a HHI of 1m
Anonymous
11/22/2022 12:29
Subject: Income for fancy SAHM
A $1.3m house close in is not going to be fancy. At all.
Anonymous
11/22/2022 12:28
Subject: Re:Income for fancy SAHM
The house is on the low end so that's a plus. Is the nanny full time or part time if the kids are in school all day?
My guess is that you need about $750k minimum for that:
PITI - $60k
2 schools - $100k
Nanny - $40k
car payments - $25k
travel - $25k
other life - $150k
Total - $400k after tax
My guess is that you need about $750k minimum for that:
PITI - $60k
2 schools - $100k
Nanny - $40k
car payments - $25k
travel - $25k
other life - $150k
Total - $400k after tax
Anonymous
11/22/2022 12:28
Subject: Income for fancy SAHM
Expensive clothes can mean anything. One $300 purse used for ten years or a new Birkin each year. Traveling to Paris and Italy once a year to get new clothes, or buying things at full price at Bloomingdales.
Anonymous
11/22/2022 12:27
Subject: Re:Income for fancy SAHM
I think net worth is as or more important for this question.
Anonymous
11/22/2022 12:26
Subject: Income for fancy SAHM
Anonymous wrote:I assume you're also including healthy savings, on track for retirement, good 529/college saving plans, right?
Op here. Definitely.
Anonymous
11/22/2022 12:26
Subject: Income for fancy SAHM
I assume you're also including healthy savings, on track for retirement, good 529/college saving plans, right?
Anonymous
11/22/2022 12:24
Subject: Income for fancy SAHM
The other thread sparked my curiosity. What income does a husband need to bring in if he wants the following life style for his wife as a sahm:
- mortgage on a 1.3 mil house in a close-in suburb
- wife wears expensive clothes
- high maintenance: expensive highlights, facials mani pedis, botox
- 2 nice cars
- kids in private school
- nanny
- mortgage on a 1.3 mil house in a close-in suburb
- wife wears expensive clothes
- high maintenance: expensive highlights, facials mani pedis, botox
- 2 nice cars
- kids in private school
- nanny