Anonymous
Post 07/25/2017 08:35     Subject: I Live Comfortably on Less than $70K After-Tax in DC Area
OP spends $250 a year, YEAR!, on vacations.
Sad life. That's not even a hotel room for one night.
Anonymous
Post 07/25/2017 08:35     Subject: Re:I Live Comfortably on Less than $70K After-Tax in DC Area
Anonymous wrote:Here are some other expenses I don't see listed that many people have:
- Student loans -- this is a HUGE killer for most people
- Gifts (maybe this comes out of entertainment/eating out, but our Christmas budget is at least $800)
- Life and/or Disability Insurance (assume you don't need it since you're single or your employer provides a small policy that is enough, but many married/parents need more life insurance)
- Gym Membership or other physical fitness expenses (maybe work provides, you don't work out, or you have a home routine with no cost)


- I transferred from CC, and won an 1/2 tuition academic scholarship to the four-year university. I also worked part-time. Parents made up the small difference (for which I am grateful).
- Yes, gifts come out of the entertainment line,
- Employer provides life/disability
- Great clubhouse at my condo community, with pool and work-out room. They give yoga classes there, too.
Anonymous
Post 07/25/2017 08:34     Subject: I Live Comfortably on Less than $70K After-Tax in DC Area
How much do you have in retirement, OP? Since you had to put it mostly on hold to save for your condo?
Anonymous
Post 07/25/2017 08:33     Subject: I Live Comfortably on Less than $70K After-Tax in DC Area
So you live in a $350k condo and make almost $100k (NET $70k). Yeah I see why it's doable. And when your job changes and you can't carpool and fuel costs triple?
Anonymous
Post 07/25/2017 08:33     Subject: I Live Comfortably on Less than $70K After-Tax in DC Area
Anonymous wrote:
Anonymous wrote:
Anonymous wrote:

And yes, I paid off my car loan years ago. (I just need one, since I'm single.) Plus, because I am in a 3-person carpool, I spend very little on gas.


What will you do when your car needs repair/replacement? I don't see a line item for saving to replace or repair.

I'm planning to take a Home Equity loan. Or, I could take from my regular savings, but I'd rather keep that invested.)


So once that day comes around, your annual expenses will go up by at least 5%. Just saying, you're leaving a lot out when you break it down monthly like this without a long-term view.
Anonymous
Post 07/25/2017 08:31     Subject: I Live Comfortably on Less than $70K After-Tax in DC Area
Anonymous wrote:
Anonymous wrote:What do you earn to get $70K net?

I earn a fair bit more, and my net is actually more. The point is that all I'm spending is $70k, including retirement savings. But if I have to guess, I'd think that's a salary of around $85k.


We make $230K and live on about $60K (not in DC), so I agree with your points. But honestly - the fact that you can't see that being single makes a HUGE difference is remarkable.
Anonymous
Post 07/25/2017 08:30     Subject: Re:I Live Comfortably on Less than $70K After-Tax in DC Area
OP, you're ridiculous- living on $70k post-tax should be easy for someone who doesn't have children. Heck I lived comfortably on a lot less here when I was single.

I still don't understand everyone else crying poor, though. We have a HHI of $200k with two kids and are still comfortable.
Anonymous
Post 07/25/2017 08:30     Subject: I Live Comfortably on Less than $70K After-Tax in DC Area
Anonymous wrote:
Anonymous wrote:The people screaming "YOU"D BE POOR IF YOU HAD KIDS!" are still wrong. The median HHI in DC is 75k, which by definition includes 2 children. Once again, it's really just a question of most people on this forum not wanting to live the way most people are actually living in the area.

Absolutely true. I know a guy with a SAH wife and a small baby, and he earns around $80k. They're at the beach right now, in a rental, for the week.


+1. This poster gets it.
Anonymous
Post 07/25/2017 08:29     Subject: I Live Comfortably on Less than $70K After-Tax in DC Area
Anonymous wrote:
Anonymous wrote:

And yes, I paid off my car loan years ago. (I just need one, since I'm single.) Plus, because I am in a 3-person carpool, I spend very little on gas.


What will you do when your car needs repair/replacement? I don't see a line item for saving to replace or repair.

I'm planning to take a Home Equity loan. Or, I could take from my regular savings, but I'd rather keep that invested.)
Anonymous
Post 07/25/2017 08:29     Subject: I Live Comfortably on Less than $70K After-Tax in DC Area
Anonymous wrote:WTF is all this crap about $300k being middle class and $80k being poor? I (single, no kids) live very comfortably on less than $70k (net). Here's my approximate spending:

$1650 PITI (3-bedroom, 1700 st condo in Fairfax County)*
325 condo fee
200 cable/phone/internet
150 electric
50 water
400 groceries/household stuff
150 gas/commuting. (3-person carpool)
800 medical (includes premium)

Fixed expenses: $3725

$600 Eating out/entertainment
150 Clothes (don't need much - have plenty)
50 Household repairs
200 Donations (annualized)
250 Vacations (annualized)

Discretionary expenses: $1250

Plus, savings toward retirement: $700

Total....$5675 per month ($68,100)
















Fail. Daycare alone would cost you at least 250-300/week (and that's being generous) in this area.
Anonymous
Post 07/25/2017 08:29     Subject: Re:I Live Comfortably on Less than $70K After-Tax in DC Area
Here are some other expenses I don't see listed that many people have:
- Student loans -- this is a HUGE killer for most people
- Gifts (maybe this comes out of entertainment/eating out, but our Christmas budget is at least $800)
- Life and/or Disability Insurance (assume you don't need it since you're single or your employer provides a small policy that is enough, but many married/parents need more life insurance)
- Gym Membership or other physical fitness expenses (maybe work provides, you don't work out, or you have a home routine with no cost)
Anonymous
Post 07/25/2017 08:28     Subject: I Live Comfortably on Less than $70K After-Tax in DC Area
Anonymous wrote:The people screaming "YOU"D BE POOR IF YOU HAD KIDS!" are still wrong. The median HHI in DC is 75k, which by definition includes 2 children. Once again, it's really just a question of most people on this forum not wanting to live the way most people are actually living in the area.


+100.

I understand, and share, the desire to spend more money to have a more comfortable life and the best opportunities for my children. I just don't understand why people don't realize that the extra 100 or 200k in spending is a notable upgrade in one's lifestyle and range of choices.
Anonymous
Post 07/25/2017 08:27     Subject: I Live Comfortably on Less than $70K After-Tax in DC Area
How on earth are you vacationing for $250 a year? I can't even get a plane ticket to visit my parents for less than $500 each, and there are 4 of us. A hotel is a minimum of $100 a night, and that's not even a vacation.

Kids are expensive. They need all new clothes each season for many years. Diapers and wipes are expensive. Childcare is expensive. It all adds up.
Anonymous
Post 07/25/2017 08:25     Subject: I Live Comfortably on Less than $70K After-Tax in DC Area
Anonymous wrote:What do you earn to get $70K net?

I earn a fair bit more, and my net is actually more. The point is that all I'm spending is $70k, including retirement savings. But if I have to guess, I'd think that's a salary of around $85k.
Anonymous
Post 07/25/2017 08:23     Subject: I Live Comfortably on Less than $70K After-Tax in DC Area
Anonymous wrote:

And yes, I paid off my car loan years ago. (I just need one, since I'm single.) Plus, because I am in a 3-person carpool, I spend very little on gas.


What will you do when your car needs repair/replacement? I don't see a line item for saving to replace or repair.