450k
8600PITI 3.7 rate on 1.5m me,,.
Au pair ..1400
Car 799
Public schools in the best area
Food utility 1000
Rest goes to savings

GROSS = $360k
Bonus = $20k annual

Mortgage (PITI) = $5700
Extra Monthly Mortgage Payment = $1000
529 savings = $500 each kid (2 kids)
401k savings = $3000 Pre-tax into 401k savings plans (2 Paychecks)
Expenses = $3500 per month average
Monthly cash into Savings = $4500

No car payments

Anonymous wrote:I’m not sure why my post is getting so much attention, but we are paid biweekly and I forgot the extra payments go to our mortgage so that could be considered savings.

As I mentioned, we are comfortable where we are. No debt and healthy retirement funds and 529 accounts. One of us also has a small gov’t pension.

I think there are a lot of fake numbers posted on this thread. I posted very similar numbers to yours. We might save more in the future, but we’ve been spending on renovations for a couple of years.

Anonymous wrote:I make in that range and so does DH so combined it's around $1m.

major expenses:
Mortgage 1 - $4000/mo including RE taxes and insurance, will be paid off in 5 more years, pay extra every month
Mortgage 2 - $3500/mo but we pay RE taxes and insurance separately. Pay $10k/month on this one to reduce principal.
College - $70k/year, 529 savings offsets much of it, kid will graduate soon
Retirement Savings in tax advantaged accounts - about $120k/year
Other savings/investments - about $200k/year
Renovation projects on one house or the other - usually $25k-50k.
Travel - $20-25k/year
Health insurance - $35-40k/year (high premiums and high deductible)

Saving $320k a year...I have to admit that's awesome. If only...

I'm guessing you clear $500k annually after taxes...that's impressive you're only spending $300k annually (so you're saving more than you spend annually...my guess is not many of us can say that). I think a lot of us would be tempted to spend more. How many children do you have? Health insurance seems a lot!

I make in that range and so does DH so combined it's around $1m.

major expenses:
Mortgage 1 - $4000/mo including RE taxes and insurance, will be paid off in 5 more years, pay extra every month
Mortgage 2 - $3500/mo but we pay RE taxes and insurance separately. Pay $10k/month on this one to reduce principal.
College - $70k/year, 529 savings offsets much of it, kid will graduate soon
Retirement Savings in tax advantaged accounts - about $120k/year
Other savings/investments - about $200k/year
Renovation projects on one house or the other - usually $25k-50k.
Travel - $20-25k/year
Health insurance - $35-40k/year (high premiums and high deductible)

We've averaged $500k-$600k over the last 17 years with two and now one income. Currently, with 3 teenagers, and a declining income (just under $400k for the first time in many years), we spend about as much as we make. I think of things more on a yearly basis.

Private Schools/college 100,000+ per year but college is entirely funded out of a 529 plan.
PITI: $36,000
Visa Bill: $100,000 per year paid off in full. Everything possible goes on the Visa.
Utilities/Cell phones: $10,000 a year
Club: $12,000 per year
Charitable Giving: $20-25k per year
Landscaping & Cleaning: $12,000 per year
Car insurance for four cars, life insurance, umbrella insurance $6,000k

Those are the biggest items. Net worth is in the $7 million range but it is very odd from going from savers to spenders. As soon as the kids are through school, we'll right our ship again but we aren't going to change the biggest obvious luxury (schools) with kids in late high school/college.

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]$500k

[b]PITI: $4900
Nanny: $4000[/b]
Sports & Activities (kids are mid-elementary school): $800
529s: $1500
[b]Investment: $1500[/b]
Max out 401ks (x2)[/quote]

This is my fear of getting a nanny or moving to a more expensive house. Our salary is only 375k (bonus a lot more) and we save at least 5k per month after retirement. I can’t imagine earning 500k and only being able to save 1500 a month! The 401ks won’t be nearly enough to support you in retirement. [/quote]

To out things in perspective - pp earns 41k a month pretax and can only find 1,500 to invest. Wow. [/quote]

[b]Pretax is interesting but not relevant at our tax level, especially with a two income hh. We bring home about $17k a month. Between investment, 401ks and 529s we save $72k a year.[/b]

We are both mid 40s and have $2.1 million in retirement, $300k in an investment account, $265k in 529s, $100k in an emergency fund and $600k in equity in our house. Our only debt is our mortgage. I’m comfortable where we are.[/quote]

I guess? Most people on this board are dual income with a higher HHI. Bringing home 17k a month and only saving $1.5 is kind of pathetic.

Also not sure how at 500k you bring home only 17k per month. We of course max out everything and at close to 400k we bring home 16k per month. [/quote]

Omg who gives a shit what they’re doing? We make three times what you do, and I’m sure we save more than you, but I don’t care what other people save. You are pathetic for even posting this

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Mortgage - $6600
Daycare (2 Kids) - $3500
Nanny - $6500

Those are the largest monthly expenses, but of course there are many others...waiting until all 3 kids age out of daycare.

You pay your nanny $78K/yr?

Yes, $25/hr for 55 hours a week plus insurance. It's a lot but the going rate for professional nannies . She cares for a baby and then shuttles 2 kids under 5 to activities, does the laundry, prepares dinner, etc. definitely a luxury but it allows us both to work and spend more time with the kids.

Why in the world do you have 2 kids in daycare on top of that??? We too had a nanny (not for $25/he either!) and sent our kids to a PT preschool 3 days a week before they started K. Despite that my 2nd grader is reading at a 4th grade level and my 6th grader is in AAP, fluent in German, and taking Algebra 1. Why in they neck are you warehousing your older children in a institution when you have options?

What's AAP?

Anonymous wrote:I’m not sure why my post is getting so much attention, but we are paid biweekly and I forgot the extra payments go to our mortgage so that could be considered savings.

As I mentioned, we are comfortable where we are. No debt and healthy retirement funds and 529 accounts. One of us also has a small gov’t pension.

I wouldn't worry about it. Different people have different priorities and approach financial questions differently. Within reason, that's ok! It sounds like you are doing what's working for you, and you're obviously doing just fine. Ignore the haters, many of whom are just jealous of your high salary.

I’m not sure why my post is getting so much attention, but we are paid biweekly and I forgot the extra payments go to our mortgage so that could be considered savings.

As I mentioned, we are comfortable where we are. No debt and healthy retirement funds and 529 accounts. One of us also has a small gov’t pension.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Mortgage - $6600
Daycare (2 Kids) - $3500
Nanny - $6500

Those are the largest monthly expenses, but of course there are many others...waiting until all 3 kids age out of daycare.

You pay your nanny $78K/yr?

Yes, $25/hr for 55 hours a week plus insurance. It's a lot but the going rate for professional nannies . She cares for a baby and then shuttles 2 kids under 5 to activities, does the laundry, prepares dinner, etc. definitely a luxury but it allows us both to work and spend more time with the kids.

Why in the world do you have 2 kids in daycare on top of that??? We too had a nanny (not for $25/he either!) and sent our kids to a PT preschool 3 days a week before they started K. Despite that my 2nd grader is reading at a 4th grade level and my 6th grader is in AAP, fluent in German, and taking Algebra 1. Why in they neck are you warehousing your older children in a institution when you have options?

Obviously, i don't think i'm 'warehousing' my kinds in an 'institution'. They're in a school they really enjoy and we think it's good for them. Are we approaching things in a way to minimize our spend - no we're not - but we think this is a good set-up for us and we're fortunate to be able to do it.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$500k

PITI: $4900
Nanny: $4000
Sports & Activities (kids are mid-elementary school): $800
529s: $1500
Investment: $1500
Max out 401ks (x2)

This is my fear of getting a nanny or moving to a more expensive house. Our salary is only 375k (bonus a lot more) and we save at least 5k per month after retirement. I can’t imagine earning 500k and only being able to save 1500 a month! The 401ks won’t be nearly enough to support you in retirement.

To out things in perspective - pp earns 41k a month pretax and can only find 1,500 to invest. Wow.

Pretax is interesting but not relevant at our tax level, especially with a two income hh. We bring home about $17k a month. Between investment, 401ks and 529s we save $72k a year.

We are both mid 40s and have $2.1 million in retirement, $300k in an investment account, $265k in 529s, $100k in an emergency fund and $600k in equity in our house. Our only debt is our mortgage. I’m comfortable where we are.

I guess? Most people on this board are dual income with a higher HHI. Bringing home 17k a month and only saving $1.5 is kind of pathetic.

Also not sure how at 500k you bring home only 17k per month. We of course max out everything and at close to 400k we bring home 16k per month.

NP and that's confusing to me too. We make $365k and bring home over $15k/month (and no pitter patter of little deductions around our house).

To be fair, that PP is saving $3k/month outside of retirement, not 1500. It still seems crazy low to me (we save ~6k/month) but 529 savings counts too.

Another NP. We have a 350k salary and take home is 15k per month. We do get a bonus and we save 100% of it. We spend every cent of our salary.

It all depends on how old you are and how long you've been earning that kind of money. At 35-40, we put a big priority on not spending all our free time doing chores and making sure we had really good child care. At 50, the kid is off to college and we have a lot more time. More importantly, after a decade of savings, the investment account is pretty big and has soared since the 2008 crash so investment income now generates big returns.

On the mortgage question, we think of it as leverage for an appreciating asset. We could pay it off today, but it would mean that we had a much larger share of our money invested in illiquid real estate rather than a diversified liquid portfolio.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:$500k

PITI: $4900
Nanny: $4000
Sports & Activities (kids are mid-elementary school): $800
529s: $1500
Investment: $1500
Max out 401ks (x2)

This is my fear of getting a nanny or moving to a more expensive house. Our salary is only 375k (bonus a lot more) and we save at least 5k per month after retirement. I can’t imagine earning 500k and only being able to save 1500 a month! The 401ks won’t be nearly enough to support you in retirement.

To out things in perspective - pp earns 41k a month pretax and can only find 1,500 to invest. Wow.

Pretax is interesting but not relevant at our tax level, especially with a two income hh. We bring home about $17k a month. Between investment, 401ks and 529s we save $72k a year.

We are both mid 40s and have $2.1 million in retirement, $300k in an investment account, $265k in 529s, $100k in an emergency fund and $600k in equity in our house. Our only debt is our mortgage. I’m comfortable where we are.

I guess? Most people on this board are dual income with a higher HHI. Bringing home 17k a month and only saving $1.5 is kind of pathetic.

Also not sure how at 500k you bring home only 17k per month. We of course max out everything and at close to 400k we bring home 16k per month.

NP and that's confusing to me too. We make $365k and bring home over $15k/month (and no pitter patter of little deductions around our house).

To be fair, that PP is saving $3k/month outside of retirement, not 1500. It still seems crazy low to me (we save ~6k/month) but 529 savings counts too.

Ok, then we’re pathetic. We clearly have different definitions of “saving”. As I said, financially we are where we want to be so no worries on our end.