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throwaway0516

Re:$500k a Year yet Struggling? Let's Do a Double Take on Thursday May 16, 2019 @09:03PM (#19935136)
two kids..swimming, dance etc. They all add-up.
Re:$500k a Year yet Struggling? Let's Do a Double Take on Thursday May 16, 2019 @08:57PM (#19935109)
ya..usually $100K-$125K is the range of our savings. I don't it is really a huge amount of savings when earning over $500K.
Re:$500k a Year yet Struggling? Let's Do a Double Take on Thursday May 16, 2019 @04:53PM (#19933092)
Public schools are no good in SV, so either I have to spend $4500 as rent in a good school district or spend low in rent and send kids to private school. And $3000 is the cheapest you can get in a decent location in SV
Re:$500k a Year yet Struggling? Let's Do a Double Take on Thursday May 16, 2019 @04:28PM (#19932838)
We make a little over $500K and I would not say we are struggling day to day, but we won't have so much saved as people expect. We lead a modest life (live in an apt, drive a compact) and live in SV.

Monthly House rent is $3000, Kids schools is $2400, kids activities is $2000, groceries and eating out is $1500, travel expenses averaged is $1000, misc expenses (gas,utils,shopping,car maint) is $2000. We do not have any debt.

We pay over $160k in federal/state income taxes and save $38k in 401k, $15k in 529 accounts annually.

Most of these expenses are regular day to day expenses we can't cut down on to save more.

Re:$500k a Year yet Struggling? Let's Do a Double Take on Thursday May 16, 2019 @04:20PM (#19932738)
500k is pre-tax. The federal and state income taxes would be about $150k.