Want to know from: * people living in HCOL areas (SF, NYC, Seattle etc) * particularly with a young kid (or two) When did you feel that your combined TC made you feel that “I think we make enough money at this point. Don’t need more work responsibilities/pressure, and we have all the comforts with what we earn”.
Yea I’m at 650k combined income and I feel poor as fuck. I live in the shittiest house in the block and still can’t afford to take a vacation.
When passive income > tc
I think it's not the salary, it's the total networth. After we hit 2m, we stopped thinking about money. Now we make 800k a year from work and > 200k from investments for a net of > 1m$ per year.
200k? How?
10% of 2m.
$300k is more than plenty in seattle.
These numbers seem ridiculously high anywhere else, but for a nice home you’re looking at 2M+ and then young kids, another 20-30k/yr in private school tuition.. you want to pull in at least 30k /mo after tax, 45k per tax and you’re already at 500k+ any extra savings you can invest or pay down the home.
You want a 2M+ house and private school??? Dont most people choose to live in a cheaper house in a bad school district so they can go to private school or they live in expensive houses in good school district.
I want both.