Oct 6, 2022
11:08:31am
11:08:31am
You are the one out of touch with reality. Do the math. It doesn’t work.
Total Monthly Income - Roughly $7,000 (after taxes)
Retirement - $417 (if only contributing 5% pre-tax)
Tithing - $700
Mortgage and HOA for a low-end townhome - $1400
Utilities - $200
Gas - $300 (assuming a commute)
Food - $600 (this is nearly impossible right now if you have kids)
Daycare for two kids - $1500 (assuming you are both working to get to 100k and find childcare this cheap)
Clothing for kids - $300 (assuming your kids grow)
Savings - $200
Phone bills - $250
Insurance for house and cars - $200
This is already up to about $6k in expenses, and I’m tracking on the low end with barely any savings or retirement, no car payment, and almost no extra expenses. Most months you will end up with that extra thousand spent. There is almost no wiggle room in this budget. If one of you loses your job you are in trouble. So I’m not sure how you live comfortably on $100k unless you are lucky enough to make that on your own and can avoid childcare and extra car payments so you can drive something that doesn’t break down every month. Most of us are not that lucky.
Retirement - $417 (if only contributing 5% pre-tax)
Tithing - $700
Mortgage and HOA for a low-end townhome - $1400
Utilities - $200
Gas - $300 (assuming a commute)
Food - $600 (this is nearly impossible right now if you have kids)
Daycare for two kids - $1500 (assuming you are both working to get to 100k and find childcare this cheap)
Clothing for kids - $300 (assuming your kids grow)
Savings - $200
Phone bills - $250
Insurance for house and cars - $200
This is already up to about $6k in expenses, and I’m tracking on the low end with barely any savings or retirement, no car payment, and almost no extra expenses. Most months you will end up with that extra thousand spent. There is almost no wiggle room in this budget. If one of you loses your job you are in trouble. So I’m not sure how you live comfortably on $100k unless you are lucky enough to make that on your own and can avoid childcare and extra car payments so you can drive something that doesn’t break down every month. Most of us are not that lucky.
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- dchandle15
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- DC15
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- Feb 4, 2011
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- Apr 27, 2024
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10/6/22 9:20am
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10/6/22 9:36am
10/6/22 4:13pm
10/6/22 10:00am
10/6/22 10:17am
10/6/22 11:22am
The question was live comfortably. Yes you could live for 100k living on the street. But can you live comfortably on
10/6/22 11:24am
10/6/22 11:27am
10/6/22 11:28am
10/6/22 4:07pm
10/6/22 11:14am
10/6/22 11:17am
10/6/22 10:48am
10/6/22 12:30pm
10/6/22 11:08am
10/6/22 3:36pm