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Probably $6000-10,000 a month in mortgage payments. And he said combined they're 1%. So after tax, probably more than half of his money going to mortgage.
by whamlastxmas 10y ago
Probably $6000-10,000 a month in mortgage payments. And he said combined they're 1%. So after tax, probably more than half of his money going to mortgage.
- xapata 10y agoThat still doesn't add up in my mind. A 1%-er household would have $240k+ post-tax annual income, more if they're deducting hefty mortgage interest payments. $100 in food daily ~ $36k $500 weekly domestic help ~ $25k $500 monthly utilities ~ $6k $2k monthly transportation ~ $24k $2k monthly misc ~ $24k $10,000 monthly mortgage ~ $120k That hits around $235k post-tax. I think that's a nice lifestyle. Eating out less would allow for different "fun" activities. Oh, I guess I forgot savings. Doh! I'd aim for savings about 10% annual pre-tax income for a household bringing in $400k+ pre-tax. I'm not sure how much of the mortgage principal payments I'd count towards that amount.
- pfarnsworth 10y agoPrivate school for two children is ~$4000/month.
- xapata 10y agoWell, I guess we're not eating out every day anymore.