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I live in Seattle (high cost of living area) and have 2 small kids (2 & 4). Just housing and insurance (health, life, disability, etc) are $84K/year. That’s bef
by DVassallo 8y ago
I live in Seattle (high cost of living area) and have 2 small kids (2 & 4). Just housing and insurance (health, life, disability, etc) are $84K/year. That’s before food and utilities. My total expenses are about $150K. I start with a round $1M in liquid savings, so it’s about 5.5 years of runway. There’s more detail about my finances in this post for those curious: https://danielvassallo.com/from-employee-to-bootstrapper/ https://danielvassallo.com/from-employee-to-bootstrapper/
- fwip 8y agoI live in Seattle too, and this is the first year I made more than $85k. But I don't have kids.
- DVassallo 8y agoYes, it’s more expensive with a family. The cheapest health insurance from Obamacare was $15K/year, with a $14K decidable. I live in a 2,500 sqft 3-bed townhouse and all housing costs are $64K/year (mortgage, HOA, and insurance). Then I have another $5K for life, disability, umbrella, and auto insurance.
- aerovistae 8y agoVery interesting blog post, to me at least.