$235k for family of 4 to live comfortably in top 100 biggest cities!

[tgn123]

@chris0699 In a similar boat to you. I posted my budget in another forum so feel free to check. But yeah, only one kid in daycare (3 little ones - in laws and parents help to watch). No car payments. No other debt. Mortgage is $3500 for a 4 bed 2 bath SFH. Bought with a low rate in a MCOL suburb outside a couple major cities. With more kids in daycare, car payments, student debt, etc. we would be so much tighter in our budgeting.

Additionally we lived with my parents for awhile to save up and my parents and in laws helped us financially somewhat too. It’s a nice lifestyle with everything you mentioned above, but my wife and I both work. She works like 45-50 hours a week, I work much less, but then spend a lot of time watching the kids at home. It’s a manageable, lovely, tiring life.

 

[bihmore]

@chris0699 Granted, I don't live in one of the 100 largest cities in the US, but I live in an area thats MCOL (apparently going into HCOL based on what everyone is saying). We make a combined 160K with 2 kids in daycare, we recently bought a home, we save for retirement and the kids' college, we go on multiple vacations annually, and have leftover $$ to save for a second home and do other things we want. I think a lot of people in the US have a consumerism issue. People are spending crazy amounts of money (or going into debt) on things that just aren't needed.

 

[livingfaithpm]

@chris0699 Can we stop with these posts? It's the 10th time I'm seeing this damn study even though it's complete and utter nonsense.

 

[laceflower]

@chris0699 The Feds are more accurate. You are asking for 2 salaries but it is ok for one parent to stay home with the kids. Then you don’t need daycare and you can probably eliminate stress and eating out. Many will also be able to survive with one car too.

 

[moonlitsonata]

@chris0699 I'm guessing these expenses are aspirational rather than realistic? Like what people should be able to have rather than how people make do now?

 

[resjudicata]

@chris0699 Bullshit article

 

[jsmith57]

@chris0699 Not even a week ago a commenter in my area (DC area) said his HHI was near-ish mid 200k (with a wife plus 2 kids) in this area they felt barely lower-middle. DC proper and close surrounding area is definitely a HCOL market/area.

 

[olwen]

@chris0699 Family of 4 in a popular metro area, we get help with daycare but make a comfortable living off about 100-110k combined, so this doesn't seem to be a good article. And no, daycare isn't another 130k, which would be the 235k in the example

235k, you are taking skiing vacations and renting lake cabins twice a year

 

[lacey65]

@chris0699 I would never want to raise a family in a city.

 

[mumohqee]

@chris0699 Lol. It’s a billion per year! God, these posts….

 

[mel]

@chris0699 Sound low, tbh as a resident of a HCOL area.

 

[hidalgo]

@chris0699 honestly that seems low for some of the top 10 expensive cities. $235k is $165k or so after taxes. I live fairly frugal not in an expensive city with no mortgage/rent and spend that much annually.

 

[berniefielder]

@chris0699 How are they defining comfortable? I live in Seattle and make almost $20 an hour less than what they say is needed for a single adult to be comfortable and I own a condo and save like $10k a year outside of retirement while also saving 9% of my salary for retirement. I'd be more comfortable and probably own a two bedroom instead of a one bedroom if I made what they say I need to to be comfortable, but I'm not even close to uncomfortable

 

[reamraw]

@berniefielder You must have bought your place years ago?

 

[berniefielder]

@reamraw It was in late 2022, prices haven't changed that much since then

 

[greyve]

@chris0699 I hate to say this, but if you have two adults holding manager positions in accounting, you can make $240k combined pre-tax. It's not that rare and does not have to be VHCOL area.

 

[mark1111]

@greyve That’s very true. But some people want to be a stay at home parent.

 

[greyve]

@mark1111 That's a luxury.

 

[mark1111]

@greyve I don’t want my kids raised by strangers. But you are right it’s a luxury.

I make 120k and I can definitely support a family of 4 on that salary but it would be tough.

 

[alex001]

@chris0699 Yep family of three here. Don't leave the house unless work or grocery store