Originally Posted by
jaymar88
80k is good money man.. Don't listen to the haters.
now the plan for a 3k sq. foot house, suv and the porsche could be stretching it a bit.
I don't think that's feasible on 80k a year. Maybe if your wife pulled in another 50k, then you could swing it, but "speaking from experience"
80 will be a stretch if you're trying to move into an 700k dollar home, 40k suv and 35k used p-car.
80k/12=6,700 a month. *28 % TAX = 4824 TAKE HOME
Motrgage on 700k (lowball) - 4600 a month.
Property tax - 7000/12 = 583 a month
Insurance on 2 cars and your house could be reasonably 3k a year (with that porsche) 3k/12 = 250 a month
Like I said.. 80k wont cut it, but a second income will do the trick. The Mortgage will be the killer. if you're buying to keep, a 30 yr fixed is still roughly 6.5-7% for a jumbo.
Good work on ballin at the new job though!!! I'd get rid of the golf and get the p car now!
yeah that works out real well if you plan on never putting any money into investments or retirement. So yeah go ahead and think 130k combined income will be enough to live that lifestyle for more than a short term. Then when he retires he can live off of social security and food stamps because he wanted a 700k dollar house a porsche and an SUV instead of a secure future.