Tuesday, January 5, 2016
How much would one need to make to afford a $600k home and this lifestyle?
Let's assume they're a married couple with no kids. Roughly how much would their annual gross household income need to be to afford this lifestyle?
- $600k home in the midwest (30 year fixed mortgage at 4 percent interest rate and 20 percent down)
- Drive a Corvette Stingray (about $50k), Mercedes E Class ($35k), and Range Rover ($45k), changed every four years.
- Spend about $10k annually on vacations in Europe or South America
- Each person spends $10k per year on clothes, entertainment, gifts, charity, misc., etc. So $20k total.
- Each person maxes out their 401k's, so $36k total
- Save about $15k annually every year
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