Assuming I can save up 350k for a house BEFORE I have kids. So, say I have a 350k 5 bedroom house in seattle or something.
Now, without the mortgage issue, how much would I need to make yearly before taxes in order to afford 4 kids comfortably?
Considering I also want:
-to save up at least $40k per kid for their college.
-have vacations, international travel to home country once every two years: $1.5k per ticket times 5 tickets = 3.75k per year on that. Plus, disneyland trips at least once a year for spring break or something.
-I will have a stay at home spouse while the kids are too young for school.
-I want to buy a car to each kid when they turn 16. For maybe 5k. So thats 20k total to save up for their used cars.
-I want to be very updated in technology. Meaning buying all the cool stuff: smartphones, gaming computers, gaming consoles, tablets, etc. Each kid will have a smartphone at age 9. And their own laptop at 9. I suppose this wont really take too much money, as the other stuff such as gaming systems will be for family use.
-i want to have my future two daughters to be on gymnastics team or at least some sort of dance/martial arts team, so they can be super flexible and fit. I know from experience that gymnastics team costs $400 per month per girl, so $800 per month for the two girls. Plus, some kind of random sport or martial arts for two boys.
-I want them to have clothes that do not come from a second hand shop. But a regular shop like ross or kohls is fine.
Read more: What should my salary be if I want to have 4 kids and live comfortably?
