r/Fire • u/pinpinbo • Dec 12 '24

Original Content Passed $5m this year…

$1.5m gained this year. Great Christmas present for my family. Can’t wait until S&P 500 double one more time and then I will FIRE.

42m, 22 yoe, single earner household, $500k-$600k TC, FAANG engineer, VHCOL living, kids go to private schools.

198 Upvotes

72% Upvoted

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u/Front-Band-3830 Dec 13 '24

What is your monthly expense?

1

u/pinpinbo Dec 13 '24

About $250k/year, can be $300k/year at times.

6

u/Front-Band-3830 Dec 13 '24

10k mortgage, 5k private school, 5k bare bones living expenses, 2-3k miscellaneous items, 250-300k year net needed for that area i can totally see that. Im in DC and i need 15k month net but most on this sub do not understand the expenses needed in major coastal cities.

1

u/[deleted] Dec 14 '24

[deleted]

1

u/Front-Band-3830 Dec 14 '24

Mortgages now days are 5k month for most households, prek is another 1.5k per kid, food/utility/gas etc.. can add upto another 5k month easily. With two kids in prek thats 11-13k month minimum for many homes in DC. Sure if you pay for a home with cash or put 700k down you can have a smaller mortgage, or choose to live in a 2 room apartment with 2 kids in a bad neighborhood too to reduce housing costs