![]() To give you an idea of how little you actually get for a $1.85 million home, below is an example of a typical home in that price range in Golden Gate Heights, one of San Francisco's best-kept secret neighborhoods. But it's nothing fancy since the median price for a single-family home is $1.7 million in San Francisco. (Their $1.8 million assessed house is a standard 2,200 square feet, four-bedroom, three-bathroom home on a 3,000 square foot lot. Therefore, this couple is adding $24,000 a year in forced savings to their annual 401(k) savings. This amount isn't bad for a $900,000 mortgage with a 3.25% interest rate $2,000 out of the $3,900 goes toward paying down principal and building net worth. The budget includes expenses like groceries, eating out and food delivery. It makes little sense to spend hours cooking when you're already tired and want to reserve your remaining energy for taking care of your kids. The parents' ultimate plan is to send both children to private grade school, which costs about $35,000 from K-8 and about $45,000 from 9-12. The $2,000 per month does not include the suggested $3,000 per child donation the school asks each year to help fund new construction. The second child goes to preschool full-time. The couple then spends an extra $250 a month for some babysitting help. ![]() Their childcare center costs $2,200 a month for full-time care. There's no getting around this expense when both parents are working. After several years in the business, $350,000 isn't unheard of.
0 Comments
Leave a Reply. |