Quote:
Originally Posted by Unregistered
Your situation is the norm. A middle class lifestyle which includes maid, kids, some enrichment classes, mortgage, insurance, education savings, transport, some shopping and dining out and income tax would mean cash outflow of about 7k a month. If a car is added with holidays, the cash outflow will be closer to 9k.
I think a couple with kids needs to earn combined at least 16k to be able to build up retirement savings comfortably.
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I totally agree with you...Our joint income now is about $180K per annum...it's no where near the $16K you mentioned...That's why we are hesitant in having kids....if we have no kid, we can probably go for more holidays or have a higher standard of living...*sigh*..now we understand why there are so many childless couples out there...