感觉bogleheads上的人， 才能对比华人贫困线 Spouse and I work with tech companies in Seattle area. We have around $4.9M in savings (including 600K equity in our current home - that's a 30-40 minute drive). We have been looking at moving closer to office, good school district and move kids from private to public schools (another $2.5-3K savings per month). Our annual income at the lowest of last years market crash was around $1.1m. If the market doesn't crash and stays as is, our projected income this year would be $1.5+m, while if I lose my job (relatively higher probability) - it will be closer to 700K. We found a house in Bellevue in a top school district, that was listed for $3.9M. With the market crash, we bid $3.1m and the buyer accepted the offer as they were in visa crunch. The bank appraised the house at $3.6M. The plan is to sell some of our large holdings of single stocks, pay the 20% and move to the new house. And then sell our current house. The equity will act as cushion in case of layoffs. What am i missing? I am bit worried about being house poor. Please critique / provide me your thoughts.
Spouse and I work with tech companies in Seattle area. We have around $4.9M in savings (including 600K equity in our current home - that's a 30-40 minute drive). We have been looking at moving closer to office, good school district and move kids from private to public schools (another $2.5-3K savings per month). Our annual income at the lowest of last years market crash was around $1.1m. If the market doesn't crash and stays as is, our projected income this year would be $1.5+m, while if I lose my job (relatively higher probability) - it will be closer to 700K.
We found a house in Bellevue in a top school district, that was listed for $3.9M. With the market crash, we bid $3.1m and the buyer accepted the offer as they were in visa crunch. The bank appraised the house at $3.6M. The plan is to sell some of our large holdings of single stocks, pay the 20% and move to the new house. And then sell our current house. The equity will act as cushion in case of layoffs.
What am i missing? I am bit worried about being house poor. Please critique / provide me your thoughts.