What household income supports this lifestyle ?

[Drealifegoals]

If your lifestyle looks anything like this please share with me what yearly household income you have!

please share mumsnetters, this is where I want to end up for my 40s and there are people around us living this kind of lifestyle but I can’t ask them how much they earn IRL!

dream lifestyle is:

3 holidays a year - one long haul two smaller European city breaks type
1 nice car bought outright - nothing majorly expensive around the 60k mark
coffee out for both adults x5 a week
lunch out for both adults x2 a week
dinner out every Friday - whole family two adults two kids
good Christmas every year
money for regular hair appointments for whole family
enough money for both kids to do sports and music out of school
nicely decorated house
monthly shopping treats for all family members maybe £50 each
Food shop from M&S
clothing to be mainly high street with the odd designer item thrown in for whole family.

no mortgage, no childcare fees, both children in state school.

Hardly anyone resets clock when moving. If you increase mortgage you'll just get shorter term.

Mid 40s.

..and you need £10k month to have this lifestyle, minus £60k car??

That's crazy, paying a large mortgage into 60s..

Sorry, again based on my personal experience. It just doesn't make sense to do that..

They graduated last year - they lived away from home. Why don’t you breathe a little bit? They are fine, no need to get overexcited on their behalf until they hit a brick wall. You sound like you are hyperventilating.

Out of interest, how old are you? Not to be harsh but the OP sounds like a fifteen year old girls wish list!

Agree - having a second mortgage after moving mouse or renovating is pretty normal.

It makes a lot of sense to do that. When you are upsizing and increasing your mortgage, especially when rates have increased as they have done over the last few years, extending the term is a pragmatic way of keeping payments affordable in the short to medium term. It doesn’t mean you have to keep the mortgage that long, many will aim to over pay eventually, but it’s what a lot of people are having to do now between house prices, interest rate, cost of living, childcare costs and wage stagnation. This is why we’re seeing 40 year terms and lenders allowing terms into people’s 70s. Times have changed.

We just bought really young. I was 18 and DH was 21, our first house cost £12k and we had £1000 for a deposit. Our mortgage was paid off by the time I was 40.

How old are you @foursquares?

FTBs are older now & moving up the ladder often requires more borrowing.

Also everyone I know is never particularly representative….

Why doesn’t it make sense?

You have just bought your first property, yes @foursquares ? How old are you?

@foursquares is in her “mid 40s”

and currently buying (literally has multiple threads about it) her first ever property. Only possible because of a large inheritance.

And yet is arguing that paying off your mortgage in forties and early 50s is totally the norm.

But evidently not for you @foursquares given you’re in your mid 40s and are not only able to buy for the first time a property due to an inheritance?

I don’t think the people you know are typical. I’ve got no mortgage but I certainly know people who will be paying them until state pension age.

Best ignored I think. Mid forties, currently a FTB due to a large inheritance (no mortgage) so I don’t think @foursquares views on mortgages can be taken very seriously.

That’s so weirdly patronising.

You haven’t been financially sensible. You have utilised the tax benefits of ISAs for your children?

1900pm

You could have

No I didn't want our kids to have access to funds at 18, I don't think that is good for them - it's not up for debate and we were willing to sacrifice the tax on this. Money is not that important to me or my dh - we have enough of it to prioritise other things.

And you don't think your post was? We've been through this, we know what we are doing, we have thought about it. If you have decided that you need lots of little saving accounts to manage your money - great! I'm glad you have found something that works for you.

Very much doubt they know what ALL their friends are doing when they move also, I can’t think of a single friend or family member beyond perhaps my mum that I told about our mortgage when we upsized. Not out of embarrassment but because who really talks about the ins and out of their mortgage much? Especially a subsequent move.

I haven’t a clue what other friends and family are doing to afford their homes. And if that poster is as ignorant and clueless as they come across, I doubt their friends would be keen to talk to them about their mortgages.