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.

60 k between us, no kids, spend 3 to 4 months a year at home, travelling in some form the other 9 months.

You need £120k - 160k after tax depending on holiday choices.

Yeah definitely, council tax could be cheaper too depending on your borough.

How are you working this out? Are you assuming a 60k car every year?

Same, I know I read the rest but brain kept going “nothing major” 🤣

From the people I know this is the lifestyle of 250k+ a year unless of course the house is paid off and there are investments, inheritances etc.

I know absolutely nothing about cars! And totally estimated wrongly! 😮🤣

40k car would be fine

Haven’t read the thread but Wells37 download the McDonalds app and you get a free coffee a week during September with no additional purchase required!

That’s how much we spend annually to live the kind of life the OP wants. I didn’t include the car because we bought that a few years ago, but this amount of money allows for flexible spending each year to allow for one off large purchases.

Thanks for the info 👍

Far too low I’m afraid. We are the lower end of this and shop in Lidl/one UK holiday a year.

This is fab really enjoyed my flat white at work yesterday!

Please explain this!!?

That still makes me lol!

Not if you are mortgage free.

Surely that’s around average for a nice family car?!

This will sound really dull OP but when you're in your 40s you may be thinking FML I still have a good 20 years of work left and wish I hadn't spunked a that money on coffees. Literally everyone I know is wondering when and how they can retire. I would agree to a happy medium - a comfortable life with some treats and bung the rest in a pension so that I can finish work earlier and enjoy life.

Absolutely- ours is 10 years old and 55 years old and still going strong. It's a question of what your compromises are to achieve the non working travelling lifestyle if that's your thing 😎

"Nice" is the most ambiguous word choice in this context. A brand new Honda civic would cost you £35k, or a new Skoda Octavia would be under half your budget.

What does nice mean?

You can get a brand new Volvo for 50k - but a plug in hybrid Volvo SUV would be nearly 100k.

Do you mean a certain brand? Do you actually want a car with a prestige badge?

Nice is pretty much the most subjective adjective available and not much to go on. I suppose you just mean you want a 60k car, without specifically knowing which 60k car?

Our income is around £225k (I'm not sure how much H earns but I'm the higher earner) and we could afford that lifestyle plus extra going into pensions and savings for kids house deposits etc. No mortgage, partly due to inheritance. So you could probably have the lifestyle on less but with less going into pensions and savings.

We prioritise some different things though as not really interested in flash cars or coffees every day (we are all different) but am spending a fair bit on other stuff like complex restorative dentistry which is £££. Am also planning a facelift in a couple of years. Enjoy going to the theatre, gigs etc though don't eat out as regularly as as it doesn't feel as special. Tutors when the kids have needed them. Driving lessons and insurance for eldest. Dance competition fees and costumes for youngest. Regular beauty treatments. But overall we may spend similarly to your preferred lifestyle. Though if we had to cut back in order to save enough into pensions we would prioritise that first.

I wonder how many credit cards they have?

rubbish...we paid off our mortgage early on my partners hgv salary while i looked after the kids but then i am a frugal tight arse...no smart phone, no tv and no expensive fashion tastes and a 10 year old car which flies through the mot every year...

We and DB/SIL have this sort of life, some changes, eg I wouldn't buy coffee every day but we run 2 cars, and income is around £150k, split £100k/£50k.

£20k goes on holidays.

£1k at the hairdresser.

Clothing around £5k. A pair of running shoes is nearly 200 quid.

I would add that it needs to look effortless. I get excited when I make a tenner on vinted, but realistically, that isn't funding a holiday to the Caribbean or the ME. You need some sort of investment/passive income stream.

Without a mortgage/childcare costs then £150k.
Although depends what a good Christmas etc means to you and how much you're spending on your three holidays. In my mind a long haul 2, weeks with all the trimmings where you can say yes to everything will set you back around £15k or so.

I think the £60k car outright and paying off the mortgage might require a lottery win, or a long time.

Also when do you want to retire?
We have set it all up so that we can retire in our 50s with a pension income of around £140k between us by maximising savings instead of spending on coffees and meals out etc.

At some point, I know I will inherit, DH won't. I will probably pass most of mine to my kids so they are set for life too.