[n00b101]

$145K take home pay is surely like $200+K/year?

It's $240k/year in Canada.

If your spouse is going to work too, I admit that is a lot more doable.

Is it? Saving $1.5M by age 40 gives you a $30k/year life annuity (2%) for retirement. During the accumulation phase you need to save $100k/year for 15 years, so you only get to spend $45k per year during your pre-retirement life. Living off $30-45k/year maybe makes sense for 1 person, but 2 people or a whole family?? I think not, that's called poverty. You need to be earning $240k gross per household member starting from age 25, in order to make this retirement "plan" work.

[nommm-nommm]

>Living off $30-45k/year maybe makes sense for 1 person, but 2 people or a whole family?? I think not, that's called poverty.

Ah yes, the hacker news bubble where $40k a year is poverty.

Sometimes I am just speechless... This is one of those times.

[mcguire]

"Living off $30-45k/year maybe makes sense for 1 person, but 2 people or a whole family?"

You'd be in good company.

The median household income in the US is ~$51k. The median personal income is ~$30k. The poverty line in the continental US for a family of 4 is ~$25k.

[sheepmullet]

$30k/year is ~$550/week.

If you already own a home that is more than enough to live well as a family in most parts of the US.

> Living off $30-45k/year maybe makes sense for 1 person, but 2 people or a whole family??

Of course you have to make sacrifices. It all depends on what you want in life.

I lived with my parents until my early thirties and that allowed me to buy a house outright.