[jklein11]

Your expenses seem highly optimistic.

As a number of other posters have mentioned, your estimate for tax liability seems pretty low.

You also mention that you included all of your tax mortgage payments as going toward your net worth. Your mortgage payment will include more than just the principle and would want to include that in your estimate for monthly expenses.

If you are not in an expensive city (i.e San Francisco, NYC, etc) 5K could be a very comfortable to live on. In a more expensive city it is still doable but likely won't have as much room for international vacations, luxury cars, etc.

Also, family planning will play a big role in this. Children are expensive, you will need to factor in child care, education etc.