What's your dream life cost?

[hz80408]

From an email article:

When it comes down to it, the way we spend our money is really about the kind of lifestyle we want.

So, if each shopping choice we make is a statement about the kind of lifestyle we want, what if we determine that lifestyle first, then tally up its cost and figure out how much we would need to accomplish it?

While people often do this for, say, a car, we've put together a calculator that will do that for your whole life.

It's like the M.A.S.H game from your childhood—but instead of writing down the name of the person you want to someday marry, you're telling us if you want a second home, how many kids you plan on having and what kind of vacations you dream of.

Even if you already have a home and kids, we'll admit: It's pretty fun!
www.learnvest.com/knowledge-center/m-a-s-h-calculator-how-much-will-my-lifestyle-cost/?utm_source=email&utm_medium=lvdaily&utm_campaign=jump

[hz80408]

Obviously there's faults like COL, age, etc...but I'd require a $313K annual income, which I'm far from

eta: looks like we need to plan on one less kid to travel more and make the kids pay for the majority of their school! Ha

[joanis018]

Apparently my dream life would cost $10million, with an annual household income of $260k. Of course I don't need all of those things, but if I'm dreaming I might as well dream.

[hz80408]

Aug 15, 2012 12:26:26 GMT -5 @mavjen said:

I need at least $204,000 per year. This was a good exercise, I need to remember that there may be care costs for our parents.

Yes, definitely interesting that they included that.

[brooklyn]

My dream life costs $7,082,000, and my annual household income would theoretically need to be $177,050.

That clearly does not account for NYC COL, lol. No way could I raise my hypothetical 2 kids in my hypothetical condo here on that.

[bethaboo]

I love this - it's such an interesting exercise and makes me feel better about my lifestyle.

My life will cost $2,698,757 and I need $67,471 a year.

[mrsguz]

$8,435,200

Annual income of $209k

But it's a little inaccurate because I get to fly for free.

[Deleted]

Holy cow, I'm cheap! I don't know how this is even right. I said I want two homes!

$85,617

Everything's in Moderation!

Your lifetime spending falls within the range of that of the average American. But don't breathe a sigh of relief just yet! The average American is also more than $10,000 in debt and doesn't have enough saved for retirement. So, don't be average. Boost your earnings, cut your unnecessary costs and develop both short- and long-term savings plans. Then you'll be on a path to living comfortably within your means.

[fashionx]

$7,493,000
YOUR AVERAGE ANNUAL HOUSEHOLD INCOME WILL NEED TO BE: $187,325

Ha.. no where near this right now! But we probably don't *need* vacation houses; I answered this for my dream life and not my real life.

[Deleted]

For my current life, my annual household income needs to be $158k, which sounds fine I guess.

For my dream life it needs to be about double that.

[Deleted]

This was really fun! I put in the info and my dream life would require a household income of only $189000 so I took it again and the amount was $200000. I need bigger dreams, I guess...lol. btw, hth is a state school for my (future) 4 kids going to cost $20,000 each? that seemed really off.

[misshark122]

The housing prices are hysterical to me. A modest home in the 'burbs here in San Diego cost like 600k at least!

[misshark122]

Oh this is awesome! I'll only need 211k a year! Nevermind that I'll never make more than 60k, if I am lucky.... lol.

Who knows if I open my own pilates studio though

[misshark122]

Aug 15, 2012 12:29:04 GMT -5 hz80408 said:

Aug 15, 2012 12:26:26 GMT -5 @mavjen said:

I need at least $204,000 per year. This was a good exercise, I need to remember that there may be care costs for our parents.

Yes, definitely interesting that they included that.

I am so lucky this definitely won't be the case for us. Though, actually DAMN. I was only thinking of my parents when I put in $0. His are another story... but there are 3 other kids they can rely on! ha ha ha

[hz80408]

Aug 15, 2012 13:01:05 GMT -5 fashionx said:

$7,493,000
YOUR AVERAGE ANNUAL HOUSEHOLD INCOME WILL NEED TO BE: $187,325

Ha.. no where near this right now! But we probably don't *need* vacation houses; I answered this for my dream life and not my real life.

Dude, I don't have a vacation home in my dream life and my required income is $313K/yr

eta: Even with reducing items I'm still at $167K/yr. I'd better win the lottery or change my expectations.

JJ- I agree on the international travel!! Although for one person it's maybe somewhat decent depending how long the trips are.

[bimbi284]

YOUR LIFE WILL COST:

$3,207,000
YOUR AVERAGE ANNUAL HOUSEHOLD INCOME WILL NEED TO BE:

$80,175

I tried to be a bit more modest with my choices, but still "reasonable". I decided to take it again with a bit more dreaming:

YOUR LIFE WILL COST:

$9,493,000
YOUR AVERAGE ANNUAL HOUSEHOLD INCOME WILL NEED TO BE:

$237,325

[narockshard]

My life will cost $7,524,000 and I need to make $188,100. That's with my "ideal" lifestyle and I suppose that's somewhat feasible in the future. But I'm also pretty comfortable right now too, so that works