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How much money will these expenses cost monthly?

I am trying to plan my life a little bit. I was wondering if someone could help me on this question. For everyone with children, I want to have 2 kids, how much would it cost to pay for their medical exenses, clothes, to go to a private school, anything they would need. Then, I know my mom will live with me in the future. And she has diabetes, and type 2. What will be the average for her medicene, medical cost, etc. I want to know so I can have enough and not struggle so hard when I am older, and I don’t want to barely get by like someone I know, thanks

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Answer #1

Damn…you’re gunna need to make about 70,000 a year if that’s how you think your life is going to be. And private school? Kiss about 30,000 a year away for a good private school.

Answer #2

actually, you’d need 20,000 per kid per year for private school. For the diabetes related medical bills, if it’s not covered by insurance or Medicare, probably a few thousand a month.

Then considering retirement, vacations, college savings, etc, I’d suggest you get a job that pays at least 200,000 per year, and of course your wife will need to bring in six figures as well.

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