If they live in a 2 bed room apt in Manhattan, the apartment costs more than $3500 each month, more likely $4000-$5000. And there is a city income tax that is several hundred dollars each month. So, $250-$300K may become a little tight after maxing out 401K contributions. However, if they live in New Jersey and commute, the living cost becomes much cheaper. There will be plenty left after 401K and comfortable living expenses.