Why is $275k hhi now so poor?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Op, thank you for working hard and pissing away all your hard earned money. Economy is doing well because of people like you.
Rich people see possibilities with any left over money; poor people see what they can't have - an Audi in this case. You lost me at the Audi. I just bought a new Mazda at 0% putting half down from my older car.
I don't put my money in 401k to rot, but I did double my money inside Roth accounts in under 6 months. I'm trying to do it again the next 6 months, so twice a year.
I do budget down to a dollar as I like it so much.
I work two days a week usually. I also took the whole summer off. Seems like my earned income will be $20k a year as it has been the last 25+ years.
Work smarter, not harder.

Oooohhhhh ooooo. I'm so impressed. Congrats, you'll either be the wealthiest corpse in the graveyard or a millionaire crapping in a diaper while you let life blow by with zero enjoyment and repaing the rewards of your labor while younger.

Lame.

DP, but I really don’t think driving a Mazda instead of an Audi and only working 2 days/week with summer off is letting life blow by with zero enjoyment.

I drive a minivan and love my sliding doors and fold down seats. Anyone who thinks being able to buy an Audi is the key to a good life is someone I feel sad for. But then again I live in a walkable area near metro and can go days at a time without driving my car. If I had to spend so much time in my car that they type or car I drive was of importance to me I would be pretty depressed.

Oh the irony. Minivans now cost $50k now, Janet.

Ever heard of buying a used car?

Hahahahahahahaha

You just showed how completely out of touch you are with modern reality. Used cars aren't cheap and are often a ripoff. Used cars are so expensive own too.


Go back to your delusional 2005 world from 20 years ago, Jen. Home prices have doubled to tripled. Cars have doubled. Insurance has doubled. Groceries have doubled. Everything is way more expensive now then the world you are living in from 2 decades ago.

Poster you’re responding to and Im betting I’m younger than you are. I was in middle school in 2005. Anyway, I have a used car it’s been great for me and was much more affordable than a new car. Yes, things are very expensive but I’m not living in a world from 2 decades ago, I’m living in the present and I’m good at budgeting and spending wisely within my means which it sounds like you aren’t.

[Anonymous]

Anonymous wrote:OP I don’t know what to tell you that you won’t immediately argue w but we are in our late 30s/early 40s, make about 175 HHI and have 2 kids (family of 4), max out 401k, save for our kids’ college, have an large amount in an emergency fund, etc. If you can’t have a nice lifestyle on 275 w no kids you are doing something very wrong.

NP. How much do you save for kids college yearly and what is a “large amount” for your emergency fund? Unless you have a paid off home, I can’t imagine maxing out 401k’s on this HHI and being able to substantially contribute to 529 and have a nice lifestyle also.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP I don’t know what to tell you that you won’t immediately argue w but we are in our late 30s/early 40s, make about 175 HHI and have 2 kids (family of 4), max out 401k, save for our kids’ college, have an large amount in an emergency fund, etc. If you can’t have a nice lifestyle on 275 w no kids you are doing something very wrong.

NP. How much do you save for kids college yearly and what is a “large amount” for your emergency fund? Unless you have a paid off home, I can’t imagine maxing out 401k’s on this HHI and being able to substantially contribute to 529 and have a nice lifestyle also.

We have about 18,000 in the emergency fund. I consider that large as it would cover about 3 months worth of expenses if needed. I’d like it to be more though. We don’t contribute as much as we’d like to 529 as we prioritize our retirement savings but our parents do also contribute to 529s. I didn’t say we have a “nice lifestyle” I was saying I can’t imagine how a couple w 100k more HHI than we have and no kids couldn’t have a nice lifestyle. but we have a good enough lifestyle even at our HHI—nothing fancy but certainly solidly middle class.

[Anonymous]

Anonymous wrote:

Anonymous wrote:OP I don’t know what to tell you that you won’t immediately argue w but we are in our late 30s/early 40s, make about 175 HHI and have 2 kids (family of 4), max out 401k, save for our kids’ college, have an large amount in an emergency fund, etc. If you can’t have a nice lifestyle on 275 w no kids you are doing something very wrong.

NP. How much do you save for kids college yearly and what is a “large amount” for your emergency fund? Unless you have a paid off home, I can’t imagine maxing out 401k’s on this HHI and being able to substantially contribute to 529 and have a nice lifestyle also.

Assuming an effective tax rate of 30%, $175k is still $10k/month. That is plenty to fund a substantial mortgage, a nice lifestyle and still save for college. Many people save for college with the previously allotted daycare money.

What it does not afford is luxury cars or luxury travel. But not having those things does not make one poor.

[Anonymous]

What is your mortgage principal balance? Any other debt?

275k is not poor, OP. If you feel poor on that income, you either have a spending problem, a debt problem, or both. Not an income problem. Yes, even in DCUMland.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Op, thank you for working hard and pissing away all your hard earned money. Economy is doing well because of people like you.
Rich people see possibilities with any left over money; poor people see what they can't have - an Audi in this case. You lost me at the Audi. I just bought a new Mazda at 0% putting half down from my older car.
I don't put my money in 401k to rot, but I did double my money inside Roth accounts in under 6 months. I'm trying to do it again the next 6 months, so twice a year.
I do budget down to a dollar as I like it so much.
I work two days a week usually. I also took the whole summer off. Seems like my earned income will be $20k a year as it has been the last 25+ years.
Work smarter, not harder.

Oooohhhhh ooooo. I'm so impressed. Congrats, you'll either be the wealthiest corpse in the graveyard or a millionaire crapping in a diaper while you let life blow by with zero enjoyment and repaing the rewards of your labor while younger.

Lame.

DP, but I really don’t think driving a Mazda instead of an Audi and only working 2 days/week with summer off is letting life blow by with zero enjoyment.

I drive a minivan and love my sliding doors and fold down seats. Anyone who thinks being able to buy an Audi is the key to a good life is someone I feel sad for. But then again I live in a walkable area near metro and can go days at a time without driving my car. If I had to spend so much time in my car that they type or car I drive was of importance to me I would be pretty depressed.

Oh the irony. Minivans now cost $50k now, Janet.

You don't need the 2024 Odyssey Elite, Brynlee!

[Anonymous]

Anonymous wrote:

Anonymous wrote:How old are you and how long have you been making that? You should be doing fine. When we were dinks making that, we had a subscription to the theater, went out for dinner a lot, bought a lot of clothes, visited friends in NYC, flew to visit parents a few times a year, did home renovations, etc. - plenty of money that didn’t need to be spent - unless you have backbreaking student loans. Then that’s the issue.

Look Jennifer from Gen X, it isn’t 1998 anymore. It is 2024. Maybe you haven’t noticed, but car and home insurance has risen by 30% in the last 3 years. Shopping around barely saves money. Gas is never going back down below $3.50 again. Groceries are insane. Garbage chipotle food now costs $42 for two people. Imagine how bad dining out is now when friggin fast food costs $40. A new stupid minivan for soccer moms is $50k.

Everything about American life sucks AZZ. You aren’t comfortable unless you’re now making. $500k. Maybe you should retire your waffle thermals and nirvana Ts and join the year 2024, Jen from latchkey.

I don’t know if you’re trolling, but I agree lol.

Insurance costs HAVE skyrocketed - health is $2000 a month for us. Our home insurance has double to $8000 a year. Car insurance nearly doubled too. We live on the west coast and gas is always above $5.00 a gallon. We spend at least $750/mo on GAS for our vehicles. Yes our next car will be electric. Kid costs are exploding beyond anything we imagined. As a Dink, you have avoided the biggest drain on your resources - it’s nothing compared to all the things you’ve mentioned.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How old are you and how long have you been making that? You should be doing fine. When we were dinks making that, we had a subscription to the theater, went out for dinner a lot, bought a lot of clothes, visited friends in NYC, flew to visit parents a few times a year, did home renovations, etc. - plenty of money that didn’t need to be spent - unless you have backbreaking student loans. Then that’s the issue.

Look Jennifer from Gen X, it isn’t 1998 anymore. It is 2024. Maybe you haven’t noticed, but car and home insurance has risen by 30% in the last 3 years. Shopping around barely saves money. Gas is never going back down below $3.50 again. Groceries are insane. Garbage chipotle food now costs $42 for two people. Imagine how bad dining out is now when friggin fast food costs $40. A new stupid minivan for soccer moms is $50k.

Everything about American life sucks AZZ. You aren’t comfortable unless you’re now making. $500k. Maybe you should retire your waffle thermals and nirvana Ts and join the year 2024, Jen from latchkey.

I don’t know if you’re trolling, but I agree lol.

Insurance costs HAVE skyrocketed - health is $2000 a month for us. Our home insurance has double to $8000 a year. Car insurance nearly doubled too. We live on the west coast and gas is always above $5.00 a gallon. We spend at least $750/mo on GAS for our vehicles. Yes our next car will be electric. Kid costs are exploding beyond anything we imagined. As a Dink, you have avoided the biggest drain on your resources - it’s nothing compared to all the things you’ve mentioned.

Leave California you idiot. Our home, car and umbrella insurance combined is under $2k. I fill up 2x a month at $60 each time.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How old are you and how long have you been making that? You should be doing fine. When we were dinks making that, we had a subscription to the theater, went out for dinner a lot, bought a lot of clothes, visited friends in NYC, flew to visit parents a few times a year, did home renovations, etc. - plenty of money that didn’t need to be spent - unless you have backbreaking student loans. Then that’s the issue.

Look Jennifer from Gen X, it isn’t 1998 anymore. It is 2024. Maybe you haven’t noticed, but car and home insurance has risen by 30% in the last 3 years. Shopping around barely saves money. Gas is never going back down below $3.50 again. Groceries are insane. Garbage chipotle food now costs $42 for two people. Imagine how bad dining out is now when friggin fast food costs $40. A new stupid minivan for soccer moms is $50k.

Everything about American life sucks AZZ. You aren’t comfortable unless you’re now making. $500k. Maybe you should retire your waffle thermals and nirvana Ts and join the year 2024, Jen from latchkey.

I don’t know if you’re trolling, but I agree lol.

Insurance costs HAVE skyrocketed - health is $2000 a month for us. Our home insurance has double to $8000 a year. Car insurance nearly doubled too. We live on the west coast and gas is always above $5.00 a gallon. We spend at least $750/mo on GAS for our vehicles. Yes our next car will be electric. Kid costs are exploding beyond anything we imagined. As a Dink, you have avoided the biggest drain on your resources - it’s nothing compared to all the things you’ve mentioned.

Leave California you idiot. Our home, car and umbrella insurance combined is under $2k. I fill up 2x a month at $60 each time.

Trust me I am planning on it…

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP I don’t know what to tell you that you won’t immediately argue w but we are in our late 30s/early 40s, make about 175 HHI and have 2 kids (family of 4), max out 401k, save for our kids’ college, have an large amount in an emergency fund, etc. If you can’t have a nice lifestyle on 275 w no kids you are doing something very wrong.

NP. How much do you save for kids college yearly and what is a “large amount” for your emergency fund? Unless you have a paid off home, I can’t imagine maxing out 401k’s on this HHI and being able to substantially contribute to 529 and have a nice lifestyle also.

Assuming an effective tax rate of 30%, $175k is still $10k/month. That is plenty to fund a substantial mortgage, a nice lifestyle and still save for college. Many people save for college with the previously allotted daycare money.

What it does not afford is luxury cars or luxury travel. But not having those things does not make one poor.

Did you account for maxing the 401k’s in this calculation? And what is a substantial mortgage? In this area 3k is a very normal mortgage so 4-5k minimum would be getting into substantial. If you have 2 kids, you should save at least 500-1000 per month per kid into 529’s to make any kind of dent in college expenses. This leaves 3-4K per month to cover car payments, car insurance, gas, food, classes for kids. They can go into the red really quickly and leaves no money for extra savings. Hardly a nice lifestyle.

[Anonymous]

OP’s either a troll or a very dim bulb.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:OP I don’t know what to tell you that you won’t immediately argue w but we are in our late 30s/early 40s, make about 175 HHI and have 2 kids (family of 4), max out 401k, save for our kids’ college, have an large amount in an emergency fund, etc. If you can’t have a nice lifestyle on 275 w no kids you are doing something very wrong.

NP. How much do you save for kids college yearly and what is a “large amount” for your emergency fund? Unless you have a paid off home, I can’t imagine maxing out 401k’s on this HHI and being able to substantially contribute to 529 and have a nice lifestyle also.

Assuming an effective tax rate of 30%, $175k is still $10k/month. That is plenty to fund a substantial mortgage, a nice lifestyle and still save for college. Many people save for college with the previously allotted daycare money.

What it does not afford is luxury cars or luxury travel. But not having those things does not make one poor.

Did you account for maxing the 401k’s in this calculation? And what is a substantial mortgage? In this area 3k is a very normal mortgage so 4-5k minimum would be getting into substantial. If you have 2 kids, you should save at least 500-1000 per month per kid into 529’s to make any kind of dent in college expenses. This leaves 3-4K per month to cover car payments, car insurance, gas, food, classes for kids. They can go into the red really quickly and leaves no money for extra savings. Hardly a nice lifestyle.

That's plenty. And we don't do car payments.

[Anonymous]

OP, we have similar incomes and do feel middle class. But we also are able to max out retirement and save lots for college. So I guess those are luxuries now and everyone can’t do that. I don’t really get it but I do think we would feel wealthy if we didn’t save as much as we do.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:How old are you and how long have you been making that? You should be doing fine. When we were dinks making that, we had a subscription to the theater, went out for dinner a lot, bought a lot of clothes, visited friends in NYC, flew to visit parents a few times a year, did home renovations, etc. - plenty of money that didn’t need to be spent - unless you have backbreaking student loans. Then that’s the issue.

Look Jennifer from Gen X, it isn’t 1998 anymore. It is 2024. Maybe you haven’t noticed, but car and home insurance has risen by 30% in the last 3 years. Shopping around barely saves money. Gas is never going back down below $3.50 again. Groceries are insane. Garbage chipotle food now costs $42 for two people. Imagine how bad dining out is now when friggin fast food costs $40. A new stupid minivan for soccer moms is $50k.

Everything about American life sucks AZZ. You aren’t comfortable unless you’re now making. $500k. Maybe you should retire your waffle thermals and nirvana Ts and join the year 2024, Jen from latchkey.

I don’t know if you’re trolling, but I agree lol.

Insurance costs HAVE skyrocketed - health is $2000 a month for us. Our home insurance has double to $8000 a year. Car insurance nearly doubled too. We live on the west coast and gas is always above $5.00 a gallon. We spend at least $750/mo on GAS for our vehicles. Yes our next car will be electric. Kid costs are exploding beyond anything we imagined. As a Dink, you have avoided the biggest drain on your resources - it’s nothing compared to all the things you’ve mentioned.

You pay your own health insurance on that income? Then take that out of your HHI then. We pay under $500 a month for a family of 4. This is your employers fault for sticking you with high premiums or are you HSA plan? And yes for west coast thats a lower salary than you need. Cheaper gas and health insurance and housing would make it much easier.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’m guessing you eat out all the time and constantly getting Starbucks and boba without even thinking. You have multiple streaming accounts and order from Amazon whenever you need or want something without thinking.
You get your hair and nails done every 6 weeks and buy expensive clothes. It doesnt matter how your house and car is, this
kind of spending adds up fast!

But if you're arguing that someone making 275K shouldn't be getting their hair done, then it does suggest that they are no longer middle class. Certainly in previous generations, middle class people got haircuts and didn't consider them a luxury.

Precisely! This poster gets it.

Wow, you struggle with money because you go out to restaurants, you take a vacation, you get your hair done, and you drink boba? How dare you live a middle class lifestyle. The fact that living a middle class life style is now extraordinarily difficult on $275k means the middle class is ruined and prices are out of control.

$275k barely affords you access to
middle class life anymore.

Middle class didnt save for college, they took out loans. They also didnt go on plane vacations or go out to eat that often.