Are we UMC?

[Anonymous]

Labeling a household making $380k a year as middle class is an insult to the middle class

[Anonymous]

Anonymous wrote:If you are ttc and think you are UMC you will probably want a nanny. That will eat $100k of your gross. Hopefully that income is mainly from one person and one can stay at home.

No, this would be bad for net worth long term. Never understood this dcum argument that single earner hhi was more desirable from a financial standpoint than dual. It’s just incorrect mathematically and in terms of risk of job loss (I.e one person loses their job in single earner household and income goes to 0, in a dual income it goes to half). Its always a sacrifice financially to have one college educated (professional) person stay at home.

[Anonymous]

How come your NW is only 300k? What’s the story there?

[Anonymous]

Anonymous wrote:How come your NW is only 300k? What’s the story there?

+1. Income is high, why are savings so low?

[Anonymous]

Anonymous wrote:

Anonymous wrote:How come your NW is only 300k? What’s the story there?

+1. Income is high, why are savings so low?

Maybe they have a lot of student loan debt.

If they both took out loans for undergrad and grad school, they could have easily started out half a million in debt.

[Anonymous]

Anonymous wrote:

Anonymous wrote:How come your NW is only 300k? What’s the story there?

+1. Income is high, why are savings so low?

They are young. Is that why?

[Anonymous]

Maybe but you are far off from the mean for UMC. You are more MC but you do better than most MC.

[Anonymous]

You are not until your NW catches up with your HHI.

[Anonymous]

Income by age (I divided income evenly between the two of you and estimated your age at 33): 98th percentile
https://fourpillarfreedom.com/visualizing-the-income-of-americans-by-age/
But because it's for the BOTH of you, I would say that it's even higher than that to have two people at that level at that age.

Net worth by age is roughly 80th percentile.

https://dqydj.com/net-worth-by-age-calculator-united-states/


So UMC.

[Anonymous]

We have similar income and a higher NW but have two young kids.

Add a kid or two into your equation and you are solidly MC. I am sure salaries will grow, but I'd recommend saving and building up investments before the kids come around.

[Anonymous]

Anonymous wrote:Income by age (I divided income evenly between the two of you and estimated your age at 33): 98th percentile
https://fourpillarfreedom.com/visualizing-the-income-of-americans-by-age/
But because it's for the BOTH of you, I would say that it's even higher than that to have two people at that level at that age.

Net worth by age is roughly 80th percentile.

https://dqydj.com/net-worth-by-age-calculator-united-states/


So UMC.

While I still agree this qualifies as UMC even in this area. I think these tools should include adjustments for where you live, since the COL varies wildly across the country.

$350K might be living like a king in one place but FAR less so in other cities (thinking San Francisco for example)

[Anonymous]

Definitely not MC. Start saving more and retire early!!

[Anonymous]

According to snobby DCUM's standard, you're barely classified as middle class. Come back in a few years with higher income and net worth.

[Anonymous]

How does dcum calculate NW? Does it include retirement? Home equity? College savings?

[Anonymous]

Anonymous wrote:How does dcum calculate NW? Does it include retirement? Home equity? College savings?

every asset you owned - every liability you have = NW