200k is not much money

[Anonymous]

It's low end for dual income college grad couple. Without parents help, you might have to settle for a not so great school experience, or be that townhouse family at the school. It's a sad situation here now with real estate. But DC absorbed a ton of transplants circa 2009-2012+, and they have to live somewhere. Plus, rather than building new neighborhoods to keep up with population growth, we are tearing down existing inventory. Unless you want to pay 800k-1m to be in a small but kewl new townhouse development marketed as uber awesome because it includes "affordable dwelling units" (not affordable for you, of course). And finally, much of the beltway has become undesirable schools.

[Anonymous]

Anonymous wrote:taxes are very high in the USA where you lose about 60% so it's not really 200K it ends up being take home of like 134K which isn't much

https://www.yahoo.com/now/actually-home-200-000-salary-100000562.html

Your problem is that you are bad at math and end up spending too much.

[Anonymous]

Anonymous wrote:It's low end for dual income college grad couple. Without parents help, you might have to settle for a not so great school experience, or be that townhouse family at the school. It's a sad situation here now with real estate. But DC absorbed a ton of transplants circa 2009-2012+, and they have to live somewhere. Plus, rather than building new neighborhoods to keep up with population growth, we are tearing down existing inventory. Unless you want to pay 800k-1m to be in a small but kewl new townhouse development marketed as uber awesome because it includes "affordable dwelling units" (not affordable for you, of course). And finally, much of the beltway has become undesirable schools.

Oh noooooo not the townhouse family! They're all going to talk about you!

[Anonymous]

Dcumland is so spoiled and out of touch with how most people live. If your household income is 200k, you are among the privileged. Many hardworking, decent families live paycheck to paycheck. No wonder the country is so politically divided when the middle class is disappearing and the elite are so blind to the plight of ordinary families.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It's low end for dual income college grad couple. Without parents help, you might have to settle for a not so great school experience, or be that townhouse family at the school. It's a sad situation here now with real estate. But DC absorbed a ton of transplants circa 2009-2012+, and they have to live somewhere. Plus, rather than building new neighborhoods to keep up with population growth, we are tearing down existing inventory. Unless you want to pay 800k-1m to be in a small but kewl new townhouse development marketed as uber awesome because it includes "affordable dwelling units" (not affordable for you, of course). And finally, much of the beltway has become undesirable schools.

Oh noooooo not the townhouse family! They're all going to talk about you!

The townhouse family is at least a step up from the condo family!

Note: we are the condo family. It’s great, but our next place will have a pool.

[Anonymous]

oh boo hoo. I exist on $85K.

[Anonymous]

Anonymous wrote:$200K HHI would put you at the 79th percentile in the District. I think you’d be closer to 85th percentile in the DC metro area.

$200K is middle class inside the Beltway.

I wonder what the real percentile is when you eliminate the outliers. Take out the retirees, the young, single people, the drug addicts, the unmotivated that really don’t care to work much. If you could only include married couples with kids who are at least semi stable people, then I would imagine that 79th percentile does move somewhere near the median if you are using a comparison group that most here would use. If you further limit it to college grads from top 100 schools and dual income, then it’s likely below average. It matters who you compare yourself to.

[Anonymous]

Anonymous wrote:

Anonymous wrote:$200K HHI would put you at the 79th percentile in the District. I think you’d be closer to 85th percentile in the DC metro area.

$200K is middle class inside the Beltway.

I wonder what the real percentile is when you eliminate the outliers. Take out the retirees, the young, single people, the drug addicts, the unmotivated that really don’t care to work much. If you could only include married couples with kids who are at least semi stable people, then I would imagine that 79th percentile does move somewhere near the median if you are using a comparison group that most here would use. If you further limit it to college grads from top 100 schools and dual income, then it’s likely below average. It matters who you compare yourself to.

Right, this is ridiculous. Another commenter above said it’s low end, which can only be true if you compare yourselves to the high end.

[Anonymous]

I agree with your friend op. I grew up dirt poor and am amazed by how much I make however when all is said and done I only bring home 30% of my income. That's after taxes, retirement and insurance costs.

[Anonymous]

Anonymous wrote:I agree with your friend op. I grew up dirt poor and am amazed by how much I make however when all is said and done I only bring home 30% of my income. That's after taxes, retirement and insurance costs.

Could you give numbers on your gross paycheck and deductions? I don't see how it's possible for you to only bring home 30% if you're making $200K.

[Anonymous]

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Anonymous wrote:200K is the top 20% of HHI in the DC metropolitan area. If you feel you need to "compromise", you are an entitled spoiled brat whose completely out-of-touch with reality.

I'd love for you to link us a 4br+ 4000sf+ single family home in a top school district and low crime with a big yard, garage, and a 15 minute commute to downtown DC that you could afford on a $200K income while maxing out 2 401Ks, Roth IRAs, and 529s for 3 kids.

Because if you can't find all of that, you're going to have to give some of it up to be able to find something you can afford. And what's another word for giving things up to be able to get some of what you want? It starts with a "C..."

Agree. A comfortable, middle class to upper middle class lifestyle to me means:

- max out 401k(s) or IRA(s)
- adequately save in a 529 plan
- mortgage on a ~3000 SF house with a 2-car garage and a yard in a safe neighborhood in a good school district
- 2 vacations a year
- kids' activities (and child care if both parents work)
- family car(s)

$200,000 / year isn't enough for the above-described lifestyle. No chauffeurs or other extravagant expenses mentioned above.

That's not a middle class lifestyle, not in the US right now. Maybe it was for boomers but not today.

This is like parents with a kid who got a 33 on ACT saying he is in 97%tile in US. It maybe a true statement but not in DMV. It's barely 50%tile or so (my guess) b/c so many kids get 34-36s. It's not a generational issue, it's a locality issue.

This is so out of touch too! Just bc there are a lot of people with high scores and high incomes doesn't make 200k income and 35 ACT the "middle". Look at actual data--that's top 20% HHI in the DMV and top 5% ACT scores in the DMV.

You are proving my point. It’s middle for this area. That was the whole point. Ugh…

NP and NO. They JUST SAID it's 95th percentile IN THIS AREA for ACTs and 80th percentile FOR THIS AREA for income. 80th and 95th are not "middle!"

[Anonymous]

Anonymous wrote:

Anonymous wrote:$200K HHI would put you at the 79th percentile in the District. I think you’d be closer to 85th percentile in the DC metro area.

$200K is middle class inside the Beltway.

I wonder what the real percentile is when you eliminate the outliers. Take out the retirees, the young, single people, the drug addicts, the unmotivated that really don’t care to work much. If you could only include married couples with kids who are at least semi stable people, then I would imagine that 79th percentile does move somewhere near the median if you are using a comparison group that most here would use. If you further limit it to college grads from top 100 schools and dual income, then it’s likely below average. It matters who you compare yourself to.

Yes, and if you take out everyone that doesn't live on the priciest road in Potomac, then that $200K is really *lower class*! What an idiot...

[Anonymous]

I make 200k now. I took a big pay cut. I have used cars, WFH, but with three kids I have slightly negative cash flow. I spend more than I make. My net worth is still rising due to stocks and hone values but my bank account falls a bit each month. And I have not taken a vacation in five years or bought a car in five years.

My house is alone
$2,600 mortgage a month
$1,000 a month property tax
$400 utilities
Landscaping $150 a month 9 months a year
Repairs around $300 a month
Insurance $200 a month
Food like $2,000 a month
Car insurance $200 a month
Then my credit card bill always 3k to 4k a month. For instance I had Xmas shopping, car repair, home repair this month

On top of that not out of paycheck I have college tuition of around $6,000 a month (2 kids OOS with merit money)

My one kid is graduating soon but think about this she and boyfriend are 21. They are not engaged or living together or anything. But she has a 90k offer to start her boyfriend 110k so 200k is now the income of a 21 year old couple!!!

My RSU and options better vest in the money. I really need like $250k to break even and $350k to start vacations, buy a new car, out to dinner etc

[Anonymous]

Anonymous wrote:taxes are very high in the USA where you lose about 60% so it's not really 200K it ends up being take home of like 134K which isn't much

https://www.yahoo.com/now/actually-home-200-000-salary-100000562.html

And by this you mean, "where you take home nearly 70%"?

[Anonymous]

Anonymous wrote:$200K HHI would put you at the 79th percentile in the District. I think you’d be closer to 85th percentile in the DC metro area.

$200K is middle class inside the Beltway.

I don't understand how in the same statement you say "85th percentile" and then "middle class"