To those who can't make ends meet on $250K, take note:

[Anonymous]

Anonymous wrote:This person makes $250 (so about $125 after taxes) and unexpectedly incurred $100K in debt and you want it to disappear through a year of "living frugally." that doesn't seem possible if she wants to maintain her job and live somewhere safe. I totally agree that some people live crazy lifestyles on $250K that they can't afford and then cry poor but the PP doesn't seem like one of those people.

If I read correctly, she said she had bought a SECOND house before she sold the first. Sorry, that's bad financial management. They could have rented their house and then rented in the new area to offset that single mortgage. We've all lost equity, no matter when you bought.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I've read all these threads about the 250K crowd saying they are not rich. The problem is that the prevailing attitude of these posters is, that after their really nice house, private school, retirement and savings, and top of the line health insurance, they don't have that much left over. What they don't seem to get is that there are people out there without decent/any health insurance, retirement and savings, and nice homes in safe neighborhoods who also don't have a lot leftover.

They are clueless.

And FWIW, I grew up very comfortably and our two income house makes 170K. So I'm clueless too but at least I can admit it and know enough not to complain and condescend people making less than me about what my income can buy. Newsflash: we know you don't have gold-plated toilets, but yeah, you're still pretty rich, or at least better off than most of the world. I don't begrudge people their high salaries either. Good for you if you bring in a good income - just don't lament about how people don't understand what that amount of money can buy.

Thats bullshit and you know it. ANYONE OF YOU i make less then 200k a year and have hice house people live with in your means people. WHEN DID YOU BUY YOUR HOUSE, how much is worth now and what is your mortgage. A lot of us who bought later would most hapily trade our salary for yours if we could get the same deal on your house you did.

Guess what? NOT EVERYONE OWNS A HOUSE. My family makes under $100K/yr. We rent. I in no way compare myself to a family making $11K (or less) a year. Which is what 10% of the people in DC are trying to do.

You need a serious dose of perspective. It's people like you who make DC suck.

[Anonymous]

If you already owned a house somewhere else, moved here and bought a house and now are stuck with two mortgages, I don't feel sorry for the "burden" you carry. Who the hell buys a second house when they already have one they are possibly upside down on? We own a house in another state we can't sell and are renting at a loss. We moved here and RENT. It's a novel idea, I know.

If you are honestly complaining about the fact your $250,000 salary barely covers the student loans on your $100,000 education that GOT you the $250,000 a year job and think people who make $15,000 a year should feel sorry for you, you have had your head up your ass for far too long and should pop it out once in awhile to catch a glimpse of the real world.

[Anonymous]

Anonymous wrote:I don't know what 21.38/23.34's problem is, besides being a troll. Poor people don't live in luxury off their food stamp benefits. They live. Period.

If you really want to see what a snippet of what its like to be poor in America, you can check out the episode of 30 Days where Morgan Spurlock and his gf lived for 30 days on minimum wage. The rules for the *experiment* they were only allowed to start with one weeks worth of pay at minimum wage each, no credit cards, no health insurance, and no back up savings. Here's part 1. The rest you can find linked after the end of the video.

If you're having a hard time making ends meet, then you need to cut back. End of story. We're lucky in that we own our home and 2 cars out right: We inherited our house and our cars are 5 and 12 years old. One's a compact for me and the kids, the truck my husband needs for his job. Times were hard this year for us because there wasn't alot of work for DH and I had to stop working a few years ago when we realized our sn son would need full time care (that we couldn't afford). We cut coupons, buy everything on sale/used (for the kids, I can't remember the last time I bought new clothes for myself), freecycle, and we've been renting out rooms in our basement.

I'd love to take vacations, upgrade to a bigger car so that I can take the kids around on play dates (my car only fits 2 car seats so if I host it's our house or nothing), start a college fund for the kids or even go back to school. But we can't afford that right now.

Thanks for posting this, hadn't seen it. These two had everything going for them and none of the baggage and still have trouble making it to the end of the month - on two full time incomes and no kids.

[Anonymous]

I make 88K, my Dh has been unemployed for 2 years - laid off from non-profit sector. We both have Master's degrees. We Paid 420K for a big house in the suburbs at the height of the boom in May 2006. It's now worth 274K according to zillow. We have a condo that we rent out and we make a few hundred bucks off each month. We drive 2 cars from 2004 and 2005 that we have fortunately now paid off. We always pay on time, eat out a few times a month, took a vacation last Spring. This summer our tenants moved out and our condo was empty for maintenance for a month before being re-rented. We had to borrow money from my parents to make the bills on time. We are living a good life, but we are not anywhere where we expected to be when we got started on our professional lives. And still, WE FEEL VERY FORTUNATE. There are people who are really hurting. We are grateful that we are making it work. It's really shocking to me to read how little persepective and how little compassion some people can have for those less fortunate.

[Anonymous]

The recession didn't hit this area like it did most of the rest of the country. My friend in Ohio tells me that nearly all of her neighbors were laid off and started competing with one another for minimum wage jobs. They all went to college and have families. She said that people have yard sales every day now trying to make money by selling their belongings to pay bills. She said yard sales used to be a thing for weekends but now it is every day. She feels lucky that her coworkers and her took a 40% paycut instead of layoffs. She has her Master's degree and now waits tables at night to make up the lost income.

[Anonymous]

Clueless comes in all income brackets.

[Anonymous]

These discussions usually lead to nowhere. As much as we like to think we can put ourselves in another's shoes, it's much easier said than done. FWIW, upper income people complaining to lower income people is kind of like complaining to a cancer ward about a stubbed toe. Bottom line, we're all in pain.

[Anonymous]

Anonymous wrote:

Anonymous wrote:And here we go...

18:24 -- You really think someone making $11,000 a year has a nice, comfortable net worth? Yes, you're drowning in debt. So are many making $250K+ who choose to spend more than they make and/or assume they can never lose their jobs.

Please. Do not try to put your situation side by side with people living below the poverty line. Just don't. Show a little compassion and admit that you wouldn't last 30 minutes on $11K a year.

You mean, like when I was on my own at 13 and living on 10 dollars a week, sleeping on couches and eating meals at work (restaurants) because free meals came with the job? Or, how about when I put myself through both high school and college on less that 7,000 a year? Oh yeah, I did that and still managed to send money to my mom, who was living in her car.

I've been middle class since college and it's definitely a step up, but there is no safety net here and the mistakes cost you a lot more. Trust me, when I made 7,000 a year I did not owe anybody more than I could hope to make in 20 years, like now. And I still support myself and my mom, plus DH's parents and occasionally a sibling or two.

Clearly you people don't know many immigrant families. The class stereotyping on this board is insane. And don't be running out there giving yourslef any awards for compassion, pp. You get an epic fail in that department.

I'm part of an immigrant family who never suffered.

not intentionally putting anyone down but . . . My family - European - came from poverty, but no one was living on the streets. We lived quite well b/c the men in the family (truth) had trades and worked hard to support themselves and their families.

In my profession, however, I deal with mainly poor immigrants. So I know what suffering is.

But not all immigrants remain poor and struggle for a good part of their lives.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:Stfu live within your means people, you probably all bought houses before 2005 , for others that dont haves fake equity down payments 250k a year ain't shit considering a decent house is 750k

There are plenty of decent houses below 750K. In fact, there are plenty of decent houses below 500K or even 300K or less.

And I don't know why someone would buy a house and incur another mortgage that they can't afford if they hadn't sold their first house yet. Downsizing and renting are not dirty words.

EXACTLY. A decent house is 750k? Since when? People are too spoiled about where they want to live. And they make risky purchases and then want to call themselves poor. Why not downsize, go down to one car, and yes consider public school - and who said to do it just for a year? It is crazy to think that people cant be happy in a smaller home with a used car and kids in a good public school - at the very least they wouldnt be swimming in debt, right? And that seems to be the complaint. Some people just arent willing to take their lumps. And sorry but they truly dont know what poor is. There should be a wake up people kind of reality show on this. Or maybe there already is? It would be very informative on the difference between living in poverty and living beyond your means.

You know why? I live in America I am not in a 3rd world country. If I wanted to live in a tiny hut, with a moped and like some poor ass fool I would move to 3rd world asia or just go on welfare and stop working.

Let me guess you lived with in your means and magically got a bunch of equity from your prior to 2005 home purchase. BE honest what is your mortgage, income, value of your house and downpayment.

Here is mine salary of 240k a year, bought 1br 1974 condo in 2005 a condo for 270k that i can't sell and rent at a loss, bought a 1500sqrft 1959 signle family house in 2007 for 560k, and its probably worth 500k. Granted I purchased in Tyson's Falls Church so I am not too bad but people like me got SCREWED. Basically all the money and appreciation older buyers experienced was due to first time home buyers bascially giving you our money. The day I can unload my condo and house I will be buying something for about 750k maybe more but right now I am stuck. So you can spare me the lecture and yes I am doing fine but the biggest issue is the cost of housing for young families in this area makes people who are 250K bleed out all their money. The whole save and scrimp bull shit usually comes from people that already made their equity by buying before 2005. Do you honestly believe that between 2000 and 2005 that the DOUBLING actually 2.5x of your home value was because you scrimped and saved? Thats bull shit and everyone knows it.

You got greedy, you bought in what many thinking people knew was a bubble, and I am supposed to feel sorry for you? Give me a break. I've paid my own way since I left home at 18. Watched prices go up at ridiculous rates in the early 2000s, listened to friends like you ridicule me for not getting into the market, and I saved, saved, while living in a crappy basement apartment. Bought my first home in 2009 with my husband, conventional mortgage, including 20% down payment. It's smaller than we would like for our family, but that's life. And we can afford it -even if prices dip 10-20%. We make less than $200K. Your claim that everyone who doesn't want to hear your whining bought pre-real estate bubble is just plain wrong. You made bad money decisions. PERIOD.

[Anonymous]

DH just got laid off, I can't work. Previous HHI was $100K, which I felt was RICH!

[Anonymous]

Anonymous wrote:DH just got laid off, I can't work. Previous HHI was $100K, which I felt was RICH!

So sorry PP. You are not alone - this economy has many people hurting. Our family included. Good luck and hang in there. And reach out to your friends and family for emotional support.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I am stunned by the number of posters who've come out of the woodwork to lament that they make $250,000 but are not rich. No one here said you were rich. But you are very comfortable. The bellyaching about not being more comfortable is just plain bizarre. Do you expect folks who make much less than you to empathize?

No but we don't except to hear you bitch about us. What is comfortable? I work 50-60 hours weeks, my wife works 40-50 hour weeks, and its not like we are RICH or comfortable we do what we need to make that amount of money and it doesnt buy you much in this area.

Words fail. Hug your family and please start feeling grateful for all that you have.

You are right, $250 is not rich in this area, but it beats the hell out of my current scenario. I've posted before and I'll do it again. Two educated parents (expensive grad degrees to boot) from educated families. We have three kids. Bought a house we could afford when we had a HHI of $160+. Two older cars (paid for), one week at the beach a year for our vacation, the occasional dinner out. No shopping as a recreation, just clothes and household items as we needed them. Had a bi-weekly cleaning person, a monthly lawn guy, piano lessons for the kids. Nothing extravagant, but all the normal trappings of a middle class life. Fast forward three years and DH is unemployed and I am working part time in retail. Savings gone. Poof. We currently bring in $1,600 per month. That's it. Our credit is shot, we are on food stamps, have no health insurance, and are desperately trying to keep our house. Is this our fault? Bad luck? We thought we were being prudent, thoughtful, and tried to make sound fiscal decisions. We have been knocked down to a level we couldn't fathom before.

Did I ever in a million years think this would be my life? NEVER. I would love for my DH or myself to be able to work a 50 hour work week again so that we could get back on our feet. We are the 99%. And for those of you who think you aren't - you could be. So you may not be able to buy as much as you would like with your current salary of $250 per year, but trust me, things are much much worse for many people.

Totally feel sorry for this pp. What a terrible situation. BUT, having a cleaning lady and lawn guy is NOT middle class. In DC, there is so much money that it is really easy to think that that kind of lifestyle is normal! Someone who can afford to outsource most household work is not middle class. It is not filthy rich, but, in most parts of the country, would not be considered middle class.

[Anonymous]

"But at some point we should all recognize that the key for being comfortable with what we have has to be a conscious decision. There will always be someone with more. You don't have to participate in the race."

NP here. Well said, PP. I know people who would not know the first thing about sacrifice, yet they are the first to try to count others pennies. Guess what? They are sorely disappointed each and every time. No surprise there.

[Anonymous]

My husband and I make slightly less than 250K combined and I certainly feel that we have everything we need to live a normal, happy life in this area. Even though that is the case, I am often worried that we are spending too much on takeout or that things cost more than they should. Perhaps that is a result of the fact that I grew up poor.