Study shows that 350k/year is barely scrapping by as middle class

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My God, this is a breathtakingly stupid thread.

I agree, is is stupid that people making 350k/ year consider themselves MC.

Not PP but I keep coming back to laugh at the people here about to pop a blood vessel arguing that $350K isn't UMC/UC because they are saving thousands upon thousands a year and have no money for white lines and hookers.

I’m the person you quoted that finds it stupid, and personally, it doesn’t make me laugh. It just shows me how clueless the UC is. It’s frustrating and insulting to those of us that ARE the struggling MC. (Own the actual average priced house of ~200k, make the actual median wage of 60k, send kids to public school, barely save for retirement, live paycheck to paycheck with no backup, do a road trip to somewhere a few hours away for vacation if you’re even able to afford one this year, etc...) if the MC had the lifestyle some of these posters are complaining about we wouldn’t have so many people feeling left behind and angry in our country today, and might actually feel like their kids will do better than them and move up the ladder.

https://www.usatoday.com/story/money/personalfinance/2013/10/24/retirement-health-care-social-security/3169827/ many Americans don’t expect to retire

(I only cite the article for the statistics, not this BS “oh everyone can save and have a plan!” Because no, if everyone just saved that would cause a recession).

Yep, these upperclass Soul cyclers spinning away their organic greens and outbidding each other on walkable sh$* shacks are needlessly burning through so much cash that they are clueless how ANYONE could SURVIVE on less than 200k. They are just the new version of Marie Antoinette. This is the reason we got trump yet still they carry on insulting most Americans with articles like Op posted.

Yup coastal
Liberal elites to the T.

Marie Antoinette = fat flyover housewives living in 3,000 square foot homes, driving a gas guzzler SUV and not even having a job.

Lol nope they should be giving these fools lessons if they are living so large and happy on 1/2 to 1/4 of 350K-they are obviously better at math. Those twice yearly ‘destination vacation’ flights entirely undermine the supposed carbon neutral walkability smugness you so gloriously illustrate.

Just Stop and think how unlikely it is that all the ways you choose to spend time/money are somehow ethically or morally superior to flyover mom’s vs just a result of your own delusional rationalizations. This is how we overcome the Trump ‘revolution.’

[Anonymous]

We are in this ballpark for HHI and the budget isn’t terribly off base. It’s just the tone that’s so wrong. I tell my kids everyday that we are incredibly blessed and so fortunate to have what we have. It’s a matter of perspective.

Biggest difference is that their childcare+preschool is roughly equal to my parochial school tuition. And that’s absolutely a luxury.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My God, this is a breathtakingly stupid thread.

I agree, is is stupid that people making 350k/ year consider themselves MC.

Not PP but I keep coming back to laugh at the people here about to pop a blood vessel arguing that $350K isn't UMC/UC because they are saving thousands upon thousands a year and have no money for white lines and hookers.

I’m the person you quoted that finds it stupid, and personally, it doesn’t make me laugh. It just shows me how clueless the UC is. It’s frustrating and insulting to those of us that ARE the struggling MC. (Own the actual average priced house of ~200k, make the actual median wage of 60k, send kids to public school, barely save for retirement, live paycheck to paycheck with no backup, do a road trip to somewhere a few hours away for vacation if you’re even able to afford one this year, etc...) if the MC had the lifestyle some of these posters are complaining about we wouldn’t have so many people feeling left behind and angry in our country today, and might actually feel like their kids will do better than them and move up the ladder.

https://www.usatoday.com/story/money/personalfinance/2013/10/24/retirement-health-care-social-security/3169827/ many Americans don’t expect to retire

(I only cite the article for the statistics, not this BS “oh everyone can save and have a plan!” Because no, if everyone just saved that would cause a recession).

Yep, these upperclass Soul cyclers spinning away their organic greens and outbidding each other on walkable sh$* shacks are needlessly burning through so much cash that they are clueless how ANYONE could SURVIVE on less than 200k. They are just the new version of Marie Antoinette. This is the reason we got trump yet still they carry on insulting most Americans with articles like Op posted.

Yup coastal
Liberal elites to the T.

Marie Antoinette = fat flyover housewives living in 3,000 square foot homes, driving a gas guzzler SUV and not even having a job.

Lol nope they should be giving these fools lessons if they are living so large and happy on 1/2 to 1/4 of 350K-they are obviously better at math. Those twice yearly ‘destination vacation’ flights entirely undermine the supposed carbon neutral walkability smugness you so gloriously illustrate.

Just Stop and think how unlikely it is that all the ways you choose to spend time/money are somehow ethically or morally superior to flyover mom’s vs just a result of your own delusional rationalizations. This is how we overcome the Trump ‘revolution.’

Are you drunk?

[Anonymous]

Anonymous wrote:

Anonymous wrote:Middle class people do not own $1.8m houses. Nor do they spend $24,000 on preschool. Or $2,000 a month on food.

What a stupid article.

Assuming preschool means daycare for a 4 year old, $24k is about right inside beltway.

If it’s 3 days a week with limited hours yeah that’s wrong.

We pay more like $14000 for full day preschool in a wealthy "inside the beltway" area.

[Anonymous]

We make this amount. 1 income. SAHM wife. We live as if we are making 150K and we live pretty well in UpCounty MoCo. We have couple friends making this amount with both DH and DW working making the same amount (Managers, Feds, IT professionals) and they are buying nearly 2 million dollar homes. We are certain that they have very little savings compared to us (300K home). Do they think they can recoup the cost by selling their house? Is that it? I cannot understand this math.

[Anonymous]

Anonymous wrote:We make this amount. 1 income. SAHM wife. We live as if we are making 150K and we live pretty well in UpCounty MoCo. We have couple friends making this amount with both DH and DW working making the same amount (Managers, Feds, IT professionals) and they are buying nearly 2 million dollar homes. We are certain that they have very little savings compared to us (300K home). Do they think they can recoup the cost by selling their house? Is that it? I cannot understand this math.

You are not in the same situation as your friends, there are a significant number of costs they have that you don’t. But $2M home is a stretch for 350k HHI unless you have significant money to increase the down payment. Perhaps from sale of a previous home or other windfall. But I’m sure if your friends are contributing to their retirement accounts and 529s they will be just fine too.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We make this amount. 1 income. SAHM wife. We live as if we are making 150K and we live pretty well in UpCounty MoCo. We have couple friends making this amount with both DH and DW working making the same amount (Managers, Feds, IT professionals) and they are buying nearly 2 million dollar homes. We are certain that they have very little savings compared to us (300K home). Do they think they can recoup the cost by selling their house? Is that it? I cannot understand this math.

You are not in the same situation as your friends, there are a significant number of costs they have that you don’t. But $2M home is a stretch for 350k HHI unless you have significant money to increase the down payment. Perhaps from sale of a previous home or other windfall. But I’m sure if your friends are contributing to their retirement accounts and 529s they will be just fine too.

What I want to know is why someone would spend $2 million on an upcounty home- yikes! Not likely to be a good return on that investment. Do they all have godawful 6000 sqft McMansions? You really have to try hard to spend that much out there.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We make this amount. 1 income. SAHM wife. We live as if we are making 150K and we live pretty well in UpCounty MoCo. We have couple friends making this amount with both DH and DW working making the same amount (Managers, Feds, IT professionals) and they are buying nearly 2 million dollar homes. We are certain that they have very little savings compared to us (300K home). Do they think they can recoup the cost by selling their house? Is that it? I cannot understand this math.

You are not in the same situation as your friends, there are a significant number of costs they have that you don’t. But $2M home is a stretch for 350k HHI unless you have significant money to increase the down payment. Perhaps from sale of a previous home or other windfall. But I’m sure if your friends are contributing to their retirement accounts and 529s they will be just fine too.

What I want to know is why someone would spend $2 million on an upcounty home- yikes! Not likely to be a good return on that investment. Do they all have godawful 6000 sqft McMansions? You really have to try hard to spend that much out there.

Actually, decent homes are running between 1/2 million and upto 700K. But some of these are truly huge. I cannot even imagine cleaning, heating and cooling it. Dear God!!! They are not McMansions, because they are truly gorgeous, but they have around 7-8 bedrooms and 7-8 full bathrooms. They are great for a large brood but not really for 3-4 people families. Is the lure the resale value? They are zoned to good schools though. Ours aren't.

[Anonymous]

You all are unbelievable! Can't make on $350,000?
I'm on the Eastern Shore of Maryland now.
One of Mom's caregivers works three jobs.

She told me she is thinking of working a 4th job as
she wants her daughter in private middle school.

Main job--day care worker $10.00 per hour
Second job--dementia wing lock down unit worker $10.00 per hour
Third job--private caregiver for Mom who has alzheimers
$18.00 per hour

Daycare worker (40 hours per week) $20,800
Assisted living demenita worker (18 hours per week) $9360
Private duty caregiver for Mom (17 hours per week) $15.912

Gross pay per year $46,072
Hours worked per week 76

I'm getting to give her a raise to go to $19 per hour.
She works one overnight shift with Mom from 9:00 pm
until 7:00 am and then she works one weekend
shift with mom from 2:00 pm until 9:00 pm.

There are 4 private middle schools in the area. One is
Catholic, one is Christian, and the other two are
alternative. She said if she has to she will
take on a fourth job to get her kid in private middle school.

Public middle schools in this area are abysmal.

I told her I thought some of the schools might
have sliding scales.

Again.....you all are whiners if you can't make
it on $350,000 on a 40 hour work week.

This woman's story is the story of much of middle
America.

PS. This woman isn't jetting off on the exotic vacations
that DCUM loves.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My God, this is a breathtakingly stupid thread.

I agree, is is stupid that people making 350k/ year consider themselves MC.

Not PP but I keep coming back to laugh at the people here about to pop a blood vessel arguing that $350K isn't UMC/UC because they are saving thousands upon thousands a year and have no money for white lines and hookers.

I’m the person you quoted that finds it stupid, and personally, it doesn’t make me laugh. It just shows me how clueless the UC is. It’s frustrating and insulting to those of us that ARE the struggling MC. (Own the actual average priced house of ~200k, make the actual median wage of 60k, send kids to public school, barely save for retirement, live paycheck to paycheck with no backup, do a road trip to somewhere a few hours away for vacation if you’re even able to afford one this year, etc...) if the MC had the lifestyle some of these posters are complaining about we wouldn’t have so many people feeling left behind and angry in our country today, and might actually feel like their kids will do better than them and move up the ladder.

https://www.usatoday.com/story/money/personalfinance/2013/10/24/retirement-health-care-social-security/3169827/ many Americans don’t expect to retire

(I only cite the article for the statistics, not this BS “oh everyone can save and have a plan!” Because no, if everyone just saved that would cause a recession).

Yep, these upperclass Soul cyclers spinning away their organic greens and outbidding each other on walkable sh$* shacks are needlessly burning through so much cash that they are clueless how ANYONE could SURVIVE on less than 200k. They are just the new version of Marie Antoinette. This is the reason we got trump yet still they carry on insulting most Americans with articles like Op posted.

Yup coastal
Liberal elites to the T.

Yup, limousine liberals.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:A fool and his money is soon parted.

Yes, some people can earn 350K, but how many people can keep and grow it?

350K is UMC for savvy people and wealthy for savvy and frugal people. It is MC for someone who had unexpected catastrophe (illness, hurricanes, special needs) or someone who is incredibly incompetent in money management.

Do you consider having children and requiring legal on the books childcare to be incompetence? What about the $1,200 a month you’re supposed to save per kid for college? Or federal taxes? Do all of these things scream incompetence to you?

MC and LC cannot afford all of these things. UMC means having kids and being able to afford legal, quality childcare. 1,200 a month for college per child is not what college costs. Most people will look at state college with 10K tuition/per year and expect their kids to work and also save for college. These are not poor kids, these are solidly MC kids. You are saving a quarter million per child for education? Dude - you are solidly UMC or UC. No one saves 50k a year for college. Most people are lucky to earn that much.

This is the reality for most middle class Americans.

[Anonymous]

Anonymous wrote:You all are unbelievable! Can't make on $350,000?
I'm on the Eastern Shore of Maryland now.
One of Mom's caregivers works three jobs.

She told me she is thinking of working a 4th job as
she wants her daughter in private middle school.

Main job--day care worker $10.00 per hour
Second job--dementia wing lock down unit worker $10.00 per hour
Third job--private caregiver for Mom who has alzheimers
$18.00 per hour

Daycare worker (40 hours per week) $20,800
Assisted living demenita worker (18 hours per week) $9360
Private duty caregiver for Mom (17 hours per week) $15.912

Gross pay per year $46,072
Hours worked per week 76

I'm getting to give her a raise to go to $19 per hour.
She works one overnight shift with Mom from 9:00 pm
until 7:00 am and then she works one weekend
shift with mom from 2:00 pm until 9:00 pm.

There are 4 private middle schools in the area. One is
Catholic, one is Christian, and the other two are
alternative. She said if she has to she will
take on a fourth job to get her kid in private middle school.

Public middle schools in this area are abysmal.

I told her I thought some of the schools might
have sliding scales.

Again.....you all are whiners if you can't make
it on $350,000 on a 40 hour work week.

This woman's story is the story of much of middle
America.

PS. This woman isn't jetting off on the exotic vacations
that DCUM loves.

She needs to move ASAP. My cleaning lady makes $30-$40 an hour. She has been in this country for only 6 years and actually just got a housekeeper job at that rate for 3 days a week.

[Anonymous]

What do people mean a about liberal elites? Usually it is white people with lots of money doing non essential jobs, being bad for environment, who can't cook, capitalists.

I don't see a POC immigrant with college education who feels that they are middle class on this income.

The entitlement is usually a white thing...something you see in Trump supporters.

[Anonymous]

Anonymous wrote:What do people mean a about liberal elites? Usually it is white people with lots of money doing non essential jobs, being bad for environment, who can't cook, capitalists.

I don't see a POC immigrant with college education who feels that they are middle class on this income.

The entitlement is usually a white thing...something you see in Trump supporters.

Hillary lost. Seek help.

[Anonymous]

Looks like aoc is barely scrapping by

https://www.marketwatch.com/story/ocasio-cortezs-future-budget-shows-just-how-fast-350000-a-year-can-run-out-2019-10-21