$500k is middle class in DC now

[Anonymous]

Y’all laugh but there are actually people who think this: https://www.financialsamurai.com/400k-income/

[Anonymous]

My monthly expenses for a family of four, 1.5mn modest outside beltway NoVa house, two cars.

Mortgage (PITI): 3,500
Utilities: 500
Cleaning and landscaping: 500
Daycare for kid no.2: 1000
Food: 2000
Kids activities for kid no.1: 1000
2 Car maintenance and gas: 500
529 saving: 1000
other expenses: 1000
Total: 9000

Our take home pay after maxing retirement, health insurance and group life insurance: 19,000
Monthly saving: 10,000 for vacations, house remodel, saving,
Gross HHI 350k

We are very fugal, but otherwise feel comfortable. If you can accept public school, 350k can get you there.

[Anonymous]

Anonymous wrote:My monthly expenses for a family of four, 1.5mn modest outside beltway NoVa house, two cars.

Mortgage (PITI): 3,500
Utilities: 500
Cleaning and landscaping: 500
Daycare for kid no.2: 1000
Food: 2000
Kids activities for kid no.1: 1000
2 Car maintenance and gas: 500
529 saving: 1000
other expenses: 1000
Total: 9000

Our take home pay after maxing retirement, health insurance and group life insurance: 19,000
Monthly saving: 10,000 for vacations, house remodel, saving,
Gross HHI 350k

We are very fugal, but otherwise feel comfortable. If you can accept public school, 350k can get you there.

You spend $2000/month on food (!!!) and $1000/month on a child’s activities.

[Anonymous]

Anonymous wrote:

Anonymous wrote:It’s been known as “University of Spoiled Children” for at least 40+ years.

Came here to say exactly this!

University of South Carolina or Southern California?

[Anonymous]

Anonymous wrote:

Anonymous wrote:My monthly expenses for a family of four, 1.5mn modest outside beltway NoVa house, two cars.

Mortgage (PITI): 3,500
Utilities: 500
Cleaning and landscaping: 500
Daycare for kid no.2: 1000
Food: 2000
Kids activities for kid no.1: 1000
2 Car maintenance and gas: 500
529 saving: 1000
other expenses: 1000
Total: 9000

Our take home pay after maxing retirement, health insurance and group life insurance: 19,000
Monthly saving: 10,000 for vacations, house remodel, saving,
Gross HHI 350k

We are very fugal, but otherwise feel comfortable. If you can accept public school, 350k can get you there.

You spend $2000/month on food (!!!) and $1000/month on a child’s activities.

They save 10k/mo pus maxing 401ks..they are incredibly frugal...

[Anonymous]

Mortgage (PITI): 3,500
Utilities: 500
Cleaning and landscaping: 500
Daycare for kid no.2: 1000
Food: 2000
Kids activities for kid no.1: 1000
2 Car maintenance and gas: 500
529 saving: 1000
other expenses: 1000
Total: 9000

This equals $10,000 no?

[Anonymous]

I counted 11k

Not sure how these people are pulling their salaries

[Anonymous]

Yeah it’s 11k

[Anonymous]

Anonymous wrote:

Anonymous wrote:What’s a USC?

University of South Carolina

USC is not South Carolina unless you live in NC, SC and maybe Georgia. To the rest of the world, USC is in California.

[Anonymous]

Anonymous wrote:My monthly expenses for a family of four, 1.5mn modest outside beltway NoVa house, two cars.

Mortgage (PITI): 3,500
Utilities: 500
Cleaning and landscaping: 500
Daycare for kid no.2: 1000
Food: 2000
Kids activities for kid no.1: 1000
2 Car maintenance and gas: 500
529 saving: 1000
other expenses: 1000
Total: 9000

Our take home pay after maxing retirement, health insurance and group life insurance: 19,000
Monthly saving: 10,000 for vacations, house remodel, saving,
Gross HHI 350k

We are very fugal, but otherwise feel comfortable. If you can accept public school, 350k can get you there.

I’m surprised your take home is $19k. At the same gross income level and also maxing out just 1 401k, ours is at most $16k or so. Do you owe taxes at the end of the year?

[Anonymous]

Anonymous wrote:My monthly expenses for a family of four, 1.5mn modest outside beltway NoVa house, two cars.

Mortgage (PITI): 3,500
Utilities: 500
Cleaning and landscaping: 500
Daycare for kid no.2: 1000
Food: 2000
Kids activities for kid no.1: 1000
2 Car maintenance and gas: 500
529 saving: 1000
other expenses: 1000
Total: 9000

Our take home pay after maxing retirement, health insurance and group life insurance: 19,000
Monthly saving: 10,000 for vacations, house remodel, saving,
Gross HHI 350k

We are very fugal, but otherwise feel comfortable. If you can accept public school, 350k can get you there.

How is your take home $19k? At the same gross income, after maxing out just one 401k, we have about $16k. Did you owe any taxes?

[Anonymous]

We are eating Dino nuggets for Easter this year because jet repairs wiped us out.

[Anonymous]

Anonymous wrote:

Anonymous wrote:My monthly expenses for a family of four, 1.5mn modest outside beltway NoVa house, two cars.

Mortgage (PITI): 3,500
Utilities: 500
Cleaning and landscaping: 500
Daycare for kid no.2: 1000
Food: 2000
Kids activities for kid no.1: 1000
2 Car maintenance and gas: 500
529 saving: 1000
other expenses: 1000
Total: 9000

Our take home pay after maxing retirement, health insurance and group life insurance: 19,000
Monthly saving: 10,000 for vacations, house remodel, saving,
Gross HHI 350k

We are very fugal, but otherwise feel comfortable. If you can accept public school, 350k can get you there.

How is your take home $19k? At the same gross income, after maxing out just one 401k, we have about $16k. Did you owe any taxes?

PP here. Sorry our expenses are 11k instead of 9. My brain wasn’t working .

One of us is World Bank so the salary is exempt from US income tax, hence the higher take home

[Anonymous]

Anonymous wrote:USC cost of attendance recently hit $90k, and other colleges aren’t far behind. If you have 3 kids you need to save at minimum $1M in 529s for undergrad. $90,000 x 3 kids x 4 years. Daycare is at minimum $3k/month, so $36k per year per kid of daycare. A house in a good school district is $2M at minimum. And so on.

The middle class has and should always be able to afford the most expensive university in the country with cash! This, tv dinners, and a day at the fair are standard middle class stuff. And a Bugatti, you are not middle class unless you have at least one.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:My monthly expenses for a family of four, 1.5mn modest outside beltway NoVa house, two cars.

Mortgage (PITI): 3,500
Utilities: 500
Cleaning and landscaping: 500
Daycare for kid no.2: 1000
Food: 2000
Kids activities for kid no.1: 1000
2 Car maintenance and gas: 500
529 saving: 1000
other expenses: 1000
Total: 9000

Our take home pay after maxing retirement, health insurance and group life insurance: 19,000
Monthly saving: 10,000 for vacations, house remodel, saving,
Gross HHI 350k

We are very fugal, but otherwise feel comfortable. If you can accept public school, 350k can get you there.

You spend $2000/month on food (!!!) and $1000/month on a child’s activities.

They save 10k/mo pus maxing 401ks..they are incredibly frugal...

Which is not middle class standards