Rich v Affluent

[Anonymous]

The big differentiators are kids and debt...a couple with no kids, no student loan debt, that has a mostly paid-off mortgage is going to have a much better lifestyle on 200k than the couple with three kids, student loan debt, and a mortgage on 400k.

[Anonymous]

Anonymous wrote:The big differentiators are kids and debt...a couple with no kids, no student loan debt, that has a mostly paid-off mortgage is going to have a much better lifestyle on 200k than the couple with three kids, student loan debt, and a mortgage on 400k.

THIS THIS THIS.

I make 180K; On that, I support a family of three. Money is not tight, but we are (by no means) rich or affluent.

If I were single with my income, I would be affluent. Having a family is an expense -- food, car, insurance, travel...all adds up. Looking at my budget, I would have about 30K/year extra after tax if I was single.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The big differentiators are kids and debt...a couple with no kids, no student loan debt, that has a mostly paid-off mortgage is going to have a much better lifestyle on 200k than the couple with three kids, student loan debt, and a mortgage on 400k.

THIS THIS THIS.

I make 180K; On that, I support a family of three. Money is not tight, but we are (by no means) rich or affluent.

If I were single with my income, I would be affluent. Having a family is an expense -- food, car, insurance, travel...all adds up. Looking at my budget, I would have about 30K/year extra after tax if I was single.

THIS. Was making 170k as a single person a few yrs ago -- it was all trips to NYC; investment portfolios etc. Now with a small child (and daycare bills) - whole different set of concerns.

[Anonymous]

The top 5% of households in DC make $280,000 and up. I'd say it's fair to call people in that percentile affluent.

http://www.dcfpi.org/how-does-your-household-income-compare-to-other-dc-households-try-our-new-online-tool-and-find-out

[Anonymous]

Anonymous wrote:

Anonymous wrote:In DC, any dual income couple in their 30's or older making less than $150k is flat out poor. There is no other way to properly describe that couple. $150k-400k middle. $400-$1 million upper middle. Million plus is affluent. $2 million plus is rich.

http://www.dcfpi.org/interactive-how-does-your-household-income-compare-to-other-dc-households-2-2

So:

1-85% = poor
85-98% = middle class
98-99.9% = upper middle class
99.9%+ = rich

Do you know how ridiculous you sound?

Those stats are for all D.C., not NW. It's ridiculous for a couple that lives in NW and has HHI of $150k to think they are 85% income level by counting bc NE Andy i guarantee any couples who make that in NW do consider themselves poor and rightly so. We are mid-40's - by our mid 30's we were at HHI $600k. I haven't met a couple living in NW that makes less than $150 in my life, other than a year or so after grad school when friends were in their 20's. Describing a family that can't afford to send their kids to private as middle class is foolish- that alone qualifies you as poor.

[Anonymous]

Anonymous wrote:

Anonymous wrote:The big differentiators are kids and debt...a couple with no kids, no student loan debt, that has a mostly paid-off mortgage is going to have a much better lifestyle on 200k than the couple with three kids, student loan debt, and a mortgage on 400k.

THIS THIS THIS.

I make 180K; On that, I support a family of three. Money is not tight, but we are (by no means) rich or affluent.

If I were single with my income, I would be affluent. Having a family is an expense -- food, car, insurance, travel...all adds up. Looking at my budget, I would have about 30K/year extra after tax if I was single.

True. The difference also grows beyond 30k, I am willing to guess, if you adjust for after school, summer camp, and either private school tuition or higher rent / mortgage because you shopped for an address with school quality in mind.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:In DC, any dual income couple in their 30's or older making less than $150k is flat out poor. There is no other way to properly describe that couple. $150k-400k middle. $400-$1 million upper middle. Million plus is affluent. $2 million plus is rich.

http://www.dcfpi.org/interactive-how-does-your-household-income-compare-to-other-dc-households-2-2

So:

1-85% = poor
85-98% = middle class
98-99.9% = upper middle class
99.9%+ = rich

Do you know how ridiculous you sound?

Those stats are for all D.C., not NW. It's ridiculous for a couple that lives in NW and has HHI of $150k to think they are 85% income level by counting bc NE Andy i guarantee any couples who make that in NW do consider themselves poor and rightly so. We are mid-40's - by our mid 30's we were at HHI $600k. I haven't met a couple living in NW that makes less than $150 in my life, other than a year or so after grad school when friends were in their 20's. Describing a family that can't afford to send their kids to private as middle class is foolish- that alone qualifies you as poor.

Excuse me while i go bang my head against a wall.
You don't get it and apparently never will.
There are many, many, many families in their 30s, 40s, 50s and beyond who live on less than this in NW DC.
I know many of them. Lovely, very well educated, professional, well-spoken, well-traveled families.

THE WHOLE FUCKING WORLD IN NW DC DOESN'T WORK IN BIG LAW, GOVERNMENT RELATIONS, INVESTMENT BANKING OR SUB-SPECIALTY MEDICINE!!!!!

how hard is it to understand that?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The big differentiators are kids and debt...a couple with no kids, no student loan debt, that has a mostly paid-off mortgage is going to have a much better lifestyle on 200k than the couple with three kids, student loan debt, and a mortgage on 400k.

THIS THIS THIS.

I make 180K; On that, I support a family of three. Money is not tight, but we are (by no means) rich or affluent.

If I were single with my income, I would be affluent. Having a family is an expense -- food, car, insurance, travel...all adds up. Looking at my budget, I would have about 30K/year extra after tax if I was single.

True. The difference also grows beyond 30k, I am willing to guess, if you adjust for after school, summer camp, and either private school tuition or higher rent / mortgage because you shopped for an address with school quality in mind.

PP here. I included afterschool activities, but not camp. No tuition, though my house is more expensive by about 30% because of the schools, but my costs are low since I have been here for 20 years. But, if I were able to move to a place with crappy schools (e.g., Alex. City), I could save 2K/month.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:In DC, any dual income couple in their 30's or older making less than $150k is flat out poor. There is no other way to properly describe that couple. $150k-400k middle. $400-$1 million upper middle. Million plus is affluent. $2 million plus is rich.

http://www.dcfpi.org/interactive-how-does-your-household-income-compare-to-other-dc-households-2-2

So:

1-85% = poor
85-98% = middle class
98-99.9% = upper middle class
99.9%+ = rich

Do you know how ridiculous you sound?

Those stats are for all D.C., not NW. It's ridiculous for a couple that lives in NW and has HHI of $150k to think they are 85% income level by counting bc NE Andy i guarantee any couples who make that in NW do consider themselves poor and rightly so. We are mid-40's - by our mid 30's we were at HHI $600k. I haven't met a couple living in NW that makes less than $150 in my life, other than a year or so after grad school when friends were in their 20's. Describing a family that can't afford to send their kids to private as middle class is foolish- that alone qualifies you as poor.

Excuse me while i go bang my head against a wall.
You don't get it and apparently never will.
There are many, many, many families in their 30s, 40s, 50s and beyond who live on less than this in NW DC.
I know many of them. Lovely, very well educated, professional, well-spoken, well-traveled families.

THE WHOLE FUCKING WORLD IN NW DC DOESN'T WORK IN BIG LAW, GOVERNMENT RELATIONS, INVESTMENT BANKING OR SUB-SPECIALTY MEDICINE!!!!!

how hard is it to understand that?

+ 1 I can't believe the bubble some of these entitled, ignorant DCUM posters live in!

So not being able to afford the $20k per kid to send them to private school makes you "poor"?! Guess what - 95% of the people can't afford that. Are you saying all Americans, other than the overpaid lawyers and sub-specialty doctors, are poor?

What about the well-educated accountants....architects.....writers.....microbiologists.....who average less than $100,000? Are they all poor? What about me - $110,000 in my 50s, with season theater tickets, biweekly maid service, and trips to Europe? (I posted before.) Am I poor?

What about my friend, who is an assistant professor and earns less than $100,000? She's in Spain right now, on vacation, and drives a premium car. Is she poor?

What about another friend, an editor, who together with her husband pulls in $120,000? Each of her four kids have their own IPhone and Ipad, and the family just went to Disneyworld this week. Are they poor?

Leave your over privileged little enclave and see what middle-class is. YOU, on the other hand, are rich.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:In DC, any dual income couple in their 30's or older making less than $150k is flat out poor. There is no other way to properly describe that couple. $150k-400k middle. $400-$1 million upper middle. Million plus is affluent. $2 million plus is rich.

http://www.dcfpi.org/interactive-how-does-your-household-income-compare-to-other-dc-households-2-2

So:

1-85% = poor
85-98% = middle class
98-99.9% = upper middle class
99.9%+ = rich

Do you know how ridiculous you sound?

Those stats are for all D.C., not NW. It's ridiculous for a couple that lives in NW and has HHI of $150k to think they are 85% income level by counting bc NE Andy i guarantee any couples who make that in NW do consider themselves poor and rightly so. We are mid-40's - by our mid 30's we were at HHI $600k. I haven't met a couple living in NW that makes less than $150 in my life, other than a year or so after grad school when friends were in their 20's. Describing a family that can't afford to send their kids to private as middle class is foolish- that alone qualifies you as poor.

Excuse me while i go bang my head against a wall.
You don't get it and apparently never will.
There are many, many, many families in their 30s, 40s, 50s and beyond who live on less than this in NW DC.
I know many of them. Lovely, very well educated, professional, well-spoken, well-traveled families.

THE WHOLE FUCKING WORLD IN NW DC DOESN'T WORK IN BIG LAW, GOVERNMENT RELATIONS, INVESTMENT BANKING OR SUB-SPECIALTY MEDICINE!!!!!

how hard is it to understand that?

+ 1 I can't believe the bubble some of these entitled, ignorant DCUM posters live in!

So not being able to afford the $20k per kid to send them to private school makes you "poor"?! Guess what - 95% of the people can't afford that. Are you saying all Americans, other than the overpaid lawyers and sub-specialty doctors, are poor?

What about the well-educated accountants....architects.....writers.....microbiologists.....who average less than $100,000? Are they all poor? What about me - $110,000 in my 50s, with season theater tickets, biweekly maid service, and trips to Europe? (I posted before.) Am I poor?

What about my friend, who is an assistant professor and earns less than $100,000? She's in Spain right now, on vacation, and drives a premium car. Is she poor?

What about another friend, an editor, who together with her husband pulls in $120,000? Each of her four kids have their own IPhone and Ipad, and the family just went to Disneyworld this week. Are they poor?

Leave your over privileged little enclave and see what middle-class is. YOU, on the other hand, are rich.

Yes dear, you are poor...and sad, because you keep posting about this. Give it a rest. The argument that your poor friends have iPhones and iPads for their kids and went to Disney is a weak one. I work with many people who live in Section 8, are on Medicaid and food stamps, and have iPhones for themselves and their kids. They go to Disney with their tax refunds.

[Anonymous]

I agree. Rich in my opinion means you very very rarely ever need to consider the cost of something. You have SO much money, it almost becomes a nonissue.

We have a HHI > 600k, savings (excluding house) > 3M, and I don't consider us rich.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:In DC, any dual income couple in their 30's or older making less than $150k is flat out poor. There is no other way to properly describe that couple. $150k-400k middle. $400-$1 million upper middle. Million plus is affluent. $2 million plus is rich.

http://www.dcfpi.org/interactive-how-does-your-household-income-compare-to-other-dc-households-2-2

So:

1-85% = poor
85-98% = middle class
98-99.9% = upper middle class
99.9%+ = rich

Do you know how ridiculous you sound?

Those stats are for all D.C., not NW. It's ridiculous for a couple that lives in NW and has HHI of $150k to think they are 85% income level by counting bc NE Andy i guarantee any couples who make that in NW do consider themselves poor and rightly so. We are mid-40's - by our mid 30's we were at HHI $600k. I haven't met a couple living in NW that makes less than $150 in my life, other than a year or so after grad school when friends were in their 20's. Describing a family that can't afford to send their kids to private as middle class is foolish- that alone qualifies you as poor.

Excuse me while i go bang my head against a wall.
You don't get it and apparently never will.
There are many, many, many families in their 30s, 40s, 50s and beyond who live on less than this in NW DC.
I know many of them. Lovely, very well educated, professional, well-spoken, well-traveled families.

THE WHOLE FUCKING WORLD IN NW DC DOESN'T WORK IN BIG LAW, GOVERNMENT RELATIONS, INVESTMENT BANKING OR SUB-SPECIALTY MEDICINE!!!!!

how hard is it to understand that?

+ 1 I can't believe the bubble some of these entitled, ignorant DCUM posters live in!

So not being able to afford the $20k per kid to send them to private school makes you "poor"?! Guess what - 95% of the people can't afford that. Are you saying all Americans, other than the overpaid lawyers and sub-specialty doctors, are poor?

What about the well-educated accountants....architects.....writers.....microbiologists.....who average less than $100,000? Are they all poor? What about me - $110,000 in my 50s, with season theater tickets, biweekly maid service, and trips to Europe? (I posted before.) Am I poor?

What about my friend, who is an assistant professor and earns less than $100,000? She's in Spain right now, on vacation, and drives a premium car. Is she poor?

What about another friend, an editor, who together with her husband pulls in $120,000? Each of her four kids have their own IPhone and Ipad, and the family just went to Disneyworld this week. Are they poor?

Leave your over privileged little enclave and see what middle-class is. YOU, on the other hand, are rich.

Yes dear, you are poor...and sad, because you keep posting about this. Give it a rest. The argument that your poor friends have iPhones and iPads for their kids and went to Disney is a weak one. I work with many people who live in Section 8, are on Medicaid and food stamps, and have iPhones for themselves and their kids. They go to Disney with their tax refunds.

You are crazy. According to you, 98% of Americans are poor, even the ones with $1 million net worth and who enjoy international travel, maid service, and opera tickets.

And I'm not the only one posting about this. You are an out-of-touch snob.

[Anonymous]

Anonymous wrote:I agree. Rich in my opinion means you very very rarely ever need to consider the cost of something. You have SO much money, it almost becomes a nonissue.

We have a HHI > 600k, savings (excluding house) > 3M, and I don't consider us rich.

You agree that a college professor currently vacationing in Spain, owns a four-bedroom 3000 SF colonial, and drives a Lexus, is "poor"?

[Anonymous]

Anonymous wrote:

Anonymous wrote:I agree. Rich in my opinion means you very very rarely ever need to consider the cost of something. You have SO much money, it almost becomes a nonissue.

We have a HHI > 600k, savings (excluding house) > 3M, and I don't consider us rich.

You agree that a college professor currently vacationing in Spain, owns a four-bedroom 3000 SF colonial, and drives a Lexus, is "poor"?

Not everything is rich or poor, middle class is in between

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I agree. Rich in my opinion means you very very rarely ever need to consider the cost of something. You have SO much money, it almost becomes a nonissue.

We have a HHI > 600k, savings (excluding house) > 3M, and I don't consider us rich.

You agree that a college professor currently vacationing in Spain, owns a four-bedroom 3000 SF colonial, and drives a Lexus, is "poor"?

Not everything is rich or poor, middle class is in between

Agree! The college professor is middle class. But the idea that people with grad degrees earning around $100k and enjoying many niceties of life are "poor" is indicative of the out-of-touch bubble that some DCUMers live in.