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

[Anonymous]

Anonymous wrote:

Anonymous wrote:PP, you're not rich unless you're putting A LOT away in investments.

again, semantics.

but someone making $250K+ is far from the poverty line no matter which way you slice it. What you are spending your money on and whether you live in a High COL area doesn't matter.

Now, our generation is getting screwed by how much more expensive everything is nowadays. Retirement and Health Care and College Costs - oh my. But, sadly, yes, being able to pay for these things, even if it is a struggle, IS a luxury these days. I honestly consider myself blessed to have ANY money in savings, retirement and a little set aside for our child's college. We're still at a point where we don't have to dig into these accounts to make our bills monthly - THAT is a blessing. It may seem the norm around here for everyone to be able to afford to max their 401Ks and have a nanny and a housekeeper, but it is NOT the norm for the nation. Not by a longshot.

Martyr.

[Anonymous]

Ho boy. Listen, different markets, different costs of living. It is quite feasible that a family making $250K in the DC area is having a hard time of it if:

1. They both have high pressure jobs and therefore have to pay for flexible child care (eg. nanny)
2. Have graduate school (law; med; whatever) and undergrad debt
3. Want to live close to where they work so they're not on the road an hour each way (cue very expensive housing!) and want something better than a 2BR condo (we're looking at probably $3000/mo rent or mortgage)
4. Have two or more children, so are putting away for college each month
5. Want to travel with their family of 4 to visit relatives over the holidays, or host relatives at their place (we're not talking four-star accommodations, here; just regular stuff)

I'd say the #1 cost issues here are higher education, housing, and child care.

[Anonymous]

This poster is not saying they are poor, or that they live a horrible life. Just that they live paycheck to paycheck once they pay bills (including nanny) and save a little for retirement. And this proves what?

This is from a little ways back, but in my experience, the concept of "living paycheck to paycheck" is NOT compatible with paying household employees and saving for retirement. "Paycheck to paycheck" means "I wonder which credit card I'm going to skip this month and incur crazy late fees and interest rate hikes" or "Which do you think will let us go longer without paying, the gas company or the electric company."

[Anonymous]

Anonymous wrote:Ho boy. Listen, different markets, different costs of living. It is quite feasible that a family making $250K in the DC area is having a hard time of it if:

1. They both have high pressure jobs and therefore have to pay for flexible child care (eg. nanny)
2. Have graduate school (law; med; whatever) and undergrad debt
3. Want to live close to where they work so they're not on the road an hour each way (cue very expensive housing!) and want something better than a 2BR condo (we're looking at probably $3000/mo rent or mortgage)
4. Have two or more children, so are putting away for college each month
5. Want to travel with their family of 4 to visit relatives over the holidays, or host relatives at their place (we're not talking four-star accommodations, here; just regular stuff)

I'd say the #1 cost issues here are higher education, housing, and child care.

Yes, if you live a life of luxury while not making a salary that supports a life of luxury, you will have a hard time making it. Guess what? Not everyone gets to have a short commute and family vacations and large, downtown apartments/condos while paying off student debt and saving for your kids' colleges. Those aren't needs. If you want to pursue that, great. Good for you. But recognize what that costs and how much you make and the potential disconnect between these two things.

[Anonymous]

I give up - I'm sure these people complaining about how expensive it is to live here are the same people who complain about people's entitled attitudes. Hypocrites.

[Anonymous]

Anonymous wrote:

Anonymous wrote:
Mortgage and daycare alone cost us $7500 a month.

So you're buying a huge house and putting your kids in luxo daycare.

I could spend $1000 every night on a gold-flaked chocolate dessert. I choose not to.

exactly

Who told you to buy a home that sucks up 75% of your income?

just dumb

[Anonymous]

Anonymous wrote:

Anonymous wrote:
Mortgage and daycare alone cost us $7500 a month.

So you're buying a huge house and putting your kids in luxo daycare.

I could spend $1000 every night on a gold-flaked chocolate dessert. I choose not to.

The point is that I'm not spending my cash on cocaine and pilates. Yes, we choose to spend almost $2800 a month on our nanny, but we're not lighting $100 bills on fire.

[Anonymous]

Interesting how folks have completely disregarded the whole point of this thread. 10% of families in DC are trying to make it on $11,000 or less A YEAR. Maybe you're not living the lifestyle you hoped. Maybe you don't "feel rich". But if you're making 6 figures you have it pretty damn good compared to a lot of people. That's the point, in a nutshell.

Is it really so difficult to be grateful for what you have once in a while, instead of bitching and moaning about what you DON'T have?

Just a thought as we head into the Thanksgiving season. That is all.

[Anonymous]

Anonymous wrote:This thread is absolutely amazing. I am 60, have been retired for 5 years, and maxed out on my annual compensation in 2006 when I made $130K. In retirement, I now have the easiest job of my life, but make only $75K. Never in my wildest imagination did I ever think I would ever make $200K, much less $400K. What in heavens name do you guys do???

In spite of having apparently lived my entire life in the "slow lane", I consider myself truly blessed. I live in a 3,000 square foot house with an inground swimming pool, put two kids through college and this year took 4 decent vacations (Orlando, Las Vegas, Hilton Head, and Punta Cana)

Where does all of your money go??

As a 30-year-old, I am really upset that you're completely out of touch with the realities younger people face these days.

Aren't you aware that real wages have been stagnant for decades, meaning we make less now for more work than you ever did? Aren't you aware that education and housing costs have gone through the roof? Aren't you aware that income inequality is much worse now than it ever was during your working years?

You better hope your two kids can put THEIR kids through college, but I doubt they will be able to. More likely, your grandchildren will have to rack up $100K+ debt to graduate.

Welcome to the world you baby boomers bequeathed us. You'll pardon us for not thanking you.

[Anonymous]

Anonymous wrote:Interesting how folks have completely disregarded the whole point of this thread. 10% of families in DC are trying to make it on $11,000 or less A YEAR. Maybe you're not living the lifestyle you hoped. Maybe you don't "feel rich". But if you're making 6 figures you have it pretty damn good compared to a lot of people. That's the point, in a nutshell.

Is it really so difficult to be grateful for what you have once in a while, instead of bitching and moaning about what you DON'T have?

Just a thought as we head into the Thanksgiving season. That is all.

I AM grateful. I can make ends meet on our $250K + salary. I'm just explaining to people with lower income that what they perceive as "all that money" can easily be accounted for by housing, childrens' expenses and savings.

[Anonymous]

Since when is savings considered an expense?

[Anonymous]

fuck you all I get free stuff - OWS

[Anonymous]

Anonymous wrote:Interesting how folks have completely disregarded the whole point of this thread. 10% of families in DC are trying to make it on $11,000 or less A YEAR. Maybe you're not living the lifestyle you hoped. Maybe you don't "feel rich". But if you're making 6 figures you have it pretty damn good compared to a lot of people. That's the point, in a nutshell.

Is it really so difficult to be grateful for what you have once in a while, instead of bitching and moaning about what you DON'T have?

Just a thought as we head into the Thanksgiving season. That is all.

No, you wanted to stir the pot.

Most of us that make good money are very grateful. However, we have every right to vent about our frustrations too.

[Anonymous]

Anonymous wrote:Since when is savings considered an expense?

Since pensions went the way of the dodo bird.

[Anonymous]

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.

I feel this way too. We have a decent income, but do we over spend? Absolutely not! You should never ever believe you will always have sunny days - dark days will happen, and you'd better be prepared for them.