Reply to S/o What do you think a middle class life style looks like?

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Reply to "S/o What do you think a middle class life style looks like?"

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[quote=Anonymous]This is such an interesting question as it's the root of why people spend the way they do. I know people in DC who grew up LMC and are now UMC, each with HHI of around $225-350K. They spend a lot on things like take out, eating out, entertainment, and other convenience items. Some of them are stretching for private schools for the kids. They're not saving for retirement above minimum 401K contributions.

They have this idea that once you're UMC then you can afford all these things. They're not really tracking their expenses, and seem to spend a lot on things that aren't assets. I bite my tongue even though I want to say talk to a financial planner regarding retirement savings.

To answer OP's question, it looks different to each person. Look at what you can afford. DC has a lot of people with family money, so you can't look at the guy sitting next to you with the same job and assume that you can spend $X on something just because he does. He might have a trust fund that he never mentions.[/quote]

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