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Reply to "Keeping up with your family"
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[quote=Anonymous]You and your DH need to have an honest conversation about this. Figure out a comfortable budget and live within it. If he is 100% certain that there will be a large inheritance, maybe you can continue keeping up with the in-laws. But what if there isn't for some reason? A lot of the trappings of upper class lifestyle (second homes, country club memberships, vacations, certain vehicles) have become more expensive in constant dollars, I think. The distance between the top 1% and the rest has become vaster. And there are a lot of smaller items eating into the disposable income, too. My parents had a second home, a sailboat, an airplane, and two kids in private school on one income. We have two incomes and one kid in private school, and none of the rest. We save for retirement and are able to take a spring break trip every year, but after mortgage, utilities, tuition, etc, that pretty much taps out the take-home income. I'm not crying poor by any means, but I don't feel comfortable keeping up with some of my cousins or the other families at DC's school, as I have a long life ahead and don't want to be scrimping in my 80s and 90s. Or working much past 50.[/quote]
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