Reply to Middle class professionals: tell me about your finances

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Well, I feel wealthy. Mid 40s with two kids. No child care payments, vacations 4-5 times a year including to Europe once, eat out regularly, but are frugal in other areas.

Our HHI is under $100k.

But mortgage is $1400 a month and no car payment or debt. We have hundreds of thousands in equity, healthy college savings and well funded retirement. Net worth is $1.8m.[/quote]

You should feel wealthy...you are! Wealth is not defined by HHI. You have assets very few have. Sounds like you have good savings habits and live well within your HHI.

We have high HHI but feel behind in other areas. Have good savings and decent retirement but could do better. Not counting on state colleges since they are getting so competitive (anyone see that article in the WaPo about high achieving kids from MD not getting into to UMD because of the competition). [/quote]
Hence why most Americans will never understand how the truly middle class/poor live. You automatically assume this poster did something to acquire their wealth, when this person likely had financial help from a relative/parent in the form of down payment, debt payments or some other jump start that the average person never receives.[/quote]

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