Reply to where do highly academic $ donut hole students go?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]in DC area--$300k-450k is a donut hole family.  2 or more kids.  SFHs run you $750k-2 million. COL is very high here.[/quote]
LOL no. SFHs, investments, retirement savings, and OOS college tuitions are luxuries. You have to prioritize and choose, just like all the families who make less or way less.[/quote]

Agree. A family making between 300-450k is not a donut hole family. We make in that range and we’ve saved money for our kids to go to college. One is in college now and the other will be next year.  We won’t have quite enough from our 529 accounts, but we are able to cash flow the rest because we make enough money to do so.  [/quote]

Sure it is. We are in that range now (but were not always). We saved a lot but not enough to pay $65-80K/year. And while we CAN cash flow remaining, that will basically suck up every penny we have--quite literally-- if DC goes private and out of state (and we are also looking in state but acc to most of you on here we cannot and should not consider the Roanokes, Lynchburgs, etc.). And we do not live lavishly. Old cars that were cheap to begin with. No second home. Still in our starter home. Fly to vacation on miles accrued or stay driving distances.

After taxes and other necessities and being sucked dry for every little thing . . . . we are 1 medical emergency away from financial catastrophe. Something we came very near to actually incurring. So, yeah, I know some of you think this is living large at that salary. And maybe elsewhere it is. And it may be better than a lot and afford us a lot of comfort. But it's not rich and most certainly donut hole b/c we will get not once cent in aid. Anywhere. [/quote]

This makes no sense.  Where is all your money going.  Why did you not save?   You are rich.  [/quote]

+1, this doesn't add up. Maybe huge mortgage. If you have an HHI of 300-450k and a medical emergency would be "catastrophe" and you don't have at least 150-200k socked away for your ONE kid's college by the time they are 18, I have zero tears for you. What do you think people who have incomes of more like 100-150k a year do? They are not homeless. If they can make it work, you have no excuse. Your money is going somewhere. Are you in debt to the mob?[/quote]
+1000

If you lived on $150-200K (before your salary increased), then why did you not save 75%+ of the new salary into 529 and retirement?  Lifestyle creep is a real thing and isn't needed.  Even if you have only been at that salary for 2-5 years, you could have saved enough for college for 1-2 kids and easily cashflow the rest.  Once again, if you didn't allow lifestyle creep to happen.

And anyone who makes 300-400K+ and is "one emergency away from catastrophe" is not very bright with finances
[/quote]

I’m not answer this question multiple times. You can read it. Or not. I dgaf frankly. And you can stuff you ad hominem attacks where the sun doesn’t shine. [/quote]

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