Reply to Half of six-figure earners live paycheck to paycheck

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[quote=Anonymous]I never understand this. Our HHI is between 120 and 150k. Money is tight but we still put away money every month for retirement and college savings, plus some money going into emergency funds. Do we have a ton of disposable income afterwards? No. Do I consider us to be living paycheck to paycheck? Also no -- we have a 30k in a reserve fund in case of emergencies, over 300k in 401ks, a pension that will fully vest in 7 years, and another 10k in college funds (we need to work on this one but we only have one kid and don't want to over-save for college because our mortgage will be paid off by then so we may be able to just pay out of pocket since we'll still be working).

We're not rich. We currently need to replace a car and we'd prefer not to finance it unless we got a 0% loan (unlikely in current lending environment, though we did this last time), so we're building out that reserve fund and looking for a decent used care for 20-25k. I am sure this is different than the many people on DCUM who will just happily go buy a 50k SUV, or finance one, without thinking much about it. But I don't think that means we live paycheck to paycheck. It means we have to budget and we have to sacrifice in some areas in order to afford certain things.

We're middle class. That's what that means.[/quote]

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