Reply to 200k HHI is just getting by Six-Figure Salary No Longer Means You're Rich 5k leftover see this chart

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Reply to "200k HHI is just getting by Six-Figure Salary No Longer Means You're Rich 5k leftover see this chart"

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[quote=Anonymous]$$ management is all about priorities and choices.

If you live in a high COL city like SF and DC, then you have many things to consider. Namely, what are your personal needs and wants, and what are you willing to sacrifice to get them? What can you live with?

The $200 HHI family with one kid could very easily move to two bedroom apartment in this area with a good school district and pay less than $3k per month, if schools w/ high test scores is a top priority. They may even be able to buy in that area. They may, however, need to sacrifice in their commute time, living space, and/or retirement savings to achieve this.

The trick is to find the best balance of priorities. Me and DH make about $300HHI and we feel squeezed. But this is by choice. We decided that commute and retirement savings were our top priorities. We wanted to spend the least amount of time commuting as possible so we can spend that time with family, so we paid a heavy premium for our location. We need to save for retirement since SS will probably be gone and so our kids don't have the float us as adults, like we have to float our parents. Schools came next on the priority list. As both DH and I grew up relatively poor, attended the equivalent of title one schools as kids, and now are doing very well for ourselves, we believe GS grades and high test scores in schools in general are highly overrated when it comes to school quality. Parent's education (mother's really) is the #1 success factor when it comes kids academic performance.  Next is commitment from the administration/principal. Our kids are in a "mid-ranged" 4-7 GS schools and are doing very well. Our opinion and experience, and not judging any elses. Not saying our way is the right way, but this was the thought process we used in determining our priorities. Hopefully this helps someone.[/quote]

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