Reply to Study shows that 350k/year is barely scrapping by as middle class

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Reply to "Study shows that 350k/year is barely scrapping by as middle class"

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[quote=Anonymous]Umm...wow, this is an interesting and IMHO not an accurate article.

It doesn't take into account expenses that are "needs" versus "wants".

I live in an affluent DC suburb (and only because we bought a foreclosure back in 99 and live in older house); we currently make $200K with two FT working parents (although that is not what we always earned).  We sometimes have a hard time making ends meet..but that is usually of our own doing....with more "wants" than "needs".  For example, Netflix and Cable subscriptions, new car (when a used car is ok), kids going on overseas school trips, travel sports team expenses, etc. -- these are all "wants" and not "needs".

The problem I see is the pressure in this and other affluent areas to "keep up with the Joneses" -- if a school class is going on an overseas trip you will "sacrifice" so that your child can go so as not to feel excluded.

I consider myself to be Middle Class in an affluent area -- I use coupons, shop at Marshalls, drive an average cost car (Mazda), stay at average cost hotels, take low cost vacations (and only every other year), rarely go out to dinner, rarely get mani/pedi, kids at public school,  etc.  But I can still afford the "wants" as needed.

BUT, putting away a certain amount for savings/retirement (a "need") while at the same time affording the "wants" has proven elusive.  But that has been a "choice" - a choice to pick some wants over some needs.

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