Reply to What makes kids so expensive?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]It's not out of touch to note that the household income of 95K in DC isn't enough to buy a house in a good school district.  That is an actual fact of life.  What's out of touch is pretending this gets you anywhere in DC.[/quote]

Someone who has 1.5M in the bank but 95k income has very different experience and constraints than someone who actually has to live on 95k, and plan for a future retirement and college expenses. It's often the case of people who have backstop wealth (family to bail them out, huge savings, etc) they are just unaware of the feeling of BEING they line between truly poor and making it. If we make bad choices or take too big risk, not only do we and our children suffer, but also siblings and out parents we help support. [/quote]

Agree.  Though $1.5m net worth is not the same as "1.5m in the bank".  If it's largely split between retirement and home equity it's not exactly liquid.  And if you don't have the income to support it you can't tap home equity without selling your home.[/quote]

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