Reply to What is Middle Class....Really?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]

I think you need to reexamine your life.  You sound mean and angry.  What's wrong?  Upset you don't make $350k/year?[/quote]

Ha, not at all. I'm not actually the OP so I have no skin in the game, I just stepped in because the claim that a family that makes $350,000 a year couldn't afford to fly first class to Europe unless they had an inheritance was so laughable I had to say something[/quote]

I'm not the idiot who keeps insulting the other poster about her 100k income, but seriously, a family with HHI of 350k cannot afford a first class trip to Europe without outside help, saving for years, or running out of money for other things. In this area, 350k will get you a middle class lifestyle, nothing more. Expenses have gone up, and a 6 figure income doesn't get you much. To the people making less than 250k in this or other hcol area, do you have everything a middle class lifestyle provides without struggling? A family of at least 4, 3-4 bedroom house in a nice, safe neighborhood zoned to good schools, couple of moderate vacations a year, able to help with college because expenses have risen astronomically?[/quote]

HHI of about 220K and yes, we actually do.   :roll: [/quote]

I'd love to see your budget. What's your mortgage? What is your budget annually for a couple of modest vacations?[/quote]

NP - I make around 100k - one child - and I feel like we live a pretty nice life.  We even take vacations from time to time!  Shocking I realize.....[/quote]

I'm sure you do live a nice life. Your expectations of what constitutes a "nice life" is different than families making $50,000 HHI or $250,000 HHI.[/quote]

I'm not sure what you mean really.  I would expect some sort of different life at 250k?  In what way?  We have a nice house, good schools, and we take vacations. What else do we need??  [/quote]

How much are you saving annually for retirement, and what age do you hope to retire - before 65? At 250K, you would be expected to fund all of your childrens' college costs; at $100,000, you will be able to get some loans and perhaps even some scholarships.  When you say you vacation, is it camping down the shore or ten days in Italy?[/quote]

I honestly don't think I will get need based college fund at 100k.   But I'd love to be wrong.

Vacations in the past few years have been England/France (one week), Adirondacks, Disney and Sanibel Island.

Retirement will be mid-60s I hope.[/quote]

So are you saving enough to fund most of your childrens' college costs (if you wanted to pay for college)? Will you retire on social security mainly?  The point of these questions is that if you had a $250K HHI, you might wish to retire at 60 rather than 65, and you might expect to fund your retirement mainly out of earnings from investment rather than social security. Not much difference in your day to day lifestyle now.[/quote]

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