Toggle navigation
Toggle navigation
Home
DCUM Forums
Nanny Forums
Events
About DCUM
Advertising
Search
Recent Topics
Hottest Topics
FAQs and Guidelines
Privacy Policy
Your current identity is: Anonymous
Login
Preview
Subject:
Forum Index
»
Money and Finances
Reply to "What is Middle Class....Really?"
Subject:
Emoticons
More smilies
Text Color:
Default
Dark Red
Red
Orange
Brown
Yellow
Green
Olive
Cyan
Blue
Dark Blue
Violet
White
Black
Font:
Very Small
Small
Normal
Big
Giant
Close Marks
[quote=Anonymous]When I was being taught how to fundraise, the grizzled old consultant asked a question to the group of trainees (all fresh out of college). The whole room guessed and guessed. "100k per year." No. "200k per year" No. "300k per year." No. ... "1m per year?" Answer: 20m in the bank. Why? As this fundraising consultant put it. "For most families you can really feel income increases up to about 80 grand per year, give or take. Below that, its hard to make ends meet. Above that, you can essentially afford to live, but it becomes a question of gradations of nice. As income goes up public school ----> becomes public schools in an expensive boundry ----> becomes catholic school ----> becomes private school ----> becomes boarding school. Your families one used honda civic becomes ----> 2 used civics ---->becomes 2 VWs ----> becomes 2+ Audi/BMW/Mercedes/Lexus type cars ---> becomes 4-5 nice cars include possibly a total "toy" of a sports car. Your YMCA membership ----> becomes a Vida membership becomes ----> country club membership ----> multiple club ----> Yosemite club membership. A 3br TH ----> becomes a 4br SFH ----> 8000 sf mc mansion ----> 8000 sf + vacation homes. 20 million in the bank is the point at which the average person can't accidentally slide their way into higher COH spending it all without going nuts. Between 80k/year and 20 million in the bank...the rest just comes down to how good of a saver you are / how good your financial decisions are. Thats why some people say "we live a great life off 180k HHI here" and others might say "we have 430k HHI and can't afford extras." The latter typifies the effect he was describing. The former are people who are learning to build wealth / live as if they are "upper class." The latter will always feel poor no matter how much they make...until they have about 20m in the bank. Then -- barring a crazy coke problem -- they should have trouble spending it. [/quote]
Options
Disable HTML in this message
Disable BB Code in this message
Disable smilies in this message
Review message
Search
Recent Topics
Hottest Topics
