Reply to Ok can we stop saying $300k is "rich" in DC?

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Reply to "Ok can we stop saying $300k is "rich" in DC?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]DH and I earn a little less than 200k together and we are rich.  We save about 60k for retirement every year, and can cover all of our expenses, like private school for our kids, and a lot of what we want, even in this area.  No, we don't live in a prestigious zip code, and my commute is about 45 minutes, but that's because of choices that we made.[/quote]

Damn. I'd love to see your budget.  [/quote]

Not seeing how the math works on this. After saving 60k and paying taxes you are spending in the low 100s, and covering more than one private school tuition, and all other expenses, comfortably?[/quote]

Our housing costs are minimal, the private school is inexpensive, and our retirement contributions are pre-tax because of a 457b contribution.  And we are not spenders.  We probably spend less than 1k on clothes and eating out over the course of the year, and some years we don't bother with a full vacation other than visiting family.  It's just the way we are but it's our choice, we don't think about money.[/quote]

But you don't live IN DC.  You have low housing costs and low private school costs. So your budget is about as relevant to someone who lives in Upper NW DC as someone who lives in Kansas or Idaho. That's the point.  $300k in upper NW provides a stable lifestyle with occasional niceities, but when you factor in the high cost of living you are far from rich. [/quote]

Do you realize what a nitwit you sound like? The luxury your income is paying for is living in Upper Northwest and paying for private school. Do you not  see that many many people with incomes lower than yours cannot afford those?

Just because you choose to spend your money on different things doesn't make the money not exist. Where you live and where your kids go to school is in fact a luxury. Even if you're not wiping your bum with hundred dollar bills.
[/quote]

Absolutely agree -- if you can afford a nice home in NW -- you are rich in my book.  The middle class can't afford that.[/quote

[b]$300k and no way can we afford a nice home in NW.[/b][/quote]

what are you doing with your money?
We make $300K and live in a nice house in AU Park. 
The vast majority of our neighbors make a similar salary--some a bit less, some a bit more. 
But a tremendous number of families here are 2 income fed families or something every similar.

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