Reply to How does your family survive making under 200k hhi

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]There have been multiple people in very different phases of life (50+, 30s, single moms, sahm, renters) who have lived very comfortable lives in the area on 200k and far less. There has been an excuse thrown out for each how those don't apply - you bought before the real estate boom, you had a big down payment, you have one high wage earner.

The simple fact is that it can be done and in a variety of ways. YOU might not be able to do it, but it is not because it is not possible, but because you make different choices or have expectations/entitlements that are out of line with your income.

The simple truth is that if you are broke at 200k you would probably be broke at 300 or 400k. 100/150/200 are plenty to live comfortably, raise children, live close in, and save for a great retirement. What do they have in common? Live below their means in some ways, save aggressively, prioritize their wants and needs, and realize how fortunate they are to make so much money.

There will always be excuses.[/quote]

I think people who make statements like these have no idea or experience with starting a family in this area today.  That would've been me saying the same thing before I had kids.  Once kids came along, childcare is a second mortgage, diapers, wipes, etc.  I haven't gotten a haircut in over a year, manicure over 4 years ago, new clothes bought 2 years ago because of my growing belly...  200k is a lot less after taxes etc.  its enough to cover childcare, mortgage, food, utilities, insurances, etc but its far from luxurious living.  We still need to budget carefully.[/quote]

I have heard the same complaints since I was in HS in the early 80's (when inflation and interest rates were in the double digits).  "Our generation has it the worst".................  It was not a new complaint then either.  You have to watch your budget because of the stage of life you are living.  Children are expensive (warning: daycare is just the beginning).  Saving for a down payment on top of rent is expensive.  Buying and owning a house is expensive.  It always has been.   On top of that there are more frills that people think are necessary (cable/internet, smart phone, much larger homes, granite countertops, more than one tv, stainless steel /white fancy appliances.....)  Yes, you live in a high COL area BUT you also have a HIGH income to match it.

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