Reply to Family of Four on 90k - An Upper Middle Class Existence

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[quote=Anonymous][quote=Anonymous]
Sorry, some of us work during day. You know and have parents.

I came from rural America, went to good college and studies engineering not that different than PP.

I was foolish about money in that went into engineering and did what I love rather than go into investment banking or consulting. This is what I am bitter probably, b/c my experience is from rural America where homes cost less than cars.  About $40k student loans.   We are still worried about supporting parents who have no retirement except their house, a failure to launch sibling, and a sibling with serious mental health issues. [/quote]

That's a rather unhealthy "grass is greener on the other side" mentality. I went into engineering as well and while I made the decision to change careers, my engineering background gives me a unique competitive advantage in my current business against my peers who tend to be marketing and sales types. My wife is in finance, with numerous friends in investment banking due to their heavy duty math background. I am not sure I would have survived in that high pressure environment. I certainly don't want to go live in NY.

[quote=Anonymous]
My point for PP was that even though she bought in a sketchy neighborhood, and seems to be infazed by what she assets are low ranked schools, the appreciation in her house is mostly from the bubble. Not her sweat equity or business acumen. It is unlikely to happen again where someone can buy a $300k place in ft totten and it will be worth $1m by 2020 (which is what she experienced). That sort of massive wealth creation gives her a lot of options that most people earning 90k dont get.  It would change our lives if we had a chance like that, but we can't take the same gamble she did. [/quote]

I will concede that for most people, their primary home provides shelter and is not really an investment. At least when they purchased it, the idea of it appreciating is simply assurance that they are likely to not lose money, rather than some calculated decision to invest with an expectation of certain rate of return. [/quote]

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