Reply to Disgusted/Deflated. We make combines $350 & can't afford jack

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[quote=Anonymous]I think the issue is folks CONFUSE HHI income with single earner income.

When I had three kids aged 1, 5 and 7 I was making 350K like the poster and lived fine and had a place.

But my wife did not work. I paid zero child care. We did not have a babysitter, a maid, I mowed my own lawn, no going out to fancy restaurants and my wife cooked so no take out all the time. We had two used cars in driveway.

Today if I made 350K if my wife worked the childcare would eat up a ton of costs, so would commute, dry cleaning, lunches when she is at work. I am sure she would want a maid, why not take out, pay for Instacart. Heck why drive a used car and go on cheap vacations if she is working so hard. Why dye your own hair. It just adds up.

As a man. Sadly, I worked a place business casual. Pretty much I shopped at KOHLs for basically a golf shirt and kaki on sale.

I also bought a fixer upper. My house was small. I could do my own painting and home repairs.

Today if 350K means you have childcare, leased cars, large house, High property taxes, HOA fee how does that work. Guess what it did not work 10, 20 or 30 years ago.

Dual income with multiple kids is EXPENSIVE.

Guess where I see a lot of SAHMs in the small houses by the Winston Churchill HS you could have bought as recently as 2010-2019 for 550K to 650K. Those young couples put 20 percent down lets say 2013, refinance in 2021 into a 15 year at 2 percent the remaining maybe 300K mortgage and kids walk to school, Moms maybe part time job. Taxes are low. Maybe Dads now make 350K like I did but did not trade up homes. Why? Start a new 30 year mortgage at 50 till you are 80.

My last year I owned my old home I had paid off mortgage. I also grieved taxes a few times and won. My income rose so much my property tax bill was two weeks pay. I had no mortgage. I stayed 5 years like that. Why a job could end any moment. We had lots of rich folks my block who bought in 1970s to early 2000s.  But younger folks today buy it, trade up, then trade up next thing they are 55 and laid off with a one million dollar mortgage and 18K in property taxes and two leased cars. Boo Hoo[/quote]

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