Reply to What do you consider an UMC HHI?

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[quote=Anonymous][quote=Anonymous]We are two GS-14 scientists, and we need both our incomes to afford the mortgage and childcare, have modest house inside beltway with good schools, and vacation twice a year (once in a summer beach vacation, winter is flight to visit family for holidays)

We max our retirement and have some 529 money, but our kids will likely need loans unless they get merit or sport sholarships.

so even though we make almost $300k, I feel this is a pretty typical middle class lifestyle, but because housing and childcare is SOOO expensive it constrains us.

This is pretty much the income you need to not have LONG commute and have decent schools in a real house.

Granted when we retire, in theory we can sell the house and move someplace with lower COL so our retirement could be pretty comfortable but a bit of a gamble in such an illiquid asset.[/quote]

This is similar to our situation.  We recently started making about $350K HHI and have enjoyed a couple of years without daycare (thank you, DC free PK3/4!)--I'd say we felt upper middle class w/one kid in upper NW DC, with some disposable income.

However, kid is moving to private next year--tuition payments have already started, and we're feeling the strain.  We are also paying back a hefty amount in student loans (grad and med school), which makes a big difference for us whereas this may be a non-issue for others.  We still realize we're very fortunate, of course, and don't take it for granted that while squeezed, we can prioritize education in this way while not having terrible commutes, we have a SFH w/yard, etc.[/quote]

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