Reply to UMC deep in the negative

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Your mortgage debt does not lower your net worth if it, you know, comes with a house.

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+1 are you underwater on the house? on the green side, you should be soft-counting the value of your house. I say soft-counting because eggs and hatching and all, but it is a more realistic financial picture. [/quote]

OP here, you both identified why I am in the legal field working in a non-financial practice! I am not underwater on my house but only 2 years into a 30 year mortgage. Taking the mortgage and equity out of the picture would put me at less than negative half a million. That certainly seems more surmountable even if it takes a decade or so.

To the others offering lifestyle advice: thank you, but I am learning as I go. I don't have major credit card debt now as I learned that lesson carrying maxed out credit cards through undergrad and law school. I have no idea how griping about owning a townhouse is "keeping up with the Joneses" or living beyond my means as we are very comfortable even after replacing the HVAC and poor DIY renovations from the previous cheap skate owner. Again, I am just asking when the upper middle class life, which is obviously a status worth striving for here in the US, becomes comfortable.[/quote]

It becomes comfortable when you can afford to live an UMC lifestyle. You’re not there yet.[/quote]
[b]
+1. You are not UMC; you are pretending to be. Which a lot of people do, I grant you, but when you owe $700,000, you are not UMC, you are poor. You should be living like you're poor until you are debt-free. [/quote][/b]

This.
You are in a lot of debt, you are not UMC. An UMC lifestyle becomes comfortable when you can ACTUALLY afford it, which you can't.  [/quote]

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