Reply to What is considered a "good salary" in the DMV?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]350K - with no childcare cost, low mortgage, no private school cost, no physical-mental-behavioral-legal-educational issues remediation costs, no divorce, SAHM household, no pets, no eldercare costs, no college debt, a good pension plan, secure job, lots of benefits ---  its fantastic. Its us.

500K - with expensive childcare, expensive house, private school costs, any therapy or treatment, any legal costs, pets, eldercare, divorce, college debt - you are drowning and you are no longer well off.

See, only Bezos or Gates do well even when they divorce.  [/quote]

This is so dumb. If you make 350k there is no reason to worry about childcare cost or mortgage. Childcare cost is temporary and on 350k it's easy to buy a million dollar house an still take vacations, eat out, etc. I don't know why therapy is so front and center in your post - sounds like you must hang around with some crazy people [/quote]

Why is it dumb? With $350K and not having the costs listed above, we actually have a great lifestyle - foreign vacations, maids twice a week, entertaining, eating out, tutors, coaches, well maintained house and yard, kids can go to any college, great retirement etc.  350K should give you a lot of options to live well and to also build wealth. But, people in DMV struggle even with high HHI because they have these other costs.

Why is therapy and treatments up front and center in my post? I have heard people in our circle say that fertility treatments cost them a lot of money, or their SN kids need a lot of expensive therapy, or their teen drug rehab cost them a lot of money.  I am assuming that if you had the misfortune to need any of these kinds of treatments or therapy, you will also bleed money.

Also, every friend who went through divorce spent huge amounts of money in the attorney costs, and of course they became poorer overall because the marital assets got divided.  I am assuming that they needed some counselling too at some point and unless it was covered by insurance it also cost you a lot of money??

The above are not situations that people want to be in but it happens that life deals them that kind of a hand.  Surely you understand that it is very easy to spend a lot money on lots of things and not all of it is frivolous spending?  Getting therapy for your SN kid or IVF etc is not mindless spending. Getting marital counseling or a divorce is not being irresponsible with your money, these misfortunes can happen. But the end result is that it costly. [/quote]

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