Reply to What is a donut family? A donut hole family?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Typical DCUM donut hole family is not an object of pity for 95% of Americans, probably more.  [b]Average[/b] DCUM donut hole family probably has gross income of $300-400K.  Yes, some are lower, but that’s how averages work.  They’re unable to cash-flow college tuition because they have (some combination of these) a lot of house/s, a lot of private school tuition, a lot of travel spend, a lot of travel sports spend, a lot of retirement deductions, a lot of household service spend, etc.[/quote]

You’re clueless if you think everyone making this salary has more than one house, private school tuition, and lots of travel.  [b]The reason DCUM is so angry in general is because we’re making that munch money and living completely unimpressive, uninteresting, not fun lives.[/b]  And we grew up feeling confident that this much money would give us all those luxuries. Are you 15? [/quote]

You are so delusional. People on this board constantly brag about their $20k vacations, nannies, home renos and new builds, and multi-million dollar investment and retirement accounts. Tons of home equity.

NONE of those people are “donut hole” families yet that’s exactly who comes here complaining, bc they don’t want to cut back in any of those other areas to help put their children through college. That is the very definition of delusion + entitlement.[/quote]

:roll:   Donut hole means you make too much to qualify for aid and not enough to pay for college outright.  Seeing an actual budget and where your might differ and how to improve saving and investments is more useful than assumptions you are vacationing on the French Riviera’ every year and that’s why you don’t have 320K saved per child for college on a 300K salary . https://www.financialsamurai.com/living-a-middle-class-lifestyle-on-300000-year-expensive-city/

The people asking “is it worth filling out FAFSA” or “how do you afford college on x  income” aren’t whining, they are asking for facts so they know their options.  The majority of time people in that income bracket say their kid is at a public college or has merit as a fact. The other option is to reduce retirement and/or borrow against home equity for schools that only have need based aid.  Either way, this is useful information to have before your kid builds their college list. [/quote]

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