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[quote=Anonymous][quote=Anonymous]Our situation is unique in that I have a trust, so while I SAH and my husband makes $300K (which maybe would be UMC?) our annual gifting creates a different set of circumstances. The kids have trusts set up as well, so we don't have to save for their college, which removes a huge burden. Because we receive an annual gift of $56,000 (tax free) it changes a lot about our lifestyle. He travels quite a bit, so we are able to take free vacations with mileage to their homes in two different vacation destinations, which is extremely helpful. While his salary and ESPP and stock/bonuses alone would make our life comfortable (for sure!) its really the annual gifting that puts things into a different category for us. Also, the knowledge that ~ at some point, god willing, assuming we stay in good health, we will inherit a huge amount of money, is a sort of safety net. That said, he still maxes out his 401K and we save as aggressively as we can.

I know that we are extremely fortunate to have such circumstances, we routinely donate a flat 20% of what we are gifted to charity as well as run an annual fundraiser, and try to give back in as many ways as we can, as well as raise our 2 kids to be civic minded from their (young) ages. We live nicely but humbly (house is 750K inside beltway) and below our means, our friends would never guess we have this trust.

Because of this I would consider us upper middle class. [/quote]

What do you parents do that they can give 56k a year.[/quote]

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