Reply to Study shows that 350k/year is barely scrapping by as middle class

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]With a 350K HHI, 50+ Single income family this is where we are at and we feel very wealthy-
1) Great retirement (200K after taxes yearly, not counting social security) 
2) Good enough college (4 years of state school each kid + 1/2 million each for other costs and higher learning)
3) Insurance (Life and disability insurance that will be enough for the SAHM to never go back to work, downsize  etc)
4) No debt (except the 2K in monthly mortgage). 
5) Great medical coverage - presently and after retirement
6) Services at home (cleaners, yard maintainence)
7) Vacations (twice a year, international)

We live in a low COL area in DCUM, new SFH over 3000sq ft, no student debt, no other costs.  What kind of moron cannot be set for life with a 350K HHI or even 200K HHI?  The [b]entitlement[/b] on DCUM is amazing. [/quote]

I don’t think entitlement is the right word, it’s more like cluelessness.

I wish there were a show like  “Wife-Swap” except it would be “Life-Swap” and all these 250k+ HHI families in high COL areas swapped places with 52k-70k families  (the actual median) in low COL areas.  They would be really surprised at the difference.
[/quote]

This.  Or cluelessness how much families with young kids pay for childcare.  And as you increase your income, how much more you pay in taxes and the expectation you’ll be full pay for college.

Two kids in DC in daycare is at least $4k.  College savings a minimum of $1,200 for Publics.  That’s around $100k pretax income!  [/quote]

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