Reply to Why is $275k hhi now so poor?

Forum Index » Money and Finances

Reply to "Why is $275k hhi now so poor?"

Subject:

Emoticons





More smilies

Text Color: Font: Close Marks

[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Yes, show us your expenses and we’ll tell you how to live like a king.  Clean your own house, cut your own lawn, stop streaming multiple services, stop it with the daily Starbucks.  Bring your lunch.

What kind of car do you drive?  Do you vape?   Are you getting a new phone every year?

Stop keeping up with the Jones’s. [/quote]

Do you believe that having[b] a cleaning lady, lawn service, [/b]streaming and ability to spend $20 bucks daily on lunch/coffee signifies luxury extravagant lifestyle if one works full time in a professional job? It's funny you think this is extravagant and get mad at DINKs in professional jobs (IMO they should be easily able to afford these things) but there is no questioning of the sky-is-the-limit accumulation of wealth by the 0.1% who cannot even invent ways to spend their vast fortunes and buy enough luxuries you cannot even fathom.  The trickle down from the uber rich class is only in form of charity and based on their personal values and opinions.

Good peasant, be happy things we used to take for granted in middle class upper layers are going extinct and we will be sifted into rich and poor happy to work most of their time and take on education debt just to pay for basic life not being able to afford a cup of coffee, happy hour drinks or a movie ticket.  
[/quote]

How many middle class families had cleaning ladies when you were growing up?[/quote]

Didn't know any.  That's the thing.  What most of us grew up with as MC did not involve McMansions, cleaning ladies, lawn service, etc.  We were our parents cleaning service and lawn service on Saturdays.  We lived in a 3 bed 1.5 if lucky 2.5 bath home.  And we ate out once every 2 weeks at a "cheap" place.

We didn't uber eats, dine out 3-4 nights per week, etc.

[/quote]

I think the point of OPs post is that they expected to live UMC life, not MC on this money because at some point it did used to buy you UMC lifestyle.  You earn professional salary and you should be able to afford to outsource a few things to get some time off on weekends away from chores to get some social time with peers at happy hour, go to a few dinners and grow connections to lead to better jobs, etc.  It meant you had some disposable income (to dine a few times, to travel on the budget, to buy a few nice things like electronics, furniture and car that are not beat up, clothes that aren't all from deeply discounted or thrift stores, etc.  It's not an extravagant life. But it does require something is left after you paid your bills and put your retirement portion away.

[/quote]

And for someone making $275K, even in DCUMland, there SHOULD be something left for use as disposable income for outsourcing.  However, if you have two 900/month car payments, that is where some of your "disposable" income has gone. Choices are key because yes at 275K you are not getting "everything you want as extras"  Or they have a mortgage at the upper limits for their salary.  They can choose as DINKS to live in a condo or townhome, and then much of that is already "outsourced" and mortgage would be much lower.  But if they "need a 3K home that is less than 5 years old" then that is also a choice for where to direct "disposable income" [/quote]

If you read the very first OP you will see that this isn't their situation.  Their housing is moderately priced for the area and they agonize over buying a new car as well as going on more than 1-2 vacations per year.  IDK where they are spending their disposable income, but it's not where you think.  Maybe their vacations are extravagant or maybe they are just saving/investing and making sure certain amount of their left over is going to go to good use in the future.  [/quote]

Or maybe not everyone is so lucky with timing of hiding purchases and the federal reserve gods controlling the levers of interest rates.  Yeah, it's easy to brag $275k is enough because you were lucky and were able to buy 15 years ago and refinanced a 2.63% rate. Meanwhile, other people are now paying all time high prices for housing WITH 6-7% interest rates. Sure, $275k is enough money when your mortgage is locked in at $1700/mo.  It's a lot different when othe people have to now pay $4000/mo for the same house. [/quote]
Housing is not the only way to get ahead. They have chose to do nothing to get ahead for years and years and now complain about it. Just because they don't know how, doesn't mean the option wasn't there for them. It still is. Never a better time than now.[/quote]

What are you bloody blathering about?  Someone who was in college in 2012 was not in position to buy a home. They had to graduate, get a job, and start saving.  They may make $275k now, but because housing prices doubled, their $275k is worth a hell of a lot less than another couple making $275k who was able to buy their home 15 years ago and was able to lock in sub 3% rates.

Again, $275k is a good HHI if you were fortunate with timing and got cheap housing to lock in your $1800 per mo housing payments. It's a lot different for someone younger who now has to pay $4000 per month for the same house on the same income.[/quote]

The couple that is making 275 today ..how much they were making 15 years ago when they bought their "$275k hhi affordable house"?[/quote]

Options

	Disable HTML in this message
	Disable BB Code in this message
	Disable smilies in this message

Review message

Search Recent Topics Hottest Topics