Reply to What is Middle Class....Really?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]My DH makes a base salary of 300k. Then he gets a bo us that typically falls somewhere in the 250-500k range.

We try to live just on his base and save the rest it is really tough. I feel like it would be really hard to get ahead on just 300k.[/quote]

:roll: Our HHI is around $200k.  14 years ago it was close to $100k.  We have managed to fund our retirements, save and start paying for out of state college, go on a few nice trips, and live within the beltway sending our children to highly rated public schools.  It isn't very hard or tight.  [/quote]

NP. Actually, thinking on this, the PP you're quoting probably pays over a third of their income just to federal taxes because of the size of the bonus. So if they're really trying to live on a third of 300k and are saving the rest, that's why it feels "hard" to them. They're actually living on less than you are. There is no way you are paying 33% in federal income taxes on 200k.[/quote]

WHAT!?!   They live off their $300k income and save the bonus.  There is no way they have $200k in taxes on $300k in income.  Anyway, our spending is closer to $75k a year.  Again, we have managed to [b]save [/b] enough to pay for college for two children and for our retirement with the $200k (or less) income.  The pp says they save only on the income ABOVE the $300k.  
[/quote]

NP. No the way I read it is, she's saying they live off their monthly income from his base and save the bonus. This is obviously after taxes. Federal income taxes on 600k + is going to be at least 30%. So they're essentially living on 100K from his base and saving the rest.[/quote]

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