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

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

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[quote=Anonymous]BTW it is even much worse to scrap by in your 50s on 350K.

I know 55 year old folks two kids in college, one in HS and sick parents they are helping out on or living with them.

And home prices over one million is a function of where you live and state in life.

My current home is from when I relocated to DC. I could not live that far out as started new job with a lot of hours, I still had two of my three kids in school so needed a good school district. Now that moving to a place where if folks visit me they have to stay overnight so need a spare bedroom and now I had three drivers in house soon to be four drivers I needed a big driveway. Moving to a new town where I know no one and having to unload an old home needed a house in good shape.

Guess what My three month house search started at 900K and quickly went to 1.2 million as that was min for what I needed, from there it went to 1.325 million.

Guess what, no pool, no huge plot, kinda a regular looking street.

Now add in two college tuition's coming up while still dong 529 plan for youngest and 401K and medical and car insurance 375K is a break even salary if lucky.

A Pharmacist and a Nurse dont as stated above dont cut it. Both jobs have good starting salaries but long term the pay sucks. My brother in law is a pharmacist and stands at counter in Giant Supermarket and if his wife was a nurse sitting at the minute clinic at CVS hardly high paying jobs.

It would take a Doctor married to a Nurse Practitioner to afford a house in 2020 that a Pharmacist married to a regular nurse could afford in the year 2000.           [/quote]

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