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Reply to "Study shows that 350k/year is barely scrapping by as middle class"
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[quote=Anonymous][quote=Anonymous]We live in NW DC and this article is basically about us. We are more like $310K a year and I can account for our budget differences in property taxes, childcare, and food. But otherwise it's not that far off from what we spend. Our mortgage payment plus taxes is about the same as the mortgage payment here. That said, we are 40, keep a liquid cash savings cushion of about 40K, have just shy of 1M in 401k, are on a path to retire around 60 and have about 75% of kids college in the bank by the time they get there. So we're comfortable, but we're driving non-flashy cars, living in a 3 bedroom house, going to public school, and living what's otherwise a pretty non-rich person lifestyle.[/quote] So what are you spending money on? Vacation, clothes, eating out, activities? 1M retirement savings is good but not where the majority of your money is going.[/quote]
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