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[quote=Anonymous][quote=Anonymous][quote=Anonymous]1. Combined of about $400k. Bonus of about $200k this year. UMC

2. Comfortable, but not rich. The bonus is variable, some of it is equity, and I (70% of HHI) could be laid off at any time.  Net worth of about $3.5M in our mid 40s, $1.8M 401k, $1.2M after tax, $500k home equity.

We have 3 kids, are paying for a nanny, and are “time poor”. That means we’re often buying time, ordering takeout, etc.

I often avoid taking toll roads, book flights out of inconvenient airports like BWI, book flights with layovers, etc. I’m buying 5 plane tickets every time we travel. Inflation has pushed prices on everything way up.

3.  $8M?  [/quote]

Now imagine the life of a family of 5 on $80K income (average for DMV).  You say your time poor - so are those working 12 hour shifts or two jobs where they are standing all day long.  I wouldn't trade my office job for a McDonalds job even if it were the same salary - I know that those folks work harder than me everyday and are way more tired at the end of their shift than I am.  I also know that society has decided that I'm more productive then McD workers - even if I'm actually "working" only 4-6 hours per day.

I'm self aware of my privilege and realize that I'm UMC (even UC), even if I'm frugal with my daily expenses because I save for expense 10-20 years down the road.

[/quote]

But the argument people here are also making is that once that family amasses 1M in their retirement accounts (even if they’re 70+ and this is the money they have to live on the rest of their lives) they’re now suddenly wealthy.  It’s just a stupid premise.  Lots of families have 1M in assets that they can realistically expect to give them maybe 50k per year in income.  That’s not wealthy, that’s just how responsibly saving for retirement looks.[/quote]

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