Reply to Upper middle class (not adjusted for COL) ends at 350K HHI nationally, DC is 476K-525K

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Reply to "Upper middle class (not adjusted for COL) ends at 350K HHI nationally, DC is 476K-525K "

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]First of all, let me just say we don't make anywhere close to $400K.  But I still think that on every single thread on this, there are some sour grapes who hate rich people and will cast everything they do as some sort of slight on poor people.  Get over it.  So you feel poor.  I guarantee you most of the rich are not spending their days worrying about how to appear to you or how they will next make sure you know they are rich.

People are suggesting that $400K is upper-middle in this area because you need less than half that in a lower COL area like Charlotte or somewhere more rural to have the same standard of life as what that affords here.  That is, a decent sized house (2500 sq in a good school district around NoVa will run you $800K these days) for your kids with a yard, good school, good childcare.

We just moved from the frigid far North and the schools there are great.  The housing is much more reasonable.  Fact is, if you make $200K in boondock nowhere, you'll be swimming in land and house and plenty of cheaper childcare options because both are super expensive here.

$400K gets you these things in the DC area and then a bit but you're not swimming in luxury and extra cash.  You will pay out of your nose for housing and childcare and education, and you won't have much left over unless you buy in the crappy school districts and force your kids to go to a crowded public school with a bunch of ESOL students.  Some people will do that.  Many will not.  That you don't make anywhere close to $400K is neither here nor there.[/quote]

Well damn.  Our HHI is 95k.  I think we are doing fine.  Our kid goes to a school rated a 9 on great schools - with a very low Farms rate.  I don't feel poor.  and that's why I find these threads so fascinating....  How can someone making 4x what we make think they aren't doing well???[/quote]

At an HHI of 95K, do you expect to have any income in retirement other than Social Security? Your kid will get a free ride to college - it's not like you have to foot the bill entirely on your own income.  We save $60K a year for retirement and another $20k a year for college for our two kids.[/quote]

yes I expect to have income in retirement.  Putting 13% into the 401k now.  I am not so sure my kid will get a "free" ride to college.   95k is a lot of income in many parts of the country.[/quote]

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