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][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I think previous posters nailed it on why people at 300-350k feel middle class. T hey are spending most of their money on things that will reap benefits in the future.  Childcare for the second income that later won’t require childcare, a mortgage that will pay off a home here, college savings so their kids don’t have any loans, and a large retirement fund that won’t need to pay for a mortgage or childcare.

So right now they feel very average and middle class.  But later on they won’t. [/quote]

I don’t know, I think it’s also a case of lifestyle creep.  There’s no reason you can’t save AND live decently in the present on that income.  [/quote]

Lifestyle creep is definitely part of it. Everyone needs 2 nice cars, iPhone, cable package, eat dinner out once a week plus date nights, sports tickets, etc.... also vacations tend to get nicer, no longer taking the family camping you are instead renting a beach house for the week or flying somewhere to spend the week in a hotel, Disney maybe for the kids?[/quote]

Absolutely! We are guilty of it too and make less than many on here who are grousing ($175k, dual income).  We definitely indulge in things that my parents never could afford when I was a kid.  Dinners out were for special occasions only, tickets to an MLB game or theater performance would have been a birthday gift.  Whereas two weeks ago we were like hey it’s a nice day let’s go to the Nats game. AND we bought the overpriced food/beer there.

I guess the difference is that I recognize it and know how fortunate we are.[/quote]

We rarely went out to dinner when I was a kid in this area. Dinner out was reserved for trips away from home. Sports tickets happened sometimes but the redskins were expensive and the Orioles were a long drive. Nats tickets are not very expensive and plentiful.[/quote]

To you and me, Nats tickets are not expensive.  But even the cheapest seats will typically set you back $100 for a family of 4.  For many families that is not an insignificant purchase.  [/quote]

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