Reply to Support a family of 4 on $55k/year

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The problem with asking a question like this here on DCUM is that this board is heavily skewed toward families with very high incomes.  $55k is a perfectly good salary for most people, including in the DC area.  However, most of the respondents here have combined salaries of $150, $200, $300k and more.  Their expenses have grown to the extent that they think that it's tough to get by on anything less than what they earn.  However, you don't have to send your kids to private schools, eat out multimple times a week, spend thousands on vacations, have two brand new SUVs, live in a million dollar home etc.  Plenty of people get by on much less.

We'll soon become a family of four.  I earn more than $55k but relative to others here, not much.  (Sole earner).  If we stopped contributing to savings and 401k and cut back on eating out and trips/vacations we could EASILY make do on $55k.  It's all relative.  If you'r eused to taking home so much more than that it would be tough.[/quote]

Yes.

Please re-read this post. Read it again. And then decide to comment.

Some of these responses are ridiculous.

"Oh you cannot do it without government assistance!"

Get a clue.

[/quote]

I agree. It is doable. Does it mean you can live in a prime location with a nanny and a housekeeper and a lawn service while owning 2 or more vehicles and going on multiple vacations and buying name brands and organic food? No. But that wasn't the question. [/quote]

These smug posts are the worst on this thread.  Yes, there were one or two "oh my life is so hard at $200,000!!!" posters that need a wake-up call.  But you all are just as bad.  The majority of people posted "couldn't do it without government assistance" or "sure, but would be tight."  The people who thought you could do it, but that it would be tight indicated things like living in a cheap apartment, not having cable, ways to eat very cheaply, etc.  Not a single one said "sure, but it would be tight and we would probably have to give up on the nanny and sell the high-end SUV!"  No one.

So go ahead and feel smug that you're so in touch with "real America" and roll your eyes at anyone with more money than you.  I'll give you that there a few clueless posters here, but most of us realize we're lucky to be making more than $55,000 and were responding in the true spirit of the thread in terms of actually budgeting out what it would take to live on $55k.  Count me among the "doable, but tight" people - you would be at your basic needs and budgeting monthly and certainly not saving much if anything in this scenario.  I don't think you can argue with that.[/quote]

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