Reply to Income 100k for 35 year old is working poor

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]OP: I am barely saving any money living a middle class lifestyle while making 100K a year.

DCUM: Have you thought about adopting the lifestyle of  an impoverished hermit to save 3 more dollars?

In all seriousness, you're right OP. 100K isn't what it used to be. You need to make more money to get everything you want. Alternatively, you'll need to cut back on fun stuff for yourself to afford fun stuff for a family.

That said, saving 10K a year for retirement and 300 a month is perfectly fine. Put it in a retirement calculator and you'll see that you'll get to live a fine life at age 65 with social security.

Regarding buying a house, it's not really worth it to buy a house nowadays. The price to income ratio is ridiculously high, meaning that prices can't really get higher and you're a lot better off renting. C'est la vie.[/quote]

The mistake comes in misunderstanding what a middle class lifestyle is.  What OP is describing is not working poor, it's middle class. [/quote]

Maybe the real mistake is people taking things literally. I'm sure the OP didn't really mean he was impoverished. But he is expressing a common frustration these days, that a good salary on paper is barely enough to live a decent middle class life. [/quote]

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