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]Have we mentioned yet that they save 50k per year off the bat? And yes, they stretched to far on housing once you consider PITI.[/quote]

And they're also paying $53,000/year for preschool plus childcare.  Hey, here's a new rule . . . when your childcare expenses nearly equal the medial *salary* for the country, you ain't middle class.

It is appalling that (i) this has to be said, and (ii) some dimwits will disagree with it.  [/quote]

How much is childcare for middle class?[/quote]

Say $100,000 is solidly middle class.  Assume, after taxes (but not including health care and retirement savings, they take home $80,000.  $53,000 in childcare is more that 66% of their take-home.

It's less than that.  [/quote]

Middle class families use in-home childcare, frequently unlicensed.  They leverage friends and family for childcare.  They work offset schedules to avoid having to have childcare (e.g. dad has a regular 9-5 job and mom works 3 12hr night shifts a week as a nurse).  They stop paying for afterschool care when their kids are still in ES.  They don't send their kids to summer camps or, if they do, it's the cheap program at the church or at a county park.

[/quote]

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