Reply to How do I know if I am middle class?

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[quote=Anonymous][quote=Anonymous]

I know many families who make $50k, live in nicer homes (outside the DC metro area), take real vacations,... I think the issue is that too many people are rich in income yet lead poorer quality of life.  [/quote]

Yes, but are they putting any money aside?  My BIL and his baby momma would go on road trips every weekend and got to go on vacations (thanks to my IL's taking them) on $35K/year with 2 kids.  But in the meantime, they were (and still are) living at my ILs house, in debt up to their eyeballs with no savings or retirement money.

I do realize housing is cheaper in other parts of the country, but do you think families of 4 with HHI of $50K are actually being responsible with their money in terms of their futures?  Not that I blame them - shit is expensive these days and we lose our safety net bit by bit every day.  We're all forced to cover more and more out of pocket.  We have a HHI of close to $140K, yet we don't go on many vacations because we are having to put so much of our income into retirement and college funds with very little employer help.  Health costs are insane - we have insurance, but it doesn't cover as much as it used to yet we pay more for it and have more out of pocket expenses that used to be paid.

Again, $50K isn't much, even in low COL areas, when you consider what everything you need for life costs these days.[/quote]

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