Anonymous wrote:

Anonymous wrote:

Anonymous wrote:200K is the top 20% of HHI in the DC metropolitan area. If you feel you need to "compromise", you are an entitled spoiled brat whose completely out-of-touch with reality.

I'd love for you to link us a 4br+ 4000sf+ single family home in a top school district and low crime with a big yard, garage, and a 15 minute commute to downtown DC that you could afford on a $200K income while maxing out 2 401Ks, Roth IRAs, and 529s for 3 kids.

Because if you can't find all of that, you're going to have to give some of it up to be able to find something you can afford. And what's another word for giving things up to be able to get some of what you want? It starts with a "C..."

Agree. A comfortable, middle class to upper middle class lifestyle to me means:

- max out 401k(s) or IRA(s)
- adequately save in a 529 plan
- mortgage on a ~3000 SF house with a 2-car garage and a yard in a safe neighborhood in a good school district
- 2 vacations a year
- kids' activities (and child care if both parents work)
- family car(s)

$200,000 / year isn't enough for the above-described lifestyle. No chauffeurs or other extravagant expenses mentioned above.

What you described does not correlate to a middle class lifestyle, it correlates to upper class

Housing the biggest expense - $200K HHI doesn't buy much around here. Renting is like throwing money down the toilet. So I agree with your friend.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:200K is the top 20% of HHI in the DC metropolitan area. If you feel you need to "compromise", you are an entitled spoiled brat whose completely out-of-touch with reality.

I'd love for you to link us a 4br+ 4000sf+ single family home in a top school district and low crime with a big yard, garage, and a 15 minute commute to downtown DC that you could afford on a $200K income while maxing out 2 401Ks, Roth IRAs, and 529s for 3 kids.

Because if you can't find all of that, you're going to have to give some of it up to be able to find something you can afford. And what's another word for giving things up to be able to get some of what you want? It starts with a "C..."

Agree. A comfortable, middle class to upper middle class lifestyle to me means:

- max out 401k(s) or IRA(s)
- adequately save in a 529 plan
- mortgage on a ~3000 SF house with a 2-car garage and a yard in a safe neighborhood in a good school district
- 2 vacations a year
- kids' activities (and child care if both parents work)
- family car(s)

$200,000 / year isn't enough for the above-described lifestyle. No chauffeurs or other extravagant expenses mentioned above.

That's not a middle class lifestyle, not in the US right now. Maybe it was for boomers but not today.

Who said anything about middle class? The PP said you don't have to compromise on housing if you earn $200K. Middle class is basically the definition of requiring compromise. Not having to compromise means getting absolutely everything you want in a house - size, location, commute, schools, etc.

Definitely out of touch given that most families in this area live on less than that. Housing here is incredibly expensive though. We make that much with 2 kids and do fine. The biggest thing is that we bought a condo in an up-and-coming area that appreciated enough to enable us to buy a house in the city that can fit our family. We share 1 car. We send our oldest to a good charter school and pay for childcare for our youngest. We save for retirement and have an emergency and rainy day fund, and college funds for the kids. We go on nice but modest vacations. We have a cleaning lady come every other week. We don't generally worry about money. I do wish we could put more in the kids 529s, take a luxury vacation (hello Beaches!), and remodel our kitchen but it's not a bad life.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:200K is the top 20% of HHI in the DC metropolitan area. If you feel you need to "compromise", you are an entitled spoiled brat whose completely out-of-touch with reality.

I'd love for you to link us a 4br+ 4000sf+ single family home in a top school district and low crime with a big yard, garage, and a 15 minute commute to downtown DC that you could afford on a $200K income while maxing out 2 401Ks, Roth IRAs, and 529s for 3 kids.

Because if you can't find all of that, you're going to have to give some of it up to be able to find something you can afford. And what's another word for giving things up to be able to get some of what you want? It starts with a "C..."

Agree. A comfortable, middle class to upper middle class lifestyle to me means:

- max out 401k(s) or IRA(s)
- adequately save in a 529 plan
- mortgage on a ~3000 SF house with a 2-car garage and a yard in a safe neighborhood in a good school district
- 2 vacations a year
- kids' activities (and child care if both parents work)
- family car(s)

$200,000 / year isn't enough for the above-described lifestyle. No chauffeurs or other extravagant expenses mentioned above.

That's not a middle class lifestyle, not in the US right now. Maybe it was for boomers but not today.

This is like parents with a kid who got a 33 on ACT saying he is in 97%tile in US. It maybe a true statement but not in DMV. It's barely 50%tile or so (my guess) b/c so many kids get 34-36s. It's not a generational issue, it's a locality issue.

2 parents x $200K/each is a very nice and attainable lifestyle in the DC area for educated professionals. Our jobs have great flexibility, but we're not working 60+ hours per week like those who are making $300K+.

Lots of autonomy and time off. If we want to boost our salaries and go for the brass ring at this point, it means giving up A LOT more free time.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:200K is the top 20% of HHI in the DC metropolitan area. If you feel you need to "compromise", you are an entitled spoiled brat whose completely out-of-touch with reality.

I'd love for you to link us a 4br+ 4000sf+ single family home in a top school district and low crime with a big yard, garage, and a 15 minute commute to downtown DC that you could afford on a $200K income while maxing out 2 401Ks, Roth IRAs, and 529s for 3 kids.

Because if you can't find all of that, you're going to have to give some of it up to be able to find something you can afford. And what's another word for giving things up to be able to get some of what you want? It starts with a "C..."

Agree. A comfortable, middle class to upper middle class lifestyle to me means:

- max out 401k(s) or IRA(s)
- adequately save in a 529 plan
- mortgage on a ~3000 SF house with a 2-car garage and a yard in a safe neighborhood in a good school district
- 2 vacations a year
- kids' activities (and child care if both parents work)
- family car(s)

$200,000 / year isn't enough for the above-described lifestyle. No chauffeurs or other extravagant expenses mentioned above.

That's not a middle class lifestyle, not in the US right now. Maybe it was for boomers but not today.

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:200K is the top 20% of HHI in the DC metropolitan area. If you feel you need to "compromise", you are an entitled spoiled brat whose completely out-of-touch with reality.

I'd love for you to link us a 4br+ 4000sf+ single family home in a top school district and low crime with a big yard, garage, and a 15 minute commute to downtown DC that you could afford on a $200K income while maxing out 2 401Ks, Roth IRAs, and 529s for 3 kids.

Because if you can't find all of that, you're going to have to give some of it up to be able to find something you can afford. And what's another word for giving things up to be able to get some of what you want? It starts with a "C..."

Agree. A comfortable, middle class to upper middle class lifestyle to me means:

- max out 401k(s) or IRA(s)
- adequately save in a 529 plan
- mortgage on a ~3000 SF house with a 2-car garage and a yard in a safe neighborhood in a good school district
- 2 vacations a year
- kids' activities (and child care if both parents work)
- family car(s)

$200,000 / year isn't enough for the above-described lifestyle. No chauffeurs or other extravagant expenses mentioned above.

It's not enough in the DC metro area, unless you bought right after the crash when prices tanked in the 'burbs. But go to Cleveland, Detroit, Columbus, etc and you can live that lifestyle, plus send your kids to solid parochial schools.

Anonymous wrote:

Anonymous wrote:200K is the top 20% of HHI in the DC metropolitan area. If you feel you need to "compromise", you are an entitled spoiled brat whose completely out-of-touch with reality.

I'd love for you to link us a 4br+ 4000sf+ single family home in a top school district and low crime with a big yard, garage, and a 15 minute commute to downtown DC that you could afford on a $200K income while maxing out 2 401Ks, Roth IRAs, and 529s for 3 kids.

Because if you can't find all of that, you're going to have to give some of it up to be able to find something you can afford. And what's another word for giving things up to be able to get some of what you want? It starts with a "C..."

Agree. A comfortable, middle class to upper middle class lifestyle to me means:

- max out 401k(s) or IRA(s)
- adequately save in a 529 plan
- mortgage on a ~3000 SF house with a 2-car garage and a yard in a safe neighborhood in a good school district
- 2 vacations a year
- kids' activities (and child care if both parents work)
- family car(s)

$200,000 / year isn't enough for the above-described lifestyle. No chauffeurs or other extravagant expenses mentioned above.

Anonymous wrote:200K is the top 20% of HHI in the DC metropolitan area. If you feel you need to "compromise", you are an entitled spoiled brat whose completely out-of-touch with reality.

I'd love for you to link us a 4br+ 4000sf+ single family home in a top school district and low crime with a big yard, garage, and a 15 minute commute to downtown DC that you could afford on a $200K income while maxing out 2 401Ks, Roth IRAs, and 529s for 3 kids.

Because if you can't find all of that, you're going to have to give some of it up to be able to find something you can afford. And what's another word for giving things up to be able to get some of what you want? It starts with a "C..."

Anonymous wrote:

Anonymous wrote:Friend just meant it wasn't enough to live the lifestyle she wants.

Yes, of course this. Everything is relative. I don't understand why this discussion is so endlessly fascinating to people. It's easy to feel poor when you're not if your lifestyle or desired lifestyle is expensive.

The solution is probably adjusting your desires, as more and more income rarely fixes this....

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:The real question is enough for what? Is $200,000 enough to live a fabulous lifestyle with private schools and chauffeurs and cooks in a large house in a desirable area? Of course not. It’s $200,000 enough to have small, safe (town)house with the kids in public schools and one or two activities per kid with savings and healthy food on the table? Yes. Probably only one or two kids though. And of course that is for a single earner. If there are two or nurse making $150,000, you can do much more.

It's enough to have an older single family home in an ok, but not necessarily great, area and live relatively well.

What salary allows you to have chauffeurs and chefs? 3 million?

People with those things aren't living off their "salary".

Anonymous wrote:

Anonymous wrote:The real question is enough for what? Is $200,000 enough to live a fabulous lifestyle with private schools and chauffeurs and cooks in a large house in a desirable area? Of course not. It’s $200,000 enough to have small, safe (town)house with the kids in public schools and one or two activities per kid with savings and healthy food on the table? Yes. Probably only one or two kids though. And of course that is for a single earner. If there are two or nurse making $150,000, you can do much more.

It's enough to have an older single family home in an ok, but not necessarily great, area and live relatively well.

What salary allows you to have chauffeurs and chefs? 3 million?

Fools

I dont make 200k and I’d love too. She’s right and she’s wrong I guess depending on perspective but I’d be pretty annoyed by that conversation.