Anonymous
Post 03/18/2011 10:57     Subject: Down and Out on $250K/year....

Actually, it really is. But you will never get that. You don't get new standards, nor do I. No matter how you slice it, those who are making not only 250K but much, much less and whining about it are clueless and out of touch.

Why is it ridiculous to bust your rump in med or law school for years and then whine about how you don't feel rich? What truly middle class professions spend 3 or more years in school beyond high school? It's an effort vs. reward thing. It's not that waitresses and school teachers don't work hard, it's that they are less educated. If I made $70K a year, I'd want 2 or 3 months off each year too, but since I make $200K, I think it's reasonable for me to have to work 11.5 months a year.
Anonymous
Post 03/18/2011 10:53     Subject: Re:Down and Out on $250K/year....

"On the flip-side, I have colleagues who feel happier and more secure with ample surplus cash, so they choose to live out in Vienna and beyond. Point is that you cam have it either way...but sadly you can't have your cake and eat it too."

This is us. Our HHI is $400K and we chose to live in Vienna, despite one spouse's long commute. Our mortgage all in is only $2800.

Anonymous
Post 03/18/2011 10:38     Subject: Re:Down and Out on $250K/year....

Rich is defined by one's wealth, not one's income. You can have a high income and not be rich. In some cases, getting to that income involved extraordinary debt accumulation (for school).
Anonymous
Post 03/18/2011 10:32     Subject: Down and Out on $250K/year....

PP - we're talking about an objective standard of rich. I understand what you're saying but it's not relevant to the discussion.
Anonymous
Post 03/18/2011 10:27     Subject: Down and Out on $250K/year....

This morning, I listened to my 4 year old crying "I'm still hungry!!!" after he was removed from the table after hurling his yogurt container at his brother. This "I'm still hungry!" sobbing and wailing went on for maybe five minutes. As his mom, I had a pang of guilt thinking "maybe he really is still hungry" - but the kid had already eaten plenty of breakfast. The next thought that occurred to me was "wow, I am so fortunate to have never had to worry about my children truly going hungry."

No gold plated toilets or private jets at our house, but let me tell you - knowing that my kids will have food on the table every day - I feel pretty rich.
Anonymous
Post 03/18/2011 10:24     Subject: Down and Out on $250K/year....

I was laid off two years ago. That's exactly why I'm telling you I'm not rich. I am a salaried employee. You get laid off and you immediately worry about your mortgage, paying for preschool and nanny. That's when you KNOW you are not rich. I don't have a large trust fund to fall back on. What I did have was a large savings account, substantial investments and healthy retire accounts, none of which I wanted to touch in order to pay for mortgage, etc. but I could if I had to. But that is not the definition of being rich or wealthy.

And to PP - I don't think anyone here has spent all of their money. Like I said, we're sitting on lots of cash and other investments but that's savings, college and retirement. We save what we can but my kids still need schooling and a childcare provider while I'm working.

It's sad that my layoff would please you. How would that help you people making so much less? With unemployment as high as it is, every county including DC has cut services from schools, libraries, police, and other social services. That's directly due to high unemployment of people including people like me who were making much more than $250K alone. Glad you've thought this whole thing through.
Anonymous
Post 03/18/2011 10:18     Subject: Down and Out on $250K/year....

PP, you've obviously not followed the posts of the folks who've outlined why $250K/yr is not "rich" - nobody has said it's not a lot of money, but what folks have said is that if you have been saving, been responsible for you and your children's future, even at that level of income, there isn't a ton of disposable income left over to be deemed "rich." I haven't heard the $250k/yr posters saying they spend themselves into oblivion; in fact, just the opposite. I hear them saying they're working hard to manage an expensive future, which may include the unexpected, and that doesn't leave much left. No one has said that level of income isn't a lot. Too bad for you you seem bitter and jealous and wish ill-will toward them. Shame on you.
Anonymous
Post 03/18/2011 10:00     Subject: Down and Out on $250K/year....

Anonymous wrote:
Anonymous wrote:There is really no cure for delusional rich peoples' disorder, other than layoff or some other significant drop in income.


But that's just the point. You're not rich if you can be destroyed by a layoff.



Not true. That goes back to "I'm not rich because I spent all my money". They could easily save instead of spend.
Anonymous
Post 03/18/2011 09:59     Subject: Down and Out on $250K/year....

Anonymous wrote:There is really no cure for delusional rich peoples' disorder, other than layoff or some other significant drop in income.


EXACTLY. They will be cured of their delusions and realize how rich they are when they are laid off. That would show them.

Anonymous
Post 03/18/2011 09:57     Subject: Down and Out on $250K/year....

Anonymous wrote:There is really no cure for delusional rich peoples' disorder, other than layoff or some other significant drop in income.


But that's just the point. You're not rich if you can be destroyed by a layoff.

Anonymous
Post 03/18/2011 09:38     Subject: Down and Out on $250K/year....

Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Again, upper-middle class incomes can buy an expanded range of life choices that still fall short of extravagance.

Wealthy incomes can buy solid gold toilet seats for private jets-- or at least occasionally charter private jets with gold plated toilet seats. There are lots of people in America who can do this.



You don't understand. The basic amenities that these 250K people describe, ARE extravagant to many, many Americans.


No question it's a higher standard of living than many enjoy, but judging urban expenses incurred by highly educated people according to the standards of "many, many" Americans isn't reasonable.

This is really ridiculous...you don't get to only compare to like populations...it's relative to the entire population
Anonymous
Post 03/17/2011 21:39     Subject: Down and Out on $250K/year....

Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Again, upper-middle class incomes can buy an expanded range of life choices that still fall short of extravagance.

Wealthy incomes can buy solid gold toilet seats for private jets-- or at least occasionally charter private jets with gold plated toilet seats. There are lots of people in America who can do this.



You don't understand. The basic amenities that these 250K people describe, ARE extravagant to many, many Americans.


No question it's a higher standard of living than many enjoy, but judging urban expenses incurred by highly educated people according to the standards of "many, many" Americans isn't reasonable.


Actually, it really is. But you will never get that. You don't get new standards, nor do I. No matter how you slice it, those who are making not only 250K but much, much less and whining about it are clueless and out of touch.
Anonymous
Post 03/17/2011 21:35     Subject: Down and Out on $250K/year....

Anonymous wrote:
Anonymous wrote:
Anonymous wrote:Again, upper-middle class incomes can buy an expanded range of life choices that still fall short of extravagance.

Wealthy incomes can buy solid gold toilet seats for private jets-- or at least occasionally charter private jets with gold plated toilet seats. There are lots of people in America who can do this.



get real- using private jet use for a 'rich' threshold is absurd in any context....


Not in cities where such people are well represented.


Yes- I think the above poster is quite sensible- the only way you are "rich" in the US is if you have access to private jet use. Anything below that is upper middle class at best, but more likely middle class. After all as it is rightly stated there is a major prevalence of private jet users in the DC metro area, anecdotally (based on my discussions with parents at Sidwell and Georgetown Day fundraisers) it really must be pushing at least 40% these days!
Anonymous
Post 03/17/2011 20:39     Subject: Down and Out on $250K/year....

Anonymous wrote:
Anonymous wrote:Again, upper-middle class incomes can buy an expanded range of life choices that still fall short of extravagance.

Wealthy incomes can buy solid gold toilet seats for private jets-- or at least occasionally charter private jets with gold plated toilet seats. There are lots of people in America who can do this.



get real- using private jet use for a 'rich' threshold is absurd in any context....


Not in cities where such people are well represented.
Anonymous
Post 03/17/2011 20:36     Subject: Down and Out on $250K/year....

Anonymous wrote:
Anonymous wrote:Again, upper-middle class incomes can buy an expanded range of life choices that still fall short of extravagance.

Wealthy incomes can buy solid gold toilet seats for private jets-- or at least occasionally charter private jets with gold plated toilet seats. There are lots of people in America who can do this.



You don't understand. The basic amenities that these 250K people describe, ARE extravagant to many, many Americans.


No question it's a higher standard of living than many enjoy, but judging urban expenses incurred by highly educated people according to the standards of "many, many" Americans isn't reasonable.