Anonymous
04/06/2023 20:52
Subject: $500k is middle class in DC now
Anonymous wrote:Anonymous wrote:Anonymous wrote:My monthly expenses for a family of four, 1.5mn modest outside beltway NoVa house, two cars.
Mortgage (PITI): 3,500
Utilities: 500
Cleaning and landscaping: 500
Daycare for kid no.2: 1000
Food: 2000
Kids activities for kid no.1: 1000
2 Car maintenance and gas: 500
529 saving: 1000
other expenses: 1000
Total: 9000
Our take home pay after maxing retirement, health insurance and group life insurance: 19,000
Monthly saving: 10,000 for vacations, house remodel, saving,
Gross HHI 350k
We are very fugal, but otherwise feel comfortable. If you can accept public school, 350k can get you there.
You spend $2000/month on food (!!!) and $1000/month on a child’s activities.
They save 10k/mo pus maxing 401ks..they are incredibly frugal...
Which is not middle class standards
Anonymous
04/06/2023 20:48
Subject: $500k is middle class in DC now
Anonymous wrote:USC cost of attendance recently hit $90k, and other colleges aren’t far behind. If you have 3 kids you need to save at minimum $1M in 529s for undergrad. $90,000 x 3 kids x 4 years. Daycare is at minimum $3k/month, so $36k per year per kid of daycare. A house in a good school district is $2M at minimum. And so on.
The middle class has and should always be able to afford the most expensive university in the country with cash! This, tv dinners, and a day at the fair are standard middle class stuff. And a Bugatti, you are not middle class unless you have at least one.
Anonymous
04/06/2023 20:47
Subject: $500k is middle class in DC now
Anonymous wrote:Anonymous wrote:My monthly expenses for a family of four, 1.5mn modest outside beltway NoVa house, two cars.
Mortgage (PITI): 3,500
Utilities: 500
Cleaning and landscaping: 500
Daycare for kid no.2: 1000
Food: 2000
Kids activities for kid no.1: 1000
2 Car maintenance and gas: 500
529 saving: 1000
other expenses: 1000
Total: 9000
Our take home pay after maxing retirement, health insurance and group life insurance: 19,000
Monthly saving: 10,000 for vacations, house remodel, saving,
Gross HHI 350k
We are very fugal, but otherwise feel comfortable. If you can accept public school, 350k can get you there.
How is your take home $19k? At the same gross income, after maxing out just one 401k, we have about $16k. Did you owe any taxes?
PP here. Sorry our expenses are 11k instead of 9. My brain wasn’t working .
One of us is World Bank so the salary is exempt from US income tax, hence the higher take home
Anonymous
04/06/2023 20:35
Subject: Re:$500k is middle class in DC now
We are eating Dino nuggets for Easter this year because jet repairs wiped us out.
Anonymous
04/06/2023 20:31
Subject: $500k is middle class in DC now
Anonymous wrote:My monthly expenses for a family of four, 1.5mn modest outside beltway NoVa house, two cars.
Mortgage (PITI): 3,500
Utilities: 500
Cleaning and landscaping: 500
Daycare for kid no.2: 1000
Food: 2000
Kids activities for kid no.1: 1000
2 Car maintenance and gas: 500
529 saving: 1000
other expenses: 1000
Total: 9000
Our take home pay after maxing retirement, health insurance and group life insurance: 19,000
Monthly saving: 10,000 for vacations, house remodel, saving,
Gross HHI 350k
We are very fugal, but otherwise feel comfortable. If you can accept public school, 350k can get you there.
How is your take home $19k? At the same gross income, after maxing out just one 401k, we have about $16k. Did you owe any taxes?
Anonymous
04/06/2023 20:29
Subject: $500k is middle class in DC now
Anonymous wrote:My monthly expenses for a family of four, 1.5mn modest outside beltway NoVa house, two cars.
Mortgage (PITI): 3,500
Utilities: 500
Cleaning and landscaping: 500
Daycare for kid no.2: 1000
Food: 2000
Kids activities for kid no.1: 1000
2 Car maintenance and gas: 500
529 saving: 1000
other expenses: 1000
Total: 9000
Our take home pay after maxing retirement, health insurance and group life insurance: 19,000
Monthly saving: 10,000 for vacations, house remodel, saving,
Gross HHI 350k
We are very fugal, but otherwise feel comfortable. If you can accept public school, 350k can get you there.
I’m surprised your take home is $19k. At the same gross income level and also maxing out just 1 401k, ours is at most $16k or so. Do you owe taxes at the end of the year?
Anonymous
04/06/2023 13:05
Subject: $500k is middle class in DC now
Anonymous wrote:Anonymous wrote:What’s a USC?
University of South Carolina
USC is not South Carolina unless you live in NC, SC and maybe Georgia. To the rest of the world, USC is in California.
Anonymous
04/06/2023 12:58
Subject: $500k is middle class in DC now
Yeah it’s 11k
Anonymous
04/06/2023 12:30
Subject: Re:$500k is middle class in DC now
I counted 11k
Not sure how these people are pulling their salaries
Not sure how these people are pulling their salaries
Anonymous
04/06/2023 12:20
Subject: $500k is middle class in DC now
Mortgage (PITI): 3,500
Utilities: 500
Cleaning and landscaping: 500
Daycare for kid no.2: 1000
Food: 2000
Kids activities for kid no.1: 1000
2 Car maintenance and gas: 500
529 saving: 1000
other expenses: 1000
Total: 9000
This equals $10,000 no?
Utilities: 500
Cleaning and landscaping: 500
Daycare for kid no.2: 1000
Food: 2000
Kids activities for kid no.1: 1000
2 Car maintenance and gas: 500
529 saving: 1000
other expenses: 1000
Total: 9000
This equals $10,000 no?
Anonymous
04/06/2023 11:49
Subject: $500k is middle class in DC now
Anonymous wrote:Anonymous wrote:My monthly expenses for a family of four, 1.5mn modest outside beltway NoVa house, two cars.
Mortgage (PITI): 3,500
Utilities: 500
Cleaning and landscaping: 500
Daycare for kid no.2: 1000
Food: 2000
Kids activities for kid no.1: 1000
2 Car maintenance and gas: 500
529 saving: 1000
other expenses: 1000
Total: 9000
Our take home pay after maxing retirement, health insurance and group life insurance: 19,000
Monthly saving: 10,000 for vacations, house remodel, saving,
Gross HHI 350k
We are very fugal, but otherwise feel comfortable. If you can accept public school, 350k can get you there.
You spend $2000/month on food (!!!) and $1000/month on a child’s activities.
They save 10k/mo pus maxing 401ks..they are incredibly frugal...
Anonymous
04/06/2023 10:32
Subject: $500k is middle class in DC now
Anonymous wrote:Anonymous wrote:It’s been known as “University of Spoiled Children” for at least 40+ years.
Came here to say exactly this!
University of South Carolina or Southern California?
Anonymous
04/06/2023 10:12
Subject: $500k is middle class in DC now
Anonymous wrote:My monthly expenses for a family of four, 1.5mn modest outside beltway NoVa house, two cars.
Mortgage (PITI): 3,500
Utilities: 500
Cleaning and landscaping: 500
Daycare for kid no.2: 1000
Food: 2000
Kids activities for kid no.1: 1000
2 Car maintenance and gas: 500
529 saving: 1000
other expenses: 1000
Total: 9000
Our take home pay after maxing retirement, health insurance and group life insurance: 19,000
Monthly saving: 10,000 for vacations, house remodel, saving,
Gross HHI 350k
We are very fugal, but otherwise feel comfortable. If you can accept public school, 350k can get you there.
You spend $2000/month on food (!!!) and $1000/month on a child’s activities.
Anonymous
04/06/2023 10:09
Subject: $500k is middle class in DC now
My monthly expenses for a family of four, 1.5mn modest outside beltway NoVa house, two cars.
Mortgage (PITI): 3,500
Utilities: 500
Cleaning and landscaping: 500
Daycare for kid no.2: 1000
Food: 2000
Kids activities for kid no.1: 1000
2 Car maintenance and gas: 500
529 saving: 1000
other expenses: 1000
Total: 9000
Our take home pay after maxing retirement, health insurance and group life insurance: 19,000
Monthly saving: 10,000 for vacations, house remodel, saving,
Gross HHI 350k
We are very fugal, but otherwise feel comfortable. If you can accept public school, 350k can get you there.
Mortgage (PITI): 3,500
Utilities: 500
Cleaning and landscaping: 500
Daycare for kid no.2: 1000
Food: 2000
Kids activities for kid no.1: 1000
2 Car maintenance and gas: 500
529 saving: 1000
other expenses: 1000
Total: 9000
Our take home pay after maxing retirement, health insurance and group life insurance: 19,000
Monthly saving: 10,000 for vacations, house remodel, saving,
Gross HHI 350k
We are very fugal, but otherwise feel comfortable. If you can accept public school, 350k can get you there.
Anonymous
04/05/2023 22:28
Subject: Re:$500k is middle class in DC now
Y’all laugh but there are actually people who think this: https://www.financialsamurai.com/400k-income/