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2
Posted on 2/10/20 at 12:51 pm to HarveyBanger
Anything under $10 million a year.
Posted on 2/10/20 at 12:53 pm to slackster
quote:well, yeah
What you should have said is "it would be hard to support a family on $100k the way I'd like to support a family".
Posted on 2/10/20 at 12:55 pm to GreatLakesTiger24
quote:
What you should have said is "it would be hard to support a family on $100k the way I'd like to support a family".
well, yeah
You know I'm generally on the "things are about as good/shitty for people today as they were 40 years ago" train, but making sacrifices is basically a hallmark of the middle class. That holds true today and it did 40 years ago too.
Posted on 2/10/20 at 12:55 pm to TH03
People who make 200k or 500k or whatever and talk about "feeling the hurt" probably mean they're cash poor and are paying a lot to service debt.
I know a ton of people who make a lot of money and have great (inaccessible) retirement accounts but have little in the way of liquid assets because they live the lifestyle normal for people who make 200-500k but keep dipping into debt when that lifestyle runs up against real life (HVAC goes out, hospital stay, etc.)
They're not in danger of becoming destitute or getting foreclosed upon, but they might be in danger of missing a mortgage payment because they're living a paycheck-to-paycheck lifestyle even if they have significant net worth they could tap into if absolutely necessary. Basically they flirt with financial trouble and the stress that comes with it even if they ultimately have a backstop for it.
I know a ton of people who make a lot of money and have great (inaccessible) retirement accounts but have little in the way of liquid assets because they live the lifestyle normal for people who make 200-500k but keep dipping into debt when that lifestyle runs up against real life (HVAC goes out, hospital stay, etc.)
They're not in danger of becoming destitute or getting foreclosed upon, but they might be in danger of missing a mortgage payment because they're living a paycheck-to-paycheck lifestyle even if they have significant net worth they could tap into if absolutely necessary. Basically they flirt with financial trouble and the stress that comes with it even if they ultimately have a backstop for it.
Posted on 2/10/20 at 12:59 pm to Pettifogger
people like that also tend to rent/lease all kinds of shite or buy things with no secondary market value
if you got a new truck, a new boat, and $2000 in YETI-related assets, it might be time to spend a few weeks at home eating PB&J's and seeing what's good on netflix
if you got a new truck, a new boat, and $2000 in YETI-related assets, it might be time to spend a few weeks at home eating PB&J's and seeing what's good on netflix
Posted on 2/10/20 at 1:02 pm to lsu777
quote:why do you people keep saying this?
And it's not debatable, I showed you a ton of examples. Your referencing the top 10 most expensive cities and assuming that's how they all are.
I have never and probably will never live in a top ten expensive city.
Posted on 2/10/20 at 1:07 pm to HT713
quote:
people like that also tend to rent/lease all kinds of shite or buy things with no secondary market value
For sure
Although I will say I know plenty of people who don't do "toys" but get to the same place because they travel a lot or eat out every night spending 50+ bucks for uneventful dinners on a Tuesday. Honestly, I think you just get used to doing whatever you want (within reason, not crazy stuff) whenever you want and don't budget or put any limits on what you're spending for dining out, furnishing a house, etc.
We don't have kids but several of our friends have promised us we'll probably save money (at first) when we do. Simply because we're all so used to doing whatever we want - "oh it's nice out and we're bored let's go spend 100 bucks at the brewery for no reason then another 100 on a dinner at a place we don't even like that much after buying some rug my wife wants for 500 dollars."
Posted on 2/10/20 at 1:08 pm to TheCaterpillar
quote:
The wife and i with 0 kids have a household of about 200 and we still feel the hurt at times.
quote:
Well, you're a moron
I'm in that boat, but I think the "hurt" is more of a "I'm a cheap arse/smart saver feeling" feeling." For me it is anyway. I put a lot towards my 401k, great medical insurance, high % percent goes to savings. These factors play into a low % of money in my checking account. And being the cheap/smart spender I am, I will forgo purchases or trips until my checking has built up enough. I never go into my savings.
Posted on 2/10/20 at 1:08 pm to Pettifogger
quote:
We don't have kids but several of our friends have promised us we'll probably save money (at first) when we do. Simply because we're all so used to doing whatever we want - "oh it's nice out and we're bored let's go spend 100 bucks at the brewery for no reason then another 100 on a dinner at a place we don't even like that much after buying some rug my wife wants for 500 dollars."
100% truth
Posted on 2/10/20 at 1:11 pm to Pettifogger
Most people definitely tend to stay home a lot more often when they have young kids. If you both work daycare can be a bitch though.
Posted on 2/10/20 at 1:11 pm to GreatLakesTiger24
I graduated from LSU in 1990 and was making $3.15/hr slinging yogurt at TCBY.
My expectations for living the life was anything over $25k/yr. My dad was making 10k/yr working for South Central bell until the early 80s so I thought when i hit 25k I would be a success as an adult.
Now I'm making a tad more than that and my lifestyle has gone up accordingly but I've never forgotten where I came from. I still tell my wife if everything went to shite I would go deliver pizzas and we would figure it out.
I never once felt like I was "poor" growing up when we would occasionally have to drink powdered milk and eat red beans for dinner. My dad was a Korean war vet and he would whup us if he caught us wasting money or food.
He said he saw real hunger when he was overseas and he vowed to never waste food because of it. He would even go after spoiled food if my mom didn't get to it first. man had a cast iron stomach.
Anyway everyone grows up differently so there is no definition of middle class except what you define as acceptable to yourself.
My expectations for living the life was anything over $25k/yr. My dad was making 10k/yr working for South Central bell until the early 80s so I thought when i hit 25k I would be a success as an adult.
Now I'm making a tad more than that and my lifestyle has gone up accordingly but I've never forgotten where I came from. I still tell my wife if everything went to shite I would go deliver pizzas and we would figure it out.
I never once felt like I was "poor" growing up when we would occasionally have to drink powdered milk and eat red beans for dinner. My dad was a Korean war vet and he would whup us if he caught us wasting money or food.
He said he saw real hunger when he was overseas and he vowed to never waste food because of it. He would even go after spoiled food if my mom didn't get to it first.
man had a cast iron stomach. Anyway everyone grows up differently so there is no definition of middle class except what you define as acceptable to yourself.
This post was edited on 2/10/20 at 1:13 pm
Posted on 2/10/20 at 1:12 pm to fallguy_1978
quote:
Most people definitely tend to stay home a lot more often when they have young kids. If you both work daycare can be a bitch though.
Yeah I'm not under any illusion that it won't ultimately be far more expensive
But the impression I get is that you won't be doing much "boredom" spending because you'll be too tired and won't have the opportunity.
Posted on 2/10/20 at 1:13 pm to Pettifogger
quote:
But the impression I get is that you won't be doing much "boredom" spending because you'll be too tired and won't have the opportunity.
well that and its just not fun to go out with kids
Posted on 2/10/20 at 1:14 pm to Pettifogger
quote:
"oh it's nice out and we're bored let's go spend 100 bucks at the brewery for no reason then another 100 on a dinner at a place we don't even like that much after buying some rug my wife wants for 500 dollars."
I'm stuck in this rut and it's frustrating as hell
I'm 30 so probably gonna' have kids in the next 2-3 years, maybe that will fix my impulse-control problems
Posted on 2/10/20 at 1:15 pm to CAD703X
quote:people in middle class have Amazon Prime subscriptions
there's absolutely no way to quantify this. 'middle class' is a state of mind and i'd argue plenty of people making under 100k are 'middle class' and plenty of people making well over 100k are not.
the standard of living in this country is off the charts so unless you're living in government housing, you can be 'middle class' on just about any income.
Posted on 2/10/20 at 1:54 pm to SuperSaint
zing
Posted on 2/10/20 at 1:57 pm to HarveyBanger
Family of 4 under 160K
Posted on 2/10/20 at 2:06 pm to Pettifogger
quote:
We don't have kids but several of our friends have promised us we'll probably save money (at first) when we do. Simply because we're all so used to doing whatever we want - "oh it's nice out and we're bored let's go spend 100 bucks at the brewery for no reason then another 100 on a dinner at a place we don't even like that much after buying some rug my wife wants for 500 dollars."
Yep, but I'm not ready to have a kid and give that up.
Posted on 2/10/20 at 2:08 pm to TH03
I knocked my wife up accidentally after we were married for 6 months. I'll be an empty nester at 46 though
This post was edited on 2/10/20 at 2:09 pm
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