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Old 04-27-2018, 07:02 PM
 
Location: Olympus Mons, Mars
5,000 posts, read 8,032,221 times
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Per CNBC "comfortable" middle class lifestyle is many of the major metros requires $300,000/yr..

https://www.cnbc.com/2018/04/27/sam-...00-a-year.html

Seems high, I would say $200,000/yr would do it, anything lower than $200,000/yr and it would not be optimal in terms of raising kids, living in a good area with good schools, saving for retirement and taking the family on a vacation or two a year.
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Old 04-27-2018, 08:22 PM
 
3,583 posts, read 1,510,560 times
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Typical nonsense, assuming that New York and San Francisco are the only "major metros"; then saying half the country lives "on the coasts", which while it may be roughly correct - if you mean "coastal states" not "actually in port cities", also assumes that all of "the coasts" is like NY and SF.

I rather doubt that you have to earn 300k to live a decent life in Portland, ME; Baltimore; Trenton; Norfolk; Raleigh; Columbia SC; Jacksonville FL; Spokane; Sacramento; Bakersfield; or Fresno.

It's sometimes kind of annoying how so many people just assume that the United States consists of NY, Boston, San Francisco, and Seattle.
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Old 04-27-2018, 08:56 PM
 
Location: Kansas City, MISSOURI
5,497 posts, read 1,651,715 times
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From the article:
Quote:
In order to comfortably raise a family in an expensive coastal city like San Francisco or New York,
Uh yeah, NY and SF. Probably don't even really need that much in those two cities.
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Old 04-27-2018, 09:39 PM
 
9,313 posts, read 13,839,731 times
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This is that Financial Samurai guy again. $1.5M house? Please... I have a 4BR house in a decent suburb in the NYC area and it's worth less than $500,000. Want a train town or nicer school district it'll go up, but under $1M is still pretty easy. Health insurance comes off the pre-tax line, not post, and premiums should be closer to half that at a decent job. Mortgage interest and $10,000 of property tax should be deductible also, no need for standard deduction.
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Old 04-27-2018, 09:46 PM
 
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
20,780 posts, read 37,451,783 times
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Quote:
Originally Posted by turf3 View Post
Typical nonsense, ...
I rather doubt that you have to earn 300k to live a decent life in Portland, ME; ...
It's sometimes kind of annoying how so many people just assume that the United States consists of NY, Boston, San Francisco, and Seattle.
YMMV...
Considering I lived a VERY comfortable left coast middle class life (and raised a family) on <$68k MAX annual single wage earner income AND managed to retire pre-age 50... I would say YMMV...I will stick with VISITING SFO and NYC as frequently as I like (at least 1 weekend / month).

I know many coworkers / retirees who very comfortably live in SF Bay area on under $100k earnings / yr (With home paid for), There are options, but can't say BUYING a home would ever come to my mind . I would buy a commercial building in tax free Reno (for 1/2 the cost of a SFO home), and enjoy PLENTY of cash flow to cover my rent. (SFO or elsewhere)\

Author and readership is totally out of touch.
A Sensational lifestyle comes with a price. Be prepared to pay the 'price-of-admission'!

might want to check your rationale.
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Old 04-28-2018, 04:43 AM
 
2,240 posts, read 1,385,700 times
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300k for a middle class life style on the coast and 150k in the middle of the country? 500 a WEEK on food? A 1.5 million dollar house? Ok.

I guess you have to be in the 90th percentile to be “middle” class.

Last edited by Thatsright19; 04-28-2018 at 04:52 AM..
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Old 04-28-2018, 07:07 AM
 
Location: New York
687 posts, read 517,838 times
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LOL��������������
That cheered me up, I needed a good laugh this morning!
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Old 04-28-2018, 07:22 AM
 
Location: Washington State
15,355 posts, read 8,020,336 times
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Quote:
Originally Posted by k374 View Post
Per CNBC "comfortable" middle class lifestyle is many of the major metros requires $300,000/yr..

https://www.cnbc.com/2018/04/27/sam-...00-a-year.html

Seems high, I would say $200,000/yr would do it, anything lower than $200,000/yr and it would not be optimal in terms of raising kids, living in a good area with good schools, saving for retirement and taking the family on a vacation or two a year.
I agree...if you are in a high cost location such as NYC, SF, LA, Seattle, Boston. In most of America, that's probably closer to low 200's.
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Old 04-28-2018, 08:36 AM
 
592 posts, read 719,515 times
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Normal liberal gibberish. That means no country in the world has a middle class. Anywhere. Similar to the arbitrary "poverty level" calculation we hear about all the time.
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Old 04-28-2018, 10:38 AM
 
Location: Silicon Valley
2,747 posts, read 1,207,954 times
Reputation: 5047
Quote:
Originally Posted by turf3 View Post
I rather doubt that you have to earn 300k to live a decent life in Portland, ME; Baltimore; Trenton; Norfolk; Raleigh; Columbia SC; Jacksonville FL; Spokane; Sacramento; Bakersfield; or Fresno.
Personally, I don't think you can live a decent life in Bakersfield for $1M a year....but maybe I'm looking at this wrong.
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