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Old 06-25-2008, 10:16 AM
 
Location: Houston, TX (Oak Forest)
3,547 posts, read 7,115,084 times
Reputation: 2330
Median income numbers for the entire country can also give you a very skewed view of what people make. The "average family" in the US might make 45k per year, but if you look at a smaller subsection the numbers are quite a bit different, for example the median income for households where at least one person holds a professional degree is 104k/year.
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Old 06-25-2008, 10:34 AM
 
Location: 77059
7,699 posts, read 17,710,322 times
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Quote:
Originally Posted by chris_ut View Post
Median income numbers for the entire country can also give you a very skewed view of what people make. The "average family" in the US might make 45k per year, but if you look at a smaller subsection the numbers are quite a bit different, for example the median income for households where at least one person holds a professional degree is 104k/year.

Agreed:
Image:Education Income.jpg - Wikipedia, the free encyclopedia

But what is ''professional''? Vs. a bachelors? It looks better than a PhD even.

On the other hand, does someone with a degree have more basic life necessities than someone without?
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Old 06-25-2008, 11:09 AM
 
Location: Houston, TX (Oak Forest)
3,547 posts, read 7,115,084 times
Reputation: 2330
Quote:
Originally Posted by tstone View Post
Agreed:
Image:Education Income.jpg - Wikipedia, the free encyclopedia

But what is ''professional''? Vs. a bachelors? It looks better than a PhD even.

On the other hand, does someone with a degree have more basic life necessities than someone without?
Professional is MBA, doctor, lawyer etc..

Well is your argument that as long as you can afford your basic necessities (food, water, shelter) that your fine and anyone who has more is spoiled? Should the government seize all money you make above the amount required for that and redistribute it to others? I think they tried that before in a few places and it didn't work out too well.
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Old 06-25-2008, 11:23 AM
 
Location: 77059
7,699 posts, read 17,710,322 times
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Quote:
Originally Posted by chris_ut View Post
Professional is MBA, doctor, lawyer etc..

Well is your argument that as long as you can afford your basic necessities (food, water, shelter) that your fine and anyone who has more is spoiled? Should the government seize all money you make above the amount required for that and redistribute it to others? I think they tried that before in a few places and it didn't work out too well.
Some people would even tell me with my fully furnished 4 bedrooms and 3 shiny (paid-off) cars for 2 people, that I'm spoiled and being wasteful.

Household income is over 160k -- you think I want to redistribute that? HA! We avoid debt and live frugally to build wealth. So we can help send my 3 nieces and nephews in not-so-priviledged situations, as well as our future kids through college. So we can travel the world and not be small-minded, dumbass Texans. So we can have something to retire on while the rest of the country looks to the government's broken system for a handout. None of that makes me a socialist. There is a difference between being a socialist and having remedial money managment skills.
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Old 06-25-2008, 12:05 PM
 
Location: Houston Inner Loop
655 posts, read 681,217 times
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Quote:
Originally Posted by tstone View Post
Some people would even tell me with my fully furnished 4 bedrooms and 3 shiny (paid-off) cars for 2 people, that I'm spoiled and being wasteful.

Household income is over 160k -- you think I want to redistribute that? HA! We avoid debt and live frugally to build wealth. So we can help send my 3 nieces and nephews in not-so-priviledged situations, as well as our future kids through college. So we can travel the world and not be small-minded, dumbass Texans. So we can have something to retire on while the rest of the country looks to the government's broken system for a handout. None of that makes me a socialist. There is a difference between being a socialist and having remedial money managment skills.
I agree with your post. I don't note anything in the original poster's message pertaining to retirement, savings, etc. Sad...
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Old 06-25-2008, 12:08 PM
 
Location: Center Twp, PA
469 posts, read 940,749 times
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My husband went through law school, but is not a practicing lawyer, it does help him with his job though. I did not finish college, so I do not make much money; we calculated that it is cheaper for me to stay home with our 1 & 2 year daughters than have them in daycare.
We live on $80,000 a year (before taxes) and after the mortgage, car pymt (one is paid for) college fund and all the rest, there is not much left. He does (and always has) put the max into his retirement savings so we will not have to rely on anyone; but keeping our heads above water is sometimes hard.
It is just really fustrating to not be able to get ahead; everything seems to going up except for salaries.
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Old 06-25-2008, 12:21 PM
 
200 posts, read 635,719 times
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Quote:
Originally Posted by Stephanie P View Post
we calculated that it is cheaper for me to stay home with our 1 & 2 year daughters than have them in daycare.
and even better for the kids. I can't have my wife quit and stay at home even though I make enough for both of us and even though we have a nanny(mom). She has a H1B visa.
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Old 06-25-2008, 12:24 PM
 
Location: Center Twp, PA
469 posts, read 940,749 times
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Quote:
Originally Posted by Hayato View Post
and even better for the kids. I can't have my wife quit and stay at home even though I make enough for both of us and even though we have a nanny(mom). She has a H1B visa.
I'm sorry, does that mean a work visa?
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Old 06-25-2008, 12:35 PM
 
200 posts, read 635,719 times
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Quote:
Originally Posted by Stephanie P View Post
I'm sorry, does that mean a work visa?
Yes, she has to work to stay in the US, even tho her child is a US citizen hehe. I only have a greencard.
I do feel for many american family units where stay-at-home is the regular way of balancing the budget and raising kids
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Old 06-25-2008, 12:36 PM
 
912 posts, read 1,619,627 times
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Quote:
Originally Posted by feufoma View Post
I agree with your post. I don't note anything in the original poster's message pertaining to retirement, savings, etc. Sad...
Regarding savings I have in excess of 300,000 US in cash, shares, a non contributory pension fund and have all my medical expenses paid for in the US, I also own a portfolio of non-US property exceeding 3/4 mil US$.

However I'll be taking an effective pay cut to come to the US due to the very weak $ which is why I asked the question about day to day living and expenses. I'll be living solely off my limited salary while my non US investments will be ringfenced outside the $ zone.

edit to add: no debt whatsoever either, not a red cent I don't believe in borrowing money.
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