Middle class income (Edison, Toms River, Woodbridge: day care, how much, house)

[tom1944]

What do you think is a middle class income in NJ. Figure husband and wife both work, own a small 3 br home in an average town-Woodbridge, Edison, Toms River etc, 2 kids, 2 used cars each 5 years old, putting 10-15% of their income away for retirement and trying to save for college at a NJ public school? Day care and 25 mile one way commute.

How much would you need in combined income? Figure average property tax of $7200- the State average.

[GiantRutgersfan]

Depends on a lot of factors. Particularly when and where you bought your house.


Married couple moving to the state? I would say $70,000-135,000 before taxes would be the range for "middle class".

[Ann77]

150K total income.

[JERSEY MAN]

Toms River you can get a decent home for 250-300. 100 combined would be OK in this community. The schools are decent. TR North is good. I couldn't comment on the other 2 but I know 100K combined is not enuf up there.

[80r]

I'd say about 120, but it varies hugely. Some people aren't good with money and need a lot more to live the same lifestyle as another. Case in point, 2 families I know. Family 1 makes $125k/year and Family 2 makes $100k/year. #2s children go to $40k+/yr colleges, have a house worth 1.5-2x as much, go on more vacations, have cars worth around 3-4x as much, and have their home furnished far nicer. If you compared the two, side by side, you'd think Family 2 had twice as much income, yet it's less.

So what's the difference, you ask? Interest. Family 2 has zero debt. They made their purchases wisely, only buying what they could afford at the time of purchase, even on their home; they're on their third house, which is fully paid off, and they're younger than Family 1, who's on their first home, which is not paid off.