Is it better for a middle class citizen to rent or own? (work)

[aramax666]

I am an electronics engineer with 7 years exp in the US. And i think Software engineer in niche areas will also pay that well. And banking for certain.

But I was very very lucky I think. Depending on who you ask, that number is not too common.

Disclosure: My base pay is abt 160. And I am counting 401K match as well. I made half of my present amount 2 years ago. I am certain this will not last. So not counting on anything. But I hope we can translate this to some security for the family.

Originally Posted by ramoscats

If you don't mind me asking, what do you do for a living? I'm curious as to what jobs or careers give someone the potential to earn almost $300K / year?

[ssmaster]

Originally Posted by smashystyle

My objection is more about calling that lifestyle upper middle class than disputing that it's cheaper to live in Atlanta. I do think the difference in private school tuition is less than you suggest. Good private schools in Atlanta are $20-25k/year. Other expenses (cars, vacations) are comparable, so the difference is almost entirely in housing costs. $1MM more on a mortgage is what, $75k more after taxes?

I think of upper middle class in the Bay Area as closer to living in Walnut Creek and sending your kids to public school, by the way. Average housing sale price in WC last month was $929k, btw.

My examples were glen park and rockridge which are in the urban core, have BART,nice French restaurants, walkable .areas were homes are selling around $1.8 million and where public schools are not always an option

upper middle class vs affluent vs rich varies depending on who you talk to. My definition of rich is what the SEC and private banking industry use $1 million in net worth NOT including home equity .hnwi. I consider Anything less as affluent or upper middle class


College prep in Oakland has tuition of $39,000 a year
San Francisco university high school $40,0000
I tried to use mid level range for both Bay Area and Atlanta

[Ultrarunner]

Oakland's Bishop O'Dowd College Prep is under 20k

Bishop O'Dowd High School - Tuition and Tuition Assistance

One of the Doctors I work with had a beautiful home in the Oakland Hills with spectacular views... As his two children were nearing school age they sold and bought a 2m home in Orinda... not liking the Orinda Public School his kids now go to a Royce in Oakland and last I heard it was 60k+ for the two of them.

[Chuck5000]

aramax - you are wise to plan on your super high salary not lasting. A correction here could put some people out of work for months at a time.

[aramax666]

I will be booted out to indiA if i lose my job. I will make it work for 80 k / yr if i have too.

[dburbs1975]

you will make it. I follow your posts, and I suspect you will make it work no matter what. It is part what you make, part what you make of it.

[silverkris]

Originally Posted by Ultrarunner

Oakland's Bishop O'Dowd College Prep is under 20k

Bishop O'Dowd High School - Tuition and Tuition Assistance

One of the Doctors I work with had a beautiful home in the Oakland Hills with spectacular views... As his two children were nearing school age they sold and bought a 2m home in Orinda... not liking the Orinda Public School his kids now go to a Royce in Oakland and last I heard it was 60k+ for the two of them.

Wow. The Orinda schools are pretty darned good in my opinion. High Schools are Campolindo and Acalanes, which are really tops.

[sav858]

Acalanes is Lafayette and Campo is Moraga, Orinda's high school is Miramonte.

[Ultrarunner]

I guess it is the case of there is always something better if you can afford it...

Just thought it interesting the family with a gorgeous 7 year old custom home with 5 bridge view sold it to move to over the hill for schools... paid 2 million for that home and after a year decided the schools were just not good enough and now they send the kids to Head Royce

Head-Royce

[silverkris]

Originally Posted by sav858

Acalanes is Lafayette and Campo is Moraga, Orinda's high school is Miramonte.

Thanks for the correction - all darned good nevertheless. I was thinking about the district in general. The other school in the Acalanes High School District is Las Lomas in Walnut Creek, which is also very good.