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Yeah, so my point is maybe not a good one, but $350k - even in the priciest metro - is not middle class. Uh uh. No way. You are basically rich at that income level. Even if your house is worth (boo hoo) $1.8 million.
It all depends on your location, your background and your expectations. For some 350 seems like a number out there while for others it is not enough.
It all depends on your location, your background and your expectations. For some 350 seems like a number out there while for others it is not enough.
Sure....and you can say the same thing for 1 million dollars. For some 1 million seems like a number out there while for others it is not enough. I can spend 1 million dollars per year, hell I could spend 5 million. Does that mean that it's not enough? I've always wanted a nice 55 ft yacht, I'd actually prefer two boats, a 55 ft yacht that I keep in a marina in Fort Lauderdale and a 40 ft powerboat that I keep on a lake near my house. I'd clearly need 3 houses at that point as well, one in the area I'm currently in, one at the lake and one down in Fort Lauderdale.
Plenty of blue collar with two incomes make it there, plenty of non-academic one and two income families make it there.
“Plenty” is subjective, but it is not more than 2-3% of US households. 97% of US households actually make less than $250,000 a year according to stats that I’ve seen.
“Plenty” is subjective, but it is not more than 2-3% of US households. 97% of US households actually make less than $250,000 a year according to stats that I’ve seen.
You can’t argue the facts.
What they mean is plenty of the people in their social circle make it there.
Quote:
Originally Posted by Threestep
Neuro working for 350 has enough law suits to make him unemployable:>)
Plenty of blue collar with two incomes make it there, plenty of non-academic one and two income families make it there.
I find it hard to believe that plenty of blue collar 2 income household make it to $350k/yr HH income. What common blue-collar jobs pay $175k+/yr other than the people that own the blue-collar businesses?
Even the examples from Sam's blog that shows a transit janitor in the Bay making $234k conveniently leaves out the fact that he works 17/day 7 days a week and almost all of that comes from over time that he makes. Surely, not something just anyone can replicate or is even capable of replicating.
The bottom line is that $350k/year is higher than what 98% of ...
The more critical distinction is EARNED income vs that from investments...
especially so when it was someone else altogether who earned that portfolio.
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