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As a family just inside that 5% mark, my first reaction is to object to the idea that I'm somehow part of a wealthy elite. However, my second reaction is shock
by hcurtiss 11y ago
As a family just inside that 5% mark, my first reaction is to object to the idea that I'm somehow part of a wealthy elite. However, my second reaction is shock that the median household income is $53,000. If you've got a couple kids in Portland, Oregon and you're making $53,000, you're going to have a bad day. I guess I'm left with a feeling of doom that I'm going to be asked to support so many people when I feel like I have so little margin. We're investing in our retirement, investing in our kids' 529, and paying down debts. With a home loan and student debt, we're worth considerably less than zero. I've never been overseas, and I mostly vacation in state. If I'm the mule that's supposed to carry this load, I fear we're all going to have a bad day.
- omonra 11y agoThe author is being disingenuous with numbers. He's talking about 'household income' - when a large percent of households comprising of one person. http://blogs.wsj.com/numbers/one-in-four-american-households-is-one-person-living-alone-1696/ http://blogs.wsj.com/numbers/one-in-four-american-households... "The proportion of one-person households increased by 10 percentage points between 1970 and 2012, from 17 percent to 27 percent."
- eli_gottlieb 11y ago>investing in our kids' 529 How large is that going to be? > With a home loan and student debt Elizabeth Warren keeps banging on about housing, health-care, education, and energy being the four out-of-proportion expenses in a middle-class budget. They are also some of the most amenable to state intervention.
- zeckalpha 11y ago> With a home loan... Is your LTV ratio greater than 1? I suspect you might be not including the market value of your home against your loan.