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I'm kind of disappointed by this article. As someone who makes a little over six figures (before combined comp.) in the Bay Area I expected to relate a lot to t

I'm kind of disappointed by this article. As someone who makes a little over six figures (before combined comp.) in the Bay Area I expected to relate a lot to the individuals described in this article. Instead is just had 4 testimonials from individuals who weren't happy on a six-figure income, it failed to list any of the root causes either then a small jab at the tax code.

xt00 9y ago
Yea I can agree that 100k is very much not what it used to be 10-15 years ago.. the main difference is that a “cheap house” in many areas that are doing economically well on the West Coast like Seattle, Portland, Bay Area, LA, are much more expensive than they were even before the 2008 crash.. so if you make 100k/year you end up with maybe 6k take home each month and if you mortgage is 3k/month, then spend saying 2k on fixed expenses per month then you realize you have very little leeway especially if you are trying to pay off student loans as well.. I think the combination of cities trying to get people to live closer by reducing investment in roads and focusing on density and local rail and bus systems has made it that it’s way more painful to live far outside the city.. so housing effectively is higher. Then the much increased cost of student loans compared to the past, you have a much greater set of fixed costs compared to people 20 years ago..
Retra 9y ago
Yeah, it's a lot of "100K seems good until the debt piles up", and I'm wondering where the debt came from and why they're letting it pile up. And why people making half that wouldn't have the same debt with even less ability to manage it.
- CamelCaseName 9y ago
  Student loans to earn that 100K a year. Housing to live near a job that pays 100K a year.
thesmallestcat 9y ago
Sounds like two have crushing debt. The family that's "struggling" on $100k in KC (really?) wants for "educational opportunities for her high-school-aged son," whatever that means, which somehow translates to "working overtime ... to make enough money to live on" (emphasis added). The last account is absent any useful info, just some "Keeping up with the Joneses" comments. It's a puff piece so that relatively well off, comfortable families can commiserate in the shared "struggle."

xt00 9y ago

Yea I can agree that 100k is very much not what it used to be 10-15 years ago.. the main difference is that a “cheap house” in many areas that are doing economically well on the West Coast like Seattle, Portland, Bay Area, LA, are much more expensive than they were even before the 2008 crash.. so if you make 100k/year you end up with maybe 6k take home each month and if you mortgage is 3k/month, then spend saying 2k on fixed expenses per month then you realize you have very little leeway especially if you are trying to pay off student loans as well.. I think the combination of cities trying to get people to live closer by reducing investment in roads and focusing on density and local rail and bus systems has made it that it’s way more painful to live far outside the city.. so housing effectively is higher. Then the much increased cost of student loans compared to the past, you have a much greater set of fixed costs compared to people 20 years ago..

Retra 9y ago

Yeah, it's a lot of "100K seems good until the debt piles up", and I'm wondering where the debt came from and why they're letting it pile up. And why people making half that wouldn't have the same debt with even less ability to manage it.

CamelCaseName 9y ago
Student loans to earn that 100K a year. Housing to live near a job that pays 100K a year.

thesmallestcat 9y ago

Sounds like two have crushing debt. The family that's "struggling" on $100k in KC (really?) wants for "educational opportunities for her high-school-aged son," whatever that means, which somehow translates to "working overtime ... to make enough money to live on" (emphasis added). The last account is absent any useful info, just some "Keeping up with the Joneses" comments. It's a puff piece so that relatively well off, comfortable families can commiserate in the shared "struggle."