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If you’re just talking about income, it’s a worthless question. Actual wealth has a lot more involved than just income. If you make $400k as a couple in Silic
by david38 4y ago
If you’re just talking about income, it’s a worthless question. Actual wealth has a lot more involved than just income.
If you make $400k as a couple in Silicon Valley, live in a modest apartment in Burlingame, you can easily spend north if $5k/m in rent alone.
Let’s now suppose you have two or three kids with some expenses. Braces are $6500 each. You tore a rotator cuff, there’s another $4k. This happens, that happens.
I can go on and on, but at the end of the day, you don’t own a home, live in smaller housing than most people I know in the burbs, drive a 12 year old Subaru, are not putting away enough for college by a long shot, so you’ll have to take out lots of loans (even for in-state), etc.
The end result is this feels a lot more like middle class. Income tax alone eats 50% and you get relatively little for it if you don’t believe in buying F22s.
There is no big savings account, stock holdings, vacation home, tax shelter, etc. Just two people making decent money that are raising a couple of kids in the same way our parents did, except it costs a lot more here.
Without local cost of living, this discussion is meaningless.