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Wouldn't this also depend on how many kids you're currently supporting (tuition) and what activities they participate in? It's basically a 2nd mortgage up in here.
Good thing we have no car payments and spend very little on groceries and utilities.
My thoughts exactly. We could be driving a Lexus and taking regular trips to Europe, but we chose a large family instead- to have kids biologically and to also adopt several of our children through a special needs program as well. Because this eats up some of what would be disposable income, does this make us and our lifestyle lower class?
And the theory that 200 k earners are all living in places like Garden City driving luxury autos is a broad generalization. Maybe some live this way, but not all. Some people choose other things like a large family or donating/helping others over material goods.
And the theory that 200 k earners are all living in places like Garden City driving luxury autos is a broad generalization. Maybe some live this way, but not all. Some people choose other things like a large family or donating/helping others over material goods.
You might be able to live in GC on 200K salary if daddy bought your house and mom watches your kids.
Otherwise you're going to be eating Ramen noodles every night.
We have 5 kids (3 of whom we have paid off adoptions for and 4 of whom have special and sometimes expensive medical needs requiring frequent hospital stays, specialists, etc), 2 dogs, a cat, a hamster and goldfish. I would not trade one of our kids for all the Beemers in the world. So when you say you have 3 kids a dog, etc, there is really no such thing as a blanket "etc" as no two family situations are created equal. We chose this life over the luxury lifestyle, and I don't think it makes us lower class that we made different choices with our money vs someone else.
due to our delightful upper middle class discussion, I realize it's not about income it's about what's outgoing. That said, what percent of your $ is left over every month.
Take out:
mortgage
car
life/car insurance
student loans
529
retirement
utilities
groceries
lunches/dinners
I have about 32% left over for whatever
Really, you don't have to factor in....
Cellphones, Cable ,clothing, vacations, entertainment( movies, ball games, bowling,etc) fuel( if you take the LIRR,subway, if you don't parking)
Kids ( school supplies, video games,clothing,books, savings for college tuition ) Those pesky unexpected expenditures(repairs,upgrades,etc)
Have any vices? smoke,drink,gamble...Nothing to charity(you cheapskate) J/K
For most it's just nice to have some extra scratch left over at the end of every month. Enjoy, your a lucky guy!
This NCPD officer lives in Garden City. I know a couple of people living in GC on around $200k. They're definitely not eating raman noodles.
I wonder if its the same NCPD officer that I know who is married to one of my contacts on Facebook (she is an attorney working at a Garden City ins defense law firm). Per SeeThroughNY.net, he earned $93K in 2011 (he is in his early 30s). They bought a house in Garden City last year and just had a baby. They somehow made it work.
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