Everything is a choice in life :-). My commute is 1.5-2 hrs each way into the city. But remember, if you are UMC, you will try not to have a 3-4hr commute per day.
3 Likes
I don’t want to stray too far away from the topic (i.e. what happens if a kid picks a profession that won’t make much money), so I won’t say all that I want to say. But that top 4%/5% income was mentioned as being about the threshold for a family not to qualify for financial aid at the most generous private institutions. So how does an income in the top 5% equate to upper middle class? Where does upper class start if the 95th percentile is still considered part of upper middle class?
These might be your expectations, but I would strongly suggest that these expectations are those of upper class individuals. A 1500sf apartment in Manhattan is a luxury, even for a family of 4. Private school tuition, especially at $60k/student, is also a luxury.
5 Likes
Most young people don’t think about taxes. Have you considered local sales taxes?
1 Like
We are talking about UMC people. You can’t designate someone as UMC, and then dictate how they should live to fit into 150k or something.
1 Like
I get you need (or want) 20% down to buy a house - but $370K is loads of money - even in Manhattan 
If you make it at 22 and have no savings, is of course different if you make it at 40 and have $4 million net worth.
I don’t know if it’s loads in TN or not - I’ve never made $370K. But I’d love to find out !!
4 Likes
How did $500k/year income get defined as upper middle class? I certainly didn’t. And a $150k/year household income falls at the 81st percentile…which would be the top quintile…which many not active on this forum might consider upper class.
2 Likes
It’s really not a lot of money in manhattan. Trust me :-).
Picking up a sandwich for lunch costs $20 these days. Effortlessly.
1 Like
And i’d gladly pay it if i made $370K. I pay it now - and i don’t make that much.
But I do understand your point…
Based on what people elsewhere in the country want to consume when they think of themselves as upper middle class, if you consider their basket, that basket will cost you some serious money in Manhattan.
1 Like
I promise you, you can have a 30-40 minute commute to NYC and pay a lot less, you don’t need to commute for hours. (Chicken platter at the Halal guys truck is $11.00, Dollar Slice pizza is still charging only a dollar.) I only know this because my kid is visiting from two years in Japan and he specifically went into the city to get the above food items!
7 Likes
I live in the area. I know what the options are
The point is that if somewhat wants to live in Manhattan, and think of themselves as upper middle class, then it entails some expenditure. I am not talking about people who are willing to live in Jersey city, or people living in Westchester county, or in long island city, or even Brooklyn, or where ever else. Those are different comparisons.
I think I may have a unique identical twin study perspective. I have a good friend I will call A who is an identical twin to B. A & B went to college together and got BS degrees and became national park rangers. B stayed in it and retired at 56 and is doing well in his 60’s. A decided to change careers (did not like his assignment locations) and got an RN degree and worked as an RN until retirement at 65. A while he was good at nursing, regretted not staying in the national park service. They both are very earthy and continue to be rock climbers!
6 Likes
I mean, it’s one banana, Michael. What could it cost? 10 dollars?
I’ve considered my household upper middle class since spouse finished grad school (we were just above the poverty line until we received an unexpected inheritance at age 28 and already had 1 kid). According to the metrics quoted in this thread, we are within that range (but decently far from the upper class or “rich” range). We will qualify for financial aid for S23 everywhere but our (very cheap) in-state school. I suspect a lot of people in the upper class range consider themselves upper middles and are surprised that they’re classed as solidly “upper”.
2 Likes
Pack your own lunch. $3 max. Save $17 x 20 days a month and invest that. You will be the next Warren B soon. 
12 Likes
Thanks for the advice. A better solution is to not go into the city. City leaders are putting pressure on businesses to force employees to come in. It’s a rigged game. Nobody said it is fair
$3 max, for lunch? What are we having, lettuce, tomato, pickle and a slice of Dave’s Killer bread? PB&J everyday?
(all tongue-in-cheek, but there’s no way I, moi, could eat lunch for $3/day and survive 
)
3 Likes
Apple, a cup of yogurt, and green salad with leftover Costco dinner chicken (their loss leader). 
you are right, due to the inflation, make it $4 lunch.
8 Likes
OK, well, now you’re introducing a new element, leftovers from last’s night dinner, which currently is uncapped in this thread. 
3 Likes
Lol, another hilarious example of thread drift on CC…from worries about kid’s career choice to leftover rotisserie chicken!
4 Likes
You should see us argue the nutritional value of that next!
3 Likes