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I think $200k is that new $100k
Very similar experience to KPMG1 on my end. HCOL city
Mentor
Depends on when you were kid. 100 K in 2000 would equate to around 190 K today. If you were born in mid 90s then it would be 250 k. So you are kinda right. That is exacerbated by housing becoming extremely unaffordable. If not for that, it would have been much better
US household median income (not individual ) is 83 K, so for vast majority ,100 K is still distant. It also depends on location. You may need 400 K to sustain a lifestyle in NYC as opposed to 200 K in Dallas
It’s because your not spending like you were in college anymore
250k doesn't get you a lakehouse, a new benz, and 4 vacations a year. Keep grinding.
You can no longer grind fast enough to outpace the printing machine like you used to.
Yale considers you in poverty with $200k
$250K is the new comfortable middle class if you're single and live in MCOL. If you have a stay-at-home wife, kids, and live in HCOL, you're pinching here and there.
Tell me you come from money without telling me you come from money lol
My two cents.... Once I reached my accomplishment goals as an engineer I started making financial goals. While I found that intensely entertaining it ultimately kept me from exploring opportunities that would have made me happier. Once I got over 200K I stopped making any financial goals and went to get my naturopathy certification :-)
One reason 200k feels like the new 100k is because people continue to spend beyond their means!
Our HHI is over 400k and we’re trying to have my partner quit working this year because the money is frankly unimportant vs the time tradeoffs.
It is when they enjoy working. Not a unilateral decision for me
It’s never enough
250k minimum