4 people who earn six figures and still feel broke

[Albert]

I'm sure plenty of people live comfortably in NYC on much less than 200k. There are also some advantages in living there, no need for a car for example.

[Angelfishtitan]

But...I lived in CT after I got my first job and my wife and I were definitly struggling at a combined $100,000 salary.    The cost of living in this area is redicuously high and we had about $80,000 of combined student debt, and this was in New Haven and Hartford.    I don't know how anyone lives in NYC with a family income under $200,000.

Hahahaha....wait are you serious?

You can easily live on a third of that in CT without even being a really hardcore mustachian, just got to be smart.

[2lazy2retire]

It does kind of blow me away how these articles are always written so that we're supposed to feel sorry for the people profiled...

"Having lots of money is stressful and comes with a certain lifestyle WAAH WAAAAAH!"

STFU already

I am convinced that these articles are written in the knowledge that it will piss off a lot of people and generate a lot of hits and comments ( almost 6k in this case). Lets face it an article about a family of 4 struggling to get by on 40k is not going to arouse any sentiment ( ie traffic )
Whats does amaze me is that if I were one of the case studies here I would not want to advertise the fact that I am a complete moron.

[MsSindy]

........
Whats does amaze me is that if I were one of the case studies here I would not want to advertise the fact that I am a complete moron.

I know, right??  Do you think they got paid?  Or did they just want their 15 minutes of fame?

[LDoon]

I know, right??  Do you think they got paid?  Or did they just want their 15 minutes of fame?

I assume they get paid or perhaps receive a years worth of financial planning.

[DukeGanote]

Why do we feel the need to go into debt (or defer retirement savings) for a wedding?

So we can be debt slaves like guy: "Zar Muhammad’s troubles began 30 years ago when he took a loan from a kiln owner to marry. (The elaborate marriage and funeral ceremonies expected by Afghans frequently cost several years’ worth of wages, forcing many people to take out loans that they must work off.)"
http://www.nytimes.com/2011/03/16/world/asia/16kiln.html?pagewanted=all

Of course, over there "his children would inherit his debt."

[DukeGanote]

Apparently it's not impossible on less than $200K. Not saying that I'm willing to try though.

"Sylvia Flores...declared bankruptcy in 2005 and subsequently managed to run up $300,000 in debt despite earning more than $200,000 a year. Over the past three years, Ms. Flores has sharply lowered her spending and paid down most of her debt."
http://blogs.wsj.com/totalreturn/2014/09/08/six-figure-incomes-and-going-broke-readers-offer-advice/?google_editors_picks=true

[Davids]

We currently gross $100,000 per year. Used to gross about $150,000/year before DH early retired at age 44.

Here's how most of our income is applied towards our net worth:

$18,000 towards the principal on our almost-paid-off-home
$17,400 into 403b
$11,000 Roth IRA contributions
$  4,800 pension contribution
$  8,000 into 529 and custodial DRiPs

Additional health insurance and flex spending contributions put our AGI into the 15% tax bracket. The amount left over after taxes is plenty for a family of five in the midwest. A family that refuses to compete with the debt-ridden Joneses, drives 10 year old cars, bikes around town, cooks at home and shops at thrift stores. I live 8 miles from work. Our investment portfolio is set up to pay quarterly dividends, and sometimes we take capital gains when it keeps us under the 15% tax bracket. And there is still room for improvement - lots and lots of ways I could be doing more.

For now, looking forward to paying my mortgage off by the end of next year. That'll be $18K/year I can put towards the kids' college...

That is excellent fartface. This is a great example that unfortunately if you try to sell to many Americans they will look at you like you are crazy.

[zataks]

I am convinced that these articles are written in the knowledge that it will piss off a lot of people and generate a lot of hits and comments ( almost 6k in this case). Lets face it an article about a family of 4 struggling to get by on 40k is not going to arouse any sentiment ( ie traffic )
Whats does amaze me is that if I were one of the case studies here I would not want to advertise the fact that I am a complete moron.

I think you're absolutely right.  It's hard to inspire people (read: get them to tell others about the article for positive reasons) if it's about a family identical to their own making it without trouble because they choose to live within their means.

But what people need to hear about are the folks struggling, just barely, and totally making it on 40k/year.  Was talking to my grandmother a couple weeks ago and she was saying how it's so sad that "there are so many middle-class Americans that can't afford to live."
I responded that, "well, yea, if all the kids have their own bedrooms, the family has two cars, and flat screen TVs, it's hard to get by on average salaries." 
Gma, "But, zataks, they can't even afford food!"
Me "that may be, but I think a lot is lifestyle choice."

Please note, we were talking about the media's described "middle class" not legitimately poor folks. 

Full disclosure: Am now half of a DINK household well into 6figs.  Making ends me?  Totally.  Living pretty fucking luxuriously?  Definitely.  Living mustachian and saving my balls off?  Not yet but getting there.