Earlier quoted context omitted.
>The difference between $80k or $200k salary makes almost no difference in quality of life. I don’t see how this is true for any urban area, where $80k will not let you save any significant amount whereas $200k will provide you a decent cushion in case your incoming cash flow experiences turbulence. The peace of mind resulting from this certainly improves quality of life, especially if you have mouths to feed. Also,…
Hello from Montreal, where everything you said is true for either dollar amount, even in Canadian dollars. And indeed, tech salaries in that range are plenty available here. The low end of tech salaries is below $80k, but the threshold where things start getting tight is also below $80k, so no problem. (Of course $200k will allow faster growth of savings and investment or a more luxurious lifestyle, but even $80k can…
For me, comfortable middle class living does not just include the food/shelter you need, but also protection from volatility such as changes in labor market, your family members’ health, and ability to take leave from work. As the US doesn’t provide any of this, you have to pay for it, in the form of savings and investments for yourself.
The other component of it is that in my lifetime, the income/wealth gap has grown and grown. Opportunities for your children decrease if you don’t stay ahead of the curve, so this is also another risk to protect against by earning enough to be able to live in the better school districts and provide your kids with a better shot of income stability for their future.