Financial Aid for Upper-Middle Class

cptofthehouse
Fri, 16 Nov 2012 17:09:50 +0000

Our take home pay is less than 40% of gross, due to what we have taken out. To put things into perspective, we have to take into account the payroll deductions that are not tax and understand that the other items are things that we would ordinarily be seeing in a paycheck and physically depositing or paying elsewhere, such as 401K contributions, health care premiums, HSA, life insurance, dental insurance, etc. That they are “goodies” that most people are not lucky enough to have. and because we do have them, we take them for granted. A side effect of having them taken right out of the paycheck, I’m afraid.

But it is also sobering when one is supposed to be making so much money, and yes, it is a lot of money, that by the time one pays for the things that it is respoonsible to do do such as retirement savings, health care, and the required taxes, the small percentage that is left. Throw in a house commensurate to ones earnings (which in many cases, is not so impressive in certain high housing cost markets) and the costs to maintain it and what is left is not what one would expect at that level.

But then consider what those who have to cope with issues not covered by plans for which you are paying, and have far less left, and you gain the perspective.