HENRYs with kids say 6-figure salaries just aren't cutting it
HENRYs with kids say 6-figure salaries just aren't cutting it
"You're paying for your past while also trying to save for your future," Max Heninger, a HENRY parent with student debt, said.
high earners, not rich yet.
The couple in the article have a problem with spending priorities, not affordability.
They can whinge all they like, but society should focus on helping people with real problems.
We are going to be paying off our student loans for at least another decade," Heninger, who is facing just under $900 monthly payments between himself and his wife
Oh for fucks sake, if they have $100,000+ that's $8,333 per month, and they can't handle paying $900 per month?
Cry me a river will you?That's not how it works.
Not arguing with anything but your numbers. Gross pay is not net pay. My net is 60% of my gross with family health insurance taken out , and taxes (but mostly health insurance).
So that could be closer to 5k a month, let's say 6 to be generous. Rent here for anything that will fit a family is close to 3k. Another thousand on top for student loans, then electric bill, car insurance or transit $, more people means more food, I can see it might be tight.
Still not anything to really complain about money wise but legit IMO to complain about student loans in general. Education from K through university or trade school needs to be free for students, the economy would work better.
You forgot childcare. Tack on another 2-3K per month in expenses for that.
Also, with the price hikes and everything recently, The cost of living has gone up while their salaries haven't. What's happened is people who haven't had to budget before now are now needing to budget. Yeah, they still make enough that they can live quite comfortably it's not like they're going to starve, But they can't just buy that new car every year anymore.
Just because they make more income than you doesn't mean they don't also struggle. Their expenses are different from yours. Also these student loans are predatory. They have terms where you can pay for years and end up owing more than you originally took out
As of 4th quarter 2024, average cost of living for a single person in the US is $4,948/month. Take that $8,333/month, chop off 20% for taxes, and you're already getting uncomfortably close to that number. For a family of four, I really don't see how those numbers work at all.