I didn't say that's what I want my income level to be.
Personally, I'd like to be an NFL head coach making millions of dollars of year, but if I pocketed $50K a year in Tennessee, it wouldn't bother me a bit.
Trust me that 50K a year doesn't go far when trying to put a kid in college and raise a two and a half year old. My wife and I combined pull quite a bit more than 50K, there are months that we have to watch our pennies, especially this year.
I should have prefaced my first statement with, "if you're single". I can def. see how 50K gets stretched out with a kid going through college, and a 2 year old.
My uncle makes somewhere in the neighborhood of 100K a year, and he had to put his kids through 2 dif. colleges(Georgia Tech and Carson-Newman). Stretched him out as well.
Hopefully he wasn't relying on his annual income to pay for education. If so, that's a failure in financial planning.
He is my stepson, his father was and is a no good piece of crap, he took off and left my wife struggling to pay for a child on her own. She made due with very little and kept a house over his head and food in his stomach. College fund wasn't in the vocabulary. He has been like my son for three years now and we are going to do what it takes to give him the shot at the kind of life my wife and I never knew (admittedly because of our own mistakes). My daughter will have the benefit of two loving parents who plan for her future. By the time she is of college age her tuition should be covered completely. If she does not go to college this fund will be made available to her at the age of 30 (I refuse to give a 18 to 20 year old this kind of change to blow on a boyfriend or stupidity if she doesn't attend college).
if you set up a 529 plan you never have to give it to her (you could keep it open for grandchildren). most other accounts the money is hers at age 18. personally if my kid didn't want to go to college i wouldn't give em a dime, but call me an arsehole.
Why are large businesses considered right wing? Several of the CEOs of large financial (e.g. Fortune 500) firms are Democrats. Ditto for other fields. Is Gannet News Service right wing?
I just don't get this.