Quote:
Originally Posted by Unregistered
Your estimate of another poster's position via a vis others in their cohort is quite far off....
At 50/52, with a HH I come of 180k, at best is only 70th percentile. Infact, if we use income as a yard stick solely, the earlier poster is leaving "beyond their means". Condo dwellers have an average yearly income of roughly 250k or so....
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I don't think he is living beyond his means as he is already saving $50k pa, not much compared to those saving much more but decent enough. In his case, his right timing in buying a condo when prices were low enabled him to own his condo outright since his loan was not much. Is he worse off than a HH with income of $250k pa but laden with $1m mortgages and $200k car loans? I don't think so. He is debt free and this is what matters most.