The way I see it is that the median lifestyle spending is based on a 180k income. (Median - many spend way more).
There's no way that 180k is the median salary. CMIIW?
Just readind this for the first time. I live in Lakewood and am 25 years old, married 3 years already. I started working for $800 two and half years ago, finished an online masters (BA from Yeshiva) in the meantime and now get paid $120K annual, same company (I commute to the City). My wide started at $500 a week, and now makes $1000 and is due for a raise, she only works because we have just one baby. My company pays for top health insurance, commute, phone, and 5% 401K. I drive an Accord, bought a house in a development and live in basement because I don't need the space. I'm saving a solid $50k a year in a non volatile investment account and made 11% in the bull run this year (long may it last!). At this rate I'll be making more than enough to afford anything in the VOL, yet I feel its a huge waste of money. Maybe that's become I'm out of towner.
The way I see it is that some guys go into Real Estate etc. and make "fast money" and spend it all, and if they can keep it up very good, but as these things are very volatile there are bound to be hard times, and there's no safety net and they just cant stop spending nebach...