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Stonehedge
Fox
@amey
I agree with @Velocio here that salary ≠ wealth
If you are an old money white guy, you can slum it on living wage with a safety net there if you need it. I am in similar boat as Velocio but first gen immigrant and still pay subscription to this island via the home office.
As @Stonehedge pointed out thats mad increase in fees even if I was going to send my actual kid to hypothetical private school. Same for early years childcare, the increase is not inline with inflation (or inflation plus 5% or whatever it needs to be for economy to balance).
I have a shitty car thats cheaper than any of my bikes and mortgage thats 37% of my salary (and have a partner on a similar salary). Other than bikes I dont spend money on anything else. I have office grade laminate and IKEA furniture in the house, most 2nd hand. Use 2nd hand clothing for everyone in family.
So I'd say I am accumulating wealth and certainly feel rich but the moment I make (unnecessary) lifestyle choices like iPhone 13, Range Rover and Private school for kid, I'd be fucked.
So I think this whole 'squeezed middle' thing is a matter of choice.