Here’s the math problem with this belief. Thread cuz this’ll take a min. Ok assume 2 kids & median US wage ($49k). Assume 2 incomes, $88k after tax & if you have kids for credits. FICA takes $6.7k. $81.3k left. Avg mortg is $1,029. $69k left. 2cars, let’s assume modest payments https://twitter.com/lisamloeffler/status/1293571690761396228

of $300/mo. 61.8k left. Avg student loan is $400/mo. $51.3k left. Health ins for family $6k. $45.3k left. Oh & 10% to each 401k. $36.6k left. Avg food bill for 4 ppl is $700-1200/mo but let’s assume frugality and say $500. $30.5k left. Utilities $2.1k/yr. $38.5k left. Yearly gas

$3k/yr. 25.5k left. Avg car ins $900/car w/ 2 cars. $23.7k left. 4 ppl’s haircuts every 6 wks $450 (assuming Supercuts) $23.3k left. Til the kids are 10ish you’ll want childcare. $800/month/kid ($1k for infants but we’ll fudge) $4k left.

So IF you make median wage (& 44% of workers make >$30k) you have $4k/yr left to cover personal care, car/house repairs, medical expensss, potential support for aging parents, extracurricular activity expenses (which are often $$$), etc. $4k for all that. Riiiight. And before you

say anything about student loans not lasting a full childhood, average payoff time is 19.5 yrs. And no, since margins are tight you CAN’T make a lot of extra payments. Prob before the kids are 18 they’ll be done but given parent ages vary wildly I’m not gonna even try to estimate

And OK let’s assume they keep the cars as long as possible & only have to replace each one once in 18 years. So that frees up SOME money, but again this is assuming a $1,029 mortgage and $200-500 under the average food bill (so up to $6,000 in savings). If you can’t stay that

cheap in your area, that money from the paid off cars and (eventually) student loans is gonna disappear mighty quickly. Meanwhile, even assuming those paid-off cars mean you actually have an $11k buffer (again IF you can get a mortgage that low and IF you keep food costs down and

most integrally IF you make the median wage), then... oh, but wait! Housing prices in 18 years will be almost certainly be FAR higher. So that $51k (so “just $125/mo” as she said) she’s shooting for ain’t gonna work. Avg inflation over 55 yrs has been 4.18% so prices will approx

double in 18 urs. So you’ll need $250 per kid/mo. to get an equivalent down payment to $51k today. Also, only 15 yrs from now a 4-yr state school is projected to be $180k. So $300/kid/mo. Bringing those savings to $13.2k a year. From a $11k/yr buffer that, again, has to also

cover medical expenses, entertainment, home/car repairs etc. AND that’s if you’re comfortable just 10% for retirement. And — yep I’m gonna say this again — THIS IS THE MEDIAN WAGE so 50% of ppl make LESS than this. 44% make less than $30k. But this lady also said those folks

should just work 2-3 jobs so I guess that’ll fix it. (And yes this thread is finally done. How are you even still reading?!)