So, my support has shifted (a little too late probably) to John Edwards since he is the only one talking about the issues of the middle class all of which apply to us. I just received our mortgage tax statement and realized that we paid $7000 in interest and only $1000 in principal and it has gotten me thinking that with our modest incomes (me a teacher, the handyman a state employee) we won’t have our mortgage or student loans paid off until we are in a nursing home at this rate. When we refinanced a few years ago to take advantage of the declining interest rates, I lobbied hard for a 15 year mortgage instead of a 30 but everyone at the handyman’s work and my dad all argued against it. I think I was right.
I can’t help be envious of friends whose husbands make 6 figure incomes (like my prenatal yoga pal who is in grad school but is married to a computer systems analyst so lives in a house nicer than most of her tenured university committee members) but I remember the days when the handyman was slugging it out in the ‘real world’ and although he did make significant more income (the more he worked, the more money he made) he was pretty unhappy and he seemingly worked all the time. Now, he has almost the same schedule I had as a public teacher, great benefits and the nicest boss on the planet. He has been to every well baby appointment and his lack of work stress (he is mellow by nature) transfers into a really involved co-parenting situation for us which honestly I really need right now as this mothering thing is kicking my ass so to speak. Besides, maybe he wishes I would have done something a little more profitable than being a public school teacher! And, the other day he said to me “Why do you worry so much our lives are good. We’re healthy, the bean is healthy and we both have jobs that don’t totally suck.” All of which are good points. So, I am going to try and remember to be happy with what I’ve got and try and worry less about things that will sort themselves out in the end.
4 Comments
January 28, 2008 at 12:45 pm
Except, what IS middle class?
http://www.pbs.org/now/politics/middleclassoverview.html
G is making better money now than when we were both working two years ago, but we still struggle with bills, student loan payments, medical costs and just general well being. We “own” our home (or at least the closest bank-hand-on-our-shoulder approximation), our cars, but have relatively small amount of savings and considerable debt.
I think politicians throw around the term “middle class” because most people relate to it, regardless of their income.
At this late in the game, I won’t support Edwards simply because I believe he will not be a contender.
And to sum it all up: I have never been happier in my life. =;?} Attitude adjustment.
January 28, 2008 at 2:05 pm
I guess I compare it to my parents who lived off of one federal employee income (great retirement) until my mom went back to work when I started middle school…and they paid off their house in 15 years at a ridiculously low interest rate and had no student loans.
To me ‘middle class’ is inclusive of anyone not completely on the public dole (i.e. the old term ‘working class’ is pretty much outdated).
It doesn’t matter who I support as no one is looking for a win in the TN primary
I still hope HC wins anyway.
January 28, 2008 at 3:56 pm
We paid the same interest and principal as you did- and we were able to write NONE of it off on our taxes. WTF? John and I were dumbfounded. We bought a house so we could stop throwing money at our landlord, being told that our interest was tax-deductible and therefore a good investment. Now we are just throwing money at the effing bankers.
January 28, 2008 at 5:18 pm
When we moved form London to Wales I took a 66% cut in salary. Ouch.
But, everything else is all on the upside – like your Handyman, I’m less stressed, I have a good boss, and a decent wage for the area. It’s cheaper to live and I’m not driving 100 miles round trip just to work!!
Another way it’s been good – I now make less than Mr Piereth. Before, I was earning at least twice his wage, more with bonuses. This didn’t appear to be good for us as a couple! He’s a comfortable $10,000 ahead of me now. I think he likes it.
Like you guys, savings aren’t something we’ve thought of – but now my path is clear. I can either save 10% of my salary from now on……. or have another child. So, not clear at all then!!