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Also seesix things even the upper middle class cant afford in 2025.
Housing
Let me tell you about housing first, Lokenauth said.
And hes not talking about anything fancy just a regular home built in the 70s that needs updating.
Even earning $300,000 per year wont get you there anymore.
Its wild, he said.
Hes not wrong.CNBCreported that from early 2020 to mid-2024, home prices went up 47%.
And the median sale price was five times the median household income.
Pricey Cars
Cars have gotten completely out of hand too, according to Lokenauth.
He recently tried helping a client (making $180,000) find a new luxury SUV.
The Mercedes GLS they wanted?
It started at $85,000 but ended up being $115,000 with basic options.
And dont even get me started on the waiting lists six to eight months minimum.
The car markets turned into this crazy exclusive club, he said.
Private School Tuition
Private school tuition is another big one thats shocking Lokenauths clients.
He recalled when $20,000 a year was considered expensive.
Now he said the top schools in major cities are pushing $60,000 per kid per year.
After taxes, he exclaimed thats basically impossible unless youre clearing $400,000.
Vacation Homes
Another big thing is thatthe vacation home markethas completely transformed.
Specialized Medical Care
Another costly area is specialized medical care the kind not covered by insurance.
Lokenauth has clients paying $15,000-plus annually just for direct primary care services.
Add in some specialized treatments, and it gets scary fast, he said.
A Sub-Zero fridge plus Wolf range combo?
He said thatll run you $35,000-plus now.
Its gotten absurd, he said.
Travel
Travels changed dramatically too, according to Lokenauth.
First class is pushing $20,000 on popular routes.
And good luck finding availability without booking six months out.
Premium Youth Sports Programs
Lastly, heres one Lokenauth said that surprised him premium youth sports programs.
Between specialized coaching, travel teams and equipment, Lokenauth said parents are dropping $50,000-plus annually per kid.
That used to be the cost for an entire childhood of sports, he explained.
He said the craziest part is watching this affect people whod be considered wealthy by most standards.
The goal posts keep moving further out, Lokenauth said.
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