Jacob Hugart makes more than the typical American: His $100,000 salary is nearly double the median annual income in the United States.
"My understanding based upon incomes is I'm technically in the upper-middle class," he told NPR's Lulu Garcia-Navarro during a segment on living on $100,000 a year, "but it sure doesn't feel like it."
He and his family live in St. Paul, Minnesota, and while his income is "sufficient for our day-to-day living," Hugart says, they still struggle with expenses that come up: "We had to repair our roof a couple of years ago, and we ended up cashing out an IRA in order to pay for that because the other alternative was to put it on a credit card."
The oldest of their three kids is going to college soon. Though "we do have some funds that we have saved up for him, given the cost of college, it's certainly not going to be enough," Hugart says.