Yeah man, after private tuition for your pre-K kid, your $500 for entertainment, your savings for retirement and your annual $7,800 vacation, I mean, what's left? $350,000 is barely enough to scrape by!
The true hardship will be if they take any capital gains from their investment and it pushes their income over $400k. There goes that child tax credit! Truly, they might have to consider food stamps.