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Posted on 10/10/17 at 7:09 am to stewie
quote:so many occupations going from pensions to 401k definitely hasn't helped the middle class. Not having to save as much for retirement makes life a lot easier.
Retirement is key here
Posted on 10/10/17 at 7:23 am to GreatLakesTiger24
Are these figures adjusted for location? Making $60k in Baton Rouge isn't the same as it is in NYC.
Posted on 10/10/17 at 7:27 am to GreatLakesTiger24
I may not possibly hit median income for 2017 fwiw
I'm no baller by any means. But being single with no kids and no debt makes it much easier.
I'm no baller by any means. But being single with no kids and no debt makes it much easier.
Posted on 10/10/17 at 7:34 am to SilverStallion
Have you tried living without internet or a cell phone these days? If you don't have access to these Jing's it makes employment over $50,000 a year very difficult
Posted on 10/10/17 at 7:35 am to GreatLakesTiger24
Don't have time for a long reply, but in short yes. The concentration of wealth is still more distributed than it ever has.
Posted on 10/10/17 at 7:36 am to GreatLakesTiger24
Well if dumb people who make less than the median stop having kids, maybe they can actually improve themselves.
I make damn near 25k more than the household median ALONE and I am underpaid for my industry!
The money is out there. Either people are not willing to go after it, or not smart enough to obtain it.
Quickest way to income elevation:
1) Stay single
2) Don't have kids
3) Graduate from High School / College
distant 4th) Once your income is obtained search for a partner with similar income and ambition.
Boom now you have an 150-200k household and as long as you are not fricking retarded with your money, you will retire @ 60 and live off of gains.
/------------------------------------------/
tl;dr
stupid people only know how to bang and go into debt.
I make damn near 25k more than the household median ALONE and I am underpaid for my industry!
The money is out there. Either people are not willing to go after it, or not smart enough to obtain it.
Quickest way to income elevation:
1) Stay single
2) Don't have kids
3) Graduate from High School / College
distant 4th) Once your income is obtained search for a partner with similar income and ambition.
Boom now you have an 150-200k household and as long as you are not fricking retarded with your money, you will retire @ 60 and live off of gains.
/------------------------------------------/
tl;dr
stupid people only know how to bang and go into debt.
Posted on 10/10/17 at 7:38 am to yellowfin
I always enjoy the "you need 200k to live middle class in BR" posts. I mean, if that's someone's threshold you know damn well their wife is spending just about every dollar they make.
Posted on 10/10/17 at 7:41 am to 50_Tiger
quote:
The money is out there. Either people are not willing to go after it, or not smart enough to obtain it.
These points are both true. Some are lazy. Some are less intelligent. But our society also needs a pretty large percentage of the population to be janitors and cashiers and random $35k admin professionals. We can’t just dismiss it as “everyone could make more if they tried.”
Also, your plan leaves the poor people having most of the kids. And we have seen how well that’s working out.
This post was edited on 10/10/17 at 7:43 am
Posted on 10/10/17 at 7:41 am to NIH
quote:you call this living?
to live middle class in BR
Posted on 10/10/17 at 7:46 am to Rize
quote:
I couldn't imagine having a household income of $60,000 in 2017. Now single in my 20's or early 30's I could see that but wife and kids would be difficult.
I can't either.
My wife and I make a combined $80k/year and have one kid in preschool. We insist on living in a safe area with the potential for our son to get a good education.
Our budget is pretty tight each month, and we're debt free. We certainly aren't taking any substantial vacations during the year.
This post was edited on 10/10/17 at 7:46 am
Posted on 10/10/17 at 7:49 am to StringedInstruments
I love reading these threads. It makes me feel like I'm truly an OT Baller.
Posted on 10/10/17 at 7:50 am to GreatLakesTiger24
I think what people on the low and high ends of the "middle class" spectrum don't realize is that their quality of life is quite similar.
People making $50,000 don't realize that people making $300,000 really don't live that much different. They probably have a bigger house and more expensive vehicles, but their actual lifestyle is not much different. Same goes for the upper end. Instead of a Yukon Denali, the middle class may drive a 4runner. Instead of a new Contender (which even most people making 300k can't afford) the middle class family buys a used runabout.
I think the stereotypical middle class lifestyle applies to a much broader segment of the population than simple income figures indicate. However, that notion is no good when it comes to class warfare.
I can assure you that being in that 90-95th percentile does not afford someone a "wealthy" lifestyle. It just means their retirement account looks better and their house has an extra bedroom.
People making $50,000 don't realize that people making $300,000 really don't live that much different. They probably have a bigger house and more expensive vehicles, but their actual lifestyle is not much different. Same goes for the upper end. Instead of a Yukon Denali, the middle class may drive a 4runner. Instead of a new Contender (which even most people making 300k can't afford) the middle class family buys a used runabout.
I think the stereotypical middle class lifestyle applies to a much broader segment of the population than simple income figures indicate. However, that notion is no good when it comes to class warfare.
I can assure you that being in that 90-95th percentile does not afford someone a "wealthy" lifestyle. It just means their retirement account looks better and their house has an extra bedroom.
Posted on 10/10/17 at 7:54 am to Evil Little Thing
quote:
Also, your plan leaves the poor people having most of the kids. And we have seen how well that’s working out.
ELT, poor people will always have kids no matter the economic health.
The squeeze on the middle class is causing folks who are responsible to reflect on the opportunity cost of having children in today's economic climate and are choosing not to.
You need individuals like me (Engineers, Doctors, Nurses, Lawyers, Scientists, etc.) to produce children. High level thinkers and movers. This population has the higher probability of producing progeny that either meet or exceed the bar their parents set.
That's why im in favor of a flat tax with no deductions.
EVERYONE pays. frick this 40% pay zero or negative returns.
Posted on 10/10/17 at 7:55 am to GEAUXT
quote:
I can assure you that being in that 90-95th percentile does not afford someone a "wealthy" lifestyle. It just means their retirement account looks better and their house has an extra bedroom.
Why should the lower and true middle class pay for retirement? They know the government will pay for their retirement and healthcare. At the same time, the couple that did everything right, saved every nickel and planned accordingly gets fricks at the end of the day. Healthcare and long term nursing homes will deplete anything they saved. It's a fricking shame. I've watched it happen too many times.
Posted on 10/10/17 at 8:06 am to GreatLakesTiger24
The standard deviation across the geography of the US is pretty wide. $59,000/yr on the east coast is not $59,000 in Baton Rouge.
This post was edited on 10/10/17 at 9:22 am
Posted on 10/10/17 at 8:06 am to yellowfin
quote:
Two biggest flaws in your post is middle class doesn't go to private schools and they don't need anywhere close to 2 million to retire.....probably not even one
It still cost roughly $2.5k a year per kid in public school if they do ANY extracurricular activity.
And yes, savings can vary but $500k retirement isn't much for a couple trying to retire at 65.
Posted on 10/10/17 at 8:07 am to yellowfin
quote:
I was thinking a plant baw and a stay at home mom
No way, plant baws make 100k+ a year. I read it on here
Posted on 10/10/17 at 8:07 am to GreatLakesTiger24
$60k as a household?
Christ, I’d have a heart attack from the stress.
Christ, I’d have a heart attack from the stress.
Posted on 10/10/17 at 8:09 am to BigPerm30
You're absolutely right. Government subsidizing is the main thing that allows those two groups of people to live such similar lifestyles.
When you factor in higher taxes and retirement savings, the actual monthly living budgets are not astronomically different.
Now obviously if both groups are living paycheck to paycheck then yes, the 300k will have a different lifestyle.
When you factor in higher taxes and retirement savings, the actual monthly living budgets are not astronomically different.
Now obviously if both groups are living paycheck to paycheck then yes, the 300k will have a different lifestyle.
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