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Started By
Message
Definition of lower\middle\upper class??
Posted on 2/20/13 at 9:09 am
Posted on 2/20/13 at 9:09 am
What does the Money Talk board think the salary of someone in the lower, lower middle, upper middle, upper class, etc.. is? Obviously these #'s probably change where you live due to living costs, etc..
So let's say in a medium sized town? in Louisiana standards that is. (smaller than Baton Rouge or New Orleans, but bigger than St Francisville or something of that sort.
ETA: Married couple with 2 kids. Ready.... go!
So let's say in a medium sized town? in Louisiana standards that is. (smaller than Baton Rouge or New Orleans, but bigger than St Francisville or something of that sort.
ETA: Married couple with 2 kids. Ready.... go!
This post was edited on 2/20/13 at 10:58 am
8
Posted on 2/20/13 at 9:15 am to TigerMan327
Strictly my opinion based on where I live, I would say based on HOUSEHOLD INCOME:
Lower: Less than $20,000
Lower Middle: $20,001-$60,000
Upper Middle: $60,001-$100,000
Upper: More than $100,001
But salary and worth are two different things IMO.
Lower: Less than $20,000
Lower Middle: $20,001-$60,000
Upper Middle: $60,001-$100,000
Upper: More than $100,001
But salary and worth are two different things IMO.
Posted on 2/20/13 at 9:20 am to OnTheBrink
quote:
Strictly my opinion based on where I live, I would say based on HOUSEHOLD INCOME:
Lower: Less than $20,000
Lower Middle: $20,001-$60,000
Upper Middle: $60,001-$100,000
Upper: More than $100,001
In my area I'd say more like this..
Lower: Less than $75,000
Lower Middle: $75,001-$150,000
Upper Middle: $150,001-$225,000
Upper: More than $225,001
Posted on 2/20/13 at 9:23 am to OnTheBrink
Standard of living and sustenance based on...
Lower class: Government support
Middle class: Salary,wages, and compensation
Upper class: Income from assets, investments, etc
Just my random opinion
Lower class: Government support
Middle class: Salary,wages, and compensation
Upper class: Income from assets, investments, etc
Just my random opinion
Posted on 2/20/13 at 9:36 am to TigerMan327
quote:
So let's say in a medium sized town? in Louisiana standards that is. (smaller than Baton Rouge or New Orleans, but bigger than St Francisville or something of that sort
Size of family? or just a single individual?
Posted on 2/20/13 at 9:36 am to wiltznucs
quote:
In my area I'd say more like this..
quote:
Apollo Beach, FL
VS.
quote:
TN
Sounds about right....
This post was edited on 2/20/13 at 9:37 am
Posted on 2/20/13 at 9:42 am to TigerMan327
quote:
someone
Single or household? Average two adult, two kid household? These are important factors.
$100,000 for a single person might be approaching upper class. $100,000 for a four person household definitely is not in my opinion.
Posted on 2/20/13 at 10:00 am to elposter
I think it depends on the amount of folks in the house, and the area you live in.
My wife & I are in the lower end of the 75K-100K combined income range, and its just us (no kids).
I'd say that a family of 5 would be scratching a living out at that amount. But our little family of 2? We live like we wanna live, and don't really deny ourselves anything.
I own my own truck (having a new F-250 or a Baja/Eliminator boat isn't what rings my bell) and while she wants to have a nice car, we owe less than $1000 (outside of her car note; ~10K on that) on about a half dozen accounts that have about 30K total limit.
We aren't upper class, but we're far from lower class in terms of how we live, IMO.
My wife & I are in the lower end of the 75K-100K combined income range, and its just us (no kids).
I'd say that a family of 5 would be scratching a living out at that amount. But our little family of 2? We live like we wanna live, and don't really deny ourselves anything.
I own my own truck (having a new F-250 or a Baja/Eliminator boat isn't what rings my bell) and while she wants to have a nice car, we owe less than $1000 (outside of her car note; ~10K on that) on about a half dozen accounts that have about 30K total limit.
We aren't upper class, but we're far from lower class in terms of how we live, IMO.
This post was edited on 2/20/13 at 10:01 am
Posted on 2/20/13 at 10:04 am to elposter
I wouldn't consider 100k for a single person upper class. I would say over 250k to be considered truly upper class
Posted on 2/20/13 at 11:00 am to saderade
Married couple with 2 kids. Just edited for OP.
also on a sidenote. What would be a good salary to live "comfortably" with this family. obviously everyones idea of living comfortably is different but lets just say. Can pay bills without risk of living paycheck to paycheck with ~400k house and occasional nice things\vacations.
also on a sidenote. What would be a good salary to live "comfortably" with this family. obviously everyones idea of living comfortably is different but lets just say. Can pay bills without risk of living paycheck to paycheck with ~400k house and occasional nice things\vacations.
Posted on 2/20/13 at 11:20 am to TigerMan327
quote:
Married couple with 2 kids. Ready.... go!
Lower Class: < 80K
Middle: 80K - 175K
Upper: > 175K
Posted on 2/20/13 at 12:10 pm to GFunk
quote:
GFunk
you are nothing more than a pebble in a pond, you are pure white trash G man.
just kidding
Posted on 2/20/13 at 12:22 pm to TigerMan327
If you define class by earned income, you are probably not upper class.
This is borderline subjective....much like the "fair share" rhetoric. There's always someone more rich than you.
I'll say this: in almost all areas in this country, the family earning $250,000 annually has way more in common with a family earning $30,000 annually than they do with Warren Buffett, Bill Gates, or most US presidents.
This is borderline subjective....much like the "fair share" rhetoric. There's always someone more rich than you.
I'll say this: in almost all areas in this country, the family earning $250,000 annually has way more in common with a family earning $30,000 annually than they do with Warren Buffett, Bill Gates, or most US presidents.
This post was edited on 2/20/13 at 12:25 pm
Posted on 2/20/13 at 12:45 pm to TigerMan327
We make roughly 160K with 2 kids and I don't consider us upper class by a long shot. Live in a rural Louisiana town also. Probably upper for the town but not in the grand scheme.
Posted on 2/20/13 at 12:49 pm to BOSCEAUX
Median based income where I live is 90k so,
Lower 70k or less
Middle 71k-100k
Upper 101k and greater
Strictly using income, no other factors
Lower 70k or less
Middle 71k-100k
Upper 101k and greater
Strictly using income, no other factors
Posted on 2/20/13 at 12:51 pm to ItNeverRains
quote:
ItNeverRains
I would think it would be greater in Williamson County, no?
Posted on 2/20/13 at 12:53 pm to OnTheBrink
Nope, 90k, alot here live like they make more though seriously, spring hill/Thompson station/Fairview are williamson county as well
I say Franklin and Brentwood median would be 150ish
seriously, spring hill/Thompson station/Fairview are williamson county as well I say Franklin and Brentwood median would be 150ish
This post was edited on 2/20/13 at 12:57 pm
Posted on 2/20/13 at 12:58 pm to ItNeverRains
quote:
I say Franklin and Brentwood median would be 150ish
That's kind of what I was thinking...
quote:
spring hill/Thompson station/Fairview
Forgot about those...
Posted on 2/20/13 at 1:10 pm to ItNeverRains
I didn't think about how "local" you can get with this. It makes sense, seeing as how a city can have one with a median of well over $100K and another nearby with a median of under $30K.
When I look at the stats for my current suburban town and the small rural town I grew up in, the stats couldn't be much more different.
Zip code I live in
Compared to the zip I grew up in:
Pretty significant adjustment to the scale.
I'm pretty much rich by the standards of one, and poor by the standards of the other.
When I look at the stats for my current suburban town and the small rural town I grew up in, the stats couldn't be much more different.
Zip code I live in
quote:
x......x......national % rank
Median Income ($) 116,200 99
Cost Of Living Index 292.7 95
Median Mortgage To Income Ratio (%) 18.8 14
Owner Occupied Homes (%) 97.9 99
Median Rooms In Home 9.1 99
College Degree (%) 65.8 98
Professional (%) 57.4 96
Population 14,452 65
Average Household Size 3.1 92
Median Age 40.2 80
Male To Female Ratio (%) 91.6 46
Married (%) 76.3 99
Divorced (%) 2.9 0
White (%) 92.1 57
Black (%) 1.4 49
Asian (%) 4.2 89
Hispanic Ethnicity (%) 1.2 38
Compared to the zip I grew up in:
quote:
Median Income ($) 24,623 6
Cost Of Living Index 73.2 25
Median Mortgage To Income Ratio (%) 22.8 72
Owner Occupied Homes (%) 68.7 26
Median Rooms In Home 5.2 28
College Degree (%) 18.7 60
Professional (%) 27.8 50
Population 7,559 49
Average Household Size 2.7 68
Median Age 36.5 43
Male To Female Ratio (%) 78.6 3
Married (%) 46.3 8
Divorced (%) 8.6 37
White (%) 35.2 7
Black (%) 62.4 97
Asian (%) 0.2 38
Hispanic Ethnicity (%) 1.5 42
Pretty significant adjustment to the scale.
I'm pretty much rich by the standards of one, and poor by the standards of the other.
This post was edited on 2/20/13 at 1:21 pm
Posted on 2/20/13 at 1:23 pm to dewster
In Zip Code 37069 the average household income is 159,360 with an average net worth of 1,073,623.
This compares to an average household income of 159,360 / Zip Code 37069 for the county.
Zip Code 37069 INCOME OVERVIEW
Income details
Average Household Income 159,360
Average Household Size (people) 2.83
Average HH Net Worth 1,073,623
Per capita income 56,215
Median Disposable Income 88,513
In Zip Code 37069 the residents have a median value of 39,010 in stocks, 100,094 in mutual funds and 112,296 in retirement funds.
The median value of local resident's debt includes: mortgage debt 271,086, home equity 580,791, debt from lines of credit 9,452, and credit card debt of 5,192.
Zip Code 37069 INCOME OVERVIEW
Median Values
Savings Bonds 1,894
Stocks 39,010
Mutual Funds 100,094
Retirement Accounts 112,296
Vehicles Owned 24,596
Home Equity 580,791
Investment Property Equity 111,428
Mortgage Debt 271,086
Lines of Credit Debt 9,452
Credit Card Debt 5,192
Zip Code 37069 has 6,891 owner occupied dwellings with 489 renter occupied and 306 dwellings.
LINK
This compares to an average household income of 159,360 / Zip Code 37069 for the county.
Zip Code 37069 INCOME OVERVIEW
Income details
Average Household Income 159,360
Average Household Size (people) 2.83
Average HH Net Worth 1,073,623
Per capita income 56,215
Median Disposable Income 88,513
In Zip Code 37069 the residents have a median value of 39,010 in stocks, 100,094 in mutual funds and 112,296 in retirement funds.
The median value of local resident's debt includes: mortgage debt 271,086, home equity 580,791, debt from lines of credit 9,452, and credit card debt of 5,192.
Zip Code 37069 INCOME OVERVIEW
Median Values
Savings Bonds 1,894
Stocks 39,010
Mutual Funds 100,094
Retirement Accounts 112,296
Vehicles Owned 24,596
Home Equity 580,791
Investment Property Equity 111,428
Mortgage Debt 271,086
Lines of Credit Debt 9,452
Credit Card Debt 5,192
Zip Code 37069 has 6,891 owner occupied dwellings with 489 renter occupied and 306 dwellings.
LINK
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