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re: What do you consider as Middle Class in America today?
Posted on 1/14/16 at 3:01 pm to STLhog
Posted on 1/14/16 at 3:01 pm to STLhog
quote:
This is a pretty good gauge right here. This is what you need to make to be in the top 1% of each state. Crazy how high North Dakota is. Must be a lot of rich oil folks there considering the low population. So yea, anything 6 figures is probably upper middle class. I'd say a household in the 55-85k range is "middle class".
This is my thought. The graphic is cool to look at but borderline worthless, i mean, top 1% is such a skewed measure.
quote:
I would think somewhere in the definition of Upper Middle would be the % of annual income that comes from investments.
I don't. If you are young, you should be aiming for capital appreciation and not income. I am top 5% in terms of household income, and I doubt more than 10% of my income comes from investments.
per wikipedia upper middle is
LINK
quote:
Sociologists Dennis Gilbert, Willam Thompson and Joseph Hickey estimate the upper middle class to constitute roughly 15% of the population. Using the 15% figure one may conclude that the American upper middle class consists, strictly in an income sense, of professionals with personal incomes in excess of $62,500, who commonly reside in households with six figure incomes.[1][5][8][11] The difference between personal and household income can be explained by considering that 76% of households with incomes exceeding $90,000 (the top 20%) had two or more income earners.[8]
and lower middle class
quote:
household incomes commonly range from $35,000 to $75,000.
Those two make up middle class.
1
Posted on 1/14/16 at 4:47 pm to AnonymousTiger
I make around 50k a year, and am not hurting for money. I'm able to live well, fill up an IRA and other company savings account each year, and have started putting away money for a house. I'm only 27, but I feel like I'm solidly in the middle class currently. Once I pass that damn CPA, I'll be moving on up.
Posted on 1/14/16 at 4:51 pm to yellowfin
quote:
100k with a thousand dollar a month house note and paid off vehicle? Upper middle
I didn't realize I was upper,upper middle.
Posted on 1/14/16 at 5:25 pm to STLhog
frick I'd be a baller in Arkansas
Posted on 1/14/16 at 6:34 pm to Hawkeye95
I'd say our lifestyle doesn't "match" how much we make on a daily basis.
1. A good chunk goes to student loans a year
2. We save a lot once you count up 401k matches, IRAs and Taxable accounts.
However, even with what is left we have what I consider huge annual spending (compared to the statistics and my childhood memories). I suppose the key difference between where I am and say, lower classes, is that I don't have to save money for 6 months to buy a TV, I can just buy it and adjust discretionary spending that month to make up for it. I don't think my parents could do that when we were kids.
1. A good chunk goes to student loans a year
2. We save a lot once you count up 401k matches, IRAs and Taxable accounts.
However, even with what is left we have what I consider huge annual spending (compared to the statistics and my childhood memories). I suppose the key difference between where I am and say, lower classes, is that I don't have to save money for 6 months to buy a TV, I can just buy it and adjust discretionary spending that month to make up for it. I don't think my parents could do that when we were kids.
This post was edited on 1/14/16 at 6:36 pm
Posted on 1/14/16 at 7:57 pm to AnonymousTiger
quote:Middle 3 quintiles.
What do you consider as Middle Class in America today?
This post was edited on 1/14/16 at 7:58 pm
Posted on 1/14/16 at 9:24 pm to Jcorye1
quote:
I make around 50k a year, and am not hurting for money. I'm able to live well, fill up an IRA and other company savings account each year, and have started putting away money for a house. I'm only 27, but I feel like I'm solidly in the middle class currently. Once I pass that damn CPA, I'll be moving on up.
To me that makes you a 1%er already, just because you seem to know how to manage your money.
Posted on 1/14/16 at 10:24 pm to Lsut81
quote:
Sociologist Leonard Beeghley identifies a male making $57,000 and a female making $40,000 with a combined households income of $97,000 as a typical middle-class family.[
I'd say this is pretty close to how I feel about middle class.
Something like an accountant (non-CPA) married to a teacher, for some reason that combo just jumps out to me as typical middle class.
ETA: IMO, upper middle is from 125-175k. These numbers will obviously vary based upon location.
This post was edited on 1/14/16 at 10:30 pm
Posted on 1/15/16 at 4:42 am to AnonymousTiger
quote:
I don't feel middle class, I feel poor
In general, many of the things we "need" were "wants" many years ago- or even "wishes."
Cell phones, air conditioned cars, and so on. Our "modest" houses are 2000 or 3000 sq ft whereas most of us grew up with parents and siblings in less than 1500 sq ft.
We have more resources, but we have way more "stuff".
Posted on 1/15/16 at 12:14 pm to Teddy Ruxpin
quote:
I'd say our lifestyle doesn't "match" how much we make on a daily basis.
Me neither. Our friends that know how much we make are always trying to get us to do stupid things with the money. Buy an RV, buy a mtn home!
quote:
However, even with what is left we have what I consider huge annual spending (compared to the statistics and my childhood memories). I suppose the key difference between where I am and say, lower classes, is that I don't have to save money for 6 months to buy a TV, I can just buy it and adjust discretionary spending that month to make up for it. I don't think my parents could do that when we were kids.
yeah, I have no idea what is to be poor. While I was poor in college, I never got below maybe 100 in checking. And if I really needed $$, my mom would have given it to me.
BTW, I am going to indonesia for 3 weeks. If you give me your email, I will shoot you pics when I return.
Posted on 1/15/16 at 12:22 pm to man117
quote:
I was telling my wife the other day, I make nearly twice what I was making out of college and feel stressed about finances all the time even though I save pretty well.
I honestly never stop stressing about money. The more I make, the more concerned I get.
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