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re: Is a family of 4 that earns 97k/year middle class or upper class, on average?
Posted on 3/27/17 at 5:06 am to HailHailtoMichigan!
Posted on 3/27/17 at 5:06 am to HailHailtoMichigan!
Depends where they live. In most of Louisiana that would be middle/upper middle. In Southern California it would be lower middle. It is obviously well above the poverty line and a family of 4 should be able to live comfortable ,but not luxurious.
0
Posted on 3/27/17 at 5:12 am to HailHailtoMichigan!
In ex urban georgia (43 miles from downtown Atlanta) it's middle class. Many people even in "the sticks" buy too much house on such a salary (250k or more) and feel poor. A decent house can be had here for 150k.
I make right at that and my wife works part time. We save all the money she makes.
I make right at that and my wife works part time. We save all the money she makes.
Posted on 3/27/17 at 5:30 am to HailHailtoMichigan!
I have not read beyond page 1, so forgive if this is Germans, but I am also adding that the ages of the two kids is a variable in the mix. If the two are younger but healthy the expenses they may represent are going to be lower than when they get to be teens and enter college. In other words, $97k is not a lot and in most places, middle to lower middle at best. It would present a "few frills" ok life, but the kids would see how "deprived" they are compared with real middle and upper middle class friends. And they will say so.
This post was edited on 3/27/17 at 5:34 am
Posted on 3/27/17 at 5:46 am to HailHailtoMichigan!
Middle class.
My parents pulled in a combined $100,000+/year growing up in Alabama and we were by no means considered upper class.
My parents pulled in a combined $100,000+/year growing up in Alabama and we were by no means considered upper class.
Posted on 3/27/17 at 6:02 am to HailHailtoMichigan!
Middle/lower middle, depending.
Posted on 3/27/17 at 6:08 am to StringedInstruments
quote:
Car insurance ~250/month Utilities ~250/month Food for four ~1000/month Gas for cars ~150/month Phones for four ~150/month Internet ~75/month Necessities (clothes, haircuts, etc) ~100/month TV/Entertainment ~$100/month That's $3600 out the door for a typical middle class lifestyle leaving about $2000 for savings, retirement, college savings, vacations, incidentals, fun/dates, and any miscellaneous expenditures. No one in the upper class is having fun with only $2000/month. EDIT - I didn't even factor in health insurance. How much does the employer provide? This post was edited on 3/26 at 10:25 pm
Forgot about Health insurance. Big chunk!
Posted on 3/27/17 at 6:15 am to HailHailtoMichigan!
poor
Posted on 3/27/17 at 6:23 am to HailHailtoMichigan!
The average household income in the US is around $50k.
Posted on 3/27/17 at 6:34 am to mahdragonz
quote:
Reading this is a signal that people are mistaking working class for middle or upper class. If you're middle or upper there are expenses that would be part of the list.
The most obvious Dry cleaning 600-800 per month Entertaining - 500 - 5000 per month
- it would depend Staff - depends but house and maintenance- 2k -10k per month
Philanthropy- a major expense depending what social circle you want to be in Holidays
You didn't even factor in jet usage or house in the Hamptons. Only $800 a month on dry cleaning? Are you some kind of farmer?
Posted on 3/27/17 at 6:37 am to StringedInstruments
3 haircuts at $20 = $60
plus mom @ $100-150= $200 round about.
Your numbers are way too conservative.
Groceries will likely run more when you add in toiletries and other misc needs.
Down vote all you want. It's fact and $100 for a ladies hair visit is cheap.
My question is all the Uclub ballers of BR who find their way into a $650k plus home and their jobs seemingly are nowhere near capable of supporting that......plus all the vacations.
plus mom @ $100-150= $200 round about.
Your numbers are way too conservative.
Groceries will likely run more when you add in toiletries and other misc needs.
Down vote all you want. It's fact and $100 for a ladies hair visit is cheap.
My question is all the Uclub ballers of BR who find their way into a $650k plus home and their jobs seemingly are nowhere near capable of supporting that......plus all the vacations.
This post was edited on 3/27/17 at 6:47 am
Posted on 3/27/17 at 6:39 am to AUsteriskPride
My mortgage is close to $3000, and I'm the indentured servant of my area (average home). $1500 a month is a steal.
Posted on 3/27/17 at 6:40 am to HailHailtoMichigan!
That would be middle class in Los Angeles CA. Calculator
This post was edited on 3/27/17 at 6:41 am
Posted on 3/27/17 at 6:44 am to Dawgfanman
$150k?! bullshite!
I sold our rinky dink place in Canton during the recession (2007) for $170. $150k is the hood.
I know north GA very well and anywhere from Canton to Cummings $220 is the minimum in a half way acceptable school disctrict.....hint: the schools will likely be sub par.
I sold our rinky dink place in Canton during the recession (2007) for $170. $150k is the hood.
I know north GA very well and anywhere from Canton to Cummings $220 is the minimum in a half way acceptable school disctrict.....hint: the schools will likely be sub par.
This post was edited on 3/27/17 at 6:44 am
Posted on 3/27/17 at 6:46 am to HailHailtoMichigan!
I live part time between southern California and Oklahoma. Between my wife and I we make way more than that. However, if my wife didn't own property in California, I wouldn't want to even think about paying to live there. A million cash gets you a 2 bedroom small house.
Posted on 3/27/17 at 7:24 am to HailHailtoMichigan!
I'd say that family was solidly middle class in most of the US....certainly not upper middle class anywhere in the country.
Who would have ever thought that a family income of $100K a year wouldn't be enough for a typical family to live comfortably on?
Who would have ever thought that a family income of $100K a year wouldn't be enough for a typical family to live comfortably on?
Posted on 3/27/17 at 7:34 am to joshnorris14
Closer to lower middle class.
Posted on 3/27/17 at 7:36 am to germandawg
quote:
Who would have ever thought that a family income of $100K a year wouldn't be enough for a typical family to live comfortably on?
100k per year will barely get you by for a family of four.
It is no where near upper middle(or what I would consider UM) even in rural Alabama.
Posted on 3/27/17 at 7:46 am to MrLarson
quote:
100k per year will barely get you by for a family of four.
you people have lost touch with reality
Posted on 3/27/17 at 8:07 am to Salmon
quote:
you people have lost touch with reality
No
Stringedinstruments did a pretty decent breakdown of a monthly budget but it left out a few things.
1. new roof
2. new HVAC
3. Car maintenance - New tires, oil changes
100k doesn't go very far in the world we live in.
Posted on 3/27/17 at 8:10 am to HailHailtoMichigan!
Definitely middle, even lower-middle. Where they live definitely matters also. Here in MD we have 6% sales tax, very high state and local taxes, and very high cost of living. In FL they have 6% sales tax but no state income taxes. It doesn't matter as much what you earn as what you have taken from your earnings, ie. net earnings.
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