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re: .
Posted on 7/28/20 at 8:56 am to DiamondDog
Posted on 7/28/20 at 8:56 am to DiamondDog
quote:
Nothing substantial besides a new brokerage account with $2500 in it and $55,000 in a 401k.
anything above $0 puts you ahead of almost half of the US
that's why i asked. it's a matter of perspective. people who are doing middle class (and above) things don't really associate much with the mass of people who are way below them. you associate with other people at/near your station and it creates a severe priming effect
so the next issue is defining what "middle" means. are we talking about the middle third? of income/savings?
some people seem to want to expand "middle" class to mean about 80% of the population
2
Posted on 7/28/20 at 9:19 am to SlowFlowPro
quote:
doing middle class (and above) things don't really associate much with the mass of people who are way below them. you associate with other people at/near your station and it creates a severe priming effect
so the next issue is defining what "middle" means. are we talking about the middle third? of income/savings?
some people seem to want to expand "middle" class to mean about 80% of the population
So what’s the solution? Associate with more people in the working class?
I have a maid, SFP and I go to church.
This was all said above in jest.
But I understand what you’re saying it’s about perspective but I think rich is a term relative to your position. I know we can’t go without income for 3-4 months. To me, that means you’re not close to wealthy. To me, that’s still working/middle class.
Posted on 7/28/20 at 12:00 pm to SlowFlowPro
quote:
so the next issue is defining what "middle" means. are we talking about the middle third? of income/savings? some people seem to want to expand "middle" class to mean about 80% of the population
Given the rise in income inequality, there may be logic behind expanding the parameters of middle class. Or to have a tier beyond upper class that would encompass people with generational wealth. There is a certain level of wealth at which it would actually be difficult to stop being wealthy. Assuming they don't participate in the Buffett-style donation at death, Jim Bernhard's or Jamie Dimon's or Tom Brady's kids would have to actually make such a long list of consecutive bad financial decisions that it's almost impossible for them to not be rich for life.
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