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re: This is the OT so here are 15 signs you moved up from middle class

Posted on 11/1/23 at 7:03 am to
Posted by Maderan
Member since Feb 2005
843 posts
Posted on 11/1/23 at 7:03 am to
All of them...except 11. I loaded up on debt below 3%.
Posted by Tortious
ATX
Member since Nov 2010
5496 posts
Posted on 11/1/23 at 7:07 am to
quote:

Those thresholds should be well beyond the middle class.


Agree. Those aren't signs you left middle class. Rather, they are signs you probably don't remember what it even is or ever even experienced it.
Posted by cgrand
HAMMOND
Member since Oct 2009
43171 posts
Posted on 11/1/23 at 7:07 am to
quote:

The wealthy and high-income earners also don’t get tax refunds; they pay income taxes quarterly or at the end of the year.
this is how you know you’ve made it
Posted by soccerfüt
Location: A Series of Tubes
Member since May 2013
70123 posts
Posted on 11/1/23 at 7:09 am to
As my CPA told me long ago: “The only thing worse than paying Quarterly Estimates is not paying Quarterly Estimates.”
Posted by Armymann50
Playing with my
Member since Sep 2011
20416 posts
Posted on 11/1/23 at 7:09 am to
How many do you have?6
4. Healthcare: You have access to premium healthcare services and can afford elective procedures.

5. Vacations: You take multiple breaks a year, possibly to international destinations, without worrying about the cost.


7. Home Ownership: You own your home, possibly multiple homes or properties, not just your primary residence.

11. No Debt: You have little to no consumer debt and a robust credit score.

13. Time Flexibility: You can choose how you spend your time rather than being tied to a 9-5 job

15. Limited Budgeting Requirements: Daily expenses and budgeting are relatively low compared to your income or net worth.

Posted by Tiger Ugly
Baton Rouge
Member since Jul 2008
16536 posts
Posted on 11/1/23 at 7:15 am to
quote:

How many do you have? I got maybe 2 so OT poors


Same here...
Posted by El Segundo Guy
SE OK
Member since Aug 2014
10856 posts
Posted on 11/1/23 at 7:21 am to
quote:

All of them...except 11. I loaded up on debt below 3%


I have all but #9. I don't give anything to anyone for free.
Posted by bushwacker
youngsville
Member since Feb 2010
3845 posts
Posted on 11/1/23 at 7:23 am to
My hunting camp is worth 3x that of my house. Not sure if that is well off or just plain frickin stupid haha. But we enjoy it and it is shared expense with others.
Posted by XenScott
Pensacola
Member since Oct 2016
3668 posts
Posted on 11/1/23 at 7:34 am to
quote:

As my CPA told me long ago: “The only thing worse than paying Quarterly Estimates is not paying Quarterly Estimates.”


My problem is I have no idea quarter to quarter. We now have interest bearing operating operating accounts so we let it sit for longer before distributions. We try to end load it to the end of the year and collect interest but the CPA says not to do that.

As far as taxes being the biggest expense, I don’t think you have to be wealthy for that to happen.
Posted by SloaneRanger
Upper Hurstville
Member since Jan 2014
10852 posts
Posted on 11/1/23 at 7:34 am to
quote:

Who wrote this? This is rich people shite.


Yeah, this is more than just up from middle class.
Posted by Shotgun Willie
Member since Apr 2016
4038 posts
Posted on 11/1/23 at 7:47 am to
All but 2/13
This post was edited on 11/1/23 at 7:47 am
Posted by StringedInstruments
Member since Oct 2013
19786 posts
Posted on 11/1/23 at 7:47 am to
quote:

That’s about what it is in New Orleans. At least the better schools.


Yeesh. I don’t know how y’all do it. I’m thankful for our “over the mountain” public schools.
Posted by AUFANATL
Member since Dec 2007
4631 posts
Posted on 11/1/23 at 7:52 am to
quote:

13. Time Flexibility: You can choose how you spend your time rather than being tied to a 9-5 job.


This seems like more of an indicator that you are in the lower class.

A few other things on the list could fit that description as well (eg, Obamacare).

I guess the moral of the story is be rich or be poor. Scrounging it out in the middle class of a city is a fool's errand.
Posted by Jon A thon
Member since May 2019
2145 posts
Posted on 11/1/23 at 8:03 am to
quote:

Lots of us have this one. Our private schools aren’t crazy expensive though so I guess it doesn’t mean much


Yeah, Catholic schools, although still a sign of upper middle class, are far from the cost of private schools in my area. When you think of private school near me, you are talking the cost of a Newman or Country Day vs. the typical parochial school.
Posted by auie93
Auburn
Member since Jan 2021
696 posts
Posted on 11/1/23 at 10:11 am to
Currently meet all but 2 and 10. When the market is returning more than 10% then have all but 10 but that is by choice.
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