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Posted on 11/1/23 at 7:07 am to Jyrdis
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 on 11/1/23 at 7:07 am to thelawnwranglers
quote:this is how you know you’ve made it
The wealthy and high-income earners also don’t get tax refunds; they pay income taxes quarterly or at the end of the year.
Posted on 11/1/23 at 7:09 am to cgrand
As my CPA told me long ago: “The only thing worse than paying Quarterly Estimates is not paying Quarterly Estimates.”
Posted on 11/1/23 at 7:09 am to thelawnwranglers
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.
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 on 11/1/23 at 7:15 am to thelawnwranglers
quote:
How many do you have? I got maybe 2 so OT poors
Same here...
Posted on 11/1/23 at 7:21 am to Maderan
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 on 11/1/23 at 7:23 am to El Segundo Guy
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 on 11/1/23 at 7:34 am to soccerfüt
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 on 11/1/23 at 7:34 am to Thundercles
quote:
Who wrote this? This is rich people shite.
Yeah, this is more than just up from middle class.
Posted on 11/1/23 at 7:47 am to SloaneRanger
All but 2/13
This post was edited on 11/1/23 at 7:47 am
Posted on 11/1/23 at 7:47 am to BigApple
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 on 11/1/23 at 7:52 am to thelawnwranglers
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 on 11/1/23 at 8:03 am to notiger1997
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 on 11/1/23 at 10:11 am to thelawnwranglers
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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